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05.08.13

C Spire Wireless teams up with TowerCo on expanded initiative to lease space on carrier's cell sites

Ridgeland, Miss. - (May 8, 2013) – C Spire Wireless is doing its part to reduce industry demand for new wireless communication facilities by expanding efforts to lease space on its cell sites to competing carriers.

The company has pursued similar programs in the past, but announced an expanded program today with North Carolina-based TowerCo to market and offer leased space on all of its cell sites with available capacity. The program will allow other wireless carriers to locate their facilities on C Spire cell sites, thus reducing construction costs and the need to build new structures.

"TowerCo is a recognized leader in the wireless infrastructure industry and has built a reputation for tower marketing and colocation simplicity," said David Smith, vice president of Network Engineering for C Spire Wireless.  "Their skills in colocation will allow us to focus even more on providing our customers with one of the best mobile broadband experiences anywhere."

Smith said the agreement with TowerCo will cover all marketing and colocation processing responsibilities for each of the company's cell sites with available capacity.  "It's essentially a turn-key solution that leverages their strengths while allowing us to maintain management of all other company functions."

Any wireless provider interested in leasing space on C Spire cell sites with available capacity can access the portfolio of company locations through TowerCo's "Tower Finder" link at www.towerco.com. In addition, current tenants who are considering modifications can contact TowerCo. Details on each of the C Spire cell sites available for colocation can be accessed by companies once they register at the TowerCo website.

TowerCo CEO Richard Byrne expressed his support of the partnership. "C Spire is a natural fit for us. Combining their expertise in providing coverage and networking quality for their customers with our track record of tower management ensures a successful partnership," Byrne said.

With over 190,000 existing cell sites in the U.S. representing an investment of over $28.5 billion in construction costs alone, more providers need to consider C Spire's approach in managing their overall cell site portfolio, according to Smith.  "Sharing space and capacity on existing cell sites and avoiding new construction and potential community and local government challenges is a best practice that the industry needs to more fully embrace," he added.

About TowerCo
TowerCo meets the infrastructure needs of wireless service providers by developing, owning and leasing communication towers. Based in Cary, NC, the company was founded in 2004 by industry veterans Richard Byrne (CEO) and Scot Lloyd (COO). TowerCo currently owns or exclusively manages 585 cell towers throughout the United States. TowerCo is backed by funding from investors Tailwind Capital and Soros Strategic Partners. For more information, visit www.TowerCo.com.

About C Spire Wireless
C Spire Wireless is a diversified wireless communications and technology services company passionately committed to helping customers by personalizing wireless services designed just for them.  The company is the first wireless provider in the U.S. to personalize customers' experience by providing recommendations for apps, music, movies and books that fit who they are, services that anticipate their needs, and rewards for using their phone in new ways – all with seamless ease and at 3G and 4G speeds. For more information about C Spire Wireless and its products and services, visit www.cspire.com or follow us on Facebook at www.facebook.com/cspire, YouTube at www.youtube.com/cspire, Twitter at www.twitter.com/cspire, Google+ or Pinterest at www.pinterest.com/cspirewireless.

 

Contact: 

Daniel Hunt, TowerCo
(919) 469-5593
dhunt@towerco.com

Dave Miller, C Spire
(601) 974-7725
dnmiller@cspire.com

10.18.12

TowerCo Announces Tower Purchase Agreement

Agreement to Purchase 119 Towers from Iowa Wireless Services (IWS) Begins Next Chapter for TowerCo Management Team

Cary, NC (October 18, 2012) – TowerCo announced today that it has signed an agreement to purchase 119 towers from Iowa Wireless Services (IWS) along with a five-year exclusive build-to-suit agreement and the opportunity to acquire future towers IWS may bring to market. The transaction is valued at $45.5mm and is expected to close fourth quarter of 2012.

IWS CEO Craven Shumaker said, “The TowerCo deal provides i wireless financial flexibility and will support our recently announced Des Moines market expansion and statewide network investment to bring our customers a stronger and faster 4G experience.”

On October 1, 2012, TowerCo sold all 3,252 of its towers, and many speculated that the management team would not be out of the industry long. Richard Byrne, CEO of TowerCo, said, "We enjoyed our two weeks off and are excited to start this next chapter in TowerCo's history. Once again, we have picked a great wireless operating team to build a relationship with and we couldn't be happier.”

Kevin Brynestad of Alpina Capital, LLC worked as M&A advisor and Ted Olt of Lane & Waterman, LLP acted as legal counsel to IWS. Bruce Gutenplan of Paul, Weiss, Rifkind, Wharton and Garrison acted as legal counsel to TowerCo.

 

About TowerCo
TowerCo meets the infrastructure needs of wireless service providers by developing, owning and leasing communication towers. Based in Cary, NC, the company was founded in 2004 by industry veterans Richard Byrne (CEO) and Scot Lloyd (COO). It was the 5th largest independent tower company in the US prior to selling 3,252 towers to SBA Communications on October 1, 2012. TowerCo is backed by funding from investors Tailwind Capital and Soros Strategic Partners. For more information, visit www.TowerCo.com.

10.01.12

SBA Communications Corporation Completes Acquisition of TowerCo

 Boca Raton, Florida, October 1, 2012


SBA Communications Corporation (Nasdaq:SBAC) ("SBA") announced today that SBA, through its wholly-owned subsidiary SBA 2012 Acquisition, LLC, has completed its acquisition of TowerCo II Holdings LLC, which owns 3,256 tower sites in 47 states across the U.S. and Puerto Rico. As consideration for the acquisition, SBA paid $1.2 billion in cash and issued 4.6 million shares of its Class A common stock.

About SBA Communications Corporation

SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North and Central America. By “Building Better Wireless”, SBA generates revenue from two primary businesses - site leasing and site development services. SBA’s primary focus is the leasing of antenna space on its multi-tenant towers to a variety of wireless service providers under long-term lease contracts. For more information please visit: www.sbasite.com.

 


Contacts:

Mark DeRussy, CFA
Capital Markets
561-226-9531

Lynne Hopkins
Media Relations
561-226-9431

06.26.12

SBA Communications Agrees to Acquire 3,252 towers from TowerCo for $1.45 billion

 Boca Raton, Florida, June 26, 2012

SBA Communications Corporation (Nasdaq: SBAC) (“SBA”) announced today it has entered into a definitive merger agreement with certain affiliates of TowerCo that own 3,252 tower sites in 47 states across the U.S. and Puerto Rico.

The consideration to be paid by SBA will be $1.2 billion in cash and 4.6 million shares of SBA Class A common stock, implying a total transaction value of $1.45 billion based on SBA’s average three-day closing price of $54.48 as of June 22, 2012. The shares in the transaction will be subject to certain restrictions on transfer. The cash consideration shall be paid from a combination of cash on hand, existing credit facilities and up to $900 million in financing commitments from J.P. Morgan. The transaction, subject to customary closing conditions, is expected to close in the fourth quarter of 2012. Pro forma for the closing of the transaction, SBA expects that its net debt to annualized adjusted EBITDA ratio will be approximately 7.8x to 8.0x. SBA estimates the TowerCo assets will produce approximately $93 to $95 million in tower cash flow for the full calendar year 2013.

