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filed with the Securities and Exchange Commission on June 4, 2004</p>
<p style="font-family:serif;font-weight:bold;color:#000000;font-size:10pt;  width: 528pt; text-align: right; font-style: normal; line-height: 12pt; padding-top: 12pt; padding-left:0pt; padding-right:0pt; margin: 0pt; text-indent: 0pt; padding-bottom: 6pt; background-color: #ffffff;">Registration No.
333-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p>
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<p style="font-family:serif;font-weight:bold;color:#000000;font-size:12pt;  width: 528pt; text-align: center; font-style: normal; line-height: 14pt; padding-top: 12pt; padding-left:0pt; padding-right:0pt; margin: 0pt; text-indent: 0pt; padding-bottom: 0pt; background-color: #ffffff;">UNITED
STATES<br> SECURITIES AND EXCHANGE COMMISSION</p>
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<p style="font-family:serif;font-weight:bold;color:#000000;font-size:12pt;  width: 528pt; text-align: center; font-style: normal; line-height: 14pt; padding-top: 12pt; padding-left:0pt; padding-right:0pt; margin: 0pt; text-indent: 0pt; padding-bottom: 0pt; background-color: #ffffff;">FORM S-8</p>
<p style="font-family:serif;font-weight:bold;color:#000000;font-size:10pt;  width: 528pt; text-align: center; font-style: normal; line-height: 12pt; padding-top: 6pt; padding-left:0pt; padding-right:0pt; margin: 0pt; text-indent: 0pt; padding-bottom: 6pt; background-color: #ffffff;">REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF
1933</p>
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<p style="font-family:serif;font-weight:bold;color:#000000;font-size:14pt;  width: 528pt; text-align: center; font-style: normal; line-height: 16pt; padding-top: 12pt; padding-left:0pt; padding-right:0pt; margin: 0pt; text-indent: 0pt; padding-bottom: 0pt; background-color: #ffffff;">Global Signal Inc.</p>
<p style="font-family:serif;font-weight:bold;color:#000000;font-size:10pt;  width: 528pt; text-align: center; font-style: normal; line-height: 12pt; padding-top: 6pt; padding-left:0pt; padding-right:0pt; margin: 0pt; text-indent: 0pt; padding-bottom: 6pt; background-color: #ffffff;">(Exact name of registrant as specified in its
charter)</p>
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<td style="font-family: serif; font-size: 9pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 3px double #ffffff;padding-left: 0pt; text-indent: 0pt;padding-top: 0pt" align="center" valign="top" colspan="3"><b>Delaware</b>
<br>
(State or other jurisdiction of<br> incorporation or
organization)</td>
<td style="padding-top: 0pt "><img src="spacer.gif" height="1" width="2"></td>
<td style="font-family: serif; font-size: 9pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 3px double #ffffff;padding-left: 0pt; text-indent: 0pt;padding-top: 0pt" align="center" valign="top" colspan="3"><b>65-0652634</b>
<br>(I.R.S.
Employer<br> Identification
No.)</td>
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<p style="font-family:serif;font-weight:bold;color:#000000;font-size:9pt;  width: 528pt; text-align: center; font-style: normal; line-height: 10pt; padding-top: 12pt; padding-left:0pt; padding-right:0pt; margin: 0pt; text-indent: 0pt; padding-bottom: 0pt; background-color: #ffffff;">Suite
300<br> 301 North Cattlemen Road<br> Sarasota, Florida 34232<br>
(Address of principal executive offices)</p>
<p style="font-family:serif;font-weight:bold;color:#000000;font-size:9pt;  width: 528pt; text-align: center; font-style: normal; line-height: 10pt; padding-top: 12pt; padding-left:0pt; padding-right:0pt; margin: 0pt; text-indent: 0pt; padding-bottom: 6pt; background-color: #ffffff;">GLOBAL
SIGNAL INC. OMNIBUS STOCK INCENTIVE PLAN<br> (Full title of the
plan)</p>
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<td bgcolor="#000000"><img src="spacer.gif" height="1"><img src="spacer.gif" height="1" width="127"></td>
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<td><img src="spacer.gif" height="1" width="570"></td>
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<p style="font-family:serif;font-weight:bold;color:#000000;font-size:9pt;  width: 528pt; text-align: center; font-style: normal; line-height: 10pt; padding-top: 12pt; padding-left:0pt; padding-right:0pt; margin: 0pt; text-indent: 0pt; padding-bottom: 6pt; background-color: #ffffff;">Stephen W.
Crawford, Esq.<br> Executive Vice President, General Counsel and
Secretary<br> Global Signal Inc.<br> Suite 300<br> 301 North
Cattlemen Road<br> Sarasota, Florida 34232<br> (941) 364-8886<br>
(Name and address, including zip code, and telephone number, including
area code, of agent for service)</p>
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<td bgcolor="#000000"><img src="spacer.gif" height="1"><img src="spacer.gif" height="1" width="127"></td>
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<p style="font-family:serif;font-weight:bold;color:#000000;font-size:10pt;  width: 528pt; text-align: center; font-style: normal; line-height: 12pt; padding-top: 12pt; padding-left:0pt; padding-right:0pt; margin: 0pt; text-indent: 0pt; padding-bottom: 6pt; background-color: #ffffff;">CALCULATION OF REGISTRATION
FEE</p>
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<td><img src="spacer.gif" height="1" width="1"></td>
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<td><img src="spacer.gif" height="1" width="1"></td>
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<td><img src="spacer.gif" height="1" width="1"></td>
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<td style="font-family: serif; font-size: 8pt; color: #000000; font-weight: bold; font-style: normal; border-bottom: 1px solid #000000 ;padding-top: 0pt" align="center" valign="bottom" colspan="3">&nbsp;&nbsp;&nbsp;</td>
<td style="border-bottom: 1px solid #000000"><img src="spacer.gif" height="1" width="2"></td>
<td style="font-family: serif; font-size: 8pt; color: #000000; font-weight: bold; font-style: normal; border-bottom: 1px solid #000000 ;padding-top: 0pt" align="center" valign="bottom" colspan="3">&nbsp;&nbsp;&nbsp;</td>
<td style="border-bottom: 1px solid #000000"><img src="spacer.gif" height="1" width="2"></td>
<td style="font-family: serif; font-size: 8pt; color: #000000; font-weight: bold; font-style: normal; border-bottom: 1px solid #000000 ;padding-top: 0pt" align="center" valign="bottom" colspan="3">&nbsp;&nbsp;&nbsp;</td>
<td style="border-bottom: 1px solid #000000"><img src="spacer.gif" height="1" width="2"></td>
<td style="font-family: serif; font-size: 8pt; color: #000000; font-weight: bold; font-style: normal; border-bottom: 1px solid #000000 ;padding-top: 0pt" align="center" valign="bottom" colspan="3">&nbsp;&nbsp;&nbsp;</td>
<td style="border-bottom: 1px solid #000000"><img src="spacer.gif" height="1" width="2"></td>
<td style="font-family: serif; font-size: 8pt; color: #000000; font-weight: bold; font-style: normal; border-bottom: 1px solid #000000 ;padding-top: 0pt" align="center" valign="bottom" colspan="3">&nbsp;&nbsp;&nbsp;</td>
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<td style="font-family: serif; font-size: 8pt; color: #000000; font-weight: bold; font-style: normal; border-bottom: 1px solid #000000 ;padding-top: 0pt" align="center" valign="bottom" colspan="3">Title
of each class of<br>securities to be registered</td>
<td style="border-bottom: 1px solid #000000"><img src="spacer.gif" height="1" width="2"></td>
<td style="font-family: serif; font-size: 8pt; color: #000000; font-weight: bold; font-style: normal; border-bottom: 1px solid #000000 ;padding-top: 0pt" align="left" valign="bottom" colspan="3">Amount to
be<br>registered<sup>(1)</sup></td>
<td style="border-bottom: 1px solid #000000"><img src="spacer.gif" height="1" width="2"></td>
<td style="font-family: serif; font-size: 8pt; color: #000000; font-weight: bold; font-style: normal; border-bottom: 1px solid #000000 ;padding-top: 0pt" align="center" valign="bottom" colspan="3">Proposed maximum<br>offering
