<PAGE>
Filed by TeleCorp PCS, Inc.
Pursuant to Rule 425 under the Securities Act of 1933
And deemed filed pursuant to Rule 14a-12
Of the Securities Exchange Act of 1934
Subject Companies:
TeleCorp PCS, Inc.
Commission File No. 000-27901
Tritel, Inc.
Commission File No. 000-28435
On February 28, 2000, TeleCorp PCS, Inc. ("TeleCorp"), a Delaware
corporation, Tritel, Inc. ("Tritel"), a Delaware corporation, and AT&T Wireless
Services, Inc., a Delaware corporation, executed a definitive Agreement and Plan
of Reorganization and Contribution (the "Merger Agreement"). Additionally, on
February 28, 2000, AT&T Wireless PCS, LLC, a Delaware limited liability company,
TeleCorp, and certain other affiliates of TeleCorp, executed a definitive Asset
Exchange Agreement (the "Asset Exchange Agreement").
THE FOLLOWING ARE COPIES OF CERTAIN SLIDES AND HANDOUTS THAT WILL BE
PRESENTED IN MEETINGS WITH ANALYSTS AND INVESTORS COMMENCING ON OR ABOUT
MARCH 22, 2000.
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[LOGO OF TELECORP]
NASDAQ National Market: TLCP
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[LOGO OF SUNCOM] [LOGO OF AT&T]
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Investment Considerations [LOGO OF TELECORP]
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[_] Dramatic growth in wireless continues
[_] Largest AT&T Wireless affiliate, backed by equity ownership
- Exclusivity, Brand, Roaming, Coverage
[_] Attractive market footprint covering 16.7 million POPs
[_] Successfully launched in all major markets
[_] Abundant spectrum in major markets
[_] Designated entity status provides growth opportunity
[_] Experienced and incentivized management team
[_] Scale and scope through merger with Tritel
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Company History [LOGO OF TELECORP]
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<TABLE>
<S> <C>
July
1996 Gerald Vento & Tom Sullivan founded TeleCorp
April
1997 Obtained PCS licenses for New Orleans, Memphis & Little Rock
July
1998 Closed joint venture with AT&T
July
1998 Received equity commitments of $128 million & bank commitments of $525 million
1st Qtr.
1999 Launched New Orleans, Baton Rouge, Memphis and Little Rock markets
April
1999 Completed $328 million senior subordinated notes offering
April
1999 Launched New England market
April-June
1999 Acquired additional licenses covering 2.4 million Pops in Louisiana markets
May
1999 Purchased additional spectrum in C-Block re-auction
May
1999 Acquired PCS license covering 3.9 million for San Juan, PR MTA from AT&T
June
1999 Launched Puerto Rico market
Nov
1999 Raised $253 million in IPO of 12.8 million shares
Feb
2000 Announced merger with Tritel; AT&T property swap
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</TABLE>
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AT&T Benefits [LOGO OF TELECORP]
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[_] Most recognized and respected brand name in communications
- [LOGO OF SUNCOM] [LOGO OF AT&T] co-branding
[_] Preferred roaming partner to AT&T Wireless, 109 million total roaming
minutes in 1999
- Contiguous to AT&T and affiliate markets
[_] Seamless coast-to-coast coverage
[_] Unique affiliate program
- TeleCorp owns its licenses and pays no franchise fees to AT&T
[_] Scale benefits from volume purchasing discounts
[_] Nationwide marketing and advertising campaigns
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TeleCorp Footprint [LOGO OF TELECORP]
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16.7 million POPs in 3 strategic regions
South/Central Region New England
10.7 MM Pops 1.9 MM Pops
[MAP] [MAP]
Puerto Rico/USVI
3.9 MM Pops
[MAP]
[_] 8 of top 100 markets
[_] Major roaming destinations: 39 million visitors annually
[_] 38% more dense than U.S. average
- ----------------------------
v Telecorp
v Other SunCom affiliates
v AT&T and roaming partners
- ----------------------------
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Proforma TeleCorp Footprint [LOGO OF TELECORP]
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[MAP]
[MAP OF PUERTO RICO]
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[LOGO OF SUNCOM] [LOGO OF AT&T]
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Coast-to-Coast Coverage [LOGO OF TELECORP]
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[MAP]
Puerto Rico/USVI
[MAP OF PUERTO RICO/USVI]
- ----------------------------
v Telecorp
v Other SunCom affiliates
v AT&T and roaming partners
- ----------------------------
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[LOGO OF SUNCOM] [LOGO OF AT&T]
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Wireless Upside - Mobile Data [LOGO OF TELECORP]
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[_] Mobile data will drive future growth
- 35% Internet penetration in U.S.
