SBA Communications Corporation Announces First Quarter Operational Results

Apr 11, 2001, 01:00 ET from SBA Communications Corporation

    BOCA RATON, Fla., April 11 /PRNewswire/ --
 SBA Communications Corporation (Nasdaq: SBAC) ("SBA") reported that in the
 first quarter of 2001 it increased its tower portfolio by 449 towers to a
 total of 2,839 towers.  Of the 449 towers added in the first  quarter, 182
 were newly built and 267 were existing towers acquired by SBA.  The 267 towers
 were acquired in 21 separate transactions for an aggregate price of
 $91.8 million.  Based on tenant leases executed as of March 31, 2001, same
 tower revenue growth for the trailing twelve months on the 1,351 towers SBA
 owned as of March 31, 2000 was 34%.  With respect to the 2,390 towers owned at
 the beginning of the first quarter, SBA added 303 new tenant leases at an
 average initial monthly rental of $1,527, which is an annualized rate of .52
 new tenants per tower on a broadband equivalent basis.
     At March 31, 2001, SBA had agreements providing it with the right to
 acquire 306 additional existing towers in 29 separate transactions for an
 aggregate purchase price of $101.8 million.  These acquisitions are expected
 to close within the next six months. These numbers include the remaining
 portions of previously announced transactions to acquire towers from Telecorp
 PCS (up to 72 remaining towers for $23.6 million) and from US Unwired (up to
 159 towers for $49.8 million).  These numbers do not include an option to
 purchase up to 100 additional towers from US Unwired later in the year.  SBA
 is currently involved in projects for over 1,600 tower builds for its
 ownership throughout the nation, consisting of over 550 build-to-suit mandates
 from wireless carriers and over 1,050 sites SBA is developing through its
 strategic siting efforts.
     "We have had yet another strong operational quarter and continue to be
 pleased with the results," commented Steven E. Bernstein, CEO.  "We had an
 exceptional quarterly lease up rate of a .52 annualized tenants added per
 tower.  We are extremely pleased with the credit quality of the tenants we
 added to our towers.  Over 90% of the quarterly lease up revenues came from
 broadband installations."
     SBA will hold a conference call to discuss these results on Thursday,
 April 12, 2001 at 10:00 AM EDT.  The U.S. call-in number is (800) 553-0329;
 the International call-in number is (612) 332-0634.  The name of the
 conference call is "SBA 1st Quarter Operational Results."  You may also listen
 to this conference call via a webcast that can be accessed via the Internet at
 www.sbasite.com.  Please allow time to register before the call begins.  The
 replay will be available from April 12, 2001 at 2:30 p.m. through April 26,
 2001 at 11:59 p.m.  The U.S. telephone replay number is (800) 475-6701; the
 International replay number is (320) 365-3844.  The access code is 581262.
     SBA is a leading independent owner and operator of wireless communications
 infrastructure in the United States.  SBA's primary focus is the construction
 of new towers and acquisition of existing towers for its own account.  Since
 it was founded in 1989, SBA has participated in the development of over 15,000
 antenna sites in the United States.
     For additional information, please contact Pamela J. Kline, Vice
 President, Investor Relations, at 561-995-7670.
      Information Concerning Forward-Looking Statements
      This release contains forward-looking statements, including statements
 regarding the proposed closing dates for pending acquisitions and the credit
 quality of new tenants.  These forward-looking statements may be affected by
 the risks and uncertainties in the Company's business.  This information is
 qualified in its entirety by cautionary statements and risk factors disclosure
 contained in the Company's Securities and Exchange Commission filings,
 including its Annual Report on Form 10-K for the year ended December 31, 2000.
 The Company wishes to caution readers that certain important factors may have
 affected and could in the future affect the Company's actual results and could
 cause the Company's actual results for subsequent periods to differ materially
 from those expressed in any forward-looking statement made by or on behalf of
 the Company.  With respect to proposed acquisitions, a number of factors,
 including without limitation, ongoing due diligence, third party consents and
 the lack of definitive documentation may affect the timing of consummation or
 whether such acquisitions are ever consummated (of which there can be no
 assurance).  With respect to the credit quality of the Company's new tenants,
 a number of factors, including the general economic health of the economy, may
 affect the ability of our clients to continue to meet all their financial
 obligations under agreements with us.
 
