Crown Castle International Reports Record Second Quarter and First Half Results.

Business Editors & High-Tech Writers

HOUSTON--(BUSINESS WIRE)--Aug. 9, 2000

Crown Castle International Corp. (Nasdaq:TWRS) today reported record results for the three months and six months ended June 30, 2000.

Revenues for the second quarter of 2000 increased 91 percent to $148.4 million compared to $77.5 million during the second quarter of 1999. Tower cash flow for the second quarter increased 58 percent to $52.2 million, up from $33.0 million in last year's second quarter. Second quarter earnings before interest, taxes, depreciation and amortization, or EBITDA, grew 85 percent to $58.2 million compared to $31.5 million in last year's second quarter. The company added 3304 tenants from acquisitions and 1246 new tenants in the second quarter of 2000 compared to 1224 tenants from acquisitions and 574 new tenants added in the second quarter of 1999.

Revenues for the first six months of 2000 increased 106 percent to $272.6 million compared to $132.6 million during the first six months of 1999. Tower cash flow for the first six months of 2000 increased 75 percent to $100.8 million, up from $57.6 million in last year's first six months. First half earnings before interest, taxes, depreciation and amortization, or EBITDA, grew 111 percent to $109.3 million compared to $51.9 million in last year's first half.

Net of anchor tenants on newly completed towers, the company added 1091 tenants during the second quarter, representing an annualized co-location rate of .50 tenants per tower on the 8,659 sites owned and managed at the beginning of the quarter.

"During the second quarter, we again delivered strong operating results that reflect the continued strength of the demand for our towers, the commitment and dedication of our employees, and our unrivaled ability to effectively integrate significant numbers of towers into our operations," stated Ted B. Miller, Jr., chairman and CEO of Crown Castle International. "We are very pleased with our strategic position within the industry and are focused on the task of maximizing the value of our assets to customers. We continue to seek new opportunities for capitalizing on the benefits of outsourcing shared infrastructure."

Crown Castle International Corp. engineers, deploys, owns and operates technologically advanced shared wireless infrastructure, including extensive networks of towers and rooftops as well as analog and digital audio and television broadcast transmission systems. The company offers near-universal broadcast coverage in the United Kingdom and significant wireless communications coverage to 68 of the top 100 United States markets, more than 95 percent of the UK population and more than 92 percent of the Australian population. Pro forma for all closed and previously announced transactions, Crown Castle International owns, operates and manages over 11,000 wireless communication towers internationally. For more information on Crown Castle International, visit: www.crowncastle.com.

This press release contains forward-looking statements and information that are based on management's belief as well as assumptions made by and information currently available to management. Although the company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Such statements are subject to certain risks, uncertainties and assumptions. Should one or more of these risks materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those expected. More information about potential factors, which could affect the company's financial results, is included in the Risk Factors sections of the company's filings with the Securities and Exchange Commission. The company assumes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

                   Crown Castle International Corp.
            Condensed Consolidated Statement of Operations
                       And Other Financial Data
                 (in thousands, except per share data)

                            Three Months Ended     Six Months Ended
                                 June 30,              June 30,
                           --------------------  --------------------
                             2000       1999       2000       1999
                           ---------  ---------  ---------  ---------
Net revenues:
  Site rental and
   broadcast transmission   $109,503    $62,177   $203,244   $107,503
  Network services and
   other                      38,856     15,350     69,359     25,133
                           ---------  ---------  ---------  ---------
    Total net revenues       148,359     77,527    272,603    132,636
                           ---------  ---------  ---------  ---------
Costs of operations:
  Site rental and
   broadcast transmission     48,563     26,557     88,850     45,084
  Network services and
   other                      20,007      8,175     35,908     15,157
                           ---------  ---------  ---------  ---------
    Total costs of
     operations               68,570     34,732    124,758     60,241
                           ---------  ---------  ---------  ---------
General and
 administrative               19,495      9,238     34,348     17,542
Corporate development          2,122      2,066      4,193      2,940
Restructuring charges             --         --         --      1,814
Non-cash compensation
 charges                         350        504        811      1,171
Depreciation and
 amortization                 56,647     29,863    101,769     49,519
                           ---------  ---------  ---------  ---------
Operating income (loss)        1,175      1,124      6,724       (591)
Interest and other income
 (expense)                     6,665      4,539     12,369      4,879
Interest expense and
 amortization of deferred
 financing costs             (66,728)   (26,556)  (108,489)   (37,842)
                           ---------  ---------  ---------   --------
Loss before income taxes,
 minority interests,
 extraordinary item and
 cumulative effect of
 change in accounting
 principle                   (58,888)   (20,893)   (89,396)   (33,554)
Provision for income
 taxes                           (25)       (70)       (36)      (197)
Minority interests              (317)       113     (1,858)      (572)
                           ---------  ---------  ---------  ---------
Loss before extraordinary
 item and cumulative
 effect of change in
 accounting principle        (59,230)   (20,850)   (91,290)   (34,323)
Extraordinary item:
  Loss on early
   extinguishment of debt         --         --     (1,495)        --
Cumulative effect of
 change in accounting
 principle for costs of
 start-up activities              --         --         --     (2,414)
                           ---------  ---------  ---------  ---------
Net loss                     (59,230)   (20,850)   (92,785)   (36,737)
Dividends on preferred
 stock                       (11,725)    (6,614)   (23,218)   (13,022)
                           ---------  ---------  ---------  ---------
Net loss after deduction
 of dividends on
 preferred stock            $(70,955)  $(27,464) $(116,003)  $(49,759)
                           =========  =========  =========  =========
Per common share - basic
 and diluted:
  Loss before
   extraordinary item and
   cumulative effect of
   change in accounting
   principle                  $(0.43)    $(0.22)    $(0.71)    $(0.43)
  Extraordinary item              --         --      (0.01)        --
  Cumulative effect of
   change in accounting
   principle                      --         --         --      (0.02)
                           ---------  ---------  ---------  ---------
  Net loss                    $(0.43)    $(0.22)    $(0.72)    $(0.45)
                           =========  =========  =========  =========
Common shares outstanding
 - basic and diluted         165,625    124,849    162,095    109,791
                           =========  =========  =========  =========
EBITDA (before
 restructuring charges):
  Site rental and
   broadcast transmission    $52,245    $32,989   $100,773    $57,647
  Network services and
   other                       5,927     (1,498)     8,531     (5,734)
                           ---------  ---------  ---------  ---------
    Total EBITDA             $58,172    $31,491   $109,304    $51,913
                           =========  =========  =========  =========