SBA Communications (SBAC) 8-K Regulation FD Disclosure

1

Tower Portfolio Location

National footprint

Large, geographically diverse portfolio

Low lease churn

Zoning restrictions limit competition

Tenant leases typically include contractual rent

escalators

State

Sites

% ARRNCF

(1)

Georgia

335

8.4%

Tennessee

313

6.6%

Florida

164

6.6%

North Carolina

245

5.5%

Alabama

282

5.5%

Arkansas

315

4.9%

Texas

334

4.4%

Pennsylvania

226

4.4%

Louisiana

281

4.2%

New York

134

3.9%

Other

2,346

45.4%

Total

4,975

100.0%

Site Location (BTA)

(2)

Site Location (BTA)

Site Location (BTA)

(2)

(2)

State Breakdown

State Breakdown

State Breakdown

56%

22%

10%

12%

0%

20%

40%

60%

Top 100

101 - 200

201 - 300

301 +

SBA Towers

Note: All data for the subsidiaries’

tower portfolio as of October 1, 2006. Percentages may not add due to rounding.

(1)

Based on Annualized Run Rate Net Cash Flow as of October 1, 2006.

(2)

Represents

percentage

of

Annualized

Run

Rate

Net

Cash

Flow

from

Sites

within

each

group

of

BTAs

(Basic

Trading

Areas).

BTAs

are

ranked

by

population,

with

the

"Top

100"

BTAs

representing

the

100 highest-populated BTAs

out

of

493

total

BTAs.

BTAs

are

geographic

boundaries

that

segment

the

U.S.

for

licensing

purposes.

The

FCC

has

used

BTAs

to

license

a

number

of

wireless

services

including

broadband

and

narrow

band

Personal

Communication

Services.

Exhibit 99.1

2

201 - 250 ft

20.8%

251 - 300 ft

22.5%

301+ ft

14.5%

150 - 200 ft

31.1%

< 150 ft

11.1%

Monopole

25.9%

Lattice

45.6%

Guyed

24.5%

Multiple and

Other

Structures

4.0%

Tower Height

(2)

Tower Height

Tower Height

(2)

(2)

Tower Statistics

Structure Type

(3)

Structure Type

Structure Type

(3)

(3)

Average Tenants per Site:  2.6

Annualized Run Rate Revenue / Site:  $53,880

Annualized

Run

Rate

Tower

Cash

Flow

(“TCF”)

/

Site:

$42,193

(1)

Annualized Run Rate TCF Margin:  78%

Annualized Run Rate Net Cash Flow / Site:  $37,400

Site Financials

Site Financials

Site Financials

Note:

All

data

for

the

subsidiaries’

tower

portfolio

as

of

October

1,

2006.

Percentages

may

not

add

due

to

rounding.

(1)

See

Appendix

page

36

for

definition

of

Annualized

Run

Rate

Tower

Cash

Flow

(“ARRTCF”).

(2)

Percentages represent percent of total number of towers.

(3)

Percentages represent percent of Annualized Run Rate Net Cash Flow as of October 1, 2006.

3

Cingular, 26.6%

Sprint-Nextel, 26.6%

Verizon, 9.7%

T-Mobile, 8.2%

Alltel, 4.4%

Big 4 Affiliates, 3.6%

Other Telephony,

14.4%

Paging, 2.2%

Other Non-Telephony,

3.4%

Government, 1.0%

Tenant Breakdown

Tenant Breakdown

Tenant Breakdown

4.4%

(1)

A2/A-/A

Alltel

9.7%

(2)

A3/A/A+

Verizon

26.6%

(1)

Baa3/BBB+/BBB+

Sprint Nextel

(3)

8.2%

(1)

A3/A-/A-

T-Mobile

(4)

21.0%

(1)

Other

100.0%

(1)

Total

3.6%

(1)

Big 4 Affiliates

26.6%

(2)

Baa1/A/A

Cingular

% of Annualized

Run Rate

Revenue

Rating

(2)

(Moody’s/S&P/Fitch)

Tenant

Top Tenants

Top Tenants

Top Tenants

Note:  All data for the subsidiaries’

tower portfolio as of October 1, 2006. Percentages may not add due to rounding.

(1)

May represent ratings of an affiliate.

(2)

Ratings as of October 13, 2006.

(3)

Sprint Nextel includes Sprint affiliates U.S. Unwired and Gulf Coast.

(4)

T-Mobile USA, Inc. is a subsidiary of Deutsche Telekom AG. Rating based on Deutsche Telecom AG.

77%

of

Annualized

Run

Rate

Revenue

from

the

Sites

is

derived

from

tenants

with

an

investment

grade

rating

(1)

71% of Annualized Run Rate Revenue derived from Big 4 wireless carriers

75% if including Big 4 affiliates

93% of Annualized Run Rate Revenue comes from telephony

Tenant Base

4

15+ yrs

90.3%

10 - 15 yrs

4.1%

<= 5 yrs

1.4%

5 - 10 yrs

2.1%

Other

2.0%

Tower Capacity / Tenant Lease Terms

Note:  All data for the subsidiaries’

tower portfolio as of October 1, 2006. Percentages may not add due to rounding.

(1)

Percentages represent percent of total number of Sites.  There is one Site with no tenants.

(2)

Includes renewal options exercisable at the discretion of the tenant. 

(3)

Remaining term durations are assumed to be one month for oral tenant leases (0.05% of Annualized Run Rate Revenue).

(4)

Other includes executed but not yet commenced tenant leases.

Most towers are designed for telephony tenants and have ample

capacity for lease up

Currently 2.6 tenants per Site (including 2.2 telephony tenants)

Weighted average remaining term for tenant lease is 20.2 years

including renewals exercisable by tenants / 3.3 years excluding

renewals

Most tenant leases have automatic renewal provisions

Remaining Tenant Lease Terms

(2) (3)

Remaining Tenant Lease Terms

Remaining Tenant Lease Terms

(2) (3)

(2) (3)

Highlights

Highlights

Highlights

Tenants per Site

(1)

Tenants per Site

Tenants per Site

(1)

(1)

4

Tenants

10.9%

3

Tenants

18.5%

2

Tenants

27.9%

1 Tenant

30.6%

5+

Tenants

12.1%

(4)

5

Ground Lease,

83.1%

Owned,

14.6%

Easement, 2.3%

Real Estate / Ground Lease Terms

91% of the Sites are on land that is owned or controlled by

ground leases for more than 14 years

(1)

90% of Annualized Run Rate Net Cash Flow is on owned

Sites or ground leases that expire beyond 14 years

(1)

Weighted average remaining term:  29.6 years

Land Beneath Tower

(2)

Land Beneath Tower

Land Beneath Tower

(2)

(2)

Summary

Summary

Summary

Note:  All data for subsidiaries’

tower portfolio as of October 1, 2006. Percentages may not add due to rounding.

(1)

Includes renewal options exercisable at the discretion of the subsidiaries.

(2)

Percentages represent percent of Annualized Run Rate Net Cash Flow.

(3)

Includes Sites on owned land and easement Sites.

Non-Ground

Lease,

16.9%

192+,

73.1%

169 to 192,

2.7%

145 to 168,

4.3%

< 145,

3.0%

Remaining Lease Terms (mos)

(2)

Remaining Lease Terms (mos)

Remaining Lease Terms (mos)

(2)

(2)

(3)