investors

HOUSTON, Feb. 15 /PRNewswire/ -- Crown Castle International Corp. (Nasdaq: TWRS) today reported record results for the fourth quarter and year ended December 31, 2000.

Revenues for the fourth quarter of 2000 increased 77 percent to $202.0 million compared to $114.2 million during the fourth quarter of 1999. Tower cash flow for the fourth quarter increased 40 percent to $61.0 million, up from $43.5 million in last year's fourth quarter. Fourth quarter earnings before interest, taxes, depreciation and amortization, or EBITDA, grew 46 percent to $69.0 million compared to $47.3 million in last year's fourth quarter. Fourth quarter loss per share was $0.40 compared to a loss per share of $0.27 in last year's fourth quarter.

During the fourth quarter, the Company built 243 towers and acquired 177 towers. Net of anchor tenants on newly-built towers, the Company added 1,623 new tenants during the fourth quarter, representing an annualized co- location rate of .52 tenants per tower on the 12,489 sites owned and managed at the beginning of the quarter. Annual same tower wireless revenue growth was 32 percent for the 7,488 towers owned and operated by the Company on December 31, 1999.

Revenues for 2000 increased 88 percent to $649.2 million from $345.8 million during 1999. Tower cash flow for 2000 increased 58 percent to $221.2 million from $140.0 million in 1999. EBITDA for 2000 grew 77 percent to $247.1 million compared to $139.8 million in 1999. Loss per share for 2000 was $1.48 compared to a loss per share of $0.96 in 1999.

"Highlights during the quarter included our agreement with BT to lease 4,000 exchange sites in the UK that will provide our customers with an unrivaled platform of wireless sites for 2G and 3G wireless deployments, as well as access to fiber connectivity," stated Ted B. Miller, Jr., Chairman and CEO of Crown Castle International. "Operationally, our organic leasing performance continues to be very strong, reflecting both the quality of our assets and the continued demand from our wireless carrier customers. We also continue to increase the scope of services work, further strengthening our relationships with the major wireless service providers in the US, the UK, and Australia."

OUTLOOK

The following statements are based on current expectations and assume a US dollar to UK pound exchange rate of 1.45 dollars to 1.00 pound and a US dollar to Australian dollar exchange rate of 0.52 US dollars to 1.00 Australian dollar. The following Outlook sections contain forward-looking statements, and actual results may differ materially.

Outlook for Q1 2001

The Company expects first quarter 2001 site rental and broadcast transmission revenue to be between $128 million and $132 million, assuming that new tenants are added to existing towers at an annualized rate of between .40 tenants per tower and .50 tenants per tower during the quarter. The Company expects first quarter network services revenue to be between $56 million and $73 million. The Company expects total revenue to be between $184 million and $205 million during the first quarter. The Company expects first quarter EBITDA of between $70 million and $74 million.

The Company expects to build approximately 225 to 275 new towers during the first quarter, comprised of between 200 and 225 in the US and between 25 and 50 in the UK. The Company expects total capital expenditures to be between $225 million and $250 million during the first quarter. The Company expects total interest expense, net of interest income, to be between $50 million and $60 million for the first quarter.

Outlook for Year 2001

The Company expects revenue to be between $850 million and $900 million for calendar year 2001, assuming that new tenants are added to existing towers at an annualized rate of between .40 tenants per tower and .50 tenants per tower during the year. The Company expects EBITDA to be between $340 million and $350 million during year 2001.

During year 2001, the Company expects to build approximately 1,250 to 1,750 new towers, comprised of between 900 and 1,100 towers in the US and between 350 and 650 towers in the UK. The Company expects total capital expenditures to be between $750 million and $850 million and expects total interest expense, net of interest income, to be between $235 million and $250 million during year 2001.

Crown Castle has scheduled a conference call for Thursday, February 15, 2001 at 10:00 a.m. Eastern Time (9:00 a.m. Central Time). To participate in the Crown Castle call, dial (719) 457-2661 at least ten minutes before the conference call begins and ask for the Crown Castle conference call. A replay of the call will be available approximately two hours after the live broadcast ends and will be accessible until February 22, 2001. To access the replay, dial (719) 457-0820 using a pass code of 627489.

Investors, analysts and the general public will also have the opportunity to listen to the conference call free over the Internet by visiting the Company's website at www.crowncastle.com. To listen to the live call on the web, please visit the Website at least fifteen minutes early to register, download and install any necessary audio software. For those who cannot listen to the live Webcast, an archive will be available shortly after the call.

Crown Castle engineers, deploys, owns and operates technologically advanced, shared wireless infrastructure. It offers near-universal broadcast coverage in the United Kingdom and significant wireless communications coverage to 68 of the top 100 US 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 owns, operates, and manages over 13,000 wireless communication towers internationally. For more information on Crown Castle, visit: www.crowncastle.com.