“We are very pleased with the opportunity to acquire the TowerCo assets,” commented Jeffrey A. Stoops, SBA’s President and Chief Executive Officer. “We believe the TowerCo assets are high quality, well located and have ample capacity for additional tenants. We know the TowerCo management team well, and have the highest regard for them as operators. The towers are in excellent shape from a legal, systems and operational perspective, and will be readily integrated into our existing portfolio. As was the case with our Mobilitie acquisition earlier this year, we expect these towers will be in great demand for the future cell-splitting needs of US wireless carriers, which needs we anticipate will flow from the continued growth in consumer demand for wireless data services. We expect this transaction will be immediately accretive to AFFO per share.”

J.P. Morgan acted as financial advisor and Greenberg Traurig, LLP acted as legal advisor to SBA. Wells Fargo Securities, LLC acted as financial advisor and Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal advisor to TowerCo.

SBA will host a conference call today, June 26, 2012 at 8:30 AM (ET) to discuss the transaction. The call may be accessed as follows:

When: Tuesday, June 26, 2012

Time: 8:30 AM (Eastern)

Dial-in Number: (877) 941-8638

Conference Name: TowerCo Conference Call

Replay Available: June 26, 2012 at 11:00 AM (ET) through July 10, 2012 at 11:59 PM (ET)

Replay Number 800-475-6701

Access Code: 253027

Information Concerning Forward-Looking Statements

This press release includes forward-looking statements, including statements regarding the Company's expectations or beliefs regarding (1) the anticipated successful consummation of the acquisition of TowerCo, including the timing of such consummation, (2) the number of towers that will be acquired, (3) the source of funds that will be used to pay the purchase price, (4) the Company's expectations regarding the tower cash flow that the TowerCo assets will generate in 2013 and the overall future performance of the TowerCo t post-closing, (5) the financial impact of the acquisition and the related financings on the Company, including the accretive impact of the transactions to the Company's adjusted funds from operations per share and the pro forma impact of the transactions on the Company's net debt to annualized adjusted EBITDA, (6) the quality and characteristics of the TowerCo assets, and (7) the expected ease of integration of the TowerCo assets into the Company's portfolio. These forward-looking statements may be affected by the risks and uncertainties in the Company's business. This information is qualified in its entirety by cautionary statements and risk factor disclosures contained in the Company's Securities and Exchange Commission filings, including the Company's annual report on Form 10-K filed with the Commission on February 27, 2012. The Company wishes to caution readers that certain important factors may have affected and could in the future affect the Company's actual results and could cause the Company's actual results for subsequent periods to differ materially from those expressed in any forward-looking statement made by or on behalf of the Company. With respect to the Company's expectations regarding all of these statements, such risk factors include, but are not limited to: (1) the ability and willingness of wireless service providers to maintain or increase their capital expenditures; (2) the Company's ability to secure and retain as many site leasing tenants as planned at anticipated lease rates; (3) the impact, if any, of consolidation among wireless service providers; (4) the Company's ability to realize economies of scale from its tower portfolio; (5) the Company's ability to comply with covenants and the terms of its credit instruments; (6) the economic climate for the wireless communications industry in general and the wireless communications infrastructure providers in particular and (7) the continued dependence on towers and outsourced site development services by the wireless carriers. With respect to its expectations regarding the ability to close pending tower acquisitions, these factors also include satisfactorily completing due diligence, the ability and willingness of each party to fulfill their respective closing conditions and the availability of cash on hand, borrowing capacity under the senior credit facility, or shares of the Company's Class A common stock and the ability of J.P. Morgan to provide committed capital to pay the anticipated consideration. With respect to the Company's expectations regarding the TowerCo assets, including 2013 tower cash flow that they will generate, and the financial impact of the acquisition and related financings on the Company's pro forma leverage, results of operations and AFFO, these risk factors include (1) the Company's ability to accurately estimate the future financial performance of the TowerCo towers based on the diligence conducted prior to the execution of the agreement, (2) the ultimate cost of the financings that will be used to fund the acquisition, (3) the Company's ability to successfully integrate the TowerCo assets, and (4) those factors that impact the growth of the tower industry in general, which are set forth in the Company's SEC Filings. This press release will be available on our website at www.sbasite.com.

About SBA Communications Corporation

SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North and Central America. By “Building Better Wireless”, SBA generates revenue from two primary businesses - site leasing and site development services. The primary focus of the Company is the leasing of antenna space on its multi-tenant towers to a variety of wireless service providers under long-term lease contracts. For more information please visit: www.sbasite.com.

About TowerCo

TowerCo is the fifth largest independent tower operating company in the United States. Founded in 2004 by industry veterans Richard Byrne (CEO) and Scot Lloyd (COO) along with Tailwind Capital, the Cary, N.C.-based company meets the infrastructure needs of wireless service providers by developing, owning and leasing communications towers. TowerCo owns over 3,200 towers and has exclusive contracts to build towers directly for carriers throughout the United States. Soros Strategic Partners, LP, an entity managed by Soros Fund Management, LLC, invested in TowerCo in 2005 along with Vulcan Capital and Altpoint Capital Partners, LLC in 2008. For additional information, please visit www.towerco.com.


SBA Contacts:

Mark DeRussy, CFA
Capital Markets
561-226-9531

Lynne Hopkins
Media Relations
561-226-9431

TowerCo Contact:

Harris Vaughan
919-616-5791

02.02.11

TowerCo extends Credit Facility to $440 million

 February 2, 2010 – TowerCo amended and restated the 2009 Credit Facility, creating a $440 million Senior Secured Credit Facility which includes a $400 million term loan and a $40 million revolving line of credit. The company used the proceeds of the term loan to make a distribution of capital to its equity holders. The revolving credit facility was undrawn at closing and is available for build-to-suit, tower acquisition, ground purchases and general corporate use.

10.07.10

TowerCo Showcases Suite of New Web-based Colocation Tools

 Hollywood, FL (October 5, 2010) — TowerCo will showcase a new suite of features for the company’s website during the 2010 PCIA/Wireless Infrastructure Show, running from October 4 to 7.


The new Application Tracker, a Web-based tool providing registered users with the capability to track the progress of colocation applications online, headlines the feature set. Google and Bing map capabilities are also included.


TowerCo’s new Application Tracker tool is yet another innovation designed to further simplify the colocation process.


The tracking tool gives registered users the ability to check the status of their applications in key stages, 24 hours a day, seven days a week.


The tracking tool is offered to registered users of towerco.com. Registered users will also be able to set website user preferences, save and organize tower searches and access competitive data.


“This set of website enhancements makes doing business with TowerCo simpler still,” said Richard Byrne, TowerCo’s CEO. “These features, coupled with our reputation of having highly responsive and knowledgeable employees, prove we’re doing everything possible to do what customers told us they want — ‘make it simple.’ ”


About TowerCo


TowerCo is the fifth-largest independent tower operating company in the United States. Founded in 2004 by industry veterans Richard Byrne (CEO) and Scot Lloyd (COO) along with Tailwind Capital, the Cary, N.C.–based company meets the infrastructure needs of wireless service providers by developing, owning and leasing communication towers.


TowerCo owns more than 3,200 towers and has exclusive contracts to build towers directly for carriers throughout the United States. Soros Strategic Partners invested in TowerCo in 2005 along with Vulcan Capital and Stone Tower Capital in 2007. For additional information, please visit www.towerco.com.

11.23.09

TowerCo completes a $240 million Senior Secured Credit Facility

 November 23, 2009 - TowerCo completed a $240 million Senior Secured Credit Facility consisting of a $200 million term loan and $40 million revolving line of credit. The company used the proceeds of the $200 million term loan to make a distribution of capital to its equity holders. The revolving credit facility was undrawn at closing and is available for build-to-suit, tower acquisition, ground purchases and general corporate use.

