Optasite, Inc. Announces New $150 Million Credit Facility

Morgan Stanley Leads Successful Debt Financing

WESTBOROUGH, MASS - November 9, 2006 - Optasite, Inc., a fast-growing developer, owner and operator of telecommunications tower sites, today announced the closing of a new $150 Million credit facility. Morgan Stanley Asset Funding, Inc. was the agent bank for the transaction, which closed on November 1, 2006. Optasite will use this new capital to continue the expansion of its tower portfolio through both the development of new towers and the acquisition of existing towers and tower portfolios. The Company also announced the completion of nine separate tower acquisitions. The transactions range in size from a single site to 28 towers and are strategically located within Optasite's existing geographic footprint in the northeast, eastern seaboard and gulf coast. Along with towers currently under definitive agreement, Optasite now has more than 400 sites in its portfolio. "This is an exciting step in Optasite's financial growth," said M. Beau Paradowski, Chief Financial Officer of Optasite. "Morgan Stanley is extremely well respected in the tower industry and has both the expertise and financial capacity to help Optasite grow well into the future. We appreciate the confidence that they have shown in our team and our portfolio."

About Optasite

Headquartered in Westborough, Massachusetts, Optasite is one of the fastest growing tower companies in the United States. Giving effect to pending transactions, Optasite has over 400 towers in its portfolio and focuses on a strategy of disciplined tower acquisition and development. The Company currently owns towers in 25 states, with a concentration along the eastern seaboard and the gulf coast. Optasite is funded by leading financial investors, including Centennial Ventures, Columbia Capital, Highland Capital Partners, Key Venture Partners and Babson Capital Management. For more information, please visit http://www.optasite.com.