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MetroPCS Reports First Quarter 2008 Results

• Consolidated Adjusted EBITDA of $178 million, representing 19% year over year growth
• Quarterly net subscriber additions of 452 thousand
• First commercial launch of AWS Market, Las Vegas
• Reaffirms outlook for continued growth in 2008

MetroPCS Communications, Inc. (NYSE: PCS), the nation’s leading provider of affordable, flexible and predictable unlimited wireless communications service for a flat-rate with no signed contract, today announced financial and operational results for the quarter ended March 31, 2008. MetroPCS reported Consolidated Adjusted EBITDA of $178 million, and ended the first quarter of 2008 with approximately 4.4 million subscribers.

“Results in the first quarter were very strong considering the current challenging macro economic environment. Highlighted by 452 thousand net additions and flat churn year over year, our compelling value proposition as well as the ongoing trend of landline replacement in the United States, resulted in continued subscriber growth as well as solid quarterly Adjusted EBITDA. Every operating market continues to report positive net additions resulting in increased penetration and total subscribers. With this momentum, we reported Adjusted EBITDA as a percentage of service revenues during the first quarter of 46.2% for our Core Markets, and 31.6% on a consolidated basis. We also maintained our focus on managing costs and reported industry-leading low consolidated CPGA and CPU,” said Roger D. Linquist, Chairman, President and Chief Executive Officer of MetroPCS.

“Los Angeles, our largest market to date, continued to demonstrate an acceleration in growth during the first quarter. We continue to aggressively expand our service footprint towards our 15 million covered POPs goal by the end of the third quarter. We also were able to launch service in Las Vegas, the first commercially launched AWS Market in the United States, ahead of schedule during the first quarter. Growth in our Expansion Markets continues to be strong, but more impressive is that our Core Markets continue to show significant increased penetration. Over the past twelve months we have added over 1 million total subscribers, which represents approximately 30% subscriber growth when compared to the same period last year.

“Construction in the Northeast continues, and we are excited about our future planned launches of service in the Philadelphia, Boston and New York City metropolitan areas. We believe these major metropolitan areas will fuel substantial future growth for the Company. Currently, our service covers an approximate 60 million POPs and once the buildout of the Northeast is complete, our service footprint will cover in excess of 100 million POPs. In this time of credit market uncertainty, it is important to note that we have a fully-funded business plan for all of our planned expansions with a substantial liquidity cushion. As we build out our Northeast markets, we will work to maintain our low cost structure while growing the business profitably. I am proud of our accomplishments to date and I am excited with our future growth prospects,” Linquist concluded.

For the first quarter of 2008, MetroPCS reported total revenues of $662 million, an increase of 23% over the first quarter of 2007, and income from operations of $112 million, an increase of 9% when compared to the first quarter of 2007. The Company reported first quarter 2008 net income of $40 million, or $0.11 per common share, as compared to net income of $36 million for the same period in 2007. The first quarter 2008 results include an impairment charge of $8 million related to the Company’s investment in auction rate securities. On a non-GAAP basis excluding the impairment charge, net income would have been $48 million, or $0.13 per common share.

Key Consolidated Financial and Operating Metrics