09.23.09

TowerCo Unveils Web-based Tower Data Submission Feature

Nashville, TN (September 23, 2009) — TowerCo unveiled at the PCIA show today a new feature for the TowerCo Web-based search engine. The feature — dubbed “Submit Tower Data” — provides competitors a simple way to upload multiple location tower data for inclusion in the company’s new “Tower Finder.”

TowerCo’s “Tower Finder” provides registered users the ability to quickly locate tower properties based on geographic location, state, county, city, street address, site name, site identification number or antenna structure registration (ASR) number — from the desktop or in the field.

To upload tower data, competitors will register for the site and then complete a few simple steps in the “Submit Tower Data” section found in the upper right-hand corner of the www.towerco.com website. Uploaded data will then be made available to registered website users through the “Tower Finder” database.

“Tower Finder” currently houses tower data supplied by public domain resources along with TowerCo’s proprietary data.

“This enhancement is one of many we have planned for the website in the coming months,” said Hewitt Neagle, TowerCo’s vice president of IT. “Customers told us they wanted a central location for good data, and we’re making that happen.”

The feature enhancement comes after a recent release of the company’s new mobile version of the website, providing users the chance to find nearby towers while in the field.

About TowerCo
TowerCo is the fifth largest independent tower operating company in the United States. Founded in 2004 by industry veterans Richard Byrne (CEO) and Scot Lloyd (COO) along with Tailwind Capital, the Cary, N.C.–based company meets the infrastructure needs of wireless service providers by developing, owning and leasing communication towers. TowerCo owns over 3,000 towers and has exclusive contracts to build towers directly for carriers throughout the United States. Soros Strategic Partners invested in TowerCo in 2005 along with Vulcan Capital and Stone Tower Capital in 2007. For additional information, please visit www.towerco.com.
 

09.22.09

TowerCo Announces Mobile Version of New Tower Search Engine

FOR IMMEDIATE RELEASE
Press Contact: Harris Vaughan, 919-521-5610

TowerCo Announces Mobile Version of New Tower Search Engine

Announcement Is Part of Effort Designed to Highlight the Company’s Commitment to Simplifying the Tower Colocation Process

 

Nashville, TN (September 22, 2009) — TowerCo announced at the PCIA show today a mobile version of a new Web-based search engine designed to make tower searches much simpler for radio frequency (RF) engineers and site acquisition consultants operating in the field.

Industry professionals operating remotely or from the office depend on tower data when determining antenna colocation opportunities in new and existing wireless service areas.

The mobile version of the new “Tower Finder” search engine offers a “Find Nearby Towers” function, allowing BlackBerry and iPhone users the ability to locate nearby towers. This GPS-based functionality will be extended to additional Smartphone devices as GPS support is added to those Web browsers.

Similar to the website version, registered users will be able to quickly locate tower properties based on geographic location, state, county, city, street address, site name, site identification number or antenna structure registration (ASR) number — all through a Smartphone device.

TowerCo CEO Richard Byrne said, “Customers all told us the same thing: ‘Give me what I want when and where I want it.’ That’s exactly what we are working toward.”

Earlier this summer, TowerCo unveiled a newly designed website, www.towerco.com, and a new tagline: “Simplicity. Found.” The company is focused on finding ways to make doing business with TowerCo as simple as possible.

About TowerCo
TowerCo is the fifth largest independent tower operating company in the United States. Founded in 2004 by industry veterans Richard Byrne (CEO) and Scot Lloyd (COO) along with Tailwind Capital, the Cary, N.C.–based company meets the infrastructure needs of wireless service providers by developing, owning and leasing communication towers. TowerCo owns over 3,000 towers and has exclusive contracts to build towers directly for carriers throughout the United States. Soros Strategic Partners invested in TowerCo in 2005 along with Vulcan Capital and Stone Tower Capital in 2007. For additional information, please visit www.towerco.com.
 

02.02.09

TowerCo CEO Joins Wireless Industry Association Board of Directors

Cary, N.C. (February 2, 2009) — PCIA – The Wireless Infrastructure Association announced today the appointment of Richard J. Byrne to its Board of Directors.

Mr. Byrne is a founder and Chief Executive Officer of TowerCo, LLC, owners of more than 3,000 communications towers. Prior to forming TowerCo, Byrne served as president of the tower division of SpectraSite Communications, which owned over 8,000 towers. Previously, he served as national director of business development at Nextel Communications Inc., where he was responsible for the industry’s first major sale of 2,000 towers and a 1,700-site build-to-suit commitment.

“PCIA is pleased to add Richard to our Board of Directors,” said Michael Fitch, president and CEO of PCIA – The Wireless Infrastructure Association. “Richard has extensive experience in our industry. His insight makes him a valuable addition to the association Board, and I look forward to working with him.”

About PCIA

PCIA – The Wireless Infrastructure Association is a nonprofit national trade association representing the companies that make up the wireless telecommunications infrastructure industry. Its members include the carriers, infrastructure providers and professional services firms that own and manage more than 120,000 telecommunications facilities throughout the world. To learn more, visit www.pcia.com.

About TowerCo

TowerCo is the fifth largest independent tower operating company in the United States. Founded in 2004 by industry veterans Richard Byrne (CEO) and Scot Lloyd (COO) along with Tailwind Capital, the Cary, N.C.-based company meets the infrastructure needs of wireless service providers by developing, owning and leasing communication towers. TowerCo owns over 3,000 towers and has exclusive contracts to build towers directly for carriers throughout the United States. Soros Strategic Partners invested in TowerCo in 2005 along with Vulcan Capital and Stone Tower Capital in 2007. For additional information, please visit www.towerco.com.
 

09.24.08

TOWERCO COMPLETES ACQUISITION OF 3,080 TOWERS FROM SPRINT NEXTEL FOR $670 MILLION

TOWERCO LLC; CARY, NORTH CAROLINA

SPRINT NEXTEL (NYSE: S); OVERLAND PARK, KANSAS

TowerCo today announced the completion of a previously announced tower acquisition from Sprint Nextel of approximately 3,080 towers for an estimated $670 million in cash, with the number of towers and sale price subject to post-close adjustment. The two companies have also signed a long-term leasing agreement for TowerCo to provide Sprint Nextel with wireless communications towers to support the company’s CDMA, iDEN and WiMAX networks.

“Leasing rather than owning these network facilities is a more efficient use of resources and allows us to focus more closely on our core business of providing communications services to our customers,” said Bob Azzi, senior vice president, Network Services, Sprint Nextel. “This deal also gives Sprint additional liquidity and greater flexibility in managing our business.”

Richard Byrne, president and CEO of TowerCo stated, “We are very excited that we have completed the purchase of the Sprint Nextel towers. Wireless carriers continue to grow and enhance their networks, creating strong demand for the towers we’ve just acquired. Given that demand and the major metropolitan market concentration of the towers, we have every expectation the portfolio will perform exceptionally well.”

Sprint will account for the transaction with TowerCo as a financing arrangement. For GAAP purposes, the total final proceeds received will be treated as a long-term debt obligation.

Equity financing for this transaction was provided by Tailwind Capital, Soros Strategic Partners II LP, Stone Tower Equity Partners and Vulcan Capital.

In this transaction, Sprint Nextel was advised by Wachovia Capital Markets, LLC, Citi and the law firm of Jones Day. TowerCo was advised by UBS Investment Bank and the law firm of Paul, Weiss, Rifkind, Wharton and Garrison LLP.

