Crown Castle International Corp. Announces Partnership With RAI - Radiotelevisione Italiana

Apr 27, 2001, 01:00 ET from Crown Castle International Corp.

    HOUSTON, April 27 /PRNewswire/ -- Crown Castle International Corp.
 (NYSE:   CCI) today announced that its subsidiary, CCR S.r.l., has agreed to
 purchase a 49 percent interest in RaiWay S.p.A, a subsidiary of RAI -
 Radiotelevisione Italiana S.p.A., the Italian state-owned television and radio
 broadcaster, for approximately $380 million.  RaiWay employs over 750 people
 and manages over 2,300 broadcast transmission sites across Italy, representing
 Italy's largest broadcast tower network.
     Key terms of the transaction include a television and radio broadcast
 transmission contract with RAI through 2014 and Crown Castle's right to
 appoint the Chairman and the Business Development Officer who will oversee the
 marketing of RaiWay's towers to wireless tenants.  The RaiWay transaction will
 be closed into escrow and is subject to approval by the Italian Ministry of
 Communication and anti-trust approval.
     Crown Castle contemplates that Poste Italiane, the Italian state-owned
 post office service, will purchase five percent of Crown Castle's interest in
 RaiWay for approximately $19 million in cash.
     "The RaiWay transaction leverages the experience we gained through our
 acquisition of the BBC transmission business in the UK and provides a premier
 operating platform necessary to capitalize on the tremendous opportunities in
 Italy, the largest mobile phone market in Europe," stated Ted B. Miller, Jr.,
 Chairman and CEO of Crown Castle International Corp.  "With five 3G license
 holders, including two insurgent operators, as well as the prospective
 deployment of digital television, we believe Italy will provide significant
 opportunities for an independent infrastructure provider with a proven
 operating track record.  This transaction reinforces our position as a major
 shared infrastructure provider with meaningful, scalable operations in Europe.
 Once again, Crown Castle is a first-mover in one of the world's fastest
 growing wireless markets."
     "We believe Crown Castle has proven an outstanding operational experience
 with the BBC privatization in the UK," stated Claudio Cappon, Director General
 of RAI.  "We believe that the combination of RaiWay's assets and Crown
 Castle's operational and development expertise will ensure quality broadcast
 services while maximizing the value of RaiWay's assets."
     CSFB and Lehman Brothers acted as financial advisors to Crown Castle on
 this transaction.
     Crown Castle has scheduled a conference call for Monday, April 30, 2001 at
 10:00 a.m. Eastern Time (9:00 a.m. Central Time).  To participate in the Crown
 Castle call, dial (913) 981-5532 at least ten minutes before the conference
 call begins and ask for the Crown Castle conference call.  A replay of the
 call will be available approximately two hours after the live broadcast ends
 and will be accessible until May 7, 2001.  To access the replay, dial
 (719) 457-0820 using a pass code of 750967.
     Investors, analysts and the general public will also have the opportunity
 to listen to the conference call free over the Internet by visiting the
 Company's website at www.crowncastle.com.  To listen to the live call on the
 web, please visit the website at least fifteen minutes early to register,
 download and install any necessary audio software.  For those who cannot
 listen to the live webcast, an archive will be available shortly after the
 call.
     Crown Castle engineers, deploys, owns and operates technologically
 advanced, shared wireless infrastructure.  It offers near-universal broadcast
 coverage in the United Kingdom and significant wireless communications
 coverage to 68 of the top 100 US markets and more than 90 percent population
 coverage in the UK, and Australia.  Pro forma for all closed and previously
 announced transactions, Crown Castle owns, operates, and manages over
 13,000 wireless communication towers internationally.  In addition, Crown
 Castle has development rights to 4,000 fiber exchange sites in the UK.  In
 Italy, Crown Castle and RAI, through RaiWay, offer near-universal broadcast
 coverage.  For more information on Crown Castle, visit: www.crowncastle.com.
     This press release contains various forward-looking statements and
 information that are based on Crown Castle management's beliefs, as well as
 assumptions made by and information currently available to management.
 Although Crown Castle 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 including, without limitation,
 (i) risks associated with the ownership of a minority interest including
 control and liquidity risks, (ii) currency risks, (iii) failure of Poste
 Italiane to participate in the RaiWay transaction, (iv) adverse laws or
 conditions relating to the wireless telecom or broadcast industry (including
 3G or digital television deployment) in Italy and (v) risks relating to the
 leveragability of Crown Castle's experience outside of Italy.  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 the potential factors, which could affect Crown Castle's
 financial results, is included in the Risk Factors sections of Crown Castle's
 filings with the Securities and Exchange Commission and in previous press
 releases issued by Crown Castle.
 
