Crown Castle International Announces Completion of Consent Solicitation

September 21, 2006 at 8:02 AM EDT

HOUSTON--(BUSINESS WIRE)--Sept. 21, 2006--Crown Castle International Corp. (NYSE: CCI) announced today that certain of its indirect U.S. subsidiaries ("Issuers") have successfully completed their previously announced solicitation of consents from the holders of the Issuers' Senior Secured Tower Revenue Notes, Series 2005-1 ("Notes") to certain proposed amendments to the indenture ("Indenture") governing the Notes and the related management agreement.

As of 5:00 p.m., New York City time, on September 20, 2006 ("Expiration Date"), the Issuers had received the requisite consents of holders of at least a majority in principal amount of the outstanding Notes (excluding Notes owned by the Issuers or any of their respective affiliates). As described in the Consent Solicitation Statement and related Consent Letter dated September 6, 2006 ("Consent Materials"), the Issuers will pay a consent payment equal to $2.50 per $1,000 principal amount of Notes to each holder of record as of 5:00 p.m., New York City time, on September 6, 2006, who delivered (and did not revoke) a valid consent prior to the Expiration Date. The consent payments will be made as soon as practicable. For a complete statement of the terms and conditions of the consent solicitation and the proposed amendments, holders of the Notes should refer to the Consent Materials.

Morgan Stanley and Lehman Brothers are serving as the Joint Lead Solicitation Agents for the consent solicitation. Questions regarding the consent solicitation may be directed to Morgan Stanley at (800) 624-1808 (toll-free) or (212) 761-1864 (collect), or in writing at 1585 Broadway, New York, NY 10036, Attention: Liability Management Group, or to Lehman Brothers at (212) 526-9660, or in writing at 745 Seventh Avenue, New York, NY 10019, Attention: Structured Finance Product Management. MacKenzie Partners, Inc. is serving as Information Agent for the consent solicitation. Requests for documents may be directed to MacKenzie Partners, Inc. by telephone at (800) 322-2885 (toll-free) or (212) 929-5500 (collect), or in writing at 105 Madison Avenue, New York, NY 10016, Attention: Kevin Auten.

Crown Castle International Corp. engineers, deploys, owns and operates technologically advanced shared wireless infrastructure, including extensive networks of towers. Crown Castle offers significant wireless communications coverage to 76 of the top 100 United States markets and to substantially all of the Australian population. Crown Castle owns, operates and manages over 11,000 and over 1,300 wireless communication sites in the U.S. and Australia, respectively. For more information on Crown Castle visit: http://www.crowncastle.com.

Cautionary Language Regarding Forward-Looking Statements

This press release contains forward-looking statements that are based on our management's current expectations. Such statements include, but are not limited to plans, projections and estimates regarding the terms of the consent solicitation relating to the Notes. Such forward-looking statements are subject to certain risks, uncertainties and assumptions, including prevailing market conditions and other factors. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those expected. More information about potential risk factors which could affect our results is included in our filings with the Securities and Exchange Commission.


    CONTACT: Crown Castle International Corp.
             W. Benjamin Moreland or Jay Brown, 713-570-3000

    SOURCE: Crown Castle International Corp.

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