FiberTower Announces Results of Special Meeting and Date of Mandatory Redemption of Notes

SAN FRANCISCO, Dec. 15 /PRNewswire-FirstCall/ -- FiberTower Corporation (Nasdaq: FTWR), a wireless services backhaul provider, today announced that at its special meeting of stockholders held this morning, its stockholders approved the issuance of the shares of common stock to be issued upon the mandatory redemption of the Company's 9.00% Mandatorily Redeemable Convertible Senior Secured Notes due 2012 (the "Notes"). With such approval and the Company's previous receipt of the FCC approval required as a condition to the redemption of the Notes, all conditions to the mandatory redemption of the Notes have been satisfied. The Company therefore expects to redeem the Notes on December 22, 2009. As previously disclosed, the Company expects to effect a 1-for-10 reverse stock split prior to redeeming the Notes.

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