UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934
(Amendment No. 5)*

  Leap Wireless International, Inc.  

(Name of Issuer)

  Common Stock, Par Value $.0001 Per Share  

(Title of Class of Securities)

     521863308     

(CUSIP Number)

Doron Lipshitz, Esq.
O’Melveny & Myers LLP
7 Times Square
New York, New York 10036
          (212) 326-2061          
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)

 January 29, 2008 
(Date of Event which Requires Filing
of this Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box o.

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §240.13d-7 for other parties to whom copies are to be sent.

* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

Continued on following pages

CUSIP No.		521863308

CUSIP No.		521863308

CUSIP No.		521863308

CUSIP No.		521863308

     This Statement on Schedule 13D (this “Statement”) further amends and supplements, as Amendment No. 5, the Schedule 13D filed on August 26, 2004 (the “Original Schedule 13D”), which was amended and restated on December 19, 2007 by Amendment No. 1 to the Original Schedule 13D (“Amendment No. 1”), on December 20, 2007 by Amendment No. 2 to the Original Schedule 13D (“Amendment No. 2”), on December 21, 2007 by Amendment No. 3 to the Original Schedule 13D and on December 24, 2007 by Amendment No. 4 to the Original Schedule 13D ((“Amendment No. 4”) and, together with the Original Schedule 13D, Amendment No. 1, Amendment No. 2 and Amendment No. 3, the “Schedule 13D”) and relates to the shares of common stock, par value $0.0001 per share (the “Common Stock”), of Leap Wireless International, Inc. (the “Issuer”). Capitalized terms used in this Statement but not defined herein shall have the respective meanings given to such terms in the Schedule 13D.

     This Statement is being filed by the Reporting Persons to report that on January 29, 2008, the Escrow Agent released from escrow all shares of Common Stock previously held by the Escrow Agent under the Escrow Agreement after the U.S. Federal Trade Commission granted early termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the “HSR Act”).

Item 4. Purpose of Transaction

     Item 4 is hereby amended as follows:

     The fifth paragraph under the title “Item 4. Purpose of Transaction” is hereby amended to add the following as the last sentence thereof:

      On January 29, 2008, the Escrow Agent released from escrow all shares of Common Stock previously held by the Escrow Agent under the Escrow Agreement after the U.S. Federal Trade Commission granted early termination of the applicable waiting period under the HSR Act.

SIGNATURES

     After reasonable inquiry and to the best of my knowledge and belief, the undersigned certifies that the information set forth in this Statement is true, complete and correct.

Date: January 31, 2008		MHR INSTITUTIONAL PARTNERS IIA LP
		By:		MHR Institutional Advisors II LLC, its General Partner
		By:		/s/ Hal Goldstein
		Name: Hal Goldstein
		Title: Vice President

		MHR INSTITUTIONAL ADVISORS II LLC
		By:		/s/ Hal Goldstein
		Name: Hal Goldstein
		Title: Vice President
		MHR FUND MANAGEMENT LLC
		By:		/s/ Hal Goldstein
		Name: Hal Goldstein
		Title: Vice President
		MARK H. RACHESKY, M.D.
		By:		/s/ Hal Goldstein, Attorney in Fact