About Sprint Nextel

Sprint Nextel offers a comprehensive range of wireless and wireline communications services bringing the freedom of mobility to consumers, businesses and government users. Sprint Nextel is widely recognized for developing, engineering and deploying innovative technologies, including two wireless networks serving nearly 52 million customers at the end of the second quarter 2008; industry-leading mobile data services; instant national and international push-to-talk capabilities; and a global Tier 1 Internet backbone. For more information, visit www.sprint.com.

About TowerCo

TowerCo was founded in 2004 by Tailwind Capital and industry veterans Richard Byrne, Chief Executive Officer, and Scot Lloyd, Chief Operating Officer, to meet the infrastructure needs of wireless service providers by developing, owning and leasing communication towers. Soros Strategic Partners invested in TowerCo in December 2005. Currently TowerCo has exclusive contracts to build towers directly for carriers throughout the U.S. TowerCo is based in Cary, N.C. For additional information please visit www.towerco.com.

07.23.08

TOWERCO LLC AGREES TO ACQUIRE 3,300 TOWERS FROM SPRINT NEXTEL FOR APPROXIMATELY $670 MILLION IN CASH

TOWERCO LLC; CARY, NORTH CAROLINA

SPRINT NEXTEL (NYSE: S); OVERLAND PARK, KANSAS

TowerCo today announced an agreement to buy approximately 3,300 towers from Sprint Nextel for approximately $670 million in cash. Additionally, the two companies have entered into a long term leasing agreement where TowerCo will provide Sprint Nextel with wireless communications towers to support the company’s CDMA, iDEN and WiMAX networks.

“By leasing rather than owning these network facilities, we can better focus on our core business of providing communications services to consumers, businesses and government customers,” said Bob Azzi, senior vice president, Field Engineering and Operations, Sprint Nextel. “Significantly, this transaction provides Sprint Nextel with additional liquidity which gives us greater flexibility in managing our company.”

“These are great towers concentrated in large metropolitan markets throughout the U.S. and will benefit as wireless communications continue to grow.” said Richard Byrne, TowerCo's CEO.

The specific number of towers and final purchase price will be determined at closing. The transaction, subject to customary closing conditions, is expected to close in 90 days.

Equity financing for this transaction will be provided by Tailwind Capital, Soros Strategic Partners II LP, Stone Tower Equity Partners and Vulcan Capital.

In this transaction, Sprint Nextel was advised by Wachovia Capital Markets, LLC, Citi and the law firm of Jones Day. TowerCo was advised by UBS Investment Bank and the law firm of Paul, Weiss, Rifkind, Wharton and Garrison LLP.

About Sprint Nextel

Sprint Nextel offers a comprehensive range of wireless and wireline communications services bringing the freedom of mobility to consumers, businesses and government users. Sprint Nextel is widely recognized for developing, engineering and deploying innovative technologies, including two wireless networks serving nearly 53 million customers at the end of the first quarter 2008; industry-leading mobile data services; instant national and international push-to-talk capabilities; and a global Tier 1 Internet backbone. For more information, visit www.sprint.com.

About TowerCo

TowerCo was founded in 2004 by Tailwind Capital and industry veterans Richard Byrne, Chief Executive Officer, and Scot Lloyd, Chief Operating Officer, to meet the infrastructure needs of wireless service providers by developing, owning and leasing communication towers. Soros Strategic Partners invested in TowerCo in December 2005. Currently TowerCo has exclusive contracts to build towers directly for carriers throughout the U.S. TowerCo is based in Cary, N.C. For additional information please visit www.towerco.com.

Safe Harbor Statement

This news release includes "forward-looking statements" within the meaning of the securities laws. The statements in this news release regarding the business outlook and performance, new products and services, future network capabilities and performance, expected investments, as well as other statements that are not historical facts, are forward-looking statements. The words "estimate," "project," "forecast," "intend," "expect," "believe," "target," "providing guidance" and similar expressions are intended to identify forward-looking statements. Forward-looking statements are estimates and projections reflecting management's judgment based on currently available information and involve a number of risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. With respect to these forward-looking statements, management has made assumptions regarding, among other things, customer and network usage, customer growth and retention, pricing, development, deployment and operating costs, availability of devices, the timing of various events and the economic environment.

Sprint Nextel believes these forward-looking statements are reasonable; however, you should not place undue reliance on forward-looking statements, which are based on current expectations and speak only as of the date of this release. Sprint is not obligated to publicly release any revisions to forward-looking statements to reflect events after the date of this release. Sprint Nextel provides a detailed discussion of risk factors in periodic SEC filings, including its annual report on Form 10-K for the year ended December 31, 2007.

06.02.08

TOWERCO LLC ANNOUNCES CLOSING OF TOWER ACQUISITION TO SBA COMMUNICATIONS CORPORATION

TOWERCO LLC; CARY, NORTH CAROLINA

SBA COMMUNICATIONS CORPORATION (NASDAQ: SBAC); BOCA RATON, FLORIDA

TowerCo and SBA Communications Corporation ("SBA" or the "Company") announced today that they have completed a transaction whereby SBA has acquired 424 wireless communications towers from TowerCo for $190.8 million, or approximately $450,000 per tower. This acquisition of these towers was funded by a draw under SBA’s $335 million senior credit facility. The towers are located throughout the U.S. and are currently occupied by approximately 1.5 wireless telephony tenants per tower.

SteelTree Partners, LLC and the law firm of Paul, Weiss, Rifkind, Wharton & Garrison LLP represented TowerCo.

About SBA

SBA is a leading independent owner and operator of wireless communications infrastructure in the United States. SBA generates revenue from two primary businesses – site leasing and site development services. The primary focus of the Company is the leasing of antenna space on its multi-tenant towers to a variety of wireless service providers under long-term lease contracts. Since it was founded in 1989, SBA has participated in the development of over 25,000 antenna sites in the United States.

For additional information about SBA, please contact Pam Kline, Vice-President-Capital Markets, at (561) 226-9232 or visit our website at www.sbasite.com.

About TowerCo LLC

TowerCo was founded in 2004 by Tailwind Capital and industry veterans Richard Byrne, Chief Executive Officer, and Scot Lloyd, Chief Operating Officer, to meet the infrastructure needs of wireless service providers by developing, owning and leasing communication towers. Soros Strategic Partners invested in TowerCo in December 2005. Currently TowerCo has exclusive contracts to build over 100 towers directly for carriers throughout the U.S. TowerCo is based in Cary, N.C. For additional information please visit www.towerco.com.

About Tailwind Capital

Tailwind Capital is an independent private equity firm focused on investments in the growth sectors of the economy including healthcare, media/communications and business services. Headquartered in New York, Tailwind manages nearly $2.0 billion in capital. For additional information on Tailwind, please visit www.tailwindcapital.com.

About Soros

Soros Strategic Partners LP is a private investment vehicle focused on buyouts, build-ups and growth equity investments.

