<PAGE>
CROWN CASTLE INTERNATIONAL Prices Offering
of Common STOCK
HOUSTON - JANUARY 12, 2001 - Crown Castle International Corp. (NASDAQ:TWRS)
announced today that it priced a public offering of common stock. Crown Castle
will offer 12,000,000 shares of common stock at a price of $26.25 per share, and
has granted the underwriter an over-allotment option to purchase an additional
1,800,000 shares of common stock.
The closing of the offering is expected to occur on January 17, 2001 and is
subject to customary closing conditions. The shares from the offering will be
sold pursuant to Crown Castle's shelf registration statement. The net proceeds
of the offerings will be used for general corporate purposes including capital
expenditures and acquisition of shared communications infrastructure.
"Crown Castle sees tremendous opportunities to further its leadership
position in providing shared communications infrastructure to the wireless
industry," stated W. Benjamin Moreland, Chief Financial Officer of Crown Castle
International. "In this challenging market
<PAGE>
climate, the Company remains committed to maintaining a fully-funded business
plan that best positions it to create long-term value for its shareholders."
A shelf registration statement relating to the shares was previously
declared effective by the Securities and Exchange Commission. The shares may be
offered only by means of a prospectus supplement. A copy of the prospectus
supplement and related base prospectus relating to the common stock offering may
be obtained from Goldman Sachs & Co.
Crown Castle International Corp. engineers, deploys, owns and operates
technologically advanced shared wireless infrastructure, including extensive
networks of towers and rooftops as well as analog and digital audio and
television broadcast transmission systems. The Company offers near-universal
broadcast coverage in the United Kingdom and significant wireless communications
coverage to 68 of the top 100 United States markets, more than 95 percent of the
UK population and more than 92 percent of the Australian population. Pro forma
for all closed and previously announced transactions, Crown Castle International
owns, operates and manages over 12,000 wireless communication towers
internationally. For more information on Crown Castle International, visit:
www.crowncastle.com.
[LOGO]
THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER OF ANY SECURITIES FOR SALE. A
SHELF REGISTRATION STATEMENT RELATING TO THE FOREGOING HAS PREVIOUSLY BEEN FILED
AND DECLARED EFFECTIVE. ANY OFFER, IF AT ALL, WILL BE MADE ONLY BY MEANS OF A
PROSPECTUS SUPPLEMENT FORMING A PART OF SUCH REGISTRATION STATEMENT.
This press release contains forward-looking statements and information that are
based on management's belief 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. 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 potential factors, which could affect the company's financial
results, is included in the Risk Factors sections of the company's filings with
the Securities and Exchange Commission. The company assumes no obligation to
update publicly any forward-looking statements, whether as a result of new
information, future events or otherwise.
# # #