      Contacts: W. Benjamin Moreland, CFO
                Crown Castle International
                713-570-3000
 
                Ken Dennard, Easterly I.R.
                kdennard@easterly.com
                713-529-6600
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X35029100
 
 

SOURCE Crown Castle International Corp.
    HOUSTON, April 27 /PRNewswire/ -- Crown Castle International Corp.
 (NYSE:   CCI) today announced that its subsidiary, CCR S.r.l., has agreed to
 purchase a 49 percent interest in RaiWay S.p.A, a subsidiary of RAI -
 Radiotelevisione Italiana S.p.A., the Italian state-owned television and radio
 broadcaster, for approximately $380 million.  RaiWay employs over 750 people
 and manages over 2,300 broadcast transmission sites across Italy, representing
 Italy's largest broadcast tower network.
     Key terms of the transaction include a television and radio broadcast
 transmission contract with RAI through 2014 and Crown Castle's right to
 appoint the Chairman and the Business Development Officer who will oversee the
 marketing of RaiWay's towers to wireless tenants.  The RaiWay transaction will
 be closed into escrow and is subject to approval by the Italian Ministry of
 Communication and anti-trust approval.
     Crown Castle contemplates that Poste Italiane, the Italian state-owned
 post office service, will purchase five percent of Crown Castle's interest in
 RaiWay for approximately $19 million in cash.
     "The RaiWay transaction leverages the experience we gained through our
 acquisition of the BBC transmission business in the UK and provides a premier
 operating platform necessary to capitalize on the tremendous opportunities in
 Italy, the largest mobile phone market in Europe," stated Ted B. Miller, Jr.,
 Chairman and CEO of Crown Castle International Corp.  "With five 3G license
 holders, including two insurgent operators, as well as the prospective
 deployment of digital television, we believe Italy will provide significant
 opportunities for an independent infrastructure provider with a proven
 operating track record.  This transaction reinforces our position as a major
 shared infrastructure provider with meaningful, scalable operations in Europe.
 Once again, Crown Castle is a first-mover in one of the world's fastest
 growing wireless markets."
     "We believe Crown Castle has proven an outstanding operational experience
 with the BBC privatization in the UK," stated Claudio Cappon, Director General
 of RAI.  "We believe that the combination of RaiWay's assets and Crown
 Castle's operational and development expertise will ensure quality broadcast
 services while maximizing the value of RaiWay's assets."
     CSFB and Lehman Brothers acted as financial advisors to Crown Castle on
 this transaction.
     Crown Castle has scheduled a conference call for Monday, April 30, 2001 at
 10:00 a.m. Eastern Time (9:00 a.m. Central Time).  To participate in the Crown
 Castle call, dial (913) 981-5532 at least ten minutes before the conference
 call begins and ask for the Crown Castle conference call.  A replay of the
 call will be available approximately two hours after the live broadcast ends
 and will be accessible until May 7, 2001.  To access the replay, dial
 (719) 457-0820 using a pass code of 750967.
     Investors, analysts and the general public will also have the opportunity
 to listen to the conference call free over the Internet by visiting the
 Company's website at www.crowncastle.com.  To listen to the live call on the
 web, please visit the website at least fifteen minutes early to register,
 download and install any necessary audio software.  For those who cannot
 listen to the live webcast, an archive will be available shortly after the
 call.
     Crown Castle engineers, deploys, owns and operates technologically
 advanced, shared wireless infrastructure.  It offers near-universal broadcast
 coverage in the United Kingdom and significant wireless communications
 coverage to 68 of the top 100 US markets and more than 90 percent population
 coverage in the UK, and Australia.  Pro forma for all closed and previously
 announced transactions, Crown Castle owns, operates, and manages over
 13,000 wireless communication towers internationally.  In addition, Crown
 Castle has development rights to 4,000 fiber exchange sites in the UK.  In
 Italy, Crown Castle and RAI, through RaiWay, offer near-universal broadcast
 coverage.  For more information on Crown Castle, visit: www.crowncastle.com.
     This press release contains various forward-looking statements and
 information that are based on Crown Castle management's beliefs, as well as
 assumptions made by and information currently available to management.
 Although Crown Castle 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 including, without limitation,
 (i) risks associated with the ownership of a minority interest including
 control and liquidity risks, (ii) currency risks, (iii) failure of Poste
 Italiane to participate in the RaiWay transaction, (iv) adverse laws or
 conditions relating to the wireless telecom or broadcast industry (including
 3G or digital television deployment) in Italy and (v) risks relating to the
 leveragability of Crown Castle's experience outside of Italy.  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 the potential factors, which could affect Crown Castle's
 financial results, is included in the Risk Factors sections of Crown Castle's
 filings with the Securities and Exchange Commission and in previous press
 releases issued by Crown Castle.
 
      Contacts: W. Benjamin Moreland, CFO
                Crown Castle International
                713-570-3000
 
                Ken Dennard, Easterly I.R.
                kdennard@easterly.com
                713-529-6600
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X35029100
 
 SOURCE  Crown Castle International Corp.