Information Concerning Forward-Looking Statements

This press release includes forward-looking statements, including statements regarding (1) the anticipated successful consummation of the acquisition of towers from TowerCo, (2) the number of towers that will be acquired, (3) the purchase price that will be paid (4) the source of funds that will be used to pay the purchase price, and (5) the anticipated accretion to equity free cash flow per share this year from the transaction. These forward-looking statements may be affected by the risks and uncertainties in the Company's business. This information is qualified in its entirety by cautionary statements and risk factor disclosures contained in this press release and the Company's Securities and Exchange Commission filings, including the Company's report on Form 10-K filed with the Commission on February 28, 2008. The Company wishes to caution readers that certain important factors may have affected and could in the future affect the Company's expectations regarding the TowerCo acquisition and could cause the actual results to differ materially from those expressed in any forward-looking statement made by or on behalf of the Company. With respect to the Company's expectations regarding the TowerCo acquisition, these factors include the ability and willingness of each party to fulfill their respective closing conditions and the Company's ability to access availability under its senior credit facility, the anticipated interest rate on the Company’s indebtedness used to fund the acquisition, and the performance of the acquired assets post-closing.

03.19.08

TOWERCO AGREES TO SELL CERTAIN TOWERS TO SBA COMMUNICATIONS CORPORATION

TOWERCO LLC; CARY, NORTH CAROLINA

SBA COMMUNICATIONS CORPORATION (NASDAQ: SBAC); BOCA RATON, FLORIDA,

TowerCo and SBA ("SBA" or the "Company") today announced that they have entered into an agreement under which it is anticipated that SBA will acquire up to 430 wireless communications towers owned by TowerCo LLC for up to $193.5 million. The specific number of towers and final purchase price will be determined at closing. The transaction, subject to customary closing conditions, is expected to close on or about May 30, 2008. The towers are located throughout the U.S and are currently occupied by approximately 1.5 wireless telephony tenants per tower. SBA expects to fund the purchase with cash on hand and a draw from its $335 million senior credit facility. SBA anticipates that the transaction will be accretive to equity free cash flow per share this year.

TowerCo will continue its business of developing, owning, leasing and acquiring communications towers.

The transaction was the result of exclusive negotiations between SBA and TowerCo. SteelTree Partners, LLC and the law firm of Paul, Weiss, Rifkind, Wharton & Garrison LLP represented TowerCo.

About SBA

SBA is a leading independent owner and operator of wireless communications infrastructure in the United States. SBA generates revenue from two primary businesses – site leasing and site development services. The primary focus of the Company is the leasing of antenna space on its multi-tenant towers to a variety of wireless service providers under long-term lease contracts. Since it was founded in 1989, SBA has participated in the development of over 25,000 antenna sites in the United States.

For additional information about SBA, please contact Pam Kline, Vice-President-Capital Markets, at (561) 226-9232 or visit our website at www.sbasite.com.

About TowerCo LLC

TowerCo was founded in 2004 by Tailwind Capital and industry veterans Richard Byrne, Chief Executive Officer, and Scot Lloyd, Chief Operating Officer, to meet the infrastructure needs of wireless service providers by developing, owning and leasing communication towers. Soros Strategic Partners invested in TowerCo in December 2005. Currently TowerCo has exclusive contracts to build over 100 towers directly for carriers throughout the U.S. TowerCo is based in Cary, N.C. For additional information please visit www.towerco.com.

About Tailwind Capital

Tailwind Capital is an independent private equity firm focused on investments in the growth sectors of the economy including healthcare, media/communications and business services. Headquartered in New York, Tailwind manages nearly $2.0 billion in capital. For additional information on Tailwind, please visit www.tailwindcapital.com.

About Soros

Soros Strategic Partners LP is a private investment vehicle focused on buyouts, build-ups and growth equity investments.

Information Concerning Forward-Looking Statements

This press release includes forward-looking statements, including statements regarding (1) the anticipated successful consummation of the acquisition of towers from TowerCo, (2) the number of towers that will be acquired, (3) the purchase price that will be paid (4) the source of funds that will be used to pay the purchase price, and (5) the anticipated accretion to equity free cash flow per share this year from the transaction. These forward-looking statements may be affected by the risks and uncertainties in the Company's business. This information is qualified in its entirety by cautionary statements and risk factor disclosures contained in this press release and the Company's Securities and Exchange Commission filings, including the Company's report on Form 10-K filed with the Commission on February 28, 2008. The Company wishes to caution readers that certain important factors may have affected and could in the future affect the Company's expectations regarding the TowerCo acquisition and could cause the actual results to differ materially from those expressed in any forward-looking statement made by or on behalf of the Company. With respect to the Company's expectations regarding the TowerCo acquisition, these factors include the ability and willingness of each party to fulfill their respective closing conditions and the Company's ability to access availability under its senior credit facility, the anticipated interest rate on the Company’s indebtedness used to fund the acquisition, and the performance of the acquired assets post-closing.

10.18.06

TOWERCO SECURES $75 MILLION LOAN; EARNS PLACE AMONG LEADING TOWER COMPANIES

CARY, N.C., October 18, 2006 – TowerCo LLC, which in just two years of operation has achieved a Top 10 standing among U.S. wireless communications tower companies, today announced its senior credit facility from CapitalSource has increased to $75 million from $35 million. TowerCo said that the three-year, cash flow-based loan would fund its current pipeline of committed tower builds that will take the company beyond 600 towers.

"We are pleased with the growth TowerCo has achieved in its first two years and confident we will continue to fulfill the promises we have made to our customers and our investors," said Richard J. Byrne, Chief Executive Officer of TowerCo. "This expansion of our senior credit facility, along with the support we received from our equity investors Tailwind Capital and Soros Strategic Partners, will support our goal to become a significant player in the tower industry."

TowerCo, which leases space on its multi-tenant towers to wireless service providers, currently owns more than 360 towers and has agreements with leading wireless service providers that will increase its tower ownership to more than 600 towers in the future.

In other important developments since the beginning of 2006:

  • In February, Cingular named TowerCo one of five national built-to-suit providers, significantly expanding the relationship TowerCo began in 2005 covering 50 towers in Michigan and Ohio. As a result of the new agreement, TowerCo expects to do business across the U.S. with Cingular, the largest wireless carrier in the nation.
  • In April, TowerCo turned EBITDA-positive. The company said it expects to meet its revenue and profit objectives during its infrastructure build, and that it will continue to leverage its streamlined SG&A (Sales, General and Administrative) expenses with increasing revenues as it adds towers and tenants to them.

About TowerCo LLC

Based in Cary, N.C., TowerCo is engaged in the construction, development, leasing and management of communication towers. Launched in September 2004 by industry veterans Richard Byrne, Chief Executive Officer, and Scot Lloyd, Chief Operating Officer, TowerCo seeks to meet the infrastructure needs of wireless services providers and others by developing new tower sites in the U.S. TowerCo's headquarters are located at 112 Towerview Court, Cary, N.C. 27513. Telephone: 919-469-5559.

About Tailwind Capital

Tailwind Capital is an independent private equity firm that manages the $1.3 billion TWCP Funds and is focused on control investments in the growth sectors of the economy including media/communications, healthcare, and business services. Tailwind's team of investment professionals brings to bear an exceptional combination of private equity and operating experience in addition to capital -- providing Capital Plus -- working closely with management teams as middle-market businesses confront the challenges of rapid growth, strategic transformation and global competition. Tailwind's other portfolio companies include Concord Music Group (recorded music), Hospital Partners of America (hospital management), NextMedia (radio broadcasting and outdoor advertising) and Trover Solutions (insurance subrogation services). Tailwind is headquartered in New York with offices in San Francisco. For additional information on Tailwind, please visit www.tailwindcapital.com.

About Soros Fund Management

Soros Fund Management LLC, founded by George Soros, is a privately held investment management firm providing financial services and investment strategies for various private funds, including Soros Strategic Partners LP.

About CapitalSource

CapitalSource is a specialized commercial finance company operating as a REIT and offering first mortgage, asset-based, cash flow and mezzanine financing to small and mid-sized borrowers through three focused lending businesses: Structured Finance, Healthcare and Specialty Finance and Corporate Finance. By offering a broad array of financial products, the company had outstanding $10.5 billion in loan commitments as of June 30, 2006. Headquartered in Chevy Chase, Maryland, the company has a national network of offices across the country. As of June 30, 2006, CapitalSource had 549 employees.

10.12.06

TOWERCO: ONE-THIRD OF THE WAY TO GOAL TO OWN 1,000 TOWERS BY 2009

CARY, N.C., October 12, 2006 – TowerCo LLC, one of the 10 largest wireless communication tower companies in the U.S., today said it was a third of the way toward achieving its goal to own 1,000 towers by 2009. Founded in September 2004, the company now owns more than 350 towers and has a pipeline to develop an additional 300 towers.

"We're very pleased with how TowerCo has grown and with the feedback we're receiving from our customers," said Chief Executive Officer Richard J. Byrne. "Our staff has all worked in large tower companies, and they know how the job should be done. We've put in the systems, processes and people to ensure the job's done right. Even though TowerCo is young, we've earned a reputation for reliability, flexibility and resourcefulness, and we will remain committed to those qualities."

In fact, one executive from a major carrier who's been in the wireless communications business for more than 15 years said TowerCo was "the best tower company they have ever worked with."

"Comments like that reflect the effort and dedication of our entire company," Byrne noted.

In other significant developments since the beginning of 2006:

  • In April, TowerCo turned EBITDA positive. The company said it expects to meet its revenue and profit objectives during its infrastructure build, and that it will continue to leverage its streamlined SG&A (Sales, General and Administrative) expenses with increasing revenues as it adds towers and tenants to them;
  • In February, Cingular named TowerCo one of five national built-to-suit providers, significantly expanding the relationship TowerCo began in 2005 covering 50 towers in Michigan and Ohio. As a result of the new agreement, TowerCo expects to do business across the U.S. with Cingular, the largest wireless carrier in the nation.

About TowerCo LLC

Based in Cary, N.C., TowerCo is engaged in the construction, development, leasing and management of communication towers. TowerCo was launched in September 2004 on the strength of a commitment in equity financing from Tailwind Capital Partners. In January 2006, Soros Strategic Partners committed $30 million, and together with Tailwind, brought the total equity commitment to the company to $60 million. Formed by industry veterans Richard Byrne, Chief Executive Officer, and Scot Lloyd, Chief Operating Officer, TowerCo seeks to meet the infrastructure needs of wireless services providers and others by developing new tower sites in the U.S. TowerCo's headquarters are located at 112 Towerview Court, Cary, N.C. 27513. Telephone: 919-469-5559.

04.21.06

TOWERCO TURNS EBITDA-POSITIVE, 20 MONTHS AFTER LAUNCH

CARY, N.C., April 21, 2006 – TowerCo, which develops, owns and leases wireless communications towers, today said it has turned EBITDA-positive, 20 months after the company's launch.

"With tower ownership approaching 300 sites, the company offset the costs of its infrastructure-build and cleared the EBITDA hurdle as the result of steady growth outlined in our plan," TowerCo Chief Executive Officer Richard J. Byrne said.

"We'll continue to leverage our streamlined SG&A (sales, general and administrative) expenses with increasing revenue, as we add towers and tenants," Byrne added.

In other significant developments during the past 12 months, TowerCo:

  • In February 2006, was selected by Cingular Wireless LLC as one of five national build-to-suit providers. As a result of the new agreement, TowerCo expects to do business across the U.S. with Cingular, the largest wireless carrier in the nation.
  • In December 2005, received a $30 million equity commitment from Soros Strategic Partners LP, an entity managed by Soros Fund Management LLC, bringing total equity capital committed to the company to $60 million.
  • In August 2005, secured a $35 million senior credit facility from CapitalSource Finance LLC. TowerCo said that the three-year, cash flow-based loan will help fund an aggressive growth strategy enabling it to expand its tower ownership to 1,000 by the end of 2009.
  • In April 2005, announced an agreement with Nextel Partners, Inc. for the purchase, construction and ownership of 300 wireless communication towers.

About TowerCo LLC

Based in Cary, N.C., TowerCo is engaged in the construction, development, leasing and management of communication towers. TowerCo was launched in September 2004 on the strength of a commitment in equity financing from Tailwind Capital Partners. In January 2006, Soros Strategic Partners committed $30 million, and together with Tailwind, brought the total equity commitment to the company to $60 million. Formed by industry veterans Richard Byrne, Chief Executive Officer, and Scot Lloyd, Chief Operating Officer, TowerCo seeks to meet the infrastructure needs of wireless services providers and others by developing new tower sites in the U.S. TowerCo's headquarters are located at 112 Towerview Court, Cary, N.C. 27513. Telephone: 919-469-5559.

02.20.06

TOWERCO SELECTED BY CINGULAR AS NATIONAL BUILD-TO-SUIT PROVIDER

CARY, N.C., February 20, 2006 – TowerCo LLC, which develops, owns and leases wireless communications towers, today announced it has been selected by Cingular Wireless LLC as one of five national build-to-suit providers.

The agreement significantly expands the relationship TowerCo began with Cingular in 2005, when TowerCo entered into a build-to-suit agreement with Cingular -- the nation's largest wireless carrier -- covering some 50 towers in Michigan and Ohio.

"We're confident this is a mutually beneficial strategy, allowing Cingular to deploy its capital effectively in transactions that grow its business and TowerCo to aggregate the activity of a market by providing co-location," said TowerCo Chief Executive Officer Richard J. Byrne. "And we're very proud to have been selected by Cingular to expand on our existing partnership; it certainly validates our commitment to customer service."

In addition to Michigan and Ohio, TowerCo expects to do business with Cingular throughout the U.S.

About TowerCo LLC

Based in Cary, N.C., TowerCo is engaged in the construction, development, leasing and management of communication towers. TowerCo was launched in September 2004 on the strength of a commitment for up to $50 million in equity financing from Tailwind Capital Partners. Formed by industry veterans Richard Byrne, Chief Executive Officer, and Scot Lloyd, Chief Operating Officer, TowerCo seeks to meet the infrastructure needs of wireless services providers and others by developing new tower sites in the U.S. TowerCo's headquarters are located at 100 Towerview Court, Cary, N.C. 27513. Telephone: 919-469-5559.

01.11.06

TOWERCO RECEIVES $30 MILLION EQUITY FINANCING COMMITMENT FROM SOROS

CARY, N.C., January 11, 2006 – TowerCo LLC, which develops, owns and leases wireless communications towers, today announced it has raised an additional $30 million of equity from Soros Strategic Partners LP, an entity managed by Soros Fund Management LLC, bringing total equity capital committed to the company to $60 million.

TowerCo was founded by Tailwind Capital and management in September 2004.

Richard J. Byrne, Chief Executive Officer of TowerCo, said “The additional equity will help us accelerate our tower development activities.” TowerCo ended 2005 owning and operating 221 towers. “We exceeded our goal of reaching 200 towers by the end of 2005” Mr. Byrne said. “Including our current pipeline of towers, we are more than half-way towards our longer-term plan of owning 1,000 towers by 2009. It is extremely rewarding to deliver to all of our constituents – carriers, contractors and investors – beyond what we said we would.”