price<br>per share</td>
<td style="border-bottom: 1px solid #000000"><img src="spacer.gif" height="1" width="2"></td>
<td style="font-family: serif; font-size: 8pt; color: #000000; font-weight: bold; font-style: normal; border-bottom: 1px solid #000000 ;padding-top: 0pt" align="center" valign="bottom" colspan="3">Proposed maximum<br>aggregate<br>offering
price</td>
<td style="border-bottom: 1px solid #000000"><img src="spacer.gif" height="1" width="2"></td>
<td style="font-family: serif; font-size: 8pt; color: #000000; font-weight: bold; font-style: normal; border-bottom: 1px solid #000000 ;padding-top: 0pt" align="center" valign="bottom" colspan="3">Amount
of<br>registration<br>fee</td>
</tr>
<tr>
<td style="font-family: serif; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 1px solid #000000 ;padding-left: 10pt; text-indent: -10pt;padding-top: 0pt" align="left" valign="bottom" colspan="3">Common
stock, par value $0.01 per
share(2)</td>
<td style="border-bottom: 1px solid #000000"><img src="spacer.gif" height="1" width="2"></td>
<td style="font-family: serif; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 1px solid #000000 ;padding-top: 0pt" align="right" valign="bottom" colspan="1">&nbsp;</td>
<td style="font-family: serif; font-size: 8pt; color: #000000; font-weight: normal;  font-style: normal;  border-bottom: 1px solid #000000 ; padding-left: 0pt; text-indent: 0pt;  padding-top: 0pt" align="right" valign="bottom" colspan="1" nowrap="nowrap"><font style="background-color: #ffffff;">3,593,200</font></td>
<td style="font-family: serif; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;     border-bottom: 1px solid #000000; padding-top: 0pt " align="left" valign="bottom" nowrap="nowrap">&nbsp;</td>
<td style="border-bottom: 1px solid #000000"><img src="spacer.gif" height="1" width="2"></td>
<td style="font-family: serif; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 1px solid #000000 ;padding-top: 0pt" align="right" valign="bottom" colspan="1">$</td>
<td style="font-family: serif; font-size: 8pt; color: #000000; font-weight: normal;  font-style: normal;  border-bottom: 1px solid #000000 ; padding-left: 0pt; text-indent: 0pt;  padding-top: 0pt" align="right" valign="bottom" colspan="1" nowrap="nowrap"><font style="background-color: #ffffff;">6.52</font></td>
<td style="font-family: serif; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;     border-bottom: 1px solid #000000; padding-top: 0pt " align="left" valign="bottom" nowrap="nowrap">(5)&nbsp;</td>
<td style="border-bottom: 1px solid #000000"><img src="spacer.gif" height="1" width="2"></td>
<td style="font-family: serif; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 1px solid #000000 ;padding-top: 0pt" align="right" valign="bottom" colspan="1">$</td>
<td style="font-family: serif; font-size: 8pt; color: #000000; font-weight: normal;  font-style: normal;  border-bottom: 1px solid #000000 ; padding-left: 0pt; text-indent: 0pt;  padding-top: 0pt" align="right" valign="bottom" colspan="1" nowrap="nowrap"><font style="background-color: #ffffff;">23,427,664</font></td>
<td style="font-family: serif; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;     border-bottom: 1px solid #000000; padding-top: 0pt " align="left" valign="bottom" nowrap="nowrap">&nbsp;</td>
<td style="border-bottom: 1px solid #000000"><img src="spacer.gif" height="1" width="2"></td>
<td style="font-family: serif; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 1px solid #000000 ;padding-top: 0pt" align="right" valign="bottom" colspan="1">$</td>
<td style="font-family: serif; font-size: 8pt; color: #000000; font-weight: normal;  font-style: normal;  border-bottom: 1px solid #000000 ; padding-left: 0pt; text-indent: 0pt;  padding-top: 0pt" align="right" valign="bottom" colspan="1" nowrap="nowrap"><font style="background-color: #ffffff;">2,968.29</font></td>
<td style="font-family: serif; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;     border-bottom: 1px solid #000000; padding-top: 0pt " align="left" valign="bottom" nowrap="nowrap">&nbsp;</td>
</tr>
<tr>
<td style="font-family: serif; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 1px solid #000000 ;padding-left: 10pt; text-indent: -10pt;padding-top: 0pt" align="left" valign="bottom" colspan="3">Common
stock, par value $0.01 per
share(3)</td>
<td style="border-bottom: 1px solid #000000"><img src="spacer.gif" height="1" width="2"></td>
<td style="font-family: serif; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 1px solid #000000 ;padding-top: 0pt" align="right" valign="bottom" colspan="1">&nbsp;</td>
<td style="font-family: serif; font-size: 8pt; color: #000000; font-weight: normal;  font-style: normal;  border-bottom: 1px solid #000000 ; padding-left: 0pt; text-indent: 0pt;  padding-top: 0pt" align="right" valign="bottom" colspan="1" nowrap="nowrap"><font style="background-color: #ffffff;">615,000</font></td>
<td style="font-family: serif; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;     border-bottom: 1px solid #000000; padding-top: 0pt " align="left" valign="bottom" nowrap="nowrap">&nbsp;</td>
<td style="border-bottom: 1px solid #000000"><img src="spacer.gif" height="1" width="2"></td>
<td style="font-family: serif; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 1px solid #000000 ;padding-top: 0pt" align="right" valign="bottom" colspan="1">$</td>
<td style="font-family: serif; font-size: 8pt; color: #000000; font-weight: normal;  font-style: normal;  border-bottom: 1px solid #000000 ; padding-left: 0pt; text-indent: 0pt;  padding-top: 0pt" align="right" valign="bottom" colspan="1" nowrap="nowrap"><font style="background-color: #ffffff;">18.00</font></td>
<td style="font-family: serif; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;     border-bottom: 1px solid #000000; padding-top: 0pt " align="left" valign="bottom" nowrap="nowrap">(6)&nbsp;</td>
<td style="border-bottom: 1px solid #000000"><img src="spacer.gif" height="1" width="2"></td>
<td style="font-family: serif; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 1px solid #000000 ;padding-top: 0pt" align="right" valign="bottom" colspan="1">$</td>
<td style="font-family: serif; font-size: 8pt; color: #000000; font-weight: normal;  font-style: normal;  border-bottom: 1px solid #000000 ; padding-left: 0pt; text-indent: 0pt;  padding-top: 0pt" align="right" valign="bottom" colspan="1" nowrap="nowrap"><font style="background-color: #ffffff;">11,070,000</font></td>
<td style="font-family: serif; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;     border-bottom: 1px solid #000000; padding-top: 0pt " align="left" valign="bottom" nowrap="nowrap">&nbsp;</td>
<td style="border-bottom: 1px solid #000000"><img src="spacer.gif" height="1" width="2"></td>
<td style="font-family: serif; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 1px solid #000000 ;padding-top: 0pt" align="right" valign="bottom" colspan="1">$</td>
<td style="font-family: serif; font-size: 8pt; color: #000000; font-weight: normal;  font-style: normal;  border-bottom: 1px solid #000000 ; padding-left: 0pt; text-indent: 0pt;  padding-top: 0pt" align="right" valign="bottom" colspan="1" nowrap="nowrap"><font style="background-color: #ffffff;">1,402.57</font></td>
<td style="font-family: serif; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;     border-bottom: 1px solid #000000; padding-top: 0pt " align="left" valign="bottom" nowrap="nowrap">&nbsp;</td>
</tr>
<tr>
<td style="font-family: serif; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 1px solid #000000 ;padding-left: 10pt; text-indent: -10pt;padding-top: 0pt" align="left" valign="bottom" colspan="3">Common
stock, par value $0.01 per
share(4)</td>
<td style="border-bottom: 1px solid #000000"><img src="spacer.gif" height="1" width="2"></td>
<td style="font-family: serif; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 1px solid #000000 ;padding-top: 0pt" align="right" valign="bottom" colspan="1">&nbsp;</td>
