Wireless Tower Industry: Strong Growth Opportunities

1. Wireless Towers: An Overview

• 1.1 Guyed Tower
• 1.2 Monopole Tower
• 1.3 Lattice Tower

2. Tower Companies - Business Model

3. Market Overview

• 3.1 Competitive Landscape
  • 3.1.1 US Market Share
• 3.2 Consolidation Phase
• 3.3 Operating Metrics
  • 3.3.1 Portfolio Comparison
  • 3.3.2 Revenue per Tower: A Comparison

4. Growth Drivers

• 4.1 Wireless Subscription Growth
• 4.2 Wireless Capital Spending

5. Issues

• 5.1 High Barriers to Entry
• 5.2 Dependence on Few Large Customers
• 5.3 Interest Rates & Inflation
• 5.4 Mesh Wi-Fi Networks
• 5.5 Spectrum Availability

6. Company Profiles

• 6.1 American Tower
  • 6.1.1 Overview
  • 6.1.2 Business Strategies
  • 6.1.3 International Growth and Expansion
  • 6.1.4 High Operating Leverage
  • 6.1.5 Efficient Use of Existing Site Capacity
• 6.2 Crown Castle
  • 6.2.1 Overview
  • 6.2.2 Business Strategies
  • 6.2.3 Organically Grow Revenues & Cash Flows
  • 6.2.4 Sales and Marketing Strategy
  • 6.2.5 Allocate Capital Efficiently
• 6.3 SBA Communications
  • 6.3.1 Overview
  • 6.3.2 Business Strategies
  • 6.3.3 Acquisition Strategy
  • 6.3.4 Disciplined Growth of Tower Portfolio
  • 6.3.5 Maximizing Use of Tower Capacity

• Types of Wireless Towers
• Revenue Model of a Tower
• Crown Castle - Tower Acquisitions (1999-2007)
• Crown Castle - Tower Occupancy Breakdown
• SBA Communications Tower Acquisitions (2004-07)

• US Tower Market Share by Companies (2007)
• Tower Portfolio Comparison (2007-12E)
• Revenue per Tower Comparison (2007)
• Percentage of Tower in BTA' s - A Comparison (2007)
• US Wireless Subscribers (2000-2010E)
• Wireless Capital Spending Comparison (2002-2010E)
• American Tower - Tower Revenue Mix by Segments (2007)
• American Tower - Tower Revenue Mix by Customers (2007)
• Crown Castle - Revenues by Customer (2007)
• SBA Communications - Tenant Revenues by Customer (2007)