Exhibit 99.1

Contact: Will Seippel
         Chief Financial Officer
         404-525-7272


                   AIRGATE PCS, INC. ANNOUNCES FOURTH QUARTER
                AND FISCAL YEAR-END 2002 RESULTS; FILING OF 10-K


ATLANTA  (January  15,  2003) - AirGate  PCS,  Inc.,  (NASDAQ/NM:  PCSA),  a PCS
Affiliate of Sprint,  today  announced  financial and operating  results for its
fourth  quarter and fiscal year ended  September 30, 2002, and the filing of its
Annual Report on Form 10-K.

Total  revenues for the fourth  fiscal  quarter  ended  September  30, 2002 were
$137.2 million compared with $62.3 million for fiscal 2001. The 2001 results did
not include iPCS,  Inc., which was acquired by the Company on November 30, 2001.
The Company reported a net loss of ($615.0) million,  or ($23.83) per share, for
the three months ended  September 30, 2002,  compared with a net loss of ($25.0)
million,  or ($1.88) per share,  in the fourth fiscal  quarter of 2001. The loss
included a ($556.2) million charge,  or ($21.55) per share,  associated with the
impairment of goodwill and tangible and intangible assets related to iPCS, Inc.

For the fiscal year ended September 30, 2002, the Company  reported  revenues of
$456.6  million  compared with revenues of $172.1  million for fiscal 2001.  The
Company reported a net loss of ($996.6) million,  or ($41.96) per share, for the
fiscal  year ended  September  30,  2002,  compared  with a net loss of ($111.0)
million,  or ($8.48) per share,  for fiscal 2001.  The loss  included a total of
($817.4)  million,  or ($34.42) per share,  associated  with the  impairment  of
goodwill and tangible and intangible assets related to iPCS, Inc.

EDITDA,   defined  as  earnings  before   interest,   taxes,   depreciation  and
amortization,  excluding non-cash stock compensation expenses,  loss on disposal
of property and equipment,  and impairment  charges,  was ($8.9) million for the
fourth quarter of fiscal 2002. EBITDA was ($40.0) million for fiscal 2002.

During 2002, the Company recorded significant  write-downs in the carrying value
of goodwill and tangible and intangible  assets associated with its wholly-owned
unrestricted  subsidiary,  iPCS.  These  impairment  write-downs  were  taken in
accordance with the accounting  guidance prescribed by SFAS No. 142 and No. 144.
The purpose of the write-downs  was to record  property and equipment,  goodwill
and other  intangible  assets at their fair value. In the second fiscal quarter,
the Company  recorded a goodwill  impairment  of $261.2  million.  In the fourth
fiscal  quarter,  the impairment of goodwill and tangible and intangible  assets
related to iPCS was $556.2 million.

As indicated in a December 30, 2002 press release,  a delay in filing  AirGate's
Annual  Report on Form 10-K  provided  additional  time to allow the  Company to
complete a review of  balances  owed to the  Company  by Sprint,  as well as the
Company's  subscriber accounts receivable  balances.  This review did not impact
financial information or disclosures in prior reports on Form 10-Q or 10-K.

In  connection  with  this  review  of  accounts  receivable,  the  Company  has
reclassified approximately $10 million of subscriber accounts receivable for the
fiscal year ended  September 30, 2002 to a receivable  from Sprint.  The Company
believes  at  least  $10  million  is  payable  from  Sprint,   but  Sprint  has
acknowledged only $5.8 million is owed to AirGate. The Company is in discussions
with Sprint regarding the differences and has provided for these  discussions in
its consolidated financial statements.

Filing of the Form 10-K and the  delivery  of the  Company's  audited  financial
statements and related  information to AirGate  lenders under its senior secured
credit  facility  and the  trustee  for its  notes  cure any  potential  AirGate
default.