<td style="font-family: serif; font-size: 8pt; color: #000000; font-weight: normal;  font-style: normal;  border-bottom: 1px solid #000000 ; padding-left: 0pt; text-indent: 0pt;  padding-top: 0pt" align="right" valign="bottom" colspan="1" nowrap="nowrap"><font style="background-color: #ffffff;">2,268,711</font></td>
<td style="font-family: serif; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;     border-bottom: 1px solid #000000; padding-top: 0pt " align="left" valign="bottom" nowrap="nowrap">&nbsp;</td>
<td style="border-bottom: 1px solid #000000"><img src="spacer.gif" height="1" width="2"></td>
<td style="font-family: serif; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 1px solid #000000 ;padding-top: 0pt" align="right" valign="bottom" colspan="1">$</td>
<td style="font-family: serif; font-size: 8pt; color: #000000; font-weight: normal;  font-style: normal;  border-bottom: 1px solid #000000 ; padding-left: 0pt; text-indent: 0pt;  padding-top: 0pt" align="right" valign="bottom" colspan="1" nowrap="nowrap"><font style="background-color: #ffffff;">20.25</font></td>
<td style="font-family: serif; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;     border-bottom: 1px solid #000000; padding-top: 0pt " align="left" valign="bottom" nowrap="nowrap">(7)&nbsp;</td>
<td style="border-bottom: 1px solid #000000"><img src="spacer.gif" height="1" width="2"></td>
<td style="font-family: serif; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 1px solid #000000 ;padding-top: 0pt" align="right" valign="bottom" colspan="1">$</td>
<td style="font-family: serif; font-size: 8pt; color: #000000; font-weight: normal;  font-style: normal;  border-bottom: 1px solid #000000 ; padding-left: 0pt; text-indent: 0pt;  padding-top: 0pt" align="right" valign="bottom" colspan="1" nowrap="nowrap"><font style="background-color: #ffffff;">45,941,398</font></td>
<td style="font-family: serif; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;     border-bottom: 1px solid #000000; padding-top: 0pt " align="left" valign="bottom" nowrap="nowrap">&nbsp;</td>
<td style="border-bottom: 1px solid #000000"><img src="spacer.gif" height="1" width="2"></td>
<td style="font-family: serif; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 1px solid #000000 ;padding-top: 0pt" align="right" valign="bottom" colspan="1">$</td>
<td style="font-family: serif; font-size: 8pt; color: #000000; font-weight: normal;  font-style: normal;  border-bottom: 1px solid #000000 ; padding-left: 0pt; text-indent: 0pt;  padding-top: 0pt" align="right" valign="bottom" colspan="1" nowrap="nowrap"><font style="background-color: #ffffff;">5,820.78</font></td>
<td style="font-family: serif; font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;     border-bottom: 1px solid #000000; padding-top: 0pt " align="left" valign="bottom" nowrap="nowrap">&nbsp;</td>
</tr>
<tr>
<td><img src="spacer.gif" height="10" width="1"></td>
</tr>
</table>
</div>
<table cellpadding="0" cellspacing="0" border="0" width="697">
<tr>
<td><img src="spacer.gif" height="1" width="24"></td>
<td><img src="spacer.gif" height="1" width="697"></td>
</tr>
<tr>
<td align="right" valign="top" style="font-family:serif;font-weight:normal;color:#000000;font-size: 8pt;  padding-left: 0pt; text-align: left">(1)
</td>
<td align="left" style="font-family:serif;font-weight:normal;color:#000000;font-size: 8pt;  padding-bottom: 6pt;">Pursuant to Rule 416 under the Securities Act of
1933, as amended, this registration statement also covers additional
shares that may become issuable under the Plan by reason of certain
corporate transactions or events, including any stock dividend, stock
split, recapitalization or any other similar transaction effected
without the receipt of consideration which results in an increase in
the number of the registrant's outstanding shares of common
stock.</td>
</tr>
</table>
<table cellpadding="0" cellspacing="0" border="0" width="697">
<tr>
<td><img src="spacer.gif" height="1" width="24"></td>
<td><img src="spacer.gif" height="1" width="697"></td>
</tr>
<tr>
<td align="right" valign="top" style="font-family:serif;font-weight:normal;color:#000000;font-size: 8pt;  padding-left: 0pt; text-align: left">(2)</td>
<td align="left" style="font-family:serif;font-weight:normal;color:#000000;font-size: 8pt;  padding-bottom: 6pt;">Represents
the number of shares of common stock issuable upon exercise of options
issued as of June 3, 2004 with a weighted average exercise price of
$6.52.</td>
</tr>
</table>
<table cellpadding="0" cellspacing="0" border="0" width="697">
<tr>
<td><img src="spacer.gif" height="1" width="24"></td>
<td><img src="spacer.gif" height="1" width="697"></td>
</tr>
<tr>
<td align="right" valign="top" style="font-family:serif;font-weight:normal;color:#000000;font-size: 8pt;  padding-left: 0pt; text-align: left">(3)</td>
<td align="left" style="font-family:serif;font-weight:normal;color:#000000;font-size: 8pt;  padding-bottom: 6pt;">Represents
the number of shares of common stock issuable upon exercise of options
issued as of June 3, 2004 with a weighted average exercise price of
$18.00.</td>
</tr>
</table>
<table cellpadding="0" cellspacing="0" border="0" width="697">
<tr>
<td><img src="spacer.gif" height="1" width="24"></td>
<td><img src="spacer.gif" height="1" width="697"></td>
</tr>
<tr>
<td align="right" valign="top" style="font-family:serif;font-weight:normal;color:#000000;font-size: 8pt;  padding-left: 0pt; text-align: left">(4)</td>
<td align="left" style="font-family:serif;font-weight:normal;color:#000000;font-size: 8pt;  padding-bottom: 6pt;">Represents
the remaining number of shares of common stock issuable under the
Global Signal Inc. Omnibus Stock Incentive Plan.</td>
</tr>
</table>
<table cellpadding="0" cellspacing="0" border="0" width="697">
<tr>
<td><img src="spacer.gif" height="1" width="24"></td>
<td><img src="spacer.gif" height="1" width="697"></td>
</tr>
<tr>
<td align="right" valign="top" style="font-family:serif;font-weight:normal;color:#000000;font-size: 8pt;  padding-left: 0pt; text-align: left">(5)</td>
<td align="left" style="font-family:serif;font-weight:normal;color:#000000;font-size: 8pt;  padding-bottom: 6pt;">Computed in accordance with
Rule 457(h) under the Securities Act, such computation is based on the
weighted average exercise price of $6.52 per share covering 3,593,200
outstanding options.</td>
</tr>
</table>
<table cellpadding="0" cellspacing="0" border="0" width="697">
<tr>
<td><img src="spacer.gif" height="1" width="24"></td>
<td><img src="spacer.gif" height="1" width="697"></td>
</tr>
<tr>
<td align="right" valign="top" style="font-family:serif;font-weight:normal;color:#000000;font-size: 8pt;  padding-left: 0pt; text-align: left">(6)</td>
<td align="left" style="font-family:serif;font-weight:normal;color:#000000;font-size: 8pt;  padding-bottom: 6pt;">Computed in accordance with
Rule 457(h) under the Securities Act, such computation is based on the
weighted average exercise price of $18.00 per share covering 615,000
outstanding options.</td>
</tr>
</table>
<table cellpadding="0" cellspacing="0" border="0" width="697">
<tr>
<td><img src="spacer.gif" height="1" width="24"></td>
<td><img src="spacer.gif" height="1" width="697"></td>
</tr>
<tr>
<td align="right" valign="top" style="font-family:serif;font-weight:normal;color:#000000;font-size: 8pt;  padding-left: 0pt; text-align: left">(7)</td>
<td align="left" style="font-family:serif;font-weight:normal;color:#000000;font-size: 8pt;  padding-bottom: 6pt;">Computed in accordance with
Rule 457(h) under the Securities Act by averaging the high and low
sales prices of Global Signal Inc common stock as reported by the New
York Stock Exchange on June 3,
2004.</td>
</tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" width="697">
<tr>
<td><img src="spacer.gif" height="3" width="1"></td>
</tr>
<tr>
<td bgcolor="#000000"><img src="spacer.gif" height="1" width="1"></td>
