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Crown Castle Announces Agreement to Acquire NextG Networks
GlobeNewswire
2011-12-16

    Addition of Largest Provider of Outdoor Distributed Antenna
    Systems Will Broaden Crown Castle's Wireless Infrastructure
                             Offering

HOUSTON, Dec. 16, 2011 (GLOBE NEWSWIRE) -- Crown Castle International
Corp. (NYSE:CCI) announced today that it has entered into a definitive
agreement to acquire NextG Networks, Inc. ("NextG") for approximately
$1.0 billion in cash (subject to certain adjustments). NextG, the
largest provider of outdoor distributed antenna systems ("DAS"),
currently has over 7,000 nodes-on-air and a further 1,500 nodes under
construction. In addition, NextG has rights to over 4,600 miles of
fiber. DAS is a network of antennas connected by fiber to a
communications hub designed to facilitate wireless communications
services for multiple operators. The acquisition will expand Crown
Castle's portfolio of DAS, providing additional wireless coverage and
capacity solutions to customers beyond those areas traditionally served
by towers. The acquisition is expected to close in the second quarter
of 2012. Crown Castle expects to fund the acquisition with debt
financing.

"Increasingly, we believe that small-cell architecture, such as DAS,
will be an important complement to traditional macro tower
installations," said Ben Moreland, Crown Castle's President and Chief
Executive Officer. "We are very pleased with our anticipated
acquisition of NextG, which furthers our ability to extend wireless
infrastructure beyond those areas traditionally served by towers,
thereby broadening our service offering in this growing market and
positioning us to benefit from the continued demand for wireless data.
We expect the impact to recurring cash flow per share from the
contemplated acquisition and related expected debt financing to be
approximately neutral at closing. Further, we believe this acquisition
increases our growth rates and is accretive to long-term recurring cash
flow per share."

"Our agreement today is testament to the market leadership NextG has
achieved over the past few years and to the increasingly critical role
small-cell solutions, including DAS, have played and will play in the
future to ensure reliable and comprehensive wireless infrastructure,"
said Steven Moskowitz, NextG's Chief Executive Officer. "I am proud of
all that our employees have accomplished. We have significantly
expanded our footprint, broadened our customer relationships, improved
our network deployment efficiency, and continuously upgraded our
technology and customer service. Our technology solution will be
additive to Crown Castle's industry-leading offering, and I am
confident that NextG and its employees will be strong contributors to
Crown Castle's success for many years to come."

Consistent with Crown Castle's focus on the top 100 BTAs in the US,
over 90% of NextG nodes are in urban and suburban locations, with 80%
in the top ten US metropolitan areas, including New York, Los Angeles,
Chicago and Dallas Fort Worth. The NextG assets are expected to provide
significant growth, as they currently average only 1.25 tenants per
network. Following the contemplated acquisition, Crown Castle expects
to be the largest independent DAS operator in the US, with
approximately 10,000 nodes and 26 venues in operation or under
construction.

NextG is to be acquired from a group of investors led by Madison
Dearborn Partners, a private equity firm. Madison Dearborn, Accel
Partners, Redpoint Ventures and Meritech Capital Partners purchased
NextG in 2009. NextG is being advised by Deutsche Bank Securities Inc.,
Kirkland & Ellis LLP and Kelley Drye & Warren LLP. Crown Castle is
being advised by Cravath, Swaine & Moore LLP.

About Crown Castle

Crown Castle owns, operates, and leases towers and other infrastructure
for wireless communications. Crown Castle offers significant wireless
communications coverage to 92 of the top 100 US markets and to
substantially all of the Australian population. Crown Castle owns,
operates and manages over 22,000 and approximately 1,600 wireless
communication sites in the US and Australia, respectively. For more
information on Crown Castle, please visit www.crowncastle.com.

The Crown Castle International Corp. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=3063

About NextG Networks

NextG Networks is a market leader in outdoor DAS and other small-cell
solutions, using fiber-fed systems to operate carrier-class wireless
networks. With its proprietary fiber-optic architecture and expertise
in public way access, NextG designs, permits, builds, operates and
manages low power wireless networks. NextG's distributed systems are
protocol-neutral, enabling them to support multiple wireless carriers,
services and technologies. NextG provides transport and backhaul
services to wireless service providers over discrete, multi-frequency,
scalable fiber networks that improve wireless service coverage,
capacity and performance. With main offices in Boston, MA, and Silicon
Valley, CA, NextG operates wholly-owned regional subsidiaries
throughout the United States. For information, visit NextG Networks
online at www.nextgnetworks.net.

About Madison Dearborn Partners

Madison Dearborn Partners, based in Chicago, is one of the most
experienced and successful private equity investment firms in the
United States. Since MDP's formation in 1992, the firm has raised six
funds with aggregate capital of over $18 billion and has completed
approximately 120 investments. MDP invests in businesses across a broad
spectrum of industries, including basic industries; consumer; financial
services; health care; and telecom, media and technology services.
Madison Dearborn has a long and successful track record of
wireless-related investments, including MetroPCS Communications,
Asurion, Omnipoint Corporation, Alaska Native Wireless, Clearnet
Communications, Nextel Communications, Nextel Partners and Weather
Investments. Other Madison Dearborn investments in the telecom, media
and technology services space include Fieldglass, XM Satellite Radio,
Intelsat and Univision Communications. For more information, please
visit www.mdcp.com.

Cautionary Language Regarding Forward-Looking Statements

This press release contains forward-looking statements that are based
on Crown Castle management's current expectations. Such statements
include plans, projections and estimates regarding (i) the timing of
closing of the contemplated acquisition of NextG ("Contemplated
Acquisition"), (ii) funding of the Contemplated Acquisition, (iii) the
utility and role of DAS and small-cell architecture, (iv) the impact of
the Contemplated Acquisition on Crown Castle's success and operating
results, including growth rates and recurring cash flow per share, (v)
growth opportunity of NextG assets, and (vi) Crown Castle's relative
position in the DAS market following the Contemplated Acquisition. Such
forward-looking statements are subject to certain risks, uncertainties
and assumptions, including prevailing market conditions and other
factors. Should one or more of these risks or uncertainties
materialize, or should underlying assumptions prove incorrect, actual
results may vary materially from those expected. More information about
potential risk factors that could affect Crown Castle's results is
included in our filings with the Securities and Exchange Commission.
The term "including," and any variation thereof, means "including,
without limitation."


CONTACT:  Jay Brown, CFO
          Fiona McKone, VP - Finance
          Crown Castle International Corp.
          713-570-3050



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