Crown Castle Receives Commitment For New $1.2 Billion Credit Facility

January 25, 2000 at 12:00 AM EST
JANUARY 25, 2000 – HOUSTON, TEXAS – Crown Castle International Corp. (NASDAQ:TWRS) today announced that it has received a commitment for a new $1.2 billion credit facility. The facility is led by Chase Securities Inc., Credit Suisse First Boston, Key Corporate Capital and Scotiabank and is expected to close by the end of the first quarter. Upon closing, Crown Castle will repay all borrowings outstanding under its existing restricted group credit facilities. The new facility will be used to provide financing to include previously announced transactions scheduled to close in 2000, international growth opportunities and the ongoing build-out of Crown Castle’s clusters in strategic US markets.

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 closed and previously announced transactions, Crown Castle International owns, operates and manages approximately 10,000 wireless communication towers internationally. For more information on Crown Castle International, visit: www.crowncastle.com.

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. The Company assumes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

Contacts:

Charles C. Green, III
CFO, Crown Castle International
713-570-3000

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

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