</tr>
<tr>
<td><img src="spacer.gif" height="1" width="1"></td>
</tr>
<tr>
<td bgcolor="#000000"><img src="spacer.gif" height="3" width="1"></td>
</tr>
<tr>
<td><img src="spacer.gif" height="3" width="1"></td>
</tr>
</table>
<br>
<hr width="760" style="padding-left: 0pt;" align="left">
<br>






<page>
<p style="font-family:serif;font-weight:bold;color:#000000;font-size:10pt;  width: 456pt; text-align: center; font-style: normal; line-height: 12pt; padding-top: 12pt; padding-left:0pt; padding-right:0pt; margin: 0pt; text-indent: 0pt; padding-bottom: 0pt; background-color: #ffffff;">EXPLANATORY
NOTE</p>
<p style="font-family:serif;font-weight:normal;color:#000000;font-size:10pt;  width: 456pt; text-align: left; font-style: normal; line-height: 12pt; padding-top:6pt; padding-left:0pt; padding-right:0pt; padding-bottom: 0pt; margin: 0pt; text-indent: 20pt; background-color: #ffffff">This registration statement registers shares of common
stock, par value $0.01 per share (the "Common
Stock"), of Global Signal Inc. (the
"Company") that were issued and sold or may
be issued and sold under the Global Signal Inc. Omnibus Stock Incentive
Plan (the "Plan").</p>
<p style="font-family:serif;font-weight:bold;color:#000000;font-size:10pt;  width: 456pt; text-align: center; font-style: normal; line-height: 12pt; padding-top: 12pt; padding-left:0pt; padding-right:0pt; margin: 0pt; text-indent: 0pt; padding-bottom: 0pt; background-color: #ffffff;">PART I</p>
<p style="font-family:serif;font-weight:bold;color:#000000;font-size:10pt;  width: 456pt; text-align: center; font-style: normal; line-height: 12pt; padding-top: 12pt; padding-left:0pt; padding-right:0pt; margin: 0pt; text-indent: 0pt; padding-bottom: 0pt; background-color: #ffffff;">INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</p>
<p style="font-family:serif;font-weight:bold;color:#000000;font-size:10pt;  width: 456pt; text-align: left; font-style: normal; line-height: 12pt; padding-top: 12pt; padding-left:0pt; padding-right:0pt; margin: 0pt; text-indent: 0pt; padding-bottom: 0pt; background-color: #ffffff;">Item
1. Plan Information.*</p>
<p style="font-family:serif;font-weight:bold;color:#000000;font-size:10pt;  width: 456pt; text-align: left; font-style: normal; line-height: 12pt; padding-top: 12pt; padding-left:0pt; padding-right:0pt; margin: 0pt; text-indent: 0pt; padding-bottom: 0pt; background-color: #ffffff;">Item 2. Registrant Information and
Employee Plan Annual Information.*</p>
<p style="font-family:serif;font-weight:normal;color:#000000;font-size:10pt;  width: 456pt; text-align: left; font-style: normal; line-height: 12pt; padding-top:6pt; padding-left:0pt; padding-right:0pt; padding-bottom: 0pt; margin: 0pt; text-indent: 0pt; background-color: #ffffff">* The documents
containing the information specified in Part I of Form S-8 will be sent
or given to employees as specified by Rule 428(b)(1) of the Securities
Act of 1933, as amended (the "Securities
Act"). Such documents need not be filed with the
Securities and Exchange Commission (the
"SEC") either as part of this registration
statement or as prospectuses or prospectus supplements pursuant to Rule
424 of the Securities Act. These documents and the documents
incorporated by reference in this registration statement pursuant to
Item 3 of Part II of this registration statement, taken together,
constitute a prospectus that meets the requirements of Section 10(a) of
the Securities Act.</p>
<p style="font-family:serif;font-weight:bold;color:#000000;font-size:10pt;  width: 456pt; text-align: center; font-style: normal; line-height: 12pt; padding-top: 12pt; padding-left:0pt; padding-right:0pt; margin: 0pt; text-indent: 0pt; padding-bottom: 0pt; background-color: #ffffff;">PART II</p>
<p style="font-family:serif;font-weight:bold;color:#000000;font-size:10pt;  width: 456pt; text-align: center; font-style: normal; line-height: 12pt; padding-top: 12pt; padding-left:0pt; padding-right:0pt; margin: 0pt; text-indent: 0pt; padding-bottom: 0pt; background-color: #ffffff;">INFORMATION REQUIRED IN
THE REGISTRATION STATEMENT</p>
<p style="font-family:serif;font-weight:bold;color:#000000;font-size:10pt;  width: 456pt; text-align: left; font-style: normal; line-height: 12pt; padding-top: 12pt; padding-left:0pt; padding-right:0pt; margin: 0pt; text-indent: 0pt; padding-bottom: 0pt; background-color: #ffffff;">Item 3. Incorporation of Documents
by Reference.</p>
<p style="font-family:serif;font-weight:normal;color:#000000;font-size:10pt;  width: 456pt; text-align: left; font-style: normal; line-height: 12pt; padding-top:6pt; padding-left:0pt; padding-right:0pt; padding-bottom: 0pt; margin: 0pt; text-indent: 20pt; background-color: #ffffff">The following documents previously filed with the
SEC are incorporated by reference in this registration statement:</p>
<p style="font-family:serif;font-weight:normal;color:#000000;font-size:10pt;  width: 456pt; text-align: left; font-style: normal; line-height: 12pt; padding-top:6pt; padding-left:20pt; padding-right:0pt; padding-bottom: 0pt; margin: 0pt; text-indent: 20pt; background-color: #ffffff">(a) The Company's prospectus, dated June 2,
2004, filed pursuant to Rule 424(b) under the Securities Act (the
"Prospectus") and that contains audited
consolidated financial statements of Global Signal Inc. and its
subsidiaries for the fiscal year ended December 31, 2003;</p>
<p style="font-family:serif;font-weight:normal;color:#000000;font-size:10pt;  width: 456pt; text-align: left; font-style: normal; line-height: 12pt; padding-top:6pt; padding-left:20pt; padding-right:0pt; padding-bottom: 0pt; margin: 0pt; text-indent: 20pt; background-color: #ffffff">(b) All other reports filed pursuant to Section
13(a) or 15(d) of the Securities and Exchange Act of 1934 as amended
(the "Exchange Act") since the end of the
fiscal year covered by the Company's Prospectus; and</p>
<p style="font-family:serif;font-weight:normal;color:#000000;font-size:10pt;  width: 456pt; text-align: left; font-style: normal; line-height: 12pt; padding-top:6pt; padding-left:20pt; padding-right:0pt; padding-bottom: 0pt; margin: 0pt; text-indent: 20pt; background-color: #ffffff">(c) The description of the Common Stock contained in
the Registration Statement on Form 8-A dated May 4, 2004 filed with the
SEC by the Company to register such securities under the Exchange Act,
including any amendment or report filed for the purpose of updating
such description.</p>
<p style="font-family:serif;font-weight:normal;color:#000000;font-size:10pt;  width: 456pt; text-align: left; font-style: normal; line-height: 12pt; padding-top:6pt; padding-left:0pt; padding-right:0pt; padding-bottom: 0pt; margin: 0pt; text-indent: 20pt; background-color: #ffffff">All documents subsequently filed by the
Company pursuant to Sections  13(a), 13(c), 14 and 15(d) of the
Exchange Act, prior to the filing of a post-effective amendment to this
registration statement which indicates that all securities offered have
been sold or which deregisters all securities then remaining unsold,
shall be deemed to be incorporated by reference in this registration
statement and to be part hereof from the date of filing of such
documents.</p>
<p style="font-family:serif;font-weight:normal;color:#000000;font-size:10pt;  width: 456pt; text-align: left; font-style: normal; line-height: 12pt; padding-top:6pt; padding-left:0pt; padding-right:0pt; padding-bottom: 6pt; margin: 0pt; text-indent: 20pt; background-color: #ffffff">Any statement contained in a document incorporated or
deemed to be incorporated by reference in this registration statement
shall be deemed to be modified or superseded for purposes of this
registration statement to the extent that a statement contained in this
registration statement, or in any other subsequently filed document
that also is or is deemed to be incorporated by reference in this
registration statement, modifies or supersedes such prior statement.