As previously  announced,  liquidity is an issue for iPCS in the near term.  The
Company  retained  Houlihan Lokey Howard & Zukin Capital to review iPCS' revised
long range business plan, the strategic  alternatives  available to iPCS, and to
assist  iPCS in  developing  and  implementing  a plan to  improve  its  capital
structure.  iPCS has undertaken efforts to restructure its arrangements with its
secured lenders,  its public note holders and others. Based upon a review of the
historical and expected  operating  results of iPCS,  the Company  believes that
iPCS will be required to seek  protection  from its creditors  under the federal
bankruptcy laws in the near term either as part of a consensual restructuring or
in an effort to affect a court administered reorganization.

"During this  challenging  period,  we realized we had to reposition the Company
for the  next  phase  in the  wireless  industry,"  said  Thomas  M.  Dougherty,
president and chief executive  officer of AirGate PCS. "We are taking aggressive
actions to elevate our business  efficiency and  effectiveness  by restructuring
our organizations,  reducing capital and other expenditures,  and improving cash
flow. We also are focused on strengthening the credit quality of new subscribers
and reducing churn while continuing to build a mutually-beneficial  relationship
with Sprint.  Although 2003 is likely to see significantly  slower growth in net
new  subscribers,  we expect  that the pace of growth  will be  complemented  by
improved liquidity and financial performance.

                                     -MORE-
<PAGE>


"Further,   we   anticipate   that  the   launch  of  PCS   VisionSM,   Sprint's
third-generation  technology,  in our  territories  will  provide an  additional
vehicle to support  future  subscriber  and revenue  growth,"  Dougherty  added.
"Vision-enabled  PCS  devices  take and receive  pictures,  check  personal  and
corporate e-mail, play games with full-color graphics and polyphonic sounds, and
browse  the  Internet  wirelessly  with  speeds  that  equal  or  exceed  a home
computer's  dial-up  connection.  We are  pleased  to be able  to  offer a broad
portfolio   of   Vision-enabled   devices  that   incorporate   voice  and  data
functionality,  expanded memory,  high-resolution  and larger color screens that
allow greater mobility, convenience and productivity."

Additional  financial and operating  highlights for the fourth quarter of fiscal
2002 include the following:

o    The  Company  added  22,387 net new  customers,  net of an  adjustment  for
     subscribers not reasonably  expected to pay. As a result, the Company had a
     total of 554,833 subscribers as of September 30, 2002.

o    Average revenue per subscriber (ARPU) was $60 for the quarter,  an increase
     from $56 in the third quarter of 2002.

o    Total roaming  revenue was $35.7  million for the fourth fiscal  quarter of
     2002,  compared with $32.0  million for the third quarter of 2002.  Roaming
     expense was $25.4 million for the quarter,  compared with $21.8 million for
     the previous  quarter.  During 2002,  the  reciprocal  roaming rate paid by
     Sprint and its  affiliates  was $0.10 per minute.  Sprint has  notified the
     Company it is decreasing this rate to $0.058 per minute on January 1, 2003.

o    Churn was 4.0  percent  in the fiscal  fourth  quarter,  compared  with 3.2
     percent in the prior quarter.

o    Capital expenditures in the quarter were $19.7 million, compared with $28.9
     million in the previous  quarter,  bringing total capital  expenditures for
     the year to $97.1 million.


AirGate PCS will hold a conference call to discuss this press release  tomorrow,
Thursday,  January 16, 2003, at 9:00 a.m. ET. A live broadcast of the conference
call    will    be    available     on-line    at     www.airgatepcsa.com     or
www.companyboardroom.com.  To listen to the live call, please go to the Web site
at least 15 minutes early to register, download, and install any necessary audio
software.  For those who cannot listen to the live  broadcast,  a replay will be
available  shortly  after the call through the close of business on February 14,
2003.

