June 1, 2001 -- Deutsche Telekom AG (NYSE: DT) has completed its acquisition of VoiceStream Wireless Corporation and Powertel, Inc., forming the first transatlantic wireless communications operator utilizing the Global System for Mobile (GSM) digital wireless technology standard. The GSM communications technology platform has been adopted by about 400 network providers in more than 160 countries and accounts for approximately 70 percent of the total global digital wireless market. The newly-combined company has a spectrum license footprint covering 97 percent of the population of the United States.

Friedman Kaplan Seiler & Adelman LLP partners Barry A. Adelman and Gregg S. Lerner, who have represented VoiceStream and its predecessor company, Western Wireless Corporation, since their formation, advised VoiceStream in connection with the transaction, along with FKSA partner Meryl S. Rosenblatt and associates Sophia S. Hartch and David I. Tanenbaum. Wachtell Lipton Rosen & Katz partner Daniel A. Neff and associates Mark Gordon and Hilary Seo also advised VoiceStream in connection with the transaction. Goldman, Sachs & Co. served as VoiceStream's financial advisor.

VoiceStream will become part of T-Mobile International AG, Deutsche Telekom's mobile telephony subsidiary. With more than 51 million subscribers, and a group of 15 companies in Europe, Asia and, now, the United States, Deutsche Telekom is one of the world's leading mobile communications companies. VoiceStream will be the North American member of T-Mobile, headquartered in Bellevue, Washington, and led by VoiceStream's team of senior executives, including Chairman and Chief Executive Officer John Stanton, Don Guthrie, Vice Chairman and CFO, and Bob Stapleton, President and Chief Operating Officer. Today, including the southeastern U.S. markets covered by Powertel, VoiceStream serves approximately 5.4 million customers in 38 states and the District of Columbia. VoiceStream, with its affiliates, owns licenses to provide service to more than 273 million people.

Deutsche Telekom is Europe's largest communications company and one of the largest communications carriers worldwide based on 2000 revenues of 40.9 billion euros ($38.6 billion). The company is active in four key growth segments of the global telecommunications market: mobile communications, network access services, consumer Internet services and integrated IT and telecommunications solutions. Through T-Mobile, Deutsche Telekom's mobile telephony subsidiary, and through other subsidiaries and investments, Deutsche Telekom today serves more than 51 million mobile telephony customers worldwide and holds licenses to provide wireless services to more than 500 million people worldwide.