AirGate starts consent solicitation for 9 3/8% notes, floaters

New York, Jan. 11 - AirGate PCS, Inc. said it is soliciting consents from holders of its 9 3/8% senior subordinated secured notes due 2009 and its first priority senior secured floating rate notes due 2011 to proposed amendments to the note indentures.

The amendments are to allow Alamosa Holdings, Inc.'s acquisition of AirGate to go ahead without AirGate or Alamosa being required to make a repurchase offer for the notes.

Holders who consent will receive a payment of 0.25% of the principal amount.

The solicitation expires at 5 p.m. ET on Jan. 25.

The solicitation is subject to the receipt of consents from holders of a majority of the principal amount of the outstanding notes of each series and completion of the merger by June 30.

MacKenzie Partners, Inc. is the information agent (800 322-2885 or call collect 212 929-5500). UBS Securities LLC is the solicitation agent (contact Liability Management Group collect at 203 719-4210 or 888 722-9555 x4210).

AirGate is an Atlanta-based wireless phone company.

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