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February 26, 2009

Crown Castle Q4 net loss narrows

Posts a revenue of $39.2m compared to $37.5m for the same period in 2007

By CBR Staff Writer

Crown Castle International, an owner and operator of towers and other communication structures, has posted a net loss of $63.8m, or $0.24 per share, for the fourth quarter ended December 31, 2008, compared to a net loss of $80.2m, or $0.30 per share, for the same period in 2007.

For the fourth quarter ended December 31, 2008, the company has reported net revenues of $39.2m, compared to net revenues of $37.5m for the same period in 2007.

Adjusted EBITDA for fourth quarter 2008 increased $16.2m, or 8%, to $225.4m, up from $209.2m for the same period in 2007.

Net loss was $48.9m, or $0.25 per share, for full year 2008 compared to a net loss of $222.8m, or $0.87 per share, for 2007. Adjusted EBITDA for full year 2008 increased $108.5m, or 14%, to $867.1m, up from $758.6m for full year 2007.

For the full year ended December 31, 2008, the company has reported net revenues of $1.52 billion, compared to net revenues of $1.38 billion for the same period in 2007.

Ben Moreland, president and CEO of Crown Castle, said: Despite current economic conditions, leasing demand for our towers remains strong and consistent with levels experienced in 2007 and 2008, fueled by the continued demand for voice and 3G data services and the continued migration from landlines to wireless. Data revenues continue to be of increasing importance to the carriers and our results indicate that we are well-positioned to take advantage of this trend in wireless communications.

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