PT Access Networks Sells 18 Wireless Communications Towers to Global Tower Partners for $14.2 Million

ST. PETERSBURG, Fla., Feb. 28, 2007 – PT Access Networks announced today that it has sold 18 wireless communications towers to Global Tower Partners, an industry-leading tower operator. The purchase price was $14.2 million in cash plus undisclosed contingent payments tied to near-term objectives.

The 18 towers include long-term ground leases in all 18 locations and 59 leases with wireless carriers, averaging 3.3 carrier tenants per tower.

The sale of these “mature” cell towers allows PT Access Networks to focus on the high growth portions of its business, including the development of new cell towers and continuing to expand its “attachment” business—leasing space for wireless attachments on electric utility transmission towers. PT Access Networks’ portfolio includes approximately 400 attachments on utility-owned structures.

PT Access Networks is jointly owned by Odyssey Telecorp and Progress Energy.