Crown Castle International Raises $450 Million in Senior Notes Offering

May 11, 2001 at 6:34 AM EDT

HOUSTON, May 11 /PRNewswire/ -- Crown Castle International Corp. (NYSE: CCI) announced today that it priced $450 million of its 9.375% Senior Notes due 2011. This represents an increase over the proposed $350 million Senior Notes offering previously announced. The net proceeds of the offering will be used as long term alternative financing to the Company's bank facility to finance the construction of towers, to fund any potential acquisitions and for general corporate purposes. Closing of the offering is scheduled for Wednesday, May 16, 2001.

The notes will be offered to qualified institutional buyers under Rule 144A and to persons outside of the United States under Regulation S. The notes will not be registered under the Securities Act of 1933, as amended (the "Securities Act"), or any state securities laws, and, unless so registered, may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act and applicable state securities laws.

This press release contains various forward-looking statements and information that are based on management's beliefs, 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 the potential factors which could affect Crown Castle's financial results is included in the Risk Factors sections of Crown Castle's filings with the Securities and Exchange Commission and in previous press releases issued by Crown Castle.

Contacts: W. Benjamin Moreland, CFO

                  Crown Castle International
                  713-570-3000

                  Ken Dennard / kdennard@easterly.com
                  Lisa Elliott / lisae@easterly.com
                  Easterly Investor Relations
                  713-529-6600

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SOURCE Crown Castle International Corp.

CONTACT: W. Benjamin Moreland, CFO of Crown Castle International Corp., 713-570-3000; or Ken Dennard, kdennard@easterly.com, or Lisa Elliott, lisae@easterly.com, both of Easterly Investor Relations, 713-529-6600, for

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