American Tower Strikes 600 Tower Agreement with Iusacell in Mexico.

Business Editors

BOSTON--(BUSINESS WIRE)--Jan. 31, 2000

American Tower Corporation (NYSE:AMT) today announced that its subsidiary American Tower Corporation de Mexico S. de R.L. de C.V. (ATC Mexico) has entered into an agreement with Nuevo Grupo Iusacell, S.A. de C.V. (NYSE:CEL, BMV:CEL), the second largest telecommunications provider in Mexico. The agreement provides American Tower with the opportunity to construct approximately 200 build-to-suit towers and market a portfolio of approximately 400 existing towers. American Tower will retain the exclusive rights to acquire the approximately 400 existing towers through 2005, or earlier at Iusacell's option, subject to certain restrictions.

The build-to-suit towers will be constructed over the next two years in key metropolitan areas where Iusacell's expansion plans are most aggressive. These towers will be built to accommodate significant co-location demand, which will come from national and regional cellular, PCS, paging, microwave back-haul and other telecommunications service providers in Mexico. Wireless growth in Mexico has tripled to 6.9 million subscribers since 1997 and is projected to double in the next four years (Source: Strategis Group, September 1999). The existing group of wireless towers that will be marketed under this agreement are located in urban and rural areas of Mexico City, Guadalajara, Veracruz and Acapulco. Most of these towers have been significantly underutilized and offer capacity for future growth.

Michael Gearon Jr., Executive Vice President and Director of American Tower, added, &uot;Through the relationship we established with TV Azteca and now with Nuevo Grupo Iusacell, we have quickly grown to be one of the leading owners and marketers of tower clusters in Mexico. This transaction provides us more new construction in key populated markets, and an overall concentrated network of towers from which to maximize new co-location sales.&uot;

Tom Burgos, Vice President and Chief Technology Officer of Nuevo Grupo Iusacell, stated, &uot;We are pleased to be partnering with ATC Mexico as we continue to build out our digital network in Mexico. American's experience and reputation for high quality performance standards gives us confidence that the integrity of our existing tower structures will be maintained, while also ensuring that our expansion timelines will be met.&uot;

Nuevo Grupo Iusacell, S.A. de C.V. (NYSE:CEL, BMV:CEL) (New Iusacell) was organized as a limited liability stock company under the laws of Mexico on August 6, 1998. As a result of the exchange offer completed in August 1999, New Iusacell holds substantially all of the capital stock of Grupo Iusacell, S.A. de C.V. (Old Iusacell).

Grupo Iusacell, S.A. de C.V. (NYSE:CEL.Y, BMV:IUSACEL) (Old Iusacell) is a leading independent telecommunications company in Mexico. It provides wireless cellular service in four of Mexico's nine regions in the central portion of Mexico (including Mexico City) covering a total of 67 million POPs, representing approximately 69% of the country's total population. New Iusacell and Old Iusacell are under the management and operating control of subsidiaries of Bell Atlantic Corporation.

American Tower is the leading independent owner operator and developer of broadcast and wireless communications sites in North America. Giving effect to other pending transactions, American Tower operates approximately 10,400 sites in the United States and Mexico, including approximately 300 broadcast tower sites. Of the 10,400 sites, approximately 9,000 are owned or leased towers and approximately 1,400 are managed and lease/sublease sites. Based in Boston, American Tower has regional hub offices in Boston, Atlanta, Chicago, Houston, San Francisco and Mexico City. For more information about American Tower Corporation and ATC Teleports, please visit our web sites www.americantower.com and www.atcteleports.com.

This press release contains &uot;forward-looking statements&uot; concerning future expectations, plans or strategies that involve a number of risks and uncertainties. The Company wishes to caution readers that certain factors may have affected the Company's actual results and could cause results for subsequent periods to differ materially from those expressed in any forward-looking statement made by or on behalf of the Company. Such factors include, but are not limited to (i) substantial capital requirements and leverage principally as a consequence of its ongoing acquisitions and construction activities, (ii) dependence on demand for wireless communications, use of satellites for internet data transmission, and implementation of digital television, (iii) the success of the Company's tower construction program and (iv) the successful operational integration of the Company's business acquisitions. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances.