April 10, 2012 – Leap Wireless announced that it has entered into agreements with Cook Inlet/VS GSM VII PCS (joint venture between Cook Inlet and T-Mobile), Savary Island Wireless (Leap’s noncontrolled, majority-owned venture), and T-Mobile to exchange wireless spectrum.  Under the terms of the agreement, Leap will acquire 10 MHz of additional AWS spectrum in Phoenix, AZ and Houston, Galveston and Bryan-College Station, TX.  Leap and Savary Island have reportedly agreed to assign Cook Inlet and T-Mobile spectrum in Alabama, Illinois, Minnesota, Missouri, and Wisconsin. The transactions also include intra-market exchanges between Cook Inlet, Leap, and T-Mobile in Atlantic City, Philadelphia, and Wilmington as well as various markets in Texas and New Mexico, and between Cook Inlet and Leap in certain markets in Texas.