Brightpoint Enters Into Agreement to Settle Indemnity Claims and Repurchase 3 Million Shares From Shareholder

• Press Release
• Source: Brightpoint, Inc.
• On 7:00 am EDT, Friday October 2, 2009

  *  Brightpoint purchases 3 million of its shares from NC Holding
     for $15.5 million under its Previously Announced $50 Million
     Share Repurchase Program
  *  Settlement Agreement with NC Holding settles Brightpoint's
     indemnification claims previously made pursuant to the Dangaard
     Acquisition Agreement
  *  NC Holding's Sole Remaining Designated Director, Thorleif
     Krarup, Resigns from Brightpoint's Board of Directors Pursuant
     to the Agreement

Related Quotes

Symbol	Price	Change
CELL	7.39	-0.29

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INDIANAPOLIS, Oct. 1, 2009 (GLOBE NEWSWIRE) -- Brightpoint, Inc. (the "Company" or "Brightpoint") (Nasdaq:CELL - News) today announced that the Company has entered into a settlement agreement with NC Telecom Holding A/S ("NC Holding"), which provides for Brightpoint to purchase 3 million Brightpoint shares from NC Holding for $15.5 million under the previously announced share repurchase program.

Under the settlement agreement, the Company's indemnification claims previously made against NC Holding pursuant to the Dangaard acquisition agreement have been settled. In addition, the settlement agreement provides that NC Holding will no longer have the right to designate any candidate to be considered to serve on the Company's Board of Directors and that Thorleif Krarup has agreed to immediately resign from the Board of Directors.

As of September 30, 2009, we had 81,897,226 shares of common stock outstanding. Upon the completion of the repurchase from NC Holding under the settlement agreement we will have 78,897,226 shares of common stock outstanding.

As of September 30, 2009 we have repurchased 150,794 of Brightpoint shares at an average price of $6.31 per share under the previously announced share repurchase program under which we may purchase up to $50 million of our common shares. Upon the completion of the repurchase from NC Holding under the settlement agreement we will have repurchased 3,150,794 of Brightpoint shares for an aggregate of approximately $16.5 million and at an average purchase price of $5.22 per share under the share repurchase program. The share repurchase program will expire on July 31, 2011. Repurchases may be made from time to time through open market or privately negotiated transactions or otherwise. This is the only share repurchase program in place currently. The Company currently believes that it will have sufficient liquidity to complete the repurchase program.

About Brightpoint, Inc.

Brightpoint, Inc. (Nasdaq:CELL - News) is a global leader in the distribution of wireless devices and in providing customized logistic services to the wireless industry. In 2008, Brightpoint handled approximately 84 million wireless devices globally. Brightpoint's innovative services include distribution, channel development, fulfillment, product customization, e-Business solutions, and other outsourced services that integrate seamlessly with its customers. Brightpoint's effective and efficient platform allows its customers to benefit from quickly deployed, flexible, and cost effective solutions. The company has approximately 2,700 employees in more than 25 countries. In 2008 Brightpoint generated revenue of $4.6 billion. Brightpoint provides distribution and customized services to more than 25,000 B2B customers worldwide. Additional information about Brightpoint can be found on its website at www.brightpoint.com, or by calling its toll-free Information and Investor Relations line at 877-IIR-CELL (877-447-2355).

Certain information in this press release may contain forward-looking statements regarding future events or the future performance of Brightpoint, including, but not limited to, statements regarding it having sufficient liquidity to complete the share repurchase program. These statements are only predictions and actual events or results may differ materially. Please refer to the documents Brightpoint files, from time to time, with the Securities and Exchange Commission, including Brightpoint's most recent Form 10-K and Form 10-Q and Exhibit 99.1, thereto. These documents contain and identify important risk factors that could cause the actual results to differ materially from those contained in or implied by these forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date these statements were made. Brightpoint undertakes no obligation to update any forward-looking statements contained in this press release.

Brightpoint, Inc.
Anurag Gupta
317-707-2355
Anurag.gupta@brightpoint.com