 

SOURCE SBA Communications Corporation
    BOCA RATON, Fla., April 11 /PRNewswire/ --
 SBA Communications Corporation (Nasdaq: SBAC) ("SBA") reported that in the
 first quarter of 2001 it increased its tower portfolio by 449 towers to a
 total of 2,839 towers.  Of the 449 towers added in the first  quarter, 182
 were newly built and 267 were existing towers acquired by SBA.  The 267 towers
 were acquired in 21 separate transactions for an aggregate price of
 $91.8 million.  Based on tenant leases executed as of March 31, 2001, same
 tower revenue growth for the trailing twelve months on the 1,351 towers SBA
 owned as of March 31, 2000 was 34%.  With respect to the 2,390 towers owned at
 the beginning of the first quarter, SBA added 303 new tenant leases at an
 average initial monthly rental of $1,527, which is an annualized rate of .52
 new tenants per tower on a broadband equivalent basis.
     At March 31, 2001, SBA had agreements providing it with the right to
 acquire 306 additional existing towers in 29 separate transactions for an
 aggregate purchase price of $101.8 million.  These acquisitions are expected
 to close within the next six months. These numbers include the remaining
 portions of previously announced transactions to acquire towers from Telecorp
 PCS (up to 72 remaining towers for $23.6 million) and from US Unwired (up to
 159 towers for $49.8 million).  These numbers do not include an option to
 purchase up to 100 additional towers from US Unwired later in the year.  SBA
 is currently involved in projects for over 1,600 tower builds for its
 ownership throughout the nation, consisting of over 550 build-to-suit mandates
 from wireless carriers and over 1,050 sites SBA is developing through its
 strategic siting efforts.
     "We have had yet another strong operational quarter and continue to be
 pleased with the results," commented Steven E. Bernstein, CEO.  "We had an
 exceptional quarterly lease up rate of a .52 annualized tenants added per
 tower.  We are extremely pleased with the credit quality of the tenants we
 added to our towers.  Over 90% of the quarterly lease up revenues came from
 broadband installations."
     SBA will hold a conference call to discuss these results on Thursday,
 April 12, 2001 at 10:00 AM EDT.  The U.S. call-in number is (800) 553-0329;
 the International call-in number is (612) 332-0634.  The name of the
 conference call is "SBA 1st Quarter Operational Results."  You may also listen
 to this conference call via a webcast that can be accessed via the Internet at
 www.sbasite.com.  Please allow time to register before the call begins.  The
 replay will be available from April 12, 2001 at 2:30 p.m. through April 26,
 2001 at 11:59 p.m.  The U.S. telephone replay number is (800) 475-6701; the
 International replay number is (320) 365-3844.  The access code is 581262.
     SBA is a leading independent owner and operator of wireless communications
 infrastructure in the United States.  SBA's primary focus is the construction
 of new towers and acquisition of existing towers for its own account.  Since
 it was founded in 1989, SBA has participated in the development of over 15,000
 antenna sites in the United States.
     For additional information, please contact Pamela J. Kline, Vice
 President, Investor Relations, at 561-995-7670.
      Information Concerning Forward-Looking Statements
      This release contains forward-looking statements, including statements
 regarding the proposed closing dates for pending acquisitions and the credit
 quality of new tenants.  These forward-looking statements may be affected by
 the risks and uncertainties in the Company's business.  This information is
 qualified in its entirety by cautionary statements and risk factors disclosure
 contained in the Company's Securities and Exchange Commission filings,
 including its Annual Report on Form 10-K for the year ended December 31, 2000.
 The Company wishes to caution readers that certain important factors may have
 affected and could in the future affect the Company's actual results and could
 cause the Company's actual results for subsequent periods to differ materially
 from those expressed in any forward-looking statement made by or on behalf of
 the Company.  With respect to proposed acquisitions, a number of factors,
 including without limitation, ongoing due diligence, third party consents and
 the lack of definitive documentation may affect the timing of consummation or
 whether such acquisitions are ever consummated (of which there can be no
 assurance).  With respect to the credit quality of the Company's new tenants,
 a number of factors, including the general economic health of the economy, may
 affect the ability of our clients to continue to meet all their financial
 obligations under agreements with us.
 
 SOURCE  SBA Communications Corporation