<TABLE>
<CAPTION>
Exhibit 12
Ratio of Earnings to Fixed Charges
American Tower Corporation
The following table reflects the computation of the ratio of earnings to fixed
charges for the periods presented.
Period from
July 17, 1995 Six
(Incorporation) Months
Computation of to December 31, Ended
Earnings: 1995 Year ended December 31, June 30,
------------------------ ----------------- ------------------------------------------ -----------------
1996 1997 1998 1999 2000
<S> <C> <C> <C> <C> <C> <C>
Loss Before Income
Taxes and
Extraordinary Losses $ (184) $ (434) $ (2,049) $ (42,441) $ (49,141) $ (126,506)
Add:
Interest Expense.......... ----- ----- 3,040 23,229 27,492 71,044
Operating Leases.......... 2 126 633 3,245 6,963 6,324
--------------- -------------- ------------- ------------- ------------ -----------
Earnings as Adjusted....... (182) (308) 1,624 (15,967) (14,686) (49,138)
Computation of Fixed
Charges:
Interest Expense........... ----- ----- 3,040 23,229 27,492 71,044
Interest Capitalized ----- ----- 458 1,403 3,379 4,885
Operating Leases........... 2 126 633 3,245 6,963 6,324
--------------- -------------- ------------- ------------- ------------ ------------
Fixed Charges.............. 2 126 4,131 27,877 37,834 82,253
Ratio of Earnings to Fixed
Charges.................... ----- ----- .39 ----- ----- -----
Deficiency in Earnings
Required to Cover Fixed
Charges................ $ 184 $ 434 $ 2,507 $ 43,844 $ 52,520 $ 131,391
<FN>
(1) Interest expense includes amortization of deferred financing costs for
the years ended December 31, 1997, 1998 and 1999 and the six months
ended June 30, 2000. Interest expense also includes redeemable
preferred stock dividends in the aggregate amount of $3.1 million for
the year ended December 31, 1998.
(2) For purposes of this calculation "earnings" consist of loss before
income taxes and extraordinary losses and fixed charges (excluding
interest capitalized). "Fixed charges" consist of interest expensed and
capitalized, amortization of debt discount and related issuance costs
and the component of rental expense associated with operating leases
believed by management to be representative of the interest factor
thereon (30%).
</FN>
</TABLE>
