MetroPCS receives default notice from note trustee

New York, Sept. 9 - MetroPCS, Inc. said it received a notice from the trustee for its $150 million 10¾% senior notes due 2011 that it had failed to comply with the covenant requiring it to file its 10-Q quarterly report with the Securities and Exchange Commission for the quarter ended June 30, 2004.

The Dallas provider of wireless communications services has until Nov. 8 to remedy the default.

If MetroPCS does not remedy the default in that time, an event of default will occur and the trustee or the holders of 25% of the principal amount of the notes will be able to accelerate the notes.

MetroPCS noted it has previously announced that its audit committee is conducting an independent investigation into an understatement of revenues and net income for the quarter ended March 31, 2004. It will file the 10-Q when the investigation is complete - and said it cannot predict when that will happen.

However MetroPCS said management intends to avoid the event of default under the indenture by filing the second quarter 2004 10-Q promptly after the investigation and by Nov. 8.

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