Europe : Crown Castle announced it has completed an amended $1.6 billion credit facility for its restricted group operating company ("Opco Facility") and has made certain changes to its capital structure.

Crown Castle also announced the completion of its negotiations in the UK with British Telecommunications plc ("BT") to eliminate $48 million of site acquisition obligations and with Hutchison 3G UK Limited ("3") to amend the minimum site commitment under the agreements with 3.

Under the terms of the amended bank agreement, the Opco Facility is comprised of a $192.5 million Term A loan, a $1.1 billion Term B loan and an unfunded $350 million revolving credit facility. The amended facility increased the Term B loan by $702 million, extended the Term B loan maturity from March 2008 to September 2010, reduced the Term A loan by $100 million and reduced the revolving credit facility commitment by $150 million.

Crown Castle also designated its UK subsidiary as a restricted subsidiary, as defined in Crown Castle's bond indentures and Opco Facility. Crown Castle will repay the outstanding balance of its UK senior credit facility and redeem its UK 9% Guaranteed Bonds due 2007 ($99.2 million and $206.6 million outstanding at June 30, 2003, respectively). Crown Castle intends to use the excess proceeds of approximately $300 million from the new Term B loan to purchase certain of its higher coupon senior securities.

Additionally, Crown Castle's UK subsidiary, Crown Castle UK Limited ("CCUK"), has reached agreement with BT to amend certain provisions of its agreements. Under terms of its revised agreements with BT and consistent with Crown Castle's previously provided guidance, CCUK will not be required to make any further site access payments to BT.

CCUK has also reached agreement with 3 to amend certain provisions of its agreements. Under terms of its revised agreements with 3, CCUK has received a 1,350 minimum site commitment together with confirmation that CCUK will continue to remain as 3's preferred site provider in the UK for the deployment of third generation sites. Additional details of the revised agreements with 3 along with the revised agreements with BT will be contained in a Form 8-K to be filed with the Securities and Exchange Commission.