[SBA LOGO]
NEWS
FOR IMMEDIATE RELEASE
SBA COMMUNICATIONS CORPORATION ANNOUNCES SECOND QUARTER
OPERATIONAL RESULTS
BOCA RATON, FLORIDA, July 9, 2001 (NASDAQ: SBAC) - SBA Communications
Corporation ("SBA") reported that in the second quarter of 2001 it increased its
tower portfolio by 415 towers to a total of 3,254 towers. Of the 415 towers
added in the second quarter, 209 were newly built and 206 were existing towers
acquired by SBA. The 206 towers were acquired in 25 separate transactions for
an aggregate price of $70.1 million or approximately $340,000 per tower. Based
on tenant leases executed as of June 30, 2001, same tower revenue growth for the
trailing twelve months on the 1,660 towers SBA owned as of June 30, 2000 was
30%. With respect to the 2,839 towers owned at the beginning of the second
quarter, SBA added 321 new tenant leases at an average initial monthly rental of
$1,559, which is an annualized rate of .47 new tenants per tower on a broadband
equivalent basis.
At June 30, 2001, SBA had agreements providing it with the right to acquire 407
additional existing towers in 37 separate transactions for an aggregate purchase
price of $107.1 million, or approximately $263,000 per tower. These
acquisitions are expected to close within the next six months. These numbers
exclude SBA's option to purchase up to 100 additional towers from US Unwired
later in the year. SBA is currently involved in projects for over 1,600 tower
builds for its ownership throughout the nation, consisting of over 500 build-to-
suit mandates from wireless carriers and the remainder sites SBA is developing
through its strategic siting efforts.
SBA will hold a conference call to discuss these results on Tuesday, July 10,
2001 at 10:00 AM EDT. The U.S. call-in number is (888) 423-3271; the
International call-in number is (612) 332-0718. The name of the conference call
is "SBA 2nd Quarter Operational Results." You may also listen to this
conference call via a webcast that can be accessed via the Internet at
www.sbasite.com. Please allow time to register before the call begins. The
replay will be available from July 10, 2001 at 5:00 p.m. through July 24, 2001
at 11:59 p.m. The U.S. telephone replay number is (800) 475-6701; the
International replay number is (320) 365-3844. The access code is 594067.
SBA is a leading independent owner and operator of wireless communications
infrastructure in the United States. SBA's primary focus is the construction of
new towers and acquisition of existing towers for its own account. Since it was
founded in 1989, SBA has participated in the development of over 15,000 antenna
sites in the United States.
For additional information, please contact Pamela J. Kline, Vice President,
Investor Relations, at 561-995-7670.
Information Concerning Forward-Looking Statements
This release contains forward-looking statements, including statements
regarding the proposed closing dates for pending acquisitions and same tower
revenue growth. These forward-looking statements may be affected by the risks
and uncertainties in the Company's business. The Company wishes to caution
readers that certain important factors may have affected and could in the future
affect the Company's actual results and could cause the Company's actual results
for subsequent periods to differ materially from those expressed in any forward-
looking statement made by or on behalf of the Company, including those
cautionary statements and risk factors contained in the Company's Securities and
Exchange Commission filings, including its Annual Report on Form 10-K for the
year ended December 31, 2000. With respect to proposed acquisitions, a number
of factors, including without limitation, ongoing due diligence, third party
consents and the lack of definitive documentation may affect the timing of
consummation or whether such acquisitions are ever consummated (of which there
can be no assurance). With respect to same tower revenue growth, a number of
factors including without limitation the date of equipment installation may
affect for financial statement purposes when or whether the Company recognizes
on a going-forward basis the increased revenue.