Helio to be Acquired by Virgin Mobile USA

Virgin Mobile USA has announced that it has entered into an agreement to acquire Helio, a joint venture between SK Telecom and EarthLink, Inc. providing highly advanced postpaid products and services with unique user applications.

Under the terms of the agreement, Virgin Mobile USA will acquire Helio from SK Telecom and EarthLink for limited partnership units equivalent to 13 million shares of Virgin Mobile USA class A common stock, with a value of $39 million based on the closing price of Virgin Mobile USA's class A shares on June 26, 2008.