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Business Description
American Tower Corporation is a wireless and broadcast communications infrastructure company with a portfolio of approximately 15,000 towers, as of December 31, 2003. Its primary business is leasing antenna space on multi-tenant communications towers to wireless service providers and radio and television broadcast companies. The Company's broad network of towers enables it to address the needs of wireless service providers on a national basis. It also offers select tower related services, such as antennae and line installation and site acquisition and zoning services, which are strategic to its core leasing business. The Company operates in two business segments, rental and management and network development services.

Financial Information
For the nine months ended 9/30/04, revenues rose 10% to $578.3M. Net loss from continuing operations fell 19% to $159.7 million. Revenues reflect an increase in leasing activity of old and new towers. Lower loss reflects improved operating margins, lower loss on investments and decreased other expenses.