This press release contains forward-looking statements and information that are based on management's beliefs as well as assumptions made by and information currently available to management. Such forward-looking statements include, but are not limited to, expectations, projections and estimates regarding (i) the success of our previously negotiated transactions and agreements, (ii) demand for our assets and services, (iii) the US dollar to UK pound exchange rate, (iv) the US dollar to Australian dollar exchange rate, (v) site rental and broadcast transmission revenue and EBITDA, (vi) new tenant co-location rates, (vii) network services revenue and EBITDA, (viii) towers to be constructed, (ix) capital expenditures, (x) interest expense, and (xi) total revenues and total EBITDA during 2001.

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, including, but not limited to the success or failure of our efforts to implement our business strategy and the following:

• We may be unable to manage our significant growth.

• Our substantial level of indebtedness could adversely affect our ability to react to changes in our business and limit our ability to use debt to fund future capital needs.

• If we are unable to service our indebtedness, our indebtedness may be accelerated.

• Restrictive covenants on our debt instruments may limit our ability to take actions that may be in our best interests.

• We may be unable to raise the significant capital required to fund our operations and make acquisitions.

• We may not be able to construct or acquire new towers at the pace and in the locations that we desire.

• Our business depends on the demand for wireless communications.

• Demand for our network services business is very volatile which causes our network services operating results to vary significantly for any particular period.

• We operate in an increasingly competitive industry and many of our competitors have significantly more resources than we do.

• Extensive regulations, which could change at any time, govern our business and industry, and we could fail to comply with these regulations.

• We could suffer from future claims if radio frequency emissions from equipment on our towers is demonstrated to cause negative health effects.

• Our international operations expose us to changes in foreign currency exchange rates.

• We are heavily dependent on our senior management.

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.

Contacts: W. Benjamin Moreland, CFO

                Crown Castle International
                713-570-3000

                Ken Dennard, Easterly I.R.
                kdennard@easterly.com
                713-529-6600

Crown Castle International Corp.

Condensed Consolidated Statement of Operations

And Other Financial Data

(in thousands, except per share data)

                                 Three Months Ended          Year Ended
                                    December 31,            December 31,
                                  2000        1999       2000        1999
    Net revenues:
      Site rental and
       broadcast transmission   $125,621    $84,759    $446,039    $267,894
      Network services and other  76,352     29,437     203,126      77,865
        Total net revenues       201,973    114,196     649,165     345,759
    Costs of operations:
      Site rental and
       broadcast transmission     55,191     36,418     194,424     114,436
      Network services and other  49,275     15,443     120,176      42,312
        Total costs of
         operations              104,466     51,861     314,600     156,748
    General and administrative    24,400     13,747      76,944      43,823
    Corporate development          4,074      1,269      10,489       5,403
    Restructuring charges            ---      3,831         ---       5,645
    Non-cash compensation charges  1,508        501       3,127       2,173
    Depreciation and amortization 71,431     40,737     238,796     130,106
    Operating income (loss)       (3,906)     2,250       5,209       1,861
    Interest and other income
     (expense)                    11,175      4,929      33,761      17,731
    Interest expense &
     amortization of deferred
     financing costs             (67,307)   (38,560)   (241,294)   (110,908)
    Loss before income taxes,
     minority interests,
     extraordinary item and
     cumulative effect of
     change in accounting
     principle                   (60,038)   (31,381)   (202,324)    (91,316)
    Provision for income taxes       (83)        (7)       (246)       (275)
    Minority interests             1,085     (1,569)       (721)     (2,756)
    Loss before extraordinary
     item and cumulative effect
     of change in accounting
     principle                   (59,036)   (32,957)   (203,291)    (94,347)
    Extraordinary item:
      Loss on early
       extinguishment of debt        ---        ---      (1,495)        ---
    Cumulative effect of change
     in accounting principle
     for costs of start-up
     activities                      ---        ---         ---      (2,414)
    Net loss                     (59,036)   (32,957)   (204,786)    (96,761)
    Dividends on preferred stock (19,898)    (9,035)    (59,469)    (28,881)
    Net loss after deduction
     of dividends on preferred
     stock                      $(78,934)  $(41,992)  $(264,255)  $(125,642)
    Per common share - basic
     and diluted:
      Loss before extraordinary
       item and cumulative effect
       of change in accounting
       principle                  $(0.40)    $(0.27)     $(1.47)     $(0.94)
      Extraordinary item             ---        ---       (0.01)        ---
      Cumulative effect of
       change in accounting
       principle                     ---        ---         ---       (0.02)
      Net loss                    $(0.40)    $(0.27)     $(1.48)     $(0.96)
    Common shares outstanding -
     basic and diluted           198,399    156,662     178,588     131,466
    EBITDA (before restructuring
     charges):
      Site rental and broadcast
       transmission              $60,983    $43,531    $221,237    $139,966
      Network services and other   8,050      3,788      25,895        (181)
        Total EBITDA             $69,033    $47,319    $247,132    $139,785

CROWN CASTLE INTERNATIONAL CORP.

