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Mirus advises Transcept, Inc. on sale to Crown Castle Trans OC

Manchester, NH – The Mirus Special Situations Group announced today that the Company has advised Transcept, Inc., a debtor in possession in the U.S. Bankruptcy Court, NH District, on the sale of the Company’s assets to Crown Castle Trans OC Corp., a wholly-owned subsidiary of Crown Castle International. Based in Manchester NH, Transcept, Inc. is a privately-held developer of technology for mobile wireless with 47 employees. The Company’s OpenCell technology was developed as a joint venture with Crown Castle, based on original technology developed by Lockheed Martin. An $11 million note to Lockheed becomes due in late 2002, which, in part, precipitated the decision by Transcept to declare bankruptcy.

The Mirus Special Situations Group was retained as the investment banker for Transcept. Mirus was successful in generating interest in the Company and after receiving several offers, including a highly competitive offer from American Power Conversion. However, after much negotiating, the Company accepted an offer from Crown Castle Trans OC Corp.

About Transcept, Inc.: Based in Manchester NH, Transcept, Inc. is a privately held designer and manufacturer of innovative communications equipment for commercial wireless networks. Since December 2000, Transcept has been developing the “OpenCell” technology through a joint venture with Crown Castle Trans OC. OpenCell’s innovative broadband transceiver and spread spectrum technologies are designed to provide wireless telephony and data network operators with substantial cost savings, deployment advantages, and performance benefits that significantly enhance the quality, reliability, and availability of their communications services.

About Crown Castle International Corp.: Crown Castle International Corp. engineers, deploys, owns and operates technologically advanced shared wireless infrastructure, including extensive networks of towers and rooftops as well as analog and digital audio and television broadcast transmission systems. Crown Castle owns, operates and manages over 15,000 wireless communication towers internationally. For more information on Crown Castle, visit: www.crowncastle.com.

About the Mirus Special Situations Group

Mirus provides investment banking solutions to corporate clients in distress, including divestitures, restructurings, and bankruptcy sales. Since 1987, Mirus has provided corporate finance advisory services to clients in technology, business services, manufacturing, consumer products, health care and the resort & hospitality industry. For additional information, visit www.merger.com.

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