Equity Inns Selects SpectraSite to Represent Rooftop Leasing Activity

Apr 25, 2001, 01:00 ET from SpectraSite Communications, Inc.

Deal Adds 96 Strategically-Located Properties to Spectrasite Rooftop Portfolio
 
     CARY, N.C. and MEMPHIS, Tenn., April 25 /PRNewsire/ --
     SpectraSite Communications, Inc. (Nasdaq:   SITE) today announced an
 agreement with Equity Inns, Inc. (NYSE:   ENN), a major hotel real estate
 investment trust (REIT), that provides management rights to rooftop
 telecommunication opportunities for Equity Inns' properties.
     Under the agreement, SpectraSite will have exclusive rooftop management
 rights for Equity Inns' 96 properties.  SpectraSite will market rooftop space
 on the properties to wireless communications carriers and facilitate lease
 agreements on behalf of Equity Inns.  The agreement gives wireless carriers
 potential access to 77 Equity Inns rooftops nationwide with another 19
 properties to be added shortly.
     "We continue to aggressively seek opportunities to improve shareholder
 returns," said Howard Silver, president and chief operating officer of Equity
 Inns.  "Leasing our hotels' rooftop space to telecommunications companies to
 support wireless devices creates an excellent source of new revenue at no cost
 to the REIT.  With the passing of the REIT Modernization Act in January,
 Equity Inns now has more control over our assets and is able to seek these
 types of transactions."
     "These sites are in prime locations - concentrated in major metropolitan
 areas - and are a great complement to our existing portfolio," said Dale
 Carey, President, SpectraSite Building Division.  "This agreement will allow
 us to offer more sites to our lease customers and will enable Equity Inns to
 turn idle rooftops into revenue-producing assets.  It's a good opportunity for
 both companies."
 
     About SpectraSite Communications
     SpectraSite Communications, Inc. (http://www.spectrasite.com ), based in
 Cary, N.C., is one of the largest wireless tower operators in the U.S.  The
 company also is a leading provider of outsourced network services to the
 wireless communications and broadcast industries in the U.S. and Canada.  Pro
 forma for all pending transactions, SpectraSite owns or manages approximately
 30,000 sites, including 8,200 owned towers in the top 100 markets in the
 United States.  SpectraSite's customers are leading wireless communications
 providers and broadcasters, including Nextel, Cingular, SBC, Sprint PCS, AT&T
 Wireless and Verizon Wireless.
 
     About Equity Inns
     Equity Inns, Inc. (http://www.equityinns.com ) is a Memphis-based, self-
 advised REIT that focuses on the upscale extended stay, all-suite and midscale
 limited-service segments of the hotel industry.  The company owns a
 geographically diverse portfolio of 96 hotels with approximately 12,300 rooms,
 located in 34 states.  The company's hotels are franchised primarily by
 Marriott, Hilton and Prime and include the following leading brands:  Homewood
 Suites and Hampton Inn by Hilton, Residence Inn by Marriott and AmeriSuites by
 Prime Hospitality.
     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
 impact the Company's actual results and could cause results for subsequent
 periods to differ materially from those expressed in any forward-looking
 statements 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, (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.
 
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SOURCE SpectraSite Communications, Inc.
Deal Adds 96 Strategically-Located Properties to Spectrasite Rooftop Portfolio
 
     CARY, N.C. and MEMPHIS, Tenn., April 25 /PRNewsire/ --
     SpectraSite Communications, Inc. (Nasdaq:   SITE) today announced an
 agreement with Equity Inns, Inc. (NYSE:   ENN), a major hotel real estate
 investment trust (REIT), that provides management rights to rooftop
 telecommunication opportunities for Equity Inns' properties.
     Under the agreement, SpectraSite will have exclusive rooftop management
 rights for Equity Inns' 96 properties.  SpectraSite will market rooftop space
 on the properties to wireless communications carriers and facilitate lease
 agreements on behalf of Equity Inns.  The agreement gives wireless carriers
 potential access to 77 Equity Inns rooftops nationwide with another 19
 properties to be added shortly.
     "We continue to aggressively seek opportunities to improve shareholder
 returns," said Howard Silver, president and chief operating officer of Equity
 Inns.  "Leasing our hotels' rooftop space to telecommunications companies to
 support wireless devices creates an excellent source of new revenue at no cost
 to the REIT.  With the passing of the REIT Modernization Act in January,
 Equity Inns now has more control over our assets and is able to seek these
 types of transactions."
     "These sites are in prime locations - concentrated in major metropolitan
 areas - and are a great complement to our existing portfolio," said Dale
 Carey, President, SpectraSite Building Division.  "This agreement will allow
 us to offer more sites to our lease customers and will enable Equity Inns to
 turn idle rooftops into revenue-producing assets.  It's a good opportunity for
 both companies."
 
     About SpectraSite Communications
     SpectraSite Communications, Inc. (http://www.spectrasite.com ), based in
 Cary, N.C., is one of the largest wireless tower operators in the U.S.  The
 company also is a leading provider of outsourced network services to the
 wireless communications and broadcast industries in the U.S. and Canada.  Pro
 forma for all pending transactions, SpectraSite owns or manages approximately
 30,000 sites, including 8,200 owned towers in the top 100 markets in the
 United States.  SpectraSite's customers are leading wireless communications
 providers and broadcasters, including Nextel, Cingular, SBC, Sprint PCS, AT&T
 Wireless and Verizon Wireless.
 
     About Equity Inns
     Equity Inns, Inc. (http://www.equityinns.com ) is a Memphis-based, self-
 advised REIT that focuses on the upscale extended stay, all-suite and midscale
 limited-service segments of the hotel industry.  The company owns a
 geographically diverse portfolio of 96 hotels with approximately 12,300 rooms,
 located in 34 states.  The company's hotels are franchised primarily by
 Marriott, Hilton and Prime and include the following leading brands:  Homewood
 Suites and Hampton Inn by Hilton, Residence Inn by Marriott and AmeriSuites by
 Prime Hospitality.
     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
 impact the Company's actual results and could cause results for subsequent
 periods to differ materially from those expressed in any forward-looking
 statements 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, (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.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X14014188
 
 SOURCE  SpectraSite Communications, Inc.