Crown Castle Announces Long-Term Modeo Spectrum Lease

HOUSTON — Crown Castle International Corp. (NYSE:CCI) today announced that a Crown Castle subsidiary has entered into a lease of its U.S. nationwide 1670 – 1675 MHz spectrum (“Spectrum”). The Spectrum will be leased to a venture formed by Telcom Ventures, LLC and Columbia Capital, LLC (“Lessee”) for a $13 million annual lease fee beginning July 23, 2007 until October 1, 2013. Upon the expiration of the initial term of the lease, the Lessee will have the right to acquire the Spectrum for $130 million, escalated at CPI from July 2007, or to renew the lease for a period of up to ten years on the same terms, subject to the annual lease fee increasing to $14.3 million. As part of such transaction, Crown Castle has transferred to Lessee the subsidiary holding the assets related to its trial network in New York City and will be the preferred provider of tower infrastructure for future tower sites as the Spectrum is deployed by Lessee.

As previously disclosed, Crown Castle expected to incur approximately $10 million of operating and general administrative costs in 2007 related to the Spectrum and its Modeo operations. As a result of the transactions described above, substantially all of the operating and general and administrative expenses in Modeo are expected to be eliminated. Crown Castle expects to adjust its full year 2007 outlook in conjunction with the release of its second quarter 2007 earnings on July 31, 2007. Further, Crown Castle expects to write-off all or substantially all of its Modeo assets, other than its Spectrum, in the third quarter 2007.