American Tower and Telemedia Corporation To Form Canadian Venture.

Business/Technology Editors

MONTREAL and BOSTON--(BUSINESS WIRE)--March 2, 2000

American Tower Corporation (NYSE: AMT) today announced that it has entered into a joint venture with Telemedia Corporation, a privately held Canadian telecommunications company, to form Canadian Tower, L.P. Under the terms of the agreement, Canadian Tower, which is both Canadian controlled and operated, will develop and acquire both wireless and broadcast towers throughout Canada. The Company's initial assets include more than 20 broadcast towers contributed by Telemedia Radio Inc., a wholly owned subsidiary of Telemedia Corporation. These broadcast towers are located in major metropolitan areas, including Toronto, Montreal, Quebec City, Edmonton and Hamilton, and are well positioned to take advantage of both the strong demand for wireless applications as well as television broadcasters' eventual conversion from analog to digital.

Philippe de Gaspe Beaubien, Co-Chief Executive Officer of Telemedia Corporation, stated, "We are delighted to enter into this venture with American Tower. They are undoubtedly the leading infrastructure solutions provider in the United States, have a very strong management team and, much like Telemedia, truly understand the needs of broadcasters. Together with American Tower, we share the vision that the opportunities in Canada are substantial as wireless carriers continue the rapid expansion of their networks. We look to quickly grow Canadian Tower into the leading Canadian company serving the needs of both the wireless and broadcast communities."

Jim Eisenstein, Chief Development Officer of American Tower, added, "We are very excited to partner with Telemedia to pursue growth opportunities in Canada. Telemedia is one of the leading telecommunications companies in Canada, with significant investments and strong relationships in both the broadcast and wireless sectors. As we spent time with the de Gaspe Beaubiens, we quickly recognized that a joint venture with Telemedia would be a natural fit for American Tower. We look forward to working with Telemedia to pursue our collective goal of building the preeminent tower company in Canada."

American Tower will host a conference call on Friday, March 3, 2000 at 11:00 a.m. (Eastern) to discuss fourth quarter 1999 results and the Company's Canadian strategy. The call will be hosted by Joe Winn, Chief Financial Officer, who will be joined by Steve Dodge, Chief Executive Officer and Jim Eisenstein, Chief Development Officer. The dial-in numbers are US and Canada: 800-260-0702, international: 612-332-0107, no access codes required. A replay of the call will be available from 2:00 p.m. (Eastern) Friday, March 3, 2000 until 11:59 p.m. (Eastern) Friday, March 10, 2000. The replay dial-in numbers are US and Canada: 800-475-6701, and international: 320-365-3844, access code 502080. American Tower will also sponsor a live simulcast and replay of the call on its web site www.americantower.com.

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 over 10,400 sites in the United States, Mexico and Canada, including approximately 300 broadcast tower sites. Of the 10,400 sites, over 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 "forward-looking statements" 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.