Additional Highlights

  • To date, TowerCo’s exclusive right to build and buy towers for Nextel Partners, Inc. has produced outstanding results. Under their previously announced agreement, TowerCo expects to purchase or develop 300 wireless communications towers for Nextel Partners through 2008.
  • During 2005, TowerCo achieved strong collocation growth from leasing space on its towers to wireless service providers.

DH Capital LLC, a New York based investment banking firm focused on the media and communications industries, served as exclusive financial advisor to TowerCo.

About TowerCo LLC

Based in Cary, N.C., TowerCo focuses on the development, leasing and management of communication towers. TowerCo was launched in September 2004 on the strength of a commitment in equity financing from Tailwind Capital Partners. Formed by industry veterans Richard Byrne, chief executive officer, and Scot Lloyd, chief operating officer, TowerCo seeks to meet the infrastructure needs of wireless services providers and others by developing new tower sites throughout the United States. TowerCo's headquarters are located at 112 Towerview Court, Cary, NC 27513. Telephone: 919-469-5559. To learn more about TowerCo, please visit www.towerco.com.

About Tailwind Capital

Tailwind Capital (www.tailwindcapital.com) is an independent private equity firm focused on control investments in healthcare, media/communications and business services companies. Tailwind is the general partner of the $1.3 billion TWCP LP fund. Its portfolio companies include Aircast (orthopedic braces), Concord Music Group (recorded music) Hospital Partners of America (hospital management), NextMedia (radio broadcasting and outdoor advertising), TowerCo (communication services) and Trover Solutions (insurance subrogation services).

About Soros Fund Management

Soros Fund Management LLC founded by George Soros, is a privately held investment management firm providing financial services and investment strategies for various private funds.

About DH Capital, LLC

DH Capital is an investment banking partnership serving the media, Internet and telecommunications industries. Based in New York, the firm’s principals have extensive experience and proven abilities in mergers and acquisitions, capital formation, finance, research, business development and operations. DH Capital provides a full range of advisory services to companies and financial institutions, including private placements, mergers and acquisitions, financial restructuring, and operational consulting. For additional information, please call 212-774-3720 or visit www.dhcapitalllc.com.

08.03.05

TOWERCO SECURES $35 MILLION LOAN; EXPECTS TO OWN 1,000 TOWERS BY 2009

CARY, N.C., Aug. 3, 2005 – TowerCo, Inc., which develops, owns and leases wireless communications towers, today announced it has secured a $35 million senior credit facility from CapitalSource Finance LLC. TowerCo said that the three-year, cash flow-based loan will help fund an aggressive growth strategy enabling it to expand its tower ownership to 1,000 by the end of 2009.

“We are pleased with the growth TowerCo has achieved over its first 10 months of operation, and we believe our asset portfolio and the agreements we have in place have put TowerCo on a path to becoming a significant player in the tower industry,” said Richard J. Byrne, Chief Executive Officer of TowerCo. “With support from our equity investors Tailwind Capital Partners and our new senior credit facility, we have the resources we need to expand our tower portfolio and provide excellent service to our customers.”

TowerCo, which leases space on its multi-tenant towers to wireless service providers, in April entered into an agreement with Nextel Partners, Inc., for the purchase, construction and ownership of 300 cell towers. TowerCo currently owns 115 towers and has agreements with leading wireless service providers that will increase its tower ownership to more than 500 over the next 24 months.

DH Capital LLC served as TowerCo’s investment advisor in the transaction.

About TowerCo, Inc.

Based in Cary, N.C., TowerCo focuses on the development, leasing and management of communication towers. TowerCo was launched in September 2004 on the strength of a commitment for up to $50 million in equity financing from Tailwind Capital Partners. Formed by industry veterans Richard Byrne, Chief Executive Officer, and Scot Lloyd, Chief Operating Officer, TowerCo seeks to meet the infrastructure needs of wireless services providers and others by developing new tower sites in the U.S. TowerCo's headquarters are located at 100 Towerview Court, Cary, N.C. 27513. Telephone: 919-469-5559. To learn more about TowerCo, visit www.towerco.com.

About CapitalSource

CapitalSource is a specialized commercial finance company offering asset-based, senior, cash flow and mezzanine financing to small and mid-sized borrowers through three focused lending businesses: Corporate Finance, Healthcare and Specialty Finance, and Structured Finance. By offering a broad array of financial products, CapitalSource had outstanding more than $7.6 billion in loan commitments as of June 30, 2005. Headquartered in Chevy Chase, Md., CapitalSource has a national network of offices in cities including Atlanta, Boston, Buffalo, Chicago, Dallas, Los Angeles, Nashville, New York, Philadelphia, San Francisco and St. Louis. As of June 30, 2005, it had 436 employees.

About DH Capital, LLC

DH Capital is an investment banking partnership serving the media, Internet and telecommunications industries. Based in New York, the firm’s principals have extensive experience and proven abilities in capital formation, finance, research, business development and operations. DH Capital provides a full range of advisory services to companies and financial institutions including private placements, mergers and acquisitions, financial restructuring, and operational consulting. The principals of DH Capital have led hundreds of transactions including mergers and acquisitions totaling in excess of $10 billion, private equity placements totaling more than $800 million, and debt placements totaling in excess of $8 billion. For additional information about DH Capital, visit www.dhcapitalllc.com.

About Tailwind Capital Partners

Tailwind manages a $1.3 billion fund focused on private equity investments in the growth sectors of the economy, including media and communications, healthcare and business services. Tailwind’s current portfolio of investments includes Aircast, Concord Music Group, Hospital Partners of America, NextMedia, Trover Solutions and TowerCo. Tailwind has offices in New York and San Francisco.

04.07.05

NEXTEL PARTNERS AND TOWERCO ENTER AGREEMENT FOR 300 CELL TOWERS

KIRKLAND, Wash., and CARY, N.C. – April 7, 2005 – Nextel Partners, Inc. (NASDAQ: NXTP), which has the exclusive right to offer Nextel wireless services in the mid-sized and rural markets it serves, and TowerCo, Inc. today announced an agreement for the purchase, construction, and ownership of 300 cell towers.

The agreement covers TowerCo’s purchase of up to 92 existing Nextel Partners’ towers, predominantly in the company’s North, Southeast and Midwest operating areas. Nextel Partners has also granted TowerCo exclusive rights to build or buy future towers to reach a combined total of 300 towers by the end of 2008. Terms of the agreement were not disclosed.

“Nextel Partners has a strong track record of success. Part of our growth is a direct result of continued efforts to enhance our network and maintain the quality service our customers expect,” said John Chapple, Chairman, CEO and President of Nextel Partners. “Nextel Partners remains committed to striving for 100 percent customer satisfaction in all aspects of our business; this agreement will help us achieve those goals.”

“Our management team’s industry experience and commitment to reliable customer service enabled this agreement to come to fruition,” said Richard J. Byrne, CEO of TowerCo. “We look forward to helping Nextel Partners continue its impressive growth.”


About Nextel Partners

Nextel Partners, Inc. (NASDAQ:NXTP), based in Kirkland, Wash., has exclusive rights to offer the same fully integrated, digital wireless communications services offered by Nextel Communications, Inc. (Nextel) in mid-sized and rural markets in 31 states where approximately 54 million people reside. Nextel Partners and Nextel together offer the largest guaranteed all-digital wireless network in the country serving 297 of the top 300 U.S. markets. To learn more about Nextel Partners, visit www.nextelpartners.com.

About TowerCo, Inc.

