FiberTower Announces Engagement of Financial Advisor to Evaluate Strategic Alternatives; Receipt of Nasdaq Delisting Notice

FiberTower Corporation

today announced that it has engaged the Corporate Finance & Restructuring Group of FTI Consulting, Inc., to assist the Company with identifying and evaluating financial and strategic alternatives to maximize value for the Company's stakeholders. The Company also announced that on January 19, 2012, it received a letter from the Listing Qualifications Department of the Nasdaq Stock Market (Nasdaq) notifying FiberTower of its intent to delist the Company's securities from the Nasdaq. The letter provides that, absent an appeal of the staff's determination by the Company, trading in the Company's common stock will be suspended at the opening of business on January 30, 2012, and Nasdaq will file a Form 25-NSE with the Securities and Exchange Commission to remove the Company's securities from listing and registration on Nasdaq.