US Unwired Inc. Announces $285 Million Private Debt Offering of Senior Secured Notes.

Business Editors/High-Tech Writers

LAKE CHARLES, La.--(BUSINESS WIRE)--June 1, 2004

US Unwired Inc. (OTCBB:UNWR) today announced that it intends to offer $125,000,000 aggregate principal amount of First Priority Senior Secured Floating Rate Notes due 2010 and $160,000,000 aggregate principal amount of Second Priority Senior Secured Notes due 2012. The 2010 Notes and the 2012 Notes will be senior secured obligations of US Unwired and unconditionally guaranteed on a senior secured basis by all of US Unwired's current subsidiaries, other than IWO Holdings, Inc. and its subsidiaries. The 2010 Notes will be secured by first priority liens on the collateral securing such notes and the 2012 Notes will be secured by second priority liens on the collateral securing such notes.

The net proceeds from the offering, together with cash balances, will be used to retire US Unwired's existing senior secured credit facility and to purchase its 13 3/8% senior subordinated discount notes tendered in the tender offer US Unwired announced on May 13, 2004.

Neither the 2010 Notes nor the 2012 Notes have been registered under the Securities Act of 1933, as amended, and they may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

About US Unwired

US Unwired Inc., headquartered in Lake Charles, La., holds direct or indirect ownership interests in five PCS affiliates of Sprint: Louisiana Unwired, Texas Unwired, Georgia PCS, IWO Holdings and Gulf Coast Wireless. Through Louisiana Unwired, Texas Unwired, Georgia PCS and IWO Holdings, US Unwired is authorized to build, operate and manage wireless mobility communications network products and services under the Sprint brand name in 67 markets, currently serving over 650,000 PCS customers. US Unwired's PCS territory includes portions of Alabama, Arkansas, Florida, Georgia, Louisiana, Mississippi, Oklahoma, Tennessee, Texas, Massachusetts, New Hampshire, New York, Pennsylvania, and Vermont. For more information on US Unwired and its products and ...