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

Wednesday, February 16, 2005

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.