Any statement contained in this registration statement shall be deemed
to be modified or superseded to the extent that a statement contained
in a subsequently filed document that is or is deemed to be
incorporated by reference in this registration statement modifies or
supersedes such prior statement. Any statement so modified or
superseded shall not be deemed, except as so modified or superseded, to
constitute a part of this registration statement.</p>
<p style="font-family:serif;font-weight:normal;color:#000000;font-size:10pt; text-align: center; width: 456pt;">1</p>
<br>
<hr width="760" style="padding-left: 0pt;" align="left">
<br>
<page>
<p style="font-family:serif;font-weight:bold;color:#000000;font-size:10pt;  width: 456pt; text-align: left; font-style: normal; line-height: 12pt; padding-top: 12pt; padding-left:0pt; padding-right:0pt; margin: 0pt; text-indent: 0pt; padding-bottom: 0pt; background-color: #ffffff;">Item 4. Description of Securities.</p>
<p style="font-family:serif;font-weight:normal;color:#000000;font-size:10pt;  width: 456pt; text-align: left; font-style: normal; line-height: 12pt; padding-top:6pt; padding-left:0pt; padding-right:0pt; padding-bottom: 0pt; margin: 0pt; text-indent: 20pt; background-color: #ffffff">Not applicable.</p>
<p style="font-family:serif;font-weight:bold;color:#000000;font-size:10pt;  width: 456pt; text-align: left; font-style: normal; line-height: 12pt; padding-top: 12pt; padding-left:0pt; padding-right:0pt; margin: 0pt; text-indent: 0pt; padding-bottom: 0pt; background-color: #ffffff;">Item 5. Interests of Named Experts and
Counsel.</p>
<p style="font-family:serif;font-weight:normal;color:#000000;font-size:10pt;  width: 456pt; text-align: left; font-style: normal; line-height: 12pt; padding-top:6pt; padding-left:0pt; padding-right:0pt; padding-bottom: 0pt; margin: 0pt; text-indent: 20pt; background-color: #ffffff">The legality of the shares of Common Stock offered
hereby has been passed upon for the Company by Stephen W. Crawford,
Executive Vice President, General Counsel and Secretary of the Company.
As of June 3, 2004, Mr. Crawford beneficially owned options to purchase
102,500 shares of Common Stock.</p>
<p style="font-family:serif;font-weight:bold;color:#000000;font-size:10pt;  width: 456pt; text-align: left; font-style: normal; line-height: 12pt; padding-top: 12pt; padding-left:0pt; padding-right:0pt; margin: 0pt; text-indent: 0pt; padding-bottom: 0pt; background-color: #ffffff;">Item 6. Indemnification of
Directors and Officers.</p>
<p style="font-family:serif;font-weight:normal;color:#000000;font-size:10pt;  width: 456pt; text-align: left; font-style: normal; line-height: 12pt; padding-top:6pt; padding-left:0pt; padding-right:0pt; padding-bottom: 0pt; margin: 0pt; text-indent: 20pt; background-color: #ffffff">Section 102 of the Delaware General
Corporation Law, as amended, allows a corporation to eliminate the
personal liability of a director of a corporation to the corporation or
its stockholders for monetary damages for breach of fiduciary duty as a
director, except where the director breached his or her duty of loyalty
to the corporation or its stockholders, failed to act in good faith,
engaged in intentional misconduct or knowingly violated a law,
authorized the payment of a dividend or approved a stock purchase or
redemption in violation of Delaware corporate law or obtained an
improper personal benefit.</p>
<p style="font-family:serif;font-weight:normal;color:#000000;font-size:10pt;  width: 456pt; text-align: left; font-style: normal; line-height: 12pt; padding-top:6pt; padding-left:0pt; padding-right:0pt; padding-bottom: 0pt; margin: 0pt; text-indent: 20pt; background-color: #ffffff">Section 145 of the Delaware General
Corporation Law provides, among other things, that a corporation may
indemnify any person who was or is a party or is threatened to be made
a party to any threatened, pending or completed action, suit or
proceeding (other than an action by or in the right of the corporation)
by reason of the fact that the person is or was a director, officer,
employee or agent of the corporation, or is or was serving at the
corporation's request as a director, officer, employee or agent
of another corporation, partnership, joint venture, trust or other
enterprise, against expenses, including attorneys' fees,
judgments, fines and amounts paid in settlement actually and reasonably
incurred by the person in connection with the action, suit or
proceeding. The power to indemnify applies (1) if such person is
successful on the merits or otherwise in defense of any action, suit or
proceeding or (2) if such person acted in good faith and in a manner he
reasonably believed to be in or not opposed to the best interests of
the corporation, and with respect to any criminal action or proceeding,
had no reasonable cause to believe his conduct was unlawful. The power
to indemnify applies to actions brought by or in the right of the
corporation as well, but only to the extent of defense expenses
(including attorneys' fees but excluding amounts paid in
settlement) actually and reasonably incurred and not to any
satisfaction of judgment or settlement of the claim itself, and with
the further limitation that in such actions no indemnification shall be
made in the event of any adjudication of negligence or misconduct in
the performance of his duties to the corporation, unless a court
believes that in light of all the circumstances indemnification should
apply.</p>
<p style="font-family:serif;font-weight:normal;color:#000000;font-size:10pt;  width: 456pt; text-align: left; font-style: normal; line-height: 12pt; padding-top:6pt; padding-left:0pt; padding-right:0pt; padding-bottom: 0pt; margin: 0pt; text-indent: 20pt; background-color: #ffffff">Section 174 of the Delaware General Corporation Law
provides, among other things, that a director who willfully and
negligently approves of an unlawful payment of dividends or an unlawful
stock purchase or redemption may be held liable for such actions. A
director who was either absent when the unlawful actions were approved
or dissented at the time, may avoid liability by causing his or her
dissent to such actions to be entered in the books containing the
minutes of the meetings of the board of directors at the time the
action occurred or immediately after the absent director receives
notice of the unlawful acts.</p>
<p style="font-family:serif;font-weight:normal;color:#000000;font-size:10pt;  width: 456pt; text-align: left; font-style: normal; line-height: 12pt; padding-top:6pt; padding-left:0pt; padding-right:0pt; padding-bottom: 0pt; margin: 0pt; text-indent: 20pt; background-color: #ffffff">Our amended and restated
certificate of incorporation states that no director shall be liable to
us or any of our stockholders for monetary damages for breach of
fiduciary duty as director, except for breaches of the duty of loyalty,
and for acts or omissions in bad faith or involving intentional
misconduct or knowing violation of law. Directors are also not exempt
from liability for any transaction from which he or she derived an
improper personal benefit, or for violations of Section 174 of the
Delaware Corporation Law. To the maximum extent permitted under Section
145 of the Delaware Corporation Law, our amended and restated