Based in Cary, NC, TowerCo focuses on the development, leasing and management of communication towers. TowerCo was launched on September 2004 on the strength of a commitment for up to $50 million in equity financing from Tailwind Capital Partners. Formed by industry veterans Richard Byrne, Chief Executive Officer, and Scot Lloyd, Chief Operating Officer, TowerCo seeks to meet the infrastructure needs of wireless services providers and others by developing new tower sites in the U.S. TowerCo's headquarters are located at 100 Towerview Court, Cary, N.C. 27513. Telephone: 919-469-5559. To learn more about TowerCo, visit www.towerco.com.

02.16.05

TOWERCO ENTERS INTO BUILD-TO-SUIT AGREEMENT WITH CINGULAR TO CONSTRUCT MORE THAN 50 SITES IN MICHIGAN AND OHIO

CARY, N.C., February 16, 2005 – TowerCo., Inc., which develops, owns and leases wireless communications towers, today announced it has entered into a build-to-suit agreement with Cingular Wireless LLC to construct approximately 50 sites throughout Michigan and Ohio.

The agreement is the first for TowerCo with a major wireless carrier and marks a significant milestone for the company, which was launched in September 2004 on the strength of an equity financing commitment from Tailwind Capital Partners. Cingular is the largest wireless company in the U.S., with more than 54 million subscribers who use the nation's largest digital voice and data network.

"We're a young company, but our TowerCo colleagues' track record for outstanding customer service dates to the beginning of our industry," said TowerCo Chief Executive Officer Richard J. Byrne. "We're very pleased Cingular has chosen TowerCo as a business partner, and we're confident of serving them well in this exciting venture."

"The agreement with Cingular is especially significant because we started TowerCo with a plan to develop new towers," Byrne explained. "A large contract from a national carrier certainly validates our business strategy."

About TowerCo LLC

Based in Cary, N.C., TowerCo is engaged in the construction, development, leasing and management of communication towers. Launched in September 2004 by industry veterans Richard Byrne, Chief Executive Officer, and Scot Lloyd, Chief Operating Officer, TowerCo seeks to meet the infrastructure needs of wireless services providers and others by developing new tower sites in the U.S. TowerCo's headquarters are located at 112 Towerview Court, Cary, N.C. 27513. Telephone: 919-469-5559.

11.01.04

TOWERCO, IN FIRST TRANSACTION, ACQUIRES 6 TOWERS IN SOUTHWEST U.S.

CARY, N.C., November 1, 2004 – TowerCo, Inc., the newly formed company focused on the development, leasing and management of wireless communication towers, today announced it has acquired six towers in Texas and Louisiana.

TowerCo began operations in August following a commitment of up to $50 million in equity financing from funds managed by Tailwind Capital Partners, LLC. The agreement to purchase these towers represents the company's first transaction. Terms of the agreement, which covers four towers in Texas and two in Louisiana, were not disclosed.

"Our mission is based on providing the highest quality service to our customers and maintaining outstanding relationships with our business partners," said TowerCo Chief Executive Officer Richard J. Byrne. "This transaction marks an important step in developing a top tier tower company, and we hope to continue to build on it."

TowerCo said Alltel Wireless would be the anchor tenant on the newly-acquired towers, and that it expected additional co-locations in the future.

 

About TowerCo, Inc

 

Based in Cary, N.C., TowerCo is engaged in the construction, development, leasing and management of communication towers. Launched in September 2004 by industry veterans Richard Byrne, Chief Executive Officer, and Scot Lloyd, Chief Operating Officer, TowerCo seeks to meet the infrastructure needs of wireless services providers and others by developing new tower sites in the U.S. TowerCo's headquarters are located at 100 Towerview Court, Cary, N.C. 27513. Telephone: 919-469-5559.

About Tailwind Capital Partners

 

Tailwind is a $1.3 billion private equity fund affiliated with Thomas Weisel Partners with a current portfolio of over 30 companies, primarily focused in the growth sectors of the economy, including healthcare, technology and business services, and media and communications. Tailwind's investment strategy includes a combination of traditional buyouts and growth equity investments. Tailwind's team of 17 dedicated investment professionals brings to bear an exceptional combination of private equity and operating experience and is headquartered in New York and San Francisco.

09.29.04

TowerCo, Inc. Receives $50 million in Funding, Begins Operations

CARY, N.C., Sept. 29, 2004 -- TowerCo, Inc., a newly formed company focused on the development, leasing and management of communication towers, today announced it has received a commitment of up to $50 million in equity financing from funds managed by Tailwind Capital Partners, LLC, and has begun operations at its headquarters in Cary, N.C. and at a southeast region office in Richmond, Va.

Richard J. Byrne, Chief Executive Officer of TowerCo, said, “Our plan is to quickly build a reputation as reliable, hard-working, agile and responsive business partners who deliver results. We are confident that our capabilities and commitment to our customers will enable us to build a successful tower company.”

TowerCo’s management team brings significant industry experience to the new endeavor. In addition to Mr. Byrne, TowerCo’s senior management team includes Chief Operating Officer Scot Lloyd and Chief Financial Officer Dan Hunt. Collectively, the management team has been involved in the acquisition and disposition of towers valued at more than $2.5 billion.

Prior to forming TowerCo, Mr. Byrne served as the president of the tower division of SpectraSite Communications, which grew from 125 towers to more than 8,000 in 4 years. Prior to that, he served as national director of business development at Nextel Communications Inc. where he was responsible for the industry’s first major sale of towers -- a transaction valued at $630 million.
Mr. Lloyd recently served as executive vice president of sales and marketing at Global Signal Inc., a Sarasota, Fla. -- based company, and as vice president of sales at SpectraSite. Mr. Hunt recently served as Chief Financial Officer of Tompkins Associates Inc., a supply chain consulting firm based in Raleigh, N.C. Prior to joining Tompkins, Mr. Hunt served as Vice President of Finance at SpectraSite.

DH Capital LLC served as TowerCo’s investment advisor in the transaction.

About DH Capital, LLC

DH Capital is a private investment banking partnership serving the media, Internet and telecommunications industries. Based in New York, the firm capitalizes on more than 75 years of combined experience in financing, acquiring, selling and operating companies. DH Capital specializes in providing a full range of advisory services to companies and financial institutions including private placements, mergers & acquisitions, financial restructuring, and operational consulting. The principals of DH Capital have led hundreds of transactions including M&A totaling in excess of $10 billion, private equity placements totaling more than $800 million, and debt placements totaling in excess of $8 billion.

For additional information on DH Capital, please contact us at 212-698-7990 or visit our website at www.dhcapitalllc.com.

About Tailwind Capital Partners

Tailwind is a $1.3 billion private equity fund affiliated with Thomas Weisel Partners with a current portfolio of over 30 companies, primarily focused in the growth sectors of the economy, including healthcare, technology and business services, and media and communications. Tailwind’s investment strategy includes a combination of traditional buyouts and growth equity investments. Tailwind's team of 17 dedicated investment professionals brings to bear an exceptional combination of private equity and operating experience and is headquartered in New York and San Francisco.

About TowerCo, Inc.

Based in Cary, NC, TowerCo focuses on the development, leasing and management of communication towers. Formed by industry veterans Richard Byrne, Chief Executive Officer, and Scot Lloyd, Chief Operating Officer, TowerCo will seek to meet the infrastructure needs of wireless services providers and others by developing new tower sites, in the United States. TowerCo’s headquarters are located at 100 Towerview Ct. Cary, NC 27513. Telephone: 919-469-5559.

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