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EXHIBIT 99.1
[SPECTRASITE LOGO]
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Contact:
Noreen Allen Jeff Majtyka/Lenny Santiago
SpectraSite Communications Brainerd Communicators, Inc.
919-349-8992 212-986-6667
[email protected] [email protected]/[email protected]
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SPECTRASITE COMPLETES ACQUISITION OF FIRST GROUP OF SBC COMMUNICATIONS TOWERS
Cary, NC, December 15, 2000 - SpectraSite Holdings, Inc. (Nasdaq: SITE) today
announced that the company has completed the acquisition of 739 towers from SBC
Communications, Inc. (NYSE: SBC) under the terms of the agreement announced
August 28, 2000, granting SpectraSite exclusive sublease rights to 3,900 SBC
towers. This is the first of numerous closings scheduled to take place over the
next 15 months.
"Today we closed on 739 towers," said Steve Clark, CEO, SpectraSite. "Our
original plan was to close 3,250 towers by the end of 2001. With today's close,
we are well on our way to meeting that goal. As part of the first close, we
begin execution of the site marketing agreement with SBC, which means we can
begin to add tenants to the remainder of the SBC portfolio. Additionally, in an
effort to support the initial close and the site marketing agreement, we are
expanding our internal groups responsible for asset integration and collocation
marketing. Our relationship with SBC is off to a great start and we look forward
to a successful long-term partnership."
ABOUT SPECTRASITE COMMUNICATIONS, INC.
SpectraSite Communications, Inc. (www.spectrasite.com), based in Cary, North
Carolina, is one of the leading providers of shared antennae sites and
outsourced network services to the wireless communications and broadcast
industries in the United States and Canada. SpectraSite's business includes
owning and leasing antennae sites on towers, owning and leasing in-building
wireless distribution systems, owning and managing rooftops, network planning
and deployment, and construction of towers and related wireless facilities. Pro
forma for all pending transactions SpectraSite will own or manage more than
28,000 sites. SpectraSite's customers are leading wireless communications
providers and broadcasters, including Nextel, SBC, Sprint PCS, AT&T Wireless,
Verizon, BellSouth, Telecorp, Teligent, Winstar, Metricom, Cox Broadcasting,
Clear Channel Communications and Paxson Communications.
ABOUT SBC COMMUNICATIONS INC.
SBC Communications Inc. (http://www.sbc.com) is a global communications leader.
Through its subsidiaries' trusted brands -- Southwestern Bell, Ameritech,
Pacific Bell, SBC Telecom, Nevada Bell, SNET and Cellular One -- and world-class
network, SBC's subsidiaries provide local and long-distance
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phone service, wireless and data communications, paging, high-speed Internet
access and messaging, cable and satellite television, security services and
telecommunications equipment, as well as directory advertising and publishing.
In the United States, the company currently has 61.2 million access lines, 12.2
million wireless customers and is undertaking a national expansion program that
will bring SBC service to an additional 30 markets. Internationally, SBC has
telecommunications investments in more than 20 countries. With approximately
219,000 employees, SBC is the 13th-largest employer in the U.S., with annual
revenues that rank it among the largest Fortune 500 companies.
This press release contains "forward-looking statements" concerning future
expectations, plans or strategies that involve a number of risks and
uncertainties. These statements are based on a number of assumptions that
management believes are reasonable based on current business trends as of the
date of this release. The Company wishes to caution readers that certain factors
may have affected the Company's actual results and could cause results for
subsequent periods to differ materially from those expressed in any forward-
looking statement 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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