American Tower Corporation

6/4/2002


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Table of Contents

American Tower Corporation

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Substantial Recurring Revenue & Cash Flow Base

Diverse and Attractive Tower Portfolio

Tower Basics

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Stable, Predictable Cash Flows

Strong Operating Leverage

Voice Only Growth Scenario

Continuing Solid Growth From Voice

Strong Historical Site Demand

Wireless Growth Fundamentals Remain Strong

Subscriber Growth Means Site Growth

Usage Growth Reduces, Offsets, or Even Overpowers Technology Gains

Growth In Cell Site Demand Outstrips Growth In Tower Supply

Voice Only Exceeds 3 BBE Per Tower

We Expect More

Data

Migration To High-Speed Data

Migration To High-Speed Data

Applications

Data Requirements

Data Requirements

Voice Only Exceeds 3 BBE Per Tower

American Tower Today

Our Operational Advantage

Our Financial Advantage

Actual Wireless Tower Classes

Going Forward

Development Strategy

Development Strategy

2005 Cash Flow Scenario

Financial Summary

Financial Goals

History of Strong Revenue & EBITDA Growth

2002 Outlook by Segment

Demonstrated Organic Tower Growth

Improving Tower Operating Leverage

Leverage Outlook

Leverage Reduction

Liquidity Position

Liquidity – Debt Amortization Schedule

Why American Tower?

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American Tower Corporation

Author: Corporate User