About AirGate PCS

AirGate PCS,  Inc.,  including  its  unrestricted  subsidiary  iPCS,  is the PCS
Affiliate  of  Sprint  with  the  exclusive  right  to  sell  wireless  mobility
communications   network  products  and  services  under  the  Sprint  brand  in
territories  within  seven states  located in the  Southeastern  and  Midwestern
United  States.  The  territories  include  over 14.6  million  residents in key
markets   such  as   Grand   Rapids,   Michigan;   Charleston,   Columbia,   and
Greenville-Spartanburg,   South   Carolina;   Augusta  and  Savannah,   Georgia;
Champaign-Urbana  and  Springfield,  Illinois;  and the  Quad  Cities  areas  of
Illinois and Iowa. AirGate PCS is among the largest PCS Affiliates of Sprint.

About Sprint

Sprint operates the nation's  largest  all-digital,  all-PCS  wireless  network,
already  serving  more than 4,000  cities and  communities  across the  country.
Sprint has  licensed  PCS  coverage  of more than 280  million  people in all 50
states,  Puerto Rico and the U.S. Virgin Islands.  In August 2002, Sprint became
the first  wireless  carrier in the country to launch next  generation  services
nationwide  delivering faster speeds and advanced applications on Vision-enabled
phones and  devices.  For more  information  on  products  and  services,  visit
www.sprint.com/mr.  Sprint  PCS  is a  wholly-owned  tracking  stock  of  Sprint
Corporation  trading  on the NYSE  under the  symbol  "PCS."  Sprint is a global
communications  company with  approximately  75,000 employees  worldwide and $26
billion in annual revenues and is widely recognized for developing,  engineering
and deploying state-of-the art network technologies

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

This news release contains forward-looking  statements that are based on current
expectations,  estimates,  forecasts and  projections  about AirGate,  iPCS, the
wireless industry, our beliefs and our management's  assumptions.  Words such as
"expects,"  "anticipates,"  "targets," "goals," "projects,"  "intends," "plans,"
"believes,"  "seeks,"  "estimates"  and  variations  of such  words and  similar
expressions  are intended to identify  such  forward-looking  statements.  These
statements are not guarantees of future  performance  and involve certain risks,
uncertainties and assumptions that are difficult to predict.  Therefore,  actual
outcomes and results may differ materially from what is expressed or forecast in
such forward-looking statements.

                                     -MORE-
<PAGE>


Factors that could cause actual  results to differ  include:  the  liquidity and
potential  restructuring  of iPCS,  including the potential loss of all value in
the iPCS common  stock held by AirGate;  the  unsettled  nature of the  wireless
market; the current economic slowdown; the potential to continue to experience a
high rate of customer  turnover;  our ability to predict future customer growth,
as well as other key operating metrics; the competitiveness and impact of Sprint
PCS pricing plans, products and services; the ability to successfully launch and
leverage 3G products  and  services;  customer  credit  quality;  our ability to
retain  customers;  the ability of Sprint PCS to provide back  office,  customer
care and other services; the prices charged by Sprint for its services; consumer
purchasing  patterns;  potential  fluctuations in quarterly results; an adequate
supply of  subscriber  equipment;  risks  related to our ability to compete with
larger,  more established  businesses;  rapid  technological  and market change;
risks  related  to future  growth and  expansion;  rates of  penetration  in the
wireless  industry;  the  potential  need for  additional  sources of liquidity;
impacts of spending  cuts on network  quality,  customer  retention and customer
growth; anticipated future losses; the significant level of indebtedness of each
of AirGate and iPCS; adequacy of bad debt and other reserves; and the volatility
of AirGate PCS' stock price.

For a detailed  discussion of these and other cautionary  statements and factors
that could  cause  actual  results to differ from those  contained  in this news
release,  please refer to AirGate PCS' filings with the  Securities and Exchange
Commission  ("SEC"),  especially in the "risk  factors"  section of AirGate PCS'
Form 10-K for the fiscal year ended September 30, 2002 and in subsequent filings
with the SEC. Except as otherwise required under federal securities laws and the
rules and  regulations of the SEC, we do not have any intention or obligation to
update or revise  any  forward-looking  statements,  whether  as a result of new
information, future events, changes in assumptions or otherwise.

