Advanced Radio Telecom Closes Major Spectrum Acquisitions.

Business Editors

BELLEVUE, Wash.--(BUSINESS WIRE)--Aug. 28, 2000

Advanced Radio Telecom Corp. (ART) (Nasdaq:ARTT), a leading broadband wireless Internet Protocol access services provider, today announced it has completed its previously announced acquisition of 39 GHz spectrum licenses from Bachow Communications and BroadStream Communications Corporation.

These acquisitions, when combined with the Federal Communication Commission's 39 GHz auction which concluded in May, increases ART's spectrum depth to over 400 MHz in its top 40 markets and brings ART's U.S. license coverage to over 930 million channel pops nationwide. ART issued approximately 10 million shares as consideration for the licenses. ART also has the option to acquire additional spectrum licenses from BroadStream and Bachow for additional shares.

"We have substantially increased the asset value of our company by nearly tripling our spectrum coverage during the year," said Robert S. McCambridge, ART president and COO. "We have the spectrum breadth and depth to build both dense IP metropolitan area networks at speeds up to 100 Mbps and OC-3 connectivity at speeds up to 155 Mbps. These acquisitions will enable us to build deeper in our markets and expand our broadband wireless access services to increase long term value for our shareholders."

About Advanced Radio Telecom

Advanced Radio Telecom Corp., headquartered in Bellevue, Wash., is a provider of broadband wireless Internet Protocol (IP) access services at speeds up to 155 Mbps. ART currently owns and operates broadband wireless metropolitan area networks in Houston, Los Angeles, Phoenix, San Diego, San Jose, Seattle and Washington, D.C. and plans to expand to a total of 40 U.S. markets over the next two years. ART is a Cisco Powered Network(TM) service provider. ART has a nationwide footprint of 39GHz spectrum licenses in the United States, and owns 26GHz and/or 39GHz spectrum licenses in the United Kingdom and several Scandinavian countries. For more information, please visit ART's web site at www.ipsp.com.

The above information includes forward-looking statements regarding license acquisitions and network deployment. These statements are not guarantees of future performance. Known and unknown risks, uncertainties, and other factors, including without limitation, final FCC approval, capital requirements and other financial risks, customer demand, technological risks, management of growth, competition and government regulation may cause actual results to differ materially from the future results implied or expressed in the forward looking statements. Additional information about the most significant of such factors is set forth in ART's most recent annual report on Form 10-K. The Company does not undertake to update or revise its forward-looking statements publicly even if experience or future changes make clear that any projected results expressed or implied herein will not be realized.