Towers & Tenants Fact Sheet

                      Quarter Ended 3/31/00         Quarter Ended 6/30/00
                        US     UK    Total       US      UK     AUS   Total
    Sites:
      Owned Towers    6,351   2,146  8,497     8,379   2,196    ---  10,575
      Managed Towers     13     ---     13        13     ---    716     729
      Rooftop Sites      98      51    149        98      51    ---     149
    Total Sites       6,462   2,197  8,659     8,490   2,247    716  11,453

    Site Activity:
      Beginning Sites 5,417   2,071  7,488     6,462   2,197    ---   8,659
      Built             182     126    308       247      50    ---     297
      Acquired          864     ---    864     1,781     ---    716   2,497
      Lost               (1)    ---     (1)      ---     ---    ---     ---
      Managed Sites
       Added            ---     ---    ---       ---     ---    ---     ---
    Ending Sites      6,462   2,197  8,659     8,490   2,247    716  11,453

                      Quarter Ended 9/30/00         Quarter Ended 12/31/00
                    US      UK    AUS   Total     US      UK    AUS   Total
    Sites:
      Owned
       Towers      9,359  2,252   188  11,799    9,752  2,279   249  12,280
      Managed
       Towers         13    ---   528     541       13    ---   467     480
      Rooftop Sites   98     51   ---     149      107     51   ---     158
    Total Sites    9,470  2,303   716  12,489    9,872  2,330   716  12,918

    Site Activity:
      Beginning
       Sites       8,490  2,247   716  11,453    9,470  2,303   716  12,489
      Built          274     56   ---     330      216     27   ---     243
      Acquired       714    ---   ---     714      177    ---   ---     177
      Lost            (8)   ---   ---      (8)     ---    ---   ---     ---
      Managed
       Sites Added   ---    ---   ---     ---        9    ---   ---       9
    Ending Sites   9,470  2,303   716  12,489    9,872  2,330   716  12,918


                      Quarter Ended 3/31/00         Quarter Ended 6/30/00
                        US     UK    Total       US      UK     AUS   Total
    Tenant Activity:
      Beginning
       Tenants       11,306   3,995 15,301    13,125   4,321     --- 17,446
      Anchors on
       Builds           123     126    249       105      50     ---    155
      New               578     200    778       864     227     ---  1,091
      Acquired        1,118     ---  1,118     2,243     ---   1,061  3,304
    Ending Tenants   13,125   4,321 17,446    16,337   4,598   1,061 21,996

                     Quarter Ended 9/30/00        Quarter Ended 12/31/00
                   US     UK    AUS   Total      US     UK     AUS    Total
    Tenant Activity:
      Beginning
       Tenants   16,337  4,598 1,061  21,996  18,422   4,848  1,231  24,501
      Anchors on
       Builds        89     56   ---     145     114      27    ---     141
      New           918    194   170   1,282   1,123     319    181   1,623
      Acquired    1,078    ---   ---   1,078     218     ---    ---     218
    Ending
     Tenants     18,422  4,848 1,231  24,501  19,877   5,194  1,412  26,483


                      Quarter Ended 3/31/00         Quarter Ended 6/30/00
                        US     UK    Total       US      UK      AUS  Total
    Tenants per Site    2.0     2.0    2.0       1.9     2.0     1.5    1.9

    New Tenants per
     Site*             0.13    0.15   0.13      0.14    0.12     ---   0.14
    Annualized         0.50    0.59   0.53      0.58    0.49     ---   0.56

    Pure Co-Lo's per
     Site**            0.11    0.10   0.10      0.13    0.10     ---   0.13
    Annualized         0.43    0.39   0.42      0.53    0.41     ---   0.50

                      Quarter Ended 9/30/00        Quarter Ended 12/31/00
                   US      UK     AUS   Total    US      UK      AUS  Total
    Tenants per
     Site           1.9    2.1    1.7     2.0     2.0    2.2     2.0    2.1

    New Tenants
     per Site*     0.11   0.11   0.24    0.12    0.13   0.15    0.25   0.14
    Annualized     0.46   0.43   0.95    0.48    0.51   0.59    1.01   0.55

    Pure Co-Lo's
     per Site**    0.11   0.09   0.24    0.11    0.12   0.14    0.25   0.13
    Annualized     0.43   0.35   0.95    0.45    0.47   0.55    1.01   0.52

• Excludes acquired towers and acquired tenants

** Excludes acquired towers, acquired tenants, newly built towers, and

anchor tenants added during the quarter

                                         Quarter Ended 12/31/00
                              US             UK           AUS         Total
    Actual Monthly Lease
     Rates per New Tenant,
     USD
      Broadband Tenants      1,496           551        1,063         1,279
      Narrowband Tenants       552           406          304           387

    Avg Monthly Lease Rate
     per New Broadband Tenant
      Local Currency         1,445           370        1,170
      US Dollars             1,445           537          644

    Assumed Broadband Rate,
     USD                     1,500           650        1,000

    New Tenants              1,123           319          181         1,623
    Broadband Equivalent
     New Tenants             1,082           264          116         1,462

    BBE Co-Lo's per Site      0.11          0.11         0.16          0.12
    Annualized                0.46          0.46         0.65          0.47

SOURCE Crown Castle International Corp.

CONTACT: W. Benjamin Moreland, CFO of Crown Castle International Corp., 713-570-3000; or Ken Dennard of Easterly I.R., 713-529-6600, or kdennard@easterly.com, for Crown Castle International Corp./