AUGUST 3, 1999 HOUSTON, TEXAS Crown Castle International Corp.
(NASDAQ:TWRS) announced today that the Company has closed on two notes offerings and has
received combined gross proceeds of approximately $275 million. The notes offerings
included gross proceeds of $125 million of 9.5% Senior Notes due 2011 and approximately
$150 million of 11.25% Senior Discount Notes due 2011. The securities were offered by
joint book-running underwriters Goldman, Sachs & Co. and Salomon Smith Barney. The net
proceeds will be used to finance the recently announced BellSouth DCS transaction and for
working capital and general corporate purposes.
These offerings have not been registered under the Securities Act of
1933 or any state securities laws and, unless so registered, may not be offered or sold
except pursuant to an exemption from, or in a transaction not subject to, the registration
requirements of the Securities Act of 1933 and applicable state securities laws. A copy of
the prospectus may be obtained from Goldman Sachs or Salomon Smith Barney.