Definitions of Terms Used:

The  following  are  terms  used in the  press  release.  None are  measures  of
financial  performance  under generally  accepted  accounting  principles in the
United  States.  These terms as used by the Company may not be comparable to the
use of these terms by other companies.

EDITDA: EDITDA (earnings before interest,  taxes, depreciation and amortization)
is a financial measure used in the financial  community.  EDITDA as used in this
release  is  EBITDA  excluding  non-cash  stock  compensation  expense,  loss on
disposal of property and equipment and impairment losses.

ARPU (average revenue per user):  Summarizes the average monthly service revenue
per customer,  excluding  roaming revenue.  ARPU is computed by dividing service
revenue by the average  subscribers  for the period,  net of an  adjustment  for
those customers not reasonably expected to pay.

Churn:  Churn is the monthly rate of customer turnover expressed as a percentage
of the  customer  base that  discontinued  service  during the  month.  Churn is
computed by  dividing  the number of  customers  that  discontinued  the service
during the month by the average subscribers for the period, net of an adjustment
for 30 day returns and those customers not reasonably expected to pay.

Net Additions:  Net additions refer to the increase in total subscribers between
periods,  net of an adjustment for those  customers not  reasonably  expected to
pay.

Ending  Subscribers:  Ending subscribers  exclude an estimate of new subscribers
added during the period who are not reasonably expected to pay.

                                     -MORE-
<PAGE>

AirGate PCS Reports Fourth Quarter Fiscal 2002 Results
Page 6
January 15, 2003


                       AirGate PCS, Inc. and Subsidiaries
          Condensed Consolidating Balance Sheets at September 30, 2002
           (dollars in thousands, except share and per share amounts)


<TABLE>
<CAPTION>

<S>                                                       <C>           <C>                  <C>               <C>
                                                     AirGate PCS,                                       Consolidated
                                                         Inc.         iPCS, Inc.    Eliminations      AirGate PCS, Inc.
                                                    ---------------   ----------  ----------------   -------------------
ASSETS
Current Assets:

          Cash and cash equivalents                       $ 4,887       $ 27,588             $ -               $ 32,475
          Accounts receivable, net                         24,245         13,882               -                 38,127
          Receivable from Sprint PCS                       28,977         15,976               -                 44,953
          Inventories                                       4,136          2,597               -                  6,733
          Prepaid expenses                                  4,130          3,029               -                  7,159
          Other current assets                              1,331            109          (1,114)                   326
                                                    ----------------  ----------  -----------------    -----------------
                      Total current assets                 67,706         63,181          (1,114)               129,773

Property and equipment, net                               213,777        185,378               -                399,155
Intangible assets, net                                      1,428         26,899               -                 28,327
Investment in subsidiary                                  (99,212)             -          99,212                      -
Financing costs                                                 -          8,118               -                  8,118
Other assets                                                4,924          3,997               -                  8,921
                                                  ----------------    ----------  ------------------  ------------------
                      Total assets                      $ 188,623      $ 287,573        $ 98,098              $ 574,294
                                                 =================    ==========  ==================  ==================
</TABLE>

<TABLE>
<CAPTION>

<S>                                                      <C>            <C>             <C>                    <C>
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
Current Liabilities:

          Accounts payable and accrued expenses          $ 20,245       $ 19,971        $ (1,114)              $ 39,102
          Payable to Sprint PCS                            53,381         34,979               -                 88,360
          Deferred revenue                                  7,140          4,635               -                 11,775
          Current maturities of long term debt             44,957        309,979               -                354,936
            and capital lease obligations        -----------------    ----------  -----------------  -------------------
                      Total current liabilities           125,723        369,564          (1,114)               494,173

