Operator:

Good morning. My name is (Rashida) and I will be your conference facilitator today. At this time, I would like to welcome everyone to the American Tower Employee conference call. All lines have been placed on mute to prevent any background noise.

After the speaker’s remarks, there will be a question and answer period. All lines will be open in order for you to ask a question. If you need any assistance during the call, please press star, then 0 on your—and an operator will come back on line to assist you.

I would now like to turn the call over to Chairman and CEO, Mr. Jim Taiclet. Mr. Taiclet, you may begin your conference.

Jim Taiclet:

Good morning, everybody, and welcome to the call. This is Jim Taiclet in Boston; and I’m joined by Hal Hess, Brad Singer, and Aileen Torrance, all whom have been instrumental in what we’ve been doing over the last few days here.

Today is a great day for American Tower. As you know from the morning’s announcements and press coverage, we’re excited to share with you the news that we’ve reached an agreement with SpectraSite under which they’ll become a subsidiary of American Tower and American Tower will be the surviving company going forward with the assets and much of the talent of SpectraSite a part of us.

We believe this combination is going to create the premier tower company in America and shortly, we’re going to be conveying our message to investors and hopefully we’ll have continued strong reaction from them as well.

This deal brings together two like-minded companies with very similar strategies to create the single provider in the tower industry disposition clearly to lead our industry. We’re both focused on customer satisfaction, operational excellence, people development, and process improvement, and I’ve gotten to learn about these things personally from working with Steve Clark and Tim Biltz and others in putting this altogether; very like-minded approach as we have.

Our combined companies are going to be unparalleled in scale, in coverage and diversity, and in reach; and the key—these are the key factors, which contribute to success in our industry.

Now with the combinations completed, we think about six months down the road and hopefully a little bit sooner, we’ll have increased our tower portfolio by almost 66% and the total tower count in the combined company would be upwards of 22,000 plus towers and 400 broadcast towers will be included in

that number, and also, the 2,300 towers we have in our high-growth International markets in Mexico and Brazil; so a very diverse, very strong company.

What will be helpful in this combination also is that the new company will have about 65% of the towers in the portfolio in the U.S., located in the top-100 wireless markets. And our share of the big five carrier networks will go from about 10% on American Tower’s percent of their network today, doubling up to about 20% with the combined company. So our share of mind, share of wallet with our big customers will double through this transaction.

Our larger, more expensive network platform is going to position us well to provide more comprehensive services, longer and more rich agreements we believe to help us—to help our customers as we support their infrastructure requirements in the future. And specifically, in addition to new tower space, on our existing towers, we’ll have better resources to appoint new towers, to continue to drive our site at zoning, permitting and engineering services, along with our structural analysis group.

And in addition to all of that, SpectraSite brings an excellent in-building systems business to us. They have exclusive positions in many malls and casinos across the United States. They also manage rooftops as we do and they’re embarking on distributing the antenna solutions for outdoor use as well.

So we’re going to be joining with another company that’s looking towards the future and is driving our fast-growing business in the tower sector.

Now with our proven track record and performance, location of our towers, and the national scope of our products, we’re going to be able to better partner with our customers and prove our overall share of business with them, we believe, and that’s our ultimate goal.

If you’ve been watching SpectraSite over the last number of quarters, you’ll see that they’ve also been doing very well operationally and financially, performing to their objectives; and again, in that regard, this is a very good match of two high-performing companies.

We expect to realize a net present value of over $400 million of synergies to make the deal valuable with shareholders. We’ll be able to increase our EBITDA, our profitability, and our free cash flow growth over the near-end mid-term.

Through our size, we’re also going to diversify as well and ultimately we expect that our bigger size and our better credit quality will help us lower our cost to capital over time.

In addition, the greater market cap of the two companies, just to give you a sense, they’re at about $3 billion, we’re at about $4.5 billion, so a total of $7.5 billion in market cap. That will hopefully broaden our investor base and ultimately get us into some index fund coverage as well, we hope.

Now for employees at both companies, we’re going to be entering a period of change; change is always challenging, difficult, it creates uncertainty. For some of our employees and our managers, this transaction is going to mean expanded opportunities for you — maybe more territory, more responsibility, more people. It will expand the career development possibilities for people across the company and, indeed, across the combined company.

However, on both sides of the aisle, there will probably be some job losses as we move forward here in order to deliver on the shareholder value of which we’ve committed. Our goal in achieving the shareholder value creation here is to pull together the very best talent from both companies and the leadership of the management team that you’re familiar with is going to drive that.

And our priority is going to be on a communication basis to let you know where the deal stands, where your location and your organization stands as we know it and on a regular basis.

For those, again, on either side of the aisle, SpectraSite—or legacy American Tower folks will be laying out very clear severance packages and plans for those of us from either company who do not continue with the new combined company. We’ll be getting that information out to folks shortly.

But you’re going to have lots of questions and issues that you’re going to want to raise and we want to hear them. So in the near-term, we encourage you to speak with your manager or submit your questions to the Employee Portal under the Highlight section on the Home Page and you’ll see a segment there entitled, Your Merger Questions, and you can click right through that and submit your questions directly.

In addition, there are going to be communications and meetings throughout the day from your VPs, Directors, etc., to give you a chance to hear a little bit more about what is happening and also to address your questions that they can address at this time.

Over the next couple of weeks, you’ll also see senior management visiting many of our locations and, in fact, some SpectraSite locations too to meet employees and also to, again, address questions directly.

Now we’ve announced this acquisition today and a lot of work has been done to get to this point but it’s just the beginning, there’s going to be a lot more to do before the deal closes and even after to ensure the success of this transaction and the opportunity we got in front of us. This is going to take several months to complete.

because of those things are we here at this point in the company’s history today.

So again, this is a great day for American Tower. It makes it an important day for the wireless industry in general. We’re reaching out to investors and customers and also, you know, getting our message to the press that we think is an important moment and we’re going to be relying on all of you to help us make it a real success.

So again, you’ll be hearing more from your local management and vice presidents throughout the next few days and weeks and we’ll keep you informed through the Employee Portal and our communication vehicles that you’re used to seeing.

So that’s everything for now and again, thank you for all the hard work and we’ll look forward to working together with our new colleagues from SpectraSite to bring this great company together. Thanks, everybody. Have a great day. Bye, now.

Operator:

This   concludes today’s American Tower Employee conference call. You may now disconnect.