SiteExcell Closes Equity Financing Led by M/C Venture Partners

Monday, March 20, 2006, 7:00 am ET

LITTLE ROCK, AR, March 20, 2006/ -- SiteExcell Tower Partners, a leading communications tower company in the mid-South region of the United States, announced the completion of a $15 million private equity investment commitment.  The funding round was led by M/C Venture Partners, an established venture capital firm focused on the communications sector.

SiteExcell owns, develops and leases new build-to-suit wireless communications sites throughout the mid-South region of the United States, often in areas where there were previously few collocation possibilities available.  Led by CEO Todd Lewellen, SiteExcell is headquartered in Little Rock, Arkansas and will be active throughout the mid-South region of the United States.  The financing will allow SiteExcell to help wireless carriers expand and improve coverage for their customers.  SiteExcell plans to use the new financing to fund site acquisition, site development, and tower construction and maintenance for carriers.  In addition, SiteExcell Tower Partners will evaluate opportunities to acquire towers.

"SiteExcell has a long history of providing carriers with the best and most dependable site acquisition and development services available in the most timely manner possible," said Todd Lewellen, CEO of SiteExcell Tower Partners. "The financing provided by M/C Venture Partners allows us to offer carriers a turnkey build-to-suit solution throughout the region while providing the capital to evaluate potential tower acquisitions."

"Rapid growth in demand for wireless services, through increasing subscriber counts and escalating minutes of use per subscriber, is leading wireless carriers to expand coverage and improve quality of service for their customers by broadening and strengthening the tower infrastructure," said Peter Claudy, General Partner of M/C Venture Partners. "SiteExcell is helping carriers achieve their goals by managing the entire tower development process while providing the capital resources needed to quickly expand the tower infrastructure.  We are delighted to be involved with the strong team at SiteExcell Tower Partners, who have the experience, build-to-suit expertise, and dedication required to offer the best possible service to their clients."

About SiteExcell Tower Partners, LLC

Based in Little Rock, AR, SiteExcell is a leading communications tower company focused on tower development, leasing, and management.  Founded in 1998 by industry veteran Todd Lewellen, SiteExcell has offered due diligence and site acquisition services for seven carriers in eleven states.  SiteExcell develops towers in build-to-suit relationships and is actively pursuing an aggressive build-to-suit tower development plan for wireless service providers throughout the mid-South region of the United States.

About M/C Venture Partners

M/C Venture Partners is a venture capital firm focused exclusively on the communications, media, and information technology sectors.  The firm has invested in leading companies across these segments for over 20 years and manages over $1 billion in assets.  Companies the firm has backed include Metro PCS, TeleCorp PCS, Triad Cellular, Crowley Cellular, and Brooks Fiber.  Currently investing M/C Venture Partners V, a $550 million venture capital fund, the firm has strong institutional backing from the nation's leading pension funds and endowments as well as a long track record of success.  M/C Venture Partners has offices in Boston, San Francisco and London.  For more information, visit: www.mcventurepartners.com.