Long-term debt and capital lease obligations,
excluding current maturities                              354,264            564               -                354,828
Other long term liabilities                                 1,583         16,657               -                 18,240
                                                ------------------    ----------  -----------------  -------------------
                      Total liabilities                   481,570        386,785          (1,114)               867,241

Stockholders' equity (deficit):
          Common stock                                        258              -               -                    258
          Additional paid-in-capital                      731,158        192,850               -                924,008
          Unearned stock compensation                      (1,029)             -               -                 (1,029)
          Accumulated deficit                          (1,023,334)      (292,062)         99,212             (1,216,184)
                                                ------------------   -----------  -----------------  -------------------
                      Total stockholders'                (292,947)       (99,212)         99,212               (292,947)
                        equity (deficit)
                      Total liabilities
                        and stockholders'       ------------------   -----------  ------------------  ------------------
                        equity (deficit)                $ 188,623      $ 287,573        $ 98,098              $ 574,294
                                                ==================   ===========  ==================  ==================
</TABLE>

Note 1: AirGate did not apply push down accounting for the acquisition of iPCS.

Note     2: The $44,957 reflected as AirGate's current maturities of long-term
         debt includes $2,024 related to the current maturities of AirGate's
         senior credit facility and $42,933 related to the adjustments to fair
         value of iPCS' debt obligation under purchase accounting.

                                     -MORE-

<PAGE>


AirGate PCS Reports Fourth Quarter Fiscal 2002 Results
Page 7
January 15, 2003

                       AirGate PCS, Inc. and Subsidiaries
                 Condensed Consolidated Statements of Operations
           (dollars in thousands, except share and per share amounts)

<TABLE>
<CAPTION>
<S>                                                        <C>         <C>                <C>         <C>
                                                            Three Months Ended            Twelve Months Ended
                                                               September 30,                September 30,
                                                           ---------------------          ----------------------
                                                           2002             2001          2002              2001
                                                           ---------------------          ----------------------
Revwnues:
   Service revenue                                         $  96,943   $  39,057          $ 327,365   $  105,976
   Roaming revenue                                            35,704      19,812            111,162       55,329
   Equipment revenue                                           4,505       3,382             18,030       10,782
                                                           ---------------------          ----------------------
                                                             137,152      62,251            456,557      172,087
                                                           ---------------------          ----------------------

Operating Expenses:
   Cost of services and roaming (exclusive
    of depreciation, as show separately below)               (94,436)   (40,274)           (311,135)    (116,732)
   Cost of equipment                                         (13,486)    (5,810)            (43,592)     (20,218)
   Selling and marketing                                     (31,076)   (22,448)           (116,521)     (71,617)
   General and administrative expenses                        (7,062)    (3,593)            (25,339)     (15,742)
   Non-cash stock compensation expense                          (172)      (439)               (769)      (1,665)
   Depreciation                                              (22,333)    (9,204)            (70,197)     (30,621)
   Amortization of intangible assets                          (9,955)         -             (39,332)         (46)
   Impairment of goodwill                                   (199,708)         -            (460,920)           -
   Impairment of property and equipment                      (44,450)         -             (44,450)           -
   Impairment of intangible assets                          (312,043)         -            (312,043)           -
   Loss on disposal of property and equipment                 (1,074)         -              (1,074)           -
                                                           ---------------------         ------------------------
      Total operating expenses                              (735,795)   (81,768)         (1,425,372)    (256,641)
                                                           ---------------------         ------------------------
      Operating loss                                        (598,643)   (19,517)           (968,815)     (84,554)
                                                           ---------------------         ------------------------

Interest expense, net                                        (16,341)    (5,495)            (56,563)     (26,436)
                                                           ---------------------         ------------------------
   Loss before income tax benefit                           (614,984)   (25,012)         (1,025,378)    (110,990)
                                                           ---------------------         ------------------------
   Income tax benefit                                              -          -              28,761            -
                                                           ---------------------         ------------------------
   New loss                                                $(614,984)  $(25,012)         $ (996,617)   $(110,990)


