News

CEQUEL Closes Tower Deal

5/12/2003 9:37 AM Eastern

CEQUEL III, the St. Louis-based telecommunications-investment firm headed up
by former Charter Communications Inc. CEO Jerry Kent, said it closed on the
purchase of 631 communications towers from SBA Communications Corp. for about
$145 million.

CEQUEL first announced the deal in March, and it purchased the towers through
another of its holdings, AAT Communications Inc.

The towers are located in several Western states, including California,
Michigan, Wisconsin, Iowa, Missouri, part of Illinois, Oklahoma and most of
Texas.

This is the first transaction in a larger deal (for a total of 801 towers,
valued at $203 million) expected to close in stages between May 9 and Sept.
30.

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