EXHIBIT 99.1
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CONTACT:   Investor Relations Department
           919-466-5492
           investorrelations@spectrasite.com
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          SPECTRASITE ANNOUNCES RESTATEMENT OF FINANCIAL STATEMENTS TO
           CORRECT ACCOUNTING FOR CERTAIN OPERATING LEASES AND TOWER
                              DEPRECIATION EXPENSE


CARY, NC, MARCH 2, 2005 - SpectraSite, Inc. (NYSE: SSI) announced today that,
after its review of the accounting treatment for certain operating leases and
leasehold improvements, and in consultation with its independent auditors, the
Company will restate certain prior period financial statements to correct an
error. The result of the restatement primarily will be to accelerate to earlier
periods the recognition of certain non-cash ground rent expense and to
accelerate to earlier periods the recognition of depreciation expense on certain
tower assets.

The restatement is not expected to impact historical or future cash flows
provided by operating activities, the actual timing or amounts of cash payments
under ground leases, the Company's liquidity position, or compliance with any
financial covenants under the Company's financing agreements.

The Company will restate results for the successor company for the eleven months
ended December 31, 2003, and the first three fiscal quarters of 2004.
Accordingly, the financial statements and independent auditors' reports
contained in the Company's filings with the Securities and Exchange Commission
for these periods should no longer be relied upon. In addition, on its fourth
quarter 2004 earnings call, scheduled for March 14, 2005, at 4:30 p.m. Eastern
Standard Time, the Company will also update its 2005 outlook to incorporate the
effects of its change in accounting.

ABOUT SPECTRASITE, INC.

SpectraSite, Inc. (www.spectrasite.com), based in Cary, North Carolina, is one
of the largest wireless tower operators in the United States. At September 30,
2004, SpectraSite owned or operated approximately 10,000 revenue producing
sites, including 7,802 towers and in-building systems primarily in the top 100
markets in the United States. SpectraSite's customers are leading wireless
communications providers, including Cingular, Nextel, Sprint PCS, T-Mobile and
Verizon Wireless.

SAFE HARBOR

This press release and oral statements made from time to time by representatives
of the Company may contain "forward-looking statements" concerning the Company's
financial and operating outlook, plans and strategies, its share repurchase
program and the trading markets for its securities. These forward-looking
statements are subject to a number of risks and uncertainties. The Company
wishes to caution readers that certain factors may impact the Company's actual
results and could cause results for subsequent periods to differ materially from
those expressed in any forward-looking statements made by or on behalf of the
Company. Such factors include, but are not limited to (i) the Company's
substantial capital requirements and debt, (ii) market conditions, (iii) the
Company's dependence on demand for wireless communications and related
infrastructure, (iv) competition in the communications tower industry, including
the impact of technological developments, (v) consolidation



in the wireless industry and the tower industry, (vi) future regulatory actions,
(vii) conditions in its operating areas, (viii) management's estimates and
assumptions included in the Company's 2005 outlook, and (ix) the results of the
Company's review of the accounting treatment of certain operating leases and
leasehold improvements. These and other important factors are described in more
detail in the "Risk Factors" and the "Management's Discussion and Analysis of
Financial Condition and Results of Operations" sections of the Company's SEC
filings and public announcements. The Company undertakes no obligation to update
forward-looking statements to reflect subsequently occurring events or
circumstances.

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