certificate of incorporation authorizes us to indemnify any and all
persons whom we have the power to indemnify under the law.</p>
<p style="font-family:serif;font-weight:normal;color:#000000;font-size:10pt;  width: 456pt; text-align: left; font-style: normal; line-height: 12pt; padding-top:6pt; padding-left:0pt; padding-right:0pt; padding-bottom: 6pt; margin: 0pt; text-indent: 20pt; background-color: #ffffff">Our
amended and restated bylaws indemnify, to the fullest extent permitted
by the Delaware Corporation Law, each person who was or is made a party
or is threatened to be made a party in any </p>
<p style="font-family:serif;font-weight:normal;color:#000000;font-size:10pt; text-align: center; width: 456pt;">2</p>
<br>
<hr width="760" style="padding-left: 0pt;" align="left">
<br>
<page>
<p style="font-family:serif;font-weight:normal;color:#000000;font-size:10pt;  width: 456pt; text-align: left; font-style: normal; line-height: 12pt; padding-top:6pt; padding-left:0pt; padding-right:0pt; padding-bottom: 0pt; margin: 0pt; text-indent: pt; background-color: #ffffff">
legal proceeding by reason of the fact that he
or she is or was our director or officer. However, such indemnification
is permitted only if such person acted in good faith, lawfully and not
against our best interests. Indemnification is authorized on a
case-by-case basis by (1) our board of directors by a majority vote of
disinterested directors, (2) by a committee of the disinterested
directors, (3) by independent legal counsel in a written opinion if (1)
and (2) are not available, or if disinterested directors so direct, or
(4) by the stockholders. Indemnification of former directors or
officers shall be determined by any person authorized to act on the
matter on our behalf. Expenses incurred by a director or officer in
defending against such legal proceedings are payable before the final
disposition of the action, provided that the director or officer
undertakes to repay us if later determined that he or she is not
entitled to indemnification.</p>
<p style="font-family:serif;font-weight:normal;color:#000000;font-size:10pt;  width: 456pt; text-align: left; font-style: normal; line-height: 12pt; padding-top:6pt; padding-left:0pt; padding-right:0pt; padding-bottom: 0pt; margin: 0pt; text-indent: 20pt; background-color: #ffffff">We have entered into
indemnification agreements (the "Indemnification
Agreements") with certain of our directors and officers
(individually, the "Indemnitee"). The
Indemnification Agreements, among other things, provide for
indemnification to the fullest extent permitted by law and our amended
and restated certificate of incorporation and amended and restated
by-laws against any and all expenses, judgments, fines, penalties and
amounts paid in settlement of any claim. The Indemnification Agreements
provide for the advancement or payment of all expenses to the
Indemnitee and for reimbursement to us if it is found that such
Indemnitee is not entitled to such indemnification under applicable law
and our amended and restated certificate of incorporation and amended
and restated by-laws.</p>
<p style="font-family:serif;font-weight:normal;color:#000000;font-size:10pt;  width: 456pt; text-align: left; font-style: normal; line-height: 12pt; padding-top:6pt; padding-left:0pt; padding-right:0pt; padding-bottom: 0pt; margin: 0pt; text-indent: 20pt; background-color: #ffffff">Insofar as indemnification for liabilities
arising under the Securities Act may be permitted to directors,
officers or persons controlling the registrant pursuant to the
foregoing provisions, the registrant has been informed that in the
opinion of the Securities and Exchange Commission such indemnification
is against public policy as expressed in the Securities Act and is
therefore unenforceable.</p>
<p style="font-family:serif;font-weight:normal;color:#000000;font-size:10pt;  width: 456pt; text-align: left; font-style: normal; line-height: 12pt; padding-top:6pt; padding-left:0pt; padding-right:0pt; padding-bottom: 0pt; margin: 0pt; text-indent: 20pt; background-color: #ffffff">We maintain directors' and
officers' liability insurance for our officers and directors.</p>
<p style="font-family:serif;font-weight:normal;color:#000000;font-size:10pt;  width: 456pt; text-align: left; font-style: normal; line-height: 12pt; padding-top:6pt; padding-left:0pt; padding-right:0pt; padding-bottom: 0pt; margin: 0pt; text-indent: 20pt; background-color: #ffffff">The partnership agreement of Global Signal OP provides that neither
we, as special limited partner, nor Global Signal GP LLC, as managing
general partner, nor any of our directors and officers or the directors
and officers of Global Signal GP is liable to the partnership or to any
of its partners as a result of errors in judgment or mistakes of fact
or law or of any act or omission, if we, Global Signal GP, our director
or our officer or a director or our officer of Global Signal GP act in
good faith.</p>
<p style="font-family:serif;font-weight:normal;color:#000000;font-size:10pt;  width: 456pt; text-align: left; font-style: normal; line-height: 12pt; padding-top:6pt; padding-left:0pt; padding-right:0pt; padding-bottom: 0pt; margin: 0pt; text-indent: 20pt; background-color: #ffffff">In addition, the partnership agreement requires our
operating partnership to indemnify and hold us, as special limited
partner, and our directors, officers and any other person we designate,
and Global Signal GP LLC, as managing general partner, and its
directors, officers and any other person it designates from and against
any and all claims arising from operations of the operating partnership
in which any such indemnitee may be involved, or is threatened to be
involved, as a party or otherwise, unless it is established that:</p>
<table cellpadding="0" cellspacing="0" border="0" width="602">
<tr>
<td><img src="spacer.gif" height="1" width="48"></td>
<td><img src="spacer.gif" height="1" width="554"></td>
</tr>
<tr>
<td align="right" valign="top" style="font-family:serif;font-weight:normal;color:#000000;font-size: 10pt; padding-top: 6pt; padding-left: 20pt; text-align: left;  font-style: normal; width: 36pt">&bull; &nbsp;</td>
<td valign="top" style="font-family:serif;font-weight:normal;color:#000000;font-size: 10pt; padding-top:6pt; padding-bottom: 6pt; text-align: left; font-style: normal; width: 420pt">indemnitee acted with willful misconduct
or a knowing violation of the law, or</td>
</tr>
</table>
<table cellpadding="0" cellspacing="0" border="0" width="602">
<tr>
<td><img src="spacer.gif" height="1" width="48"></td>
<td><img src="spacer.gif" height="1" width="554"></td>
</tr>
<tr>
<td align="right" valign="top" style="font-family:serif;font-weight:normal;color:#000000;font-size: 10pt; padding-top: 6pt; padding-left: 20pt; text-align: left;  font-style: normal; width: 36pt">&bull;&nbsp;</td>
<td valign="top" style="font-family:serif;font-weight:normal;color:#000000;font-size: 10pt; padding-top:6pt; padding-bottom: 6pt; text-align: left; font-style: normal; width: 420pt">the indemnitee actually received an
improper personal benefit in violation or breach of any provision of
the Partnership Agreement,</td>
</tr>
</table>
