FiberTower Recognized as One of the Fastest Growing Technology Companies in North America on Deloitte's 2009 Technology Fast 500

SAN FRANCISCO, Oct. 29 /PRNewswire-FirstCall/ -- FiberTower Corporation (Nasdaq: FTWR), a wireless backhaul services provider, announced that it has been included in the Technology Fast 500(TM), Deloitte LLP's ranking of 500 of the fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. Rankings are based on percentage of fiscal year revenue growth during the five year period from 2004-2008. FiberTower ranked twentieth in the communications/networking category, 100th in the overall ranking and its revenue grew 1,776 percent during this period.

FiberTower's Chief Executive Officer and President, Kurt Van Wagenen, attributed the Company's growth to its disciplined focus on adhering to its core values, built on customer satisfaction, as well as secular demand trends. He said, "We appreciate Deloitte's Technology Fast 500 recognition of our success. Our growth is primarily due to the ongoing demand for wireless backhaul services driven by the wireless industry's transition to capacity intensive applications. We regard the honor as validation of our focus on meeting our customers' requirements with respect to cost, capacity and coverage during this critical juncture in the wireless industry's development."

"Technology Fast 500(TM) recognizes innovative companies that have broken down barriers to success and defied the odds with their remarkable five-year revenue growth," said Phil Asmundson, Vice Chairman and U.S. Technology, Media and Telecommunications leader, Deloitte LLP.

"We congratulate FiberTower on this accomplishment. With its impressive five-year growth, FiberTower has earned its position among the fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America," said Mark Jensen, Managing Partner, Technology and Venture Capital Services, Deloitte & Touche LLP." "Deloitte is proud to honor FiberTower for its achievement."

Overall, Technology Fast 500(TM) award winners for 2009 had growth rates ranging from 212 to 146,050 percent over five years, with an average growth rate of 2,486 percent.

Technology Fast 500(TM) Selection and Qualifying Criteria

Technology Fast 500(TM) provides a ranking of the fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. This ranking is compiled from nominations submitted directly to the Technology Fast 500(TM) website, and public company database research conducted by Deloitte. Technology Fast 500(TM) award winners for 2009 are selected based on percentage fiscal year revenue growth during the five year period from 2004 to 2008. To be considered, Fast 500 entrants must have met the following criteria:

• Must own proprietary intellectual property or proprietary technology that contributes to a significant portion of the company's operating revenues. Using other companies' technology or intellectual property in a unique way does not satisfy this requirement. Consulting companies, professional service firms, etc. are not eligible unless they have proprietary technology that contributes to a significant portion of their operating revenues.
• Base-year operating revenues must be at least $50,000 USD or CD, and current-year operating revenues must be at least $5 million USD or CD. These revenues must have more than doubled between 2004 and 2008.
• Must be in business for a minimum of five years.
• Must be headquartered within North America.
  

About FiberTower

FiberTower is a backhaul and access services provider focused primarily on the wireless carrier market. With its extensive spectrum footprint in 24 GHz and 39 GHz bands, carrier-class microwave and fiber networks in 13 major markets, master service agreements with nine U.S. wireless carriers, and partnerships with the largest tower operators in the U.S., FiberTower is considered to be the leading alternative carrier for wireless backhaul. FiberTower also provides backhaul and access service to government and enterprise markets. For more information, please visit our website at www.fibertower.com.

About Deloitte

"Deloitte" is the brand under which tens of thousands of dedicated professionals in independent firms throughout the world collaborate to provide audit, consulting, financial advisory, risk management, and tax services to selected clients. These firms are members of Deloitte Touche Tohmatsu (DTT), a Swiss Verein. Each member firm provides services in a particular geographic area and is subject to the laws and professional regulations of the particular country or countries in which it operates. DTT helps coordinate the activities of the member firms but does not itself provide services to clients. DTT and the member firms are separate and distinct legal entities, which cannot obligate the other entities. DTT and each DTT member firm are only liable for their own acts or omissions, and not those of each other. Each of the member firms operates under the names "Deloitte," "Deloitte & Touche," "Deloitte Touche Tohmatsu," or other related names. Each DTT member firm is structured differently in accordance with national laws, regulations, customary practice, and other factors, and may secure the provision of professional services in their territories through subsidiaries, affiliates and/or other entities.

    Investor Contact:
    Gus Okwu / DRG&E
    404-532-0086
    gokwu@drg-e.com

    Company Contact:
    Ornella Napolitano, VP and Treasurer
    FiberTower Corporation
    415-659-3580
    onapolitano@fibertower.com

SOURCE FiberTower Corporation

RELATED LINKS
http://www.fibertower.com