- Mobile data is next step in wireless connectivity
[_] Huge upside for TeleCorp in mobile data
- AT&T sizable player [GRAPHIC]
- National data-enabled network
[_] Strategy
- Leverage relationship with Lucent and AT&T
- Offer two-way data messaging services
(SunBurst Information Services/Headlines to the Handset)
- Pursue full two-way data and Internet applications (WAP)
- Completed data services trial in January and February 2000
[_] First two-way short message service (SMS) and wireless Internet
applications trial on TDMA network w/ Nokia and Lucent
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Abundant Spectrum Capacity [LOGO OF TELECORP]
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[_] Spectrum increasing in value
- In TeleCorp's major markets we hold more spectrum than our competitors
[_] 30-35 MHz of spectrum
- San Juan
- New Orleans
- Little Rock
- Memphis
[_] Tritel averages 27 MHz
[_] Swap markets average 30 MHz
[_] Capacity for increased traffic, new subscribers and data services
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TeleCorp's Experienced Leadership [LOGO OF TELECORP]
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Gerald T. Vento* Thomas H. Sullivan* Julie Dobson*
Chairman & CEO Executive Vice President & Chief Operating Officer
Chief Financial Officer
[LOGO OF SPRINT [LOGO OF MCDERMOTT, WILL [LOGO OF BELL ATLANTIC]
SPECTRUM] & EMERY]
<TABLE>
<S> <C> <C> <C> <C>
Steve Randy Andy Raul Mitch
Chandler* Johnson* Hearn* Burgos* Johnson*
General Manager General Manager General Manager General Manager General Manager
Memphis Little Rock New Orleans Puerto Rico New England
[LOGO OF BELL [LOGO OF ALLTEL] [LOGO OF ALLTEL] [LOGO OF NEXTEL] [LOGO OF ALLTEL]
SOUTH]
[LOGO OF AT&T]
</TABLE>
[_] Company management averages over 10 years industry experience, including
local market expertise
[_] Fully staffed with over 1030 employees
[_] Management owns 12% of TeleCorp equity (Post-IPO)
* Formerly of
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Operational Milestones YE'1999 [LOGO OF TELECORP]
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[_] Launched 26 markets in 11 months (27 Markets by 1/2000)
[_] Added 142,231 subscribers (over 198,000 by 2/2000)
[_] Carried more than 286 million minutes on network with less than 1% dropped
calls
[_] Generated $87.7 million in revenue
[_] Produced $77 ARPU, excluding roaming revenue
[_] Opened 46 (52 by 3/2000) corporate stores and 523 retail doors
[_] Completed two data services trials in January and February 2000
- First two-way short message service (SMS) and wireless Internet
applications trial on TDMA network
- First demonstration of WAP Services over TDMA
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Targeted Distribution [LOGO OF TELECORP]
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- --------------------------------------------------------------------------------
SunCom Retail Stores
- --------------------------------------------------------------------------------
[_] 52 company owned retail stores
[_] In-line stores & kiosks in high traffic malls
[GRAPHIC]
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Indirect Doors
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[_] Local dealers & agents
[_] National & regional retailers
[_] 523 indirect locations
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[LOGO OF STAPLES]
[LOGO OF CIRCUIT CITY]
[LOGO OF OFFICE DEPORT]
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- --------------------------------------------------------------------------------
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Direct Sales
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[_] 100 account execs
[_] 1-800-suncom-1
[_] www.SunComShop.com
[GRAPHIC]
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
AT&T
- --------------------------------------------------------------------------------
