BOCA RATON, Fla., May 3 /PRNewswire/ -- SBA Communications Corporation
("SBA") announced that it has acquired Com-Net Construction Services, Inc. and
its affiliate Com-Net Development Group, LLC (collectively "Com-Net").
Com-Net provides turnkey construction services for communications towers and
terminal switches for wireless and other telecommunications companies,
primarily throughout the mid-western, eastern and western United States. At
closing, Com-Net owned 18 wireless communications towers, which are rented to
wireless communications companies. In addition, Com-Net has over 30
additional tower sites in various stages of development, most of which are
under build-to-suit programs where wireless communications carriers will be
the anchor tenant. For the year ended December 31, 1998, Com-Net had
construction revenues of over $20 million. The financial terms of the
transaction were not disclosed.
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
their inception, SBA and Com-Net have participated in the development of over
12,000 antenna sites in the United States. SBA currently owns over 635 towers
and has over 450 tower projects under various stages of development throughout
the nation.
Information Concerning Forward-Looking Statements
Some information in this release is forward-looking. These forward-
looking statements may be affected by the risks and uncertainties in the
company's business. This information is qualified in its entirety by
cautionary statements and risk factors disclosure contained in certain of the
company's Securities and Exchange Commission filings. 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. The company undertakes no obligation to update forward-looking
statements to reflect events or circumstances after the date hereof.
SOURCE SBA Communications Corporation
Web site: http: //www.sbasite.com
CONTACT: Jeffrey A. Stoops, Chief Financial Officer of SBA Communications Corporation, 561-995-7670