Basic and diluted net loss per share of common stock       $  (23.83)  $  (1.88)         $   (41.96)   $   (8.48)

Basic and diluted weighted-average outstanding            25,805,998  13,333,127         23,751,507   13,089,285
  common shares
</TABLE>

                                     -MORE-

<PAGE>

AirGate PCS Reports Fourth Quarter Fiscal 2002 Results
Page 8
January 15, 2003


                       AirGate PCS, Inc. and Subsidiaries
                Condensed Consolidating Statements of Operations
                     for the Year Ended September 30, 2002
           (dollars in thousands, except share and per share amounts)

<TABLE>
<CAPTION>
<S>                                                   <C>              <C>            <C>                <C>
                                                     AirGate PCS,                                     Consolidated
                                                         Inc.         iPCS, Inc.  Eliminations      AirGate PCS, Inc.
                                                    -------------     ----------  -------------    ------------------
Revwnues:
   Service revenue                                  $  226,504       $  100,861     $      -         $  327,365
   Roaming revenue                                      74,013           37,923         (774)           111,162
   Equipment revenue                                    13,027            5,296         (293)            18,030
                                                    -------------    ----------  -------------     -----------------
                                                       313,544          144,080       (1,067)           456,557


Operating Expenses:
   Cost of services and roaming (exclusive
    of depreciation, as show separately below)        (203,985)        (107,924)         770           (311,135)
   Cost of equipment                                   (27,778)         (16,107)         293            (43,592)
   Selling and marketing                               (79,010)         (37,511)           -           (116,521)
   General and administrative expenses                 (17,631)          (7,708)           -            (25,339)
   Non-cash stock compensation expense                    (769)               -            -               (769)
   Depreciation                                        (40,678)         (29,519)           -            (70,197)
   Amortization of intangible assets                   (35,803)          (3,529)           -            (39,332)
   Impairment of goodwill                             (452,860)          (8,060)           -           (460,920)
   Impairment of property and equipment                      -          (44,450)           -            (44,450)
   Impairment of intangible assets                    (312,043)               -            -           (312,043)
   Loss on disposal of property and equipment           (1,074)               -            -             (1,074)
                                                     -----------      ----------  ------------       ------------
      Total operating expenses                      (1,171,631)        (254,808)       1,067         (1,425,372)
                                                     -----------      ----------  ------------       ------------
      Operating loss                                  (858,087)        (110,728)           -           (968,815)
Interest expense, net                                  (34,099)         (22,464)           -            (56,563)
Loss in subsidiary                                    (133,192)               -      133,192                  -
                                                     -----------      ----------  ------------       ------------
   Loss before income tax benefit                   (1,025,378)        (133,192)     133,192         (1,025,378)
   Income tax benefit                                  (28,761)               -            -             28,761
                                                     -----------      ----------  ------------       ------------
   New loss                                        $  (996,617)      $ (133,192) $   133,192        $  (996,617)
                                                   =============     =========== =============      =============


Calculation of EBITDA:
   Operating loss                                  $  (858,087)      $ (110,728) $         -        $  (968,815)
      Non-cash stock compensation expense                  769                -            -                769
      Depreciation                                      40,678           29,519            -             70,197
      Amortization of intangible assets                 35,803            3,529            -             39,332
      Impairment of goodwill                           452,860            8,060            -            460,920
      Impairment of property and equipment                   -           44,450            -             44,450
      Impairment of intangible assets                  312,043                -            -            312,043
      Loss on disposal of property and equipment         1,074                -            -              1,074
                                                    -----------      ----------  ------------       ------------
   EBITDA, as defined                              $   (14,860)      $  (25,170) $         -        $   (40,030)
</TABLE>

Note: AirGate did not apply push down accounting for the acquisition of iPCS.





