August 1, 2007
FiberTower Announces Backhaul Agreement with
Sprint Nextel for WiMax Buildout
San Francisco, CA., August 1, 2007
-- FiberTower Corporation (NASDAQ: FTWR), a wireless backhaul
services provider, today announced that it had entered into an
agreement with Sprint Nextel (NYSE: S) to provide backhaul services
in seven of the wireless carrier’s initial WiMax launch
markets. FiberTower is unable to disclose terms of the agreement
as it is subject to confidentiality agreements. However, the Company
can disclose that Sprint Nextel’s deployment is based on
providing Ethernet-based backhaul, a first for any mobile backhaul
provider.
Earlier in the year, Sprint announced its intention
to launch its Mobile WiMax broadband services in initial markets
by year-end 2007. This initial deployment will be followed by
a larger roll-out approaching 100 million people by year-end 2008.
FiberTower’s unique hybrid network architecture,
consisting of microwave and fiber technologies, provides backhaul
transport that is highly reliable, cost-effective and scalable
as Sprint Nextel continues its deployment of next-generation wireless
services.
“We are extremely pleased and excited to have
been selected by Sprint Nextel to be the first backhaul provider
to deploy commercial Ethernet services,” said Michael Gallagher,
FiberTower’s President and CEO. “We place significant
value in our relationship with Sprint Nextel and believe that
this historic agreement represents the first step in the carrier’s
commitment to deploying cutting-edge broadband applications with
broad appeal to consumers and the enterprise.”
“Sprint Nextel continues to build-out the
largest and most technologically advanced mobile broadband network
in the U.S.,” said Barry West, CTO and President of Sprint
Nextel’s 4G Mobile Broadband division. “We aim to
maintain our position as the leader in broadband mobility and
believe that our relationship with FiberTower will support that
goal. FiberTower’s superior service quality, flexibility
and scalability are a perfect fit for our next-generation network
plans and we look forward to dramatically expanding this relationship
going forward.”
About FiberTower Corporation
FiberTower is a backhaul and access services provider focused
primarily on the wireless carrier market. With its extensive spectrum
footprint in 24 GHz and 39 GHz bands, carrier-class microwave
and fiber networks in 12 major markets, customer commitments from
six of the leading cellular carriers, and partnerships with the
largest tower operators in the U.S, FiberTower is considered to
be the leading alternative carrier for wireless backhaul. FiberTower
also provides backhaul and access service to government and enterprise
markets. For more information, please visit our website at http://www.fibertower.com.
Forward Looking Statements
Statements included in this news release which are not historical
in nature are “forward-looking statements” within
the meaning of Section 21E of the U.S. Securities Exchange Act
of 1934 and the U.S. Private Securities Litigation Reform Act
of 1995. Forward looking statements relate to expectations, beliefs,
projections, future plans and strategies, anticipated events or
trends and similar expressions concerning matters that are not
historical facts. There are many risks, uncertainties and other
factors that can prevent the achievement of goals or cause results
to differ materially from those expressed or implied by these
forward-looking statements including, without limitation, interest
rates, market prices for our securities, investors’ assessment
of our prospects, and those risk factors described in the Company’s
filings with the Securities and Exchange Commission, including
its most recent Annual Report on Form 10-K and Quarterly Reports
on Form 10-Q.
Company Contact:
Ornella Napolitano, VP and Treasurer
FiberTower Corporation
(202) 251-5210
onapolitano@fibertower.com
Investor Contact:
Gus Okwu / DRG&E
404-532-0086
gokwu@drg-e.com
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