Subject: [NEXTEL-1] SpectraSite Announces Delisting by Nasdaq

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Date: Fri, 22 Nov 2002 15:59:21 -0500

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SpectraSite Announces Delisting by Nasdaq

CARY, N.C., Nov 21, 2002 (BUSINESS WIRE) -- SpectraSite Holdings, Inc. (NASDAQ: SITEQ), one of the largest wireless tower operators in the United States, announced today that it has received a Nasdaq Staff Determination indicating that the Company's filing of a voluntary petition for relief under chapter 11 of the U.S. Bankruptcy Code and the Company's failure to meet other requirements for continued listing have resulted in the Company being subject to delisting from the Nasdaq Small Cap Market.

Source:

Business Wire

Date:

11/21/2002 23:14

Price:

Free

Document Size:

Very Short (less than 1 page)

Document ID:

FA20021122050000025

Subject(s):

Annual Report; Bankruptcy; Communications; Market; Nasdaq; North Carolina; Restructuring; SEC; Securities; Small Cap; Television; Wireless

Document Type:

Press releases

SpectraSite Announces Delisting by Nasdaq

Story Filed: Thursday, November 21, 2002 11:14 PM EST

CARY, N.C., Nov 21, 2002 (BUSINESS WIRE) -- SpectraSite Holdings, Inc. (NASDAQ:
SITEQ), one of the largest wireless tower operators in the United States,
announced today that it has received a Nasdaq Staff Determination indicating
that the Company's filing of a voluntary petition for relief under chapter 11 of
the U.S. Bankruptcy Code and the Company's failure to meet other requirements
for continued listing have resulted in the Company being subject to delisting
from the Nasdaq Small Cap Market.

Nasdaq has notified the Company that its common stock will be delisted from the
Nasdaq Small Cap Market as of the opening of trading on November 26, 2002.

The Company has determined not to appeal the delisting. There can be no
assurance that the Company's common stock will continue to be actively traded or
that liquidity for the Company's common stock will not be adversely affected.

About SpectraSite Communications, Inc.

SpectraSite Communications, Inc. (
www.spectrasite.com), based in Cary, North
Carolina, is one of the largest wireless tower operators in the United States.
At September 30, 2002, SpectraSite owned or managed approximately 20,000 sites,
including 7,999 towers primarily in the top 100 markets in the United States.
SpectraSite's customers are leading wireless communications providers and
broadcasters, including AT&T Wireless, ABC Television, Cingular, Nextel, Paxson
Communications, Sprint PCS, Verizon Wireless and Voicestream.

Safe Harbor

This press release and oral statements made from time to time by representatives
of the Company may contain "forward-looking statements" concerning SpectraSite's
future expectations, financial and operating projections, plans, strategies and
the trading markets for its securities. These forward-looking statements are
subject to a number of risks and uncertainties. The Company wishes to caution
readers that certain factors may impact the Company's actual results and could
cause results for subsequent periods to differ materially from those expressed
in any forward-looking statements made by or on behalf of the Company. Such
factors include, but are not limited to (i) SpectraSite's ability to complete
the proposed restructuring plan, (ii) the interest of market makers and others
in maintaining an active market for SpecatraSite's securites, (iii)
SpectraSite's substantial capital requirements and leverage, even after the
proposed restructuring is completed, (iv) market conditions, (v) the Company's
dependence on demand for wireless communications and related infrastructure,
(vi) competition in the communications tower industry, including the impact of
technological developments and (vii) future regulatory actions and conditions in
its operating areas. These and other important factors are described in more
detail in Item 1a "Risk Factors" of the Company's Annual Report on Form 10-K for
the year ended December 31, 2001 and in the Company's other SEC filings and
public announcements. The Company undertakes no obligation to update
forward-looking statements to reflect subsequently occurring events or
circumstances.

CONTACT: SpectraSite Communications, Inc., Cary
Dave Tomick, 919/465-6802
or
Steven Lilly, 919/465-6803
[email-masked]

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KEYWORD: NORTH CAROLINA

INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS

TELECOMMUNICATIONS

SOURCE:

SpectraSite

Communications,

Inc.

Copyright © 2002, Business Wire, all rights reserved.

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