Crown Castle International Closes First Of Its Transactions With BellSouth
JUNE 7, 1999 HOUSTON, TEXAS Crown Castle International Corp. (NASDAQ:TWRS) announced today that it has closed its first transaction with BellSouth Corporation (NYSE:BLS). This closing involves wireless communications towers located in Kentucky and Indiana and is part of several closings to be completed in Crown Castle's previously announced 1,850 tower transaction with BellSouth.
"We are pleased to have closed this first transaction with BellSouth for towers in Kentucky and Indiana, two very exciting markets with significant lease-up opportunities based upon our extensive drive testing and analysis," stated Ted B. Miller, Jr., Chairman and CEO of Crown Castle International. "We have now commenced marketing and managing these tower clusters as well as the construction on the associated contracted build-to-suit towers for the Kentucky and Indiana markets. Looking forward, our closings for the remaining BellSouth regions are proceeding on schedule."
Crown Castle International Corp. is a leading provider of communication sites and wireless network services and provides an array of related infrastructure and network support services to the wireless communications and radio and television broadcasting industries in the United States and United Kingdom. Pro forma for all previously announced transactions, Crown Castle International owns, operates and manages over 6,000 wireless communication towers internationally. For more information on Crown Castle International, visit: www.crowncastle.com.
BellSouth is a $23 billion communications services company. It provides telecommunications, wireless communications, cable and digital TV, directory advertising and publishing, and Internet and data services to nearly 34 million customers in 19 countries worldwide.
This press release contains various forward-looking statements and information that are based on management's belief as well as assumptions made by and information currently available to management. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Such statements are subject to certain risks, uncertainties and assumptions. Should one or more of these risks materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those expected.
Contacts:
For: Crown Castle International:
Ken Dennard, Easterly Investor Relations
kdennard@easterly.com
713-529-6600
For: BellSouth Corporation:
Jeff Battcher
404-713-0274