<p style="font-family:serif;font-weight:normal;color:#000000;font-size:10pt;  width: 456pt; text-align: left; font-style: normal; line-height: 12pt; padding-top:6pt; padding-left:0pt; padding-right:0pt; padding-bottom: 0pt; margin: 0pt; text-indent: 20pt; background-color: #ffffff">The partnership agreement provides
that no indemnitee may subject any partner of our operating partnership
to personal liability with respect to the indemnification
obligation.</p>
<p style="font-family:serif;font-weight:bold;color:#000000;font-size:10pt;  width: 456pt; text-align: left; font-style: normal; line-height: 12pt; padding-top: 12pt; padding-left:0pt; padding-right:0pt; margin: 0pt; text-indent: 0pt; padding-bottom: 0pt; background-color: #ffffff;">Item 7. Exemption from Registration Claimed.</p>
<p style="font-family:serif;font-weight:normal;color:#000000;font-size:10pt;  width: 456pt; text-align: left; font-style: normal; line-height: 12pt; padding-top:6pt; padding-left:0pt; padding-right:0pt; padding-bottom: 6pt; margin: 0pt; text-indent: 20pt; background-color: #ffffff">Not applicable.</p>
<p style="font-family:serif;font-weight:normal;color:#000000;font-size:10pt; text-align: center; width: 456pt;">3</p>
<br>
<hr width="760" style="padding-left: 0pt;" align="left">
<br>
<page>
<p style="font-family:serif;font-weight:bold;color:#000000;font-size:10pt;  width: 456pt; text-align: left; font-style: normal; line-height: 12pt; padding-top: 12pt; padding-left:0pt; padding-right:0pt; margin: 0pt; text-indent: 0pt; padding-bottom: 6pt; background-color: #ffffff;">Item 8. Exhibits.</p>
<img src="spacer.gif" height="10" width="1"><br>
<div style="border: 1px; width: 602px; padding-top: 12px" align="center">
<table cellpadding="0" cellspacing="0" border="0" width="602" bgcolor="#ffffff">
<tr>
<!--col #: 1 / width: 79 / data-type: text-->
<td><img src="spacer.gif" height="1" width="1"></td>
<td><img src="spacer.gif" height="1" width="79"></td>
<td><img src="spacer.gif" height="1" width="1"></td>
<td><img src="spacer.gif" height="1" width="8"></td>
<!--col #: 2 / width: 523 / data-type: text--><td><img src="spacer.gif" height="1" width="1"></td>
<td><img src="spacer.gif" height="1" width="523"></td>
<td><img src="spacer.gif" height="1" width="1"></td>
</tr>
<tr>
<td style="font-family: serif; font-size: 8pt; color: #000000; font-weight: bold; font-style: normal; border-bottom: 1px solid #000000 ;padding-top: 0pt" align="center" valign="bottom" colspan="3">Exhibit
No.</td>
<td style="padding-top: 0pt "><img src="spacer.gif" height="1" width="2"></td>
<td style="font-family: serif; font-size: 8pt; color: #000000; font-weight: bold; font-style: normal; border-bottom: 1px solid #000000 ;padding-top: 0pt" align="center" valign="bottom" colspan="3">Description</td>
</tr>
<tr>
<td style="font-family: serif; font-size: 9pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 3px double #ffffff;padding-left: 0pt; text-indent: 0pt;padding-top: 0pt" align="center" valign="top" colspan="3">4.1</td>
<td style="padding-top: 0pt "><img src="spacer.gif" height="1" width="2"></td>
<td style="font-family: serif; font-size: 9pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 3px double #ffffff;padding-left: 0pt; text-indent: 0pt;padding-top: 0pt" align="left" valign="top" colspan="3">Form
of Certificate for common
stock*</td>
</tr>
<tr>
<td style="font-family: serif; font-size: 9pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 3px double #ffffff;padding-left: 0pt; text-indent: 0pt;padding-top: 0pt" align="center" valign="top" colspan="3">4.2</td>
<td style="padding-top: 0pt "><img src="spacer.gif" height="1" width="2"></td>
<td style="font-family: serif; font-size: 9pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 3px double #ffffff;padding-left: 0pt; text-indent: 0pt;padding-top: 0pt" align="left" valign="top" colspan="3">Amended
and Restated Investor Agreement dated as of March 31, 2004 among
Global<br>Signal Inc., Fortress Pinnacle Acquisition LLC, Greenhill
Capital Partners, L.P., and its<br>related partnerships named therein,
and Abrams Capital Partners II, L.P. and certain of<br>its related
partnerships named therein, and other parties named
therein*</td>
</tr>
<tr>
<td style="font-family: serif; font-size: 9pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 3px double #ffffff;padding-left: 0pt; text-indent: 0pt;padding-top: 0pt" align="center" valign="top" colspan="3">4.3</td>
<td style="padding-top: 0pt "><img src="spacer.gif" height="1" width="2"></td>
<td style="font-family: serif; font-size: 9pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 3px double #ffffff;padding-left: 0pt; text-indent: 0pt;padding-top: 0pt" align="left" valign="top" colspan="3">Warrant
Agreement between Pinnacle Holdings Inc. and Wachovia Bank, N.A.,
dated<br>November 1,
2002*</td>
</tr>
<tr>
<td style="font-family: serif; font-size: 9pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 3px double #ffffff;padding-left: 0pt; text-indent: 0pt;padding-top: 0pt" align="center" valign="top" colspan="3">4.4</td>
<td style="padding-top: 0pt "><img src="spacer.gif" height="1" width="2"></td>
<td style="font-family: serif; font-size: 9pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 3px double #ffffff;padding-left: 0pt; text-indent: 0pt;padding-top: 0pt" align="left" valign="top" colspan="3">Amended
and Restated Certificate of
Incorporation*</td>
</tr>
<tr>
<td style="font-family: serif; font-size: 9pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 3px double #ffffff;padding-left: 0pt; text-indent: 0pt;padding-top: 0pt" align="center" valign="top" colspan="3">4.5</td>
<td style="padding-top: 0pt "><img src="spacer.gif" height="1" width="2"></td>
<td style="font-family: serif; font-size: 9pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 3px double #ffffff;padding-left: 0pt; text-indent: 0pt;padding-top: 0pt" align="left" valign="top" colspan="3">Certificate
of Amendment of Amended and Restated Certificate of
Incorporation*</td>
</tr>
<tr>
<td style="font-family: serif; font-size: 9pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 3px double #ffffff;padding-left: 0pt; text-indent: 0pt;padding-top: 0pt" align="center" valign="top" colspan="3">4.6</td>
<td style="padding-top: 0pt "><img src="spacer.gif" height="1" width="2"></td>
<td style="font-family: serif; font-size: 9pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 3px double #ffffff;padding-left: 0pt; text-indent: 0pt;padding-top: 0pt" align="left" valign="top" colspan="3">Amended
and Restated
By-Laws*</td>
</tr>
<tr>
<td style="font-family: serif; font-size: 9pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 3px double #ffffff;padding-left: 0pt; text-indent: 0pt;padding-top: 0pt" align="center" valign="top" colspan="3"> 5.1</td>
<td style="padding-top: 0pt "><img src="spacer.gif" height="1" width="2"></td>
<td style="font-family: serif; font-size: 9pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 3px double #ffffff;padding-left: 0pt; text-indent: 0pt;padding-top: 0pt" align="left" valign="top" colspan="3">Opinion
of Stephen W. Crawford, Executive Vice President, General Counsel and
Secretary of Global Signal
Inc.</td>
</tr>
<tr>
<td style="font-family: serif; font-size: 9pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 3px double #ffffff;padding-left: 0pt; text-indent: 0pt;padding-top: 0pt" align="center" valign="top" colspan="3">23.1</td>
