W. CONSHOHOCKEN, PA – June 20, 2007 - Pegasus Tower Company, Ltd., a developer of wireless communications towers, has successfully completed a mezzanine debt raise with an investment fund. Fairmount Partners advised Pegasus in the transaction, the details of which were not disclosed.

Pegasus Tower is a privately-held tower company focused on the development, operation, management, and ownership of wireless communication towers. Pegasus, founded in 1999, is located in Richlands, Virginia. Jeff Mitchell of LeClair Ryan’s Blacksburg, Virginia office, represented Pegasus as legal counsel. Fairmount Partners is an independent investment banking firm focused on the needs of middle market and emerging growth companies. Fairmount Partners provides a complete range of investment banking services, including merger & acquisition, capital formation, and strategic advisory. Fairmount Partners concentrates in several industry sectors of demonstrated success, including communications and media, healthcare, technology, and business services.