Global Signal Inc. to Acquire 235 Wireless Communications Towers

Global Signal Inc. to Acquire 235 Wireless Communications Towers



SARASOTA, Fla., July 29  /PRNewswire-FirstCall/ -- Global Signal Inc.
(NYSE:GSL) announced today that it has signed a definitive asset purchase
agreement with Lattice Communications, LLC to acquire 235 wireless
communications towers for an aggregate purchase price of $115.0 million.  The
tenants on these towers include the big six wireless carriers, as well as
subsidiaries of Cinergy Corp.  Cinergy has multi-year leases on many of these
sites and utilizes these towers for their private communications and microwave
network.  The towers to be acquired are located primarily in Indiana, Ohio,
Alabama, Kansas and Georgia.  The acquisition is expected to close in the
fourth quarter of 2004 and is subject to customary closing conditions.

David Grain, President of Global Signal, commented, "Adding the Lattice assets
to our portfolio is consistent with our goal to increase the revenue we derive
from telephony and investment grade tenants."

Global Signal owns or manages over 3,300 wireless communications towers and
other communications sites. Global Signal is organized and conducts its
operations to qualify as a real estate investment trust (REIT) for federal
income tax purposes.

Certain items in this press release may constitute forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of 1995
including, but not necessarily limited to, statements relating to our ability
to deploy capital, close acquisitions and increase revenues. Words such as
"anticipate(s)," "expect(s)," "intend(s)," "plan(s)," "target(s),"
"project(s)," "believe(s)," "seek(s)," "estimate(s)" and similar expressions
are intended to identify such forward-looking statements. These statements are
based on management's current expectations and beliefs and are subject to a
number of factors that could lead to actual results materially different from
those described in the forward-looking statements; Global Signal can give no
assurance that its expectations will be attained.  Factors that could cause
actual results to differ materially from Global Signal's expectations include,
but are not limited to, our continued ability to acquire new towers at
attractive prices which will generate returns consistent with expectations; the
possibility that the towers that we have acquired and will acquire may not
generate sufficient additional income to justify their acquisition; and other
risks detailed from time to time in Global Signal's SEC reports including its
Form S-11 filed June 2, 2004.  Such forward-looking statements speak only as of
the date of this press release.  Global Signal expressly disclaims any
obligation to release publicly any updates or revisions to any forward-looking
statements contained herein to reflect any change in the Company's expectations
with regard thereto or change in events, conditions or circumstances on which
any statement is based.

   Contact:
   Gail Scalfaro
   Director of Investor Relations
   941-308-5227


DATASOURCE: Global Signal Inc.



CONTACT:  Gail Scalfaro, Director of Investor Relations, Global Signal

Inc., [phone]



Web site:  http://www.gsignal.com/ 

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