<td style="padding-top: 0pt "><img src="spacer.gif" height="1" width="2"></td>
<td style="font-family: serif; font-size: 9pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 3px double #ffffff;padding-left: 0pt; text-indent: 0pt;padding-top: 0pt" align="left" valign="top" colspan="3">Consent
of Ernst &amp; Young
LLP</td>
</tr>
<tr>
<td style="font-family: serif; font-size: 9pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 3px double #ffffff;padding-left: 0pt; text-indent: 0pt;padding-top: 0pt" align="center" valign="top" colspan="3">23.2</td>
<td style="padding-top: 0pt "><img src="spacer.gif" height="1" width="2"></td>
<td style="font-family: serif; font-size: 9pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 3px double #ffffff;padding-left: 0pt; text-indent: 0pt;padding-top: 0pt" align="left" valign="top" colspan="3">Consent
of Stephen W. Crawford (included in Exhibit
5.1)</td>
</tr>
<tr>
<td style="font-family: serif; font-size: 9pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 3px double #ffffff;padding-left: 0pt; text-indent: 0pt;padding-top: 0pt" align="center" valign="top" colspan="3">24.1</td>
<td style="padding-top: 0pt "><img src="spacer.gif" height="1" width="2"></td>
<td style="font-family: serif; font-size: 9pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 3px double #ffffff;padding-left: 0pt; text-indent: 0pt;padding-top: 0pt" align="left" valign="top" colspan="3">Power
of Attorney (included on signature
page)</td>
</tr>
<tr>
<td style="font-family: serif; font-size: 9pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 3px double #ffffff;padding-left: 0pt; text-indent: 0pt;padding-top: 0pt" align="center" valign="top" colspan="3">99.1</td>
<td style="padding-top: 0pt "><img src="spacer.gif" height="1" width="2"></td>
<td style="font-family: serif; font-size: 9pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 3px double #ffffff;padding-left: 0pt; text-indent: 0pt;padding-top: 0pt" align="left" valign="top" colspan="3">Global
Signal Inc. Omnibus Stock Incentive
Plan*</td>
</tr>
<tr>
<td><img src="spacer.gif" height="10" width="1"></td>
</tr>
</table>
</div>
<!--0-->
<table border="0" cellpadding="0" cellspacing="0" width="602">
<tr>
<td><img src="spacer.gif" width="1" height="8"></td>
</tr>
<tr>
<td bgcolor="#000000"><img src="spacer.gif" height="1"><img src="spacer.gif" height="1" width="78"></td>
<td><img src="spacer.gif" height="1" width="524"></td>
</tr>
<tr>
<td><img src="spacer.gif" height="8" width="1"></td>
</tr>
</table>
<table cellpadding="0" cellspacing="0" border="0" width="602">
<tr>
<td><img src="spacer.gif" height="1" width="16"></td>
<td><img src="spacer.gif" height="1" width="602"></td>
</tr>
<tr>
<td align="right" valign="top" style="font-family:serif;font-weight:normal;color:#000000;font-size: 10pt;  padding-left: 0pt; text-align: left">*</td>
<td align="left" style="font-family:serif;font-weight:normal;color:#000000;font-size: 10pt;  padding-bottom: 6pt;">Incorporated
by reference to the Company's Registration Statement on Form
S-11, as amended (Registration No. 333-112839), filed with the
SEC.</td>
</tr>
</table>
<p style="font-family:serif;font-weight:bold;color:#000000;font-size:10pt;  width: 456pt; text-align: left; font-style: normal; line-height: 12pt; padding-top: 12pt; padding-left:0pt; padding-right:0pt; margin: 0pt; text-indent: 0pt; padding-bottom: 0pt; background-color: #ffffff;">Item 9. Undertakings.</p>
<p style="font-family:serif;font-weight:normal;color:#000000;font-size:10pt;  width: 456pt; text-align: left; font-style: normal; line-height: 12pt; padding-top:6pt; padding-left:0pt; padding-right:0pt; padding-bottom: 0pt; margin: 0pt; text-indent: 20pt; background-color: #ffffff">(a) The undersigned
registrant hereby undertakes:</p>
<p style="font-family:serif;font-weight:normal;color:#000000;font-size:10pt;  width: 456pt; text-align: left; font-style: normal; line-height: 12pt; padding-top:6pt; padding-left:20pt; padding-right:0pt; padding-bottom: 0pt; margin: 0pt; text-indent: 20pt; background-color: #ffffff">(1) To file,
during any period in which offers or sales are being made, a
post-effective amendment to this registration statement:</p>
<p style="font-family:serif;font-weight:normal;color:#000000;font-size:10pt;  width: 456pt; text-align: left; font-style: normal; line-height: 12pt; padding-top:6pt; padding-left:40pt; padding-right:0pt; padding-bottom: 0pt; margin: 0pt; text-indent: 20pt; background-color: #ffffff">(i) To include any prospectus required by section
10(a)(3) of the Securities Act of 1933;</p>
<p style="font-family:serif;font-weight:normal;color:#000000;font-size:10pt;  width: 456pt; text-align: left; font-style: normal; line-height: 12pt; padding-top:6pt; padding-left:40pt; padding-right:0pt; padding-bottom: 0pt; margin: 0pt; text-indent: 20pt; background-color: #ffffff">(ii) To
reflect in the prospectus any facts or events arising after the
effective date of the registration statement (or the most recent
post-effective amendment thereof) which, individually or in the
aggregate, represent a fundamental change in the information set forth
in the registration statement. Notwithstanding the foregoing, any
increase or decrease in volume of securities offered (if the total
dollar value of securities offered would not exceed that which was
registered) and any deviation from the low or high end of the estimated
maximum offering range may be reflected in the form of prospectus filed
with the Commission pursuant to Rule 424(b) if, in the aggregate, the
changes in volume and price represent no more than a 20% change
in the maximum aggregate offering price set forth in the
"Calculation of Registration Fee" table in
the effective registration statement;</p>
<p style="font-family:serif;font-weight:normal;color:#000000;font-size:10pt;  width: 456pt; text-align: left; font-style: normal; line-height: 12pt; padding-top:6pt; padding-left:40pt; padding-right:0pt; padding-bottom: 0pt; margin: 0pt; text-indent: 20pt; background-color: #ffffff">(iii) To
include any material information with respect to the plan of
distribution not previously disclosed in the registration statement or
any material change to such information in the registration
statement;</p>
<p style="font-family:serif;font-weight:normal;color:#000000;font-size:10pt;  width: 456pt; text-align: left; font-style: normal; line-height: 12pt; padding-top:6pt; padding-left:20pt; padding-right:0pt; padding-bottom: 0pt; margin: 0pt; text-indent: 0pt; background-color: #ffffff">provided, however, that paragraphs
(a)(1)(i) and (a)(1)(ii) of this section do not apply if the
information required to be included in a post-effective amendment by
those paragraphs is contained in periodic reports filed with or
furnished to the Commission by the registrant pursuant to section 13 or
section 15(d) of the Securities Exchange Act of 1934 that are
incorporated by reference in the registration statement.</p>
<p style="font-family:serif;font-weight:normal;color:#000000;font-size:10pt;  width: 456pt; text-align: left; font-style: normal; line-height: 12pt; padding-top:6pt; padding-left:20pt; padding-right:0pt; padding-bottom: 6pt; margin: 0pt; text-indent: 20pt; background-color: #ffