Global Signal Inc. Announces Initial Public Offering

Global Signal Inc. Announces Initial Public Offering 


SARASOTA, Fla., June 2  /PRNewswire-FirstCall/ -- Global Signal Inc.
(NYSE:GSL), today announced its initial public offering of 7,000,000 shares of
common stock priced at $18.00 per share.  Global Signal Inc. also granted the
underwriters an option to purchase up to 1,050,000 shares of common stock to
cover over-allotments, if any.

The shares will begin trading on June 3, 2004, on the New York Stock Exchange
under the symbol "GSL."  The offering is expected to close on June 8, 2004.

Morgan Stanley, Banc of America Securities LLC, Lehman Brothers and Raymond
James are acting as representatives for the underwriters of this offering.

A registration statement relating to these securities was declared effective by
the Securities and Exchange Commission.  Copies of the prospectus related to
the offering may be obtained from the prospectus department of Morgan Stanley &
Co. Incorporated, 1585 Broadway, New York, NY 10036 or from the prospectus
department of Banc of America Securities LLC, 9 West 57th Street, 22nd Floor,
New York, NY 10019.

Global Signal Inc. owns and manages wireless communications towers. Global
Signal Inc. is organized and conducts its operations to qualify as a real
estate investment trust (REIT) for federal income tax purposes.

This press release shall not constitute an offer to sell or the solicitation of
an offer to buy, nor shall there be any sale of these securities in any state
or jurisdiction in which such offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of any such
state or jurisdiction. 

DATASOURCE: Global Signal Inc.



CONTACT:  Gail Scalfaro, Director of Investor Relations, Finance of

Global Signal Inc., [phone]

Copyright