[_] National account program
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- --------------------------------------------------------------------------------
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Service Plans at Competitive Prices [LOGO OF TELECORP]
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[_] . Rate plans are market specific and competitive
- Simple, straightforward consumer plans
- Big bucket rate plans for business
- Prepaid offering
[_] . Usage enhancing features are included
- All plans include: Voicemail, Pager,
Caller ID, Call Waiting, Call Forwarding
Large regional calling areas
[_] . Long-term service contracts are preferred
- 72% of post-paid on contract
[_] . Average subscriber uses
- 400 minutes/month
[ADVERTISEMENT FOR OFFICE DEPOT]
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Network Build Plan [LOGO OF TELECORP]
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<TABLE>
<CAPTION>
Jun 1999 Dec 1999 YE 2000
-------- -------- -------
<S> <C> <C> <C>
Markets 15 major, added: 26 total, added: 39 total, launching:
New Orleans, Baton Lafayette, Houma, Fort Smith, Alexandria,
Rouge, Memphis, Fayetteville, Ponce, Beaumont,Columbia/
Little Rock, San Juan Arecibo and more Jefferson City,
and New England Evansville and more
Cumulative 10.5 million 11.0 million 12.3 million
Launched POPs
Launched 64% 66% 74%
POP Coverage
Cumulative 495 741 1,350
Cell Sites
Cumulative 5 5 7
Switches
</TABLE>
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Financial Highlights [LOGO OF TELECORP]
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[_] . "Best of both worlds" business model
- Strong urban PCS economics:
. 198,000+ Subscribers (2/2000)
. $77+ ARPU (YE'99)
. 405 MOU/month/subscriber (YE'99)
- High margin roaming revenue
. 109 million roaming minutes YE'99
. 39 million visitors per year
[_] . Capitalize on robust subscriber growth and roaming minutes by:
- Accelerating capital deployment
- Increasing investment in capacity and coverage
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Accelerating Growth Drivers 1999 [LOGO OF TELECORP]
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EOM Subscribers
[GRAPH]
(in thousands)
1Q 8.8
2Q 30.9
3Q 75.7
4Q 142.2
Roaming MOUs
[GRAPH]
(in millions)
1Q 6.0
2Q 27.0
3Q 37.0
4Q 39.0
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Income Statement [LOGO OF TELECORP]
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($ in millions) 1Q99 2Q99 3Q99 4Q99 YE99
- --------------------------------------------------------------------------------
Service Revenue $0.5 $5.7 $12.7 $22.4 $41.3
% of Total Revenue 12% 33% 47% 57% 47%
Roaming Revenue 1.8 7.6 9.5 10.1 29.0
% of Total Revenue 43% 44% 35% 25% 33%
Equipment Revenue 1.9 3.8 4.7 7.0 17.4
% of Total Revenue 45% 23% 18% 18% 20%
--------------------------------------------------
Total Revenues $4.2 $17.1 $26.9 $39.5 $87.7
Cost of Revenues 2.7 7.4 13.0 16.2 39.3
* Operations 7.7 7.8 10.4 8.6 34.5
* SG&A 18.0 25.3 35.4 54.7 133.4
--------------------------------------------------
EBITDA ($24.2) ($23.4) ($31.9) ($40.0) ($119.5)
Depreciation and Amortization 2.8 13.7 18.3 20.3 55.1
* Operating Income (Loss) ($27.0) ($37.1) ($50.2) ($60.3) ($174.6)
* Excludes NCSC
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Committed Capital [LOGO OF TELECORP]
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[GRAPH]
($ in millions)
---------------------
IPO $253
---------------------
Cash Equity $205
---------------------
Non-Cash Equity $149
---------------------
Bank Debt $560
---------------------
Discount Notes $328
---------------------
Vendor Financing $115
---------------------
Total $1,610
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TeleCorp/Tritel/AWS Swap [LOGO OF TELECORP]
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Two Concurrent Deals:
- ---------------------
Merger with Tritel, Inc.
