FOR IMMEDIATE RELEASE

Contact:
Gail Scalfaro
Director of Investor Relations
941-308-5227


        Global Signal Inc. Prices $293.8 Million Secured Debt Offering

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Sarasota, Florida. November 18, 2004 - Global Signal Inc. (NYSE: GSL) today
announced the pricing of approximately $293.8 million fixed-rate commercial
mortgage pass-through certificates backed by a mortgage loan (the "Mortgage
Loan") issued by Pinnacle Towers Acquisition Holdings LLC, a wholly-owned
subsidiary of Global Signal. The weighted average interest rate on the various
classes of certificates is approximately 4.74%. The Mortgage Loan has an
expected life of 5 years and is scheduled to close on December 7, 2004.

The proceeds from the Mortgage Loan will be used to repay Global Signal's
credit facility and finance the future acquisition of wireless communications
sites including those that are under definitive purchase agreements or
non-binding letters of intent. The Mortgage Loan has an expected weighted
average loan-to-aggregate acquisition price ratio of approximately 65.3%.

The commercial mortgage pass-through certificates have not been registered
under the Securities Act of 1933, as amended, and may not be offered or sold
in the United States absent registration or an applicable exemption from
registration requirements. This press release shall not constitute an offer to
sell or the solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such state or jurisdiction.

Certain items in this press release may constitute forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of 1995
including, but not necessarily limited to, statements relating to the Mortgage
Loan's expected life, closing date, weighted average interest rate and
loan-to-aggregate acquisition price ratio, use of proceeds and composition,
our ability to close accretive acquisitions and close acquisitions under
purchase agreements and letters of intent. Words such as "anticipate(s),"
"expect(s)," "intend(s)," "plan(s)," "target(s)," "project(s)," "believe(s),"
"seek(s)," "estimate(s)" and similar expressions are intended to identify such
forward-looking statements. These statements are based on management's current
expectations and beliefs and are subject to a number of factors that could
lead to actual results materially different from those described in the
forward-looking statements; Global Signal can give no assurance that its
expectations will be attained. Factors that could cause actual results to
differ materially from Global Signal's expectations include, but are not
limited to, possibilities that changes in the capital markets, including
changes in interest rates and/or credit spreads or other factors could make
financing more expensive or unavailable to us; our continued ability to
acquire new towers at attractive prices which will generate returns consistent
with expectations; possibilities that the conditions to closing transactions
will not be satisfied; our ability to close on towers under non-binding
letters of intent which is generally less probable then closing on towers
under definitive agreements; and other risks detailed from time to time in
Global Signal's SEC reports including its Registration Statement on Form S-11
filed June 2, 2004. Such forward-looking statements speak only as of the date
of this press release. Global Signal expressly disclaims any obligation to
release publicly any updates or revisions to any forward-looking statements
contained herein to reflect any change in the Company's expectations with
regard thereto or change in events, conditions or circumstances on which any
statement is based.