Besides constructing 133 new sites, the Boca Raton-baseddeveloper acquired 77 sites during the reporting period at a totalof cost of $23.8 million, or about $309,000 each.

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The company estimates it added gross site leasing revenues at anannual rate of .44 new tenants per tower on a broadband equivalentbasis, based on the 3,254 towers the company owned as of Sept. 30.It estimates that same-tower revenue from tenant leases executed on1,950 towers owned as of Sept. 30, 2000, increased by 26%.

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The company also disclosed it owns the rights to acquire 270other towers for about $67.8 million, or about $251,000 each. It isalso working on plans to build another 1,100 towers.

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The company estimates that it will post a $24.4 millionnon-recurring developmental charge in the third quarter. Of thetotal, about $22 million reflects the write-down of new tower buildprojects carried on SBA's balance sheet as of June 30, 2001.

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