Exchange & acquisition of properties w/ AT&T Wireless Services
- TeleCorp New England properties for markets in Wisconsin
(Milwaukee) and Iowa (Des Moines)
Merger
$4.7B (at close of 3/10/00) - all stock, tax-free, fixed ratio
Tritel shareholders will receive .76 shares of TeleCorp common stock
for 1 share of Tritel common stock
Exchange & Acquisition
Exchange 1.9M POPs in New England market for 1.9M POPs in Wisconsin &
Iowa and $100M of cash
Acquisition of 4.1 million POPs in Wisconsin and Iowa for 9.3 million
shares of TeleCorp stock to AT&T
AT&T contractual right for additional 1.4M POPs if acquired
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Strategic Rational [LOGO OF TELECORP]
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. Strategic fit
- Formation of single designated entity vehicle
- Delivers contiguous markets covering 35 million Pops
- Provides operating efficiencies and scale
- Enhances data strategy
. Strong and growing markets
- Top ten carrier, 3rd largest PCS Carrier
- 14 states and Puerto Rico
- 16 of the top 100 markets
. Two largest AT&T affiliates
- SunCom brand name
- TDMA technology
- Like culture
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Combined Highlights [LOGO OF TELECORP]
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[_] Corporate Headquarters - Arlington, Va.
[_] 245,000 SunCom subscribers
[_] 1,715 total employees
[_] 1,313 cell sites
[_] 10 switches
[_] 86 SunCom stores
[_] 800 retail outlets
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<PAGE>
Investment Considerations [LOGO OF TELECORP]
================================================================================
[_] Dramatic growth in wireless continues
[_] Largest AT&T Wireless affiliate, backed by equity ownership
- Exclusivity, Brand, Roaming, Coverage
[_] Attractive market footprint covering 16.7 million POPs
[_] Successfully launched in all major markets
[_] Abundant spectrum in major markets
[_] Designated entity status provides growth opportunity
[_] Experienced and incentivized management team
[_] Scale and scope with Tritel merger
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[LOGO OF SUNCOM] [LOGO OF AT&T]
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[LOGO OF TELECORP]
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A joint proxy statement/prospectus will be filed by TeleCorp PCS, Inc.
("TeleCorp") and Tritel, Inc. ("Tritel") with the Commission as soon as
practicable. WE URGE INVESTORS TO READ THE JOINT PROXY STATEMENT/PROSPECTUS AND
ANY OTHER RELEVANT DOCUMENTS TO BE FILED WITH THE COMMISSION, BECAUSE THEY
CONTAIN IMPORTANT INFORMATION. Investors and security holders may obtain a free
copy of the joint proxy statement/prospectus and other documents filed by
TeleCorp and Tritel with the Commission at the Commission's web site at
www.sec.gov. The joint proxy statement/prospectus and other documents filed with
the Commission by TeleCorp may also be obtained for free from TeleCorp by
directing a request to TeleCorp PCS, Inc., 1010 N. Glebe Road, Suite 800,
Arlington, VA 22201, telephone: (703) 236-1100. In addition, the joint proxy
statement/prospectus and other documents filed with the Commission by Tritel may
be obtained for free from Tritel by directing a request to Tritel, Inc., 111 E.
Capitol Street, Suite 500, Jackson, MS 39201, Attention: Shareholder Relations,
telephone: (601) 914-8000.
EXECUTIVE OFFICERS, DIRECTORS AND EMPLOYEES OF TELECORP MAY SOLICIT PROXIES FROM
TELECORP SHAREHOLDERS IN FAVOR OF THE TRANSACTIONS CONTEMPLATED ABOVE.
INFORMATION CONCERNING THE INTERESTS OF THE PARTICIPANTS IN THE SOLICITATION IS
INCLUDED IN THE CURRENT REPORT ON FORM 8-K/A FILED WITH THE COMMISSION BY
TELECORP PCS, INC. ON MARCH 10, 2000.
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Safe Harbor
- -----------
Except for historical information, the matters discussed in this
presentation that may be considered forward-looking statements could be
subject to certain risks and uncertainties that could cause the actual
results to differ materially from those projected. These include timing
and success of regulatory approval and uncertainties in the market,
competition, legal and other risks detailed in TeleCorp PCS, Inc.'s
registration statement filed with the SEC on Form S-1, as amended or
supplemented (file no. 333-81813) and Tritel, Inc.'s registration
statement filed with the SEC on Form S-1, as amended or supplemented
(file no. 333-91207). TeleCorp PCS, Inc. and Tritel, Inc. assume no
obligation to update information in this presentation.
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NASDAQ National Market: TLCP
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