Crown Castle International Files Universal Shelf Registration Statement

July 11, 2000 at 12:00 AM EDT

HOUSTON – JULY 11, 2000 – Crown Castle International Corp. (NASDAQ:TWRS) announced today that it has filed a “universal shelf” registration statement on SEC Form S-3 with the Securities and Exchange Commission for up to $1,133.2 million of Common Stock, Preferred Stock, Warrants, Senior Debt and Subordinated Debt.

“Our recent capital market activities, including the issuance of $500 million in senior notes as well as the sale of Crown Castle shares by France Telecom, reduced the capacity under our previously filed shelf registration statements to less than $400 million,” stated Ben Moreland, Crown Castle’s chief financial officer. “Our decision to file this universal shelf brings our total shelf capacity to $1.5 billion, and will provide Crown Castle with greater financial flexibility in the future.”

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. Any securities offered pursuant to this universal shelf registration statement will only be offered pursuant to a prospectus supplement meeting the requirements of the Securities Act of 1933. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful.

Crown Castle International Corp. engineers, deploys, owns and operates technologically advanced shared wireless infrastructure, including extensive networks of towers and rooftops as well as analog and digital audio and television broadcast transmission systems. The Company offers near-universal broadcast coverage in the United Kingdom and significant wireless communications coverage to 68 of the top 100 United States markets, more than 95 percent of the UK population and more than 92 percent of the Australian population. Pro forma for all closed and previously announced transactions, Crown Castle International owns, operates and manages over 11,000 wireless communication towers internationally. For more information on Crown Castle International, visit: www.crowncastle.com.

This press release contains 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 Crown Castle 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. More information about potential factors, which could affect the company's financial results, is included in the Risk Factors sections of the company's filings with the Securities and Exchange Commission. The company assumes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

Contacts:

W. Benjamin Moreland, CFO
Crown Castle International
713-570-3000

Ken Dennard
Easterly Investor Relations
kdennard@easterly.com
713-529-6600

 

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