Advanced Radio Telecom and Crescent Real Estate Equities Announce Major Portfolio Agreement; Agreement Provides ART Rooftop Access to Prime Buildings Nationwide.

Business Editors, High-Tech Writers

BELLEVUE, Wash.--(BUSINESS WIRE)--Dec. 18, 2000

Advanced Radio Telecom Corp. (ART)(Nasdaq:ARTT), a leading broadband wireless Internet Protocol (IP) access services provider, today announced the execution of a nationwide access agreement with Crescent Real Estate Equities Company (NYSE:CEI), a real estate investment trust.

The agreement allows ART to deliver its broadband IP products and services to Crescent's entire real estate portfolio of 91 buildings located primarily in Texas, New Mexico, Colorado, California and Arizona, totaling over 28 million square feet and servicing approximately 2,000 tenants.

"Crescent is a leader in providing top of the line technology capabilities to our customers, ensuring that they have the tools to execute their business plans effectively," said Howard Lovett, Crescent's Vice President - New Business & Technology Services. "We believe ART's IP broadband service will offer our customers flexibility, rapid installation, and diversity in a true high bandwidth offering due to their wireless delivery mechanism."

"ART has signed several portfolio agreements with major real estate firms across the nation," said Anthony Bontrager, ART's vice president, real estate. "Our partnership with Crescent exemplifies our winning strategy to secure alliances with top real estate ownership groups in an effort to provide their tenants with the nation's first 100 Mbps pure-IP metro access service."

About ART

Advanced Radio Telecom Corp. (ART) provides broadband fixed wireless Internet Protocol (IP) services with Ethernet interface to Integrated Communication Service Providers (ICPs), Internet Service Providers (ISPs), Application Service Providers (ASPs) and interexchange carriers (IXCs). ART offers a point-to-consecutive-point network ring design with speeds up to 100 Mbps, as well as dedicated, protected and redundant OC-3 connectivity with speeds up to 155 Mbps. Using ART's highly scalable network architecture, ICPs, ISPs, ASPs and IXCs can extend Local Area Networks to Wide Area Networks at native LAN speeds for their own end-user customers. ART provides this last-mile connectivity without the delay and disruption that can occur with phone company hook-up or fiber optic installation. ART is a Cisco Powered Network Service(TM) provider headquartered in Bellevue, Wash.

ART currently owns and operates broadband wireless metropolitan area networks in Dallas/Ft. Worth, Houston, Los Angeles, Phoenix, Portland, San Diego, San Jose, Seattle and Washington, D.C. ART has a nationwide footprint of 39GHz spectrum licenses in the United States, and spectrum licenses in the United Kingdom and several Scandinavian countries. For more information, visit ART's website at www.ipsp.com.

About Crescent Real Estate Equities Company

Crescent Real Estate Equities Company, one of the country's largest real estate investment trusts, owns and manages, through its subsidiaries, a diversified portfolio consisting of Class A office properties, luxury resorts and spas, and residential developments. Its mission is to expand the dimensions of business for its customers and maximize value to its shareholders by distinguishing itself as the undisputed leader in each of its businesses. Crescent will accomplish these goals by providing exceptional customer service and asset quality and by executing a disciplined real estate investment and operating strategy that focuses on market leadership, innovative growth opportunities, and outstanding customer, employee and partner alliances.

The above information includes forward-looking statements regarding services. These statements are not guarantees of future performance. Known and unknown risks, uncertainties, and other factors, including without limitation, capital requirements, need for additional financing and other financial risks, changes to the strategy and business plan, customer demand, technological risks, management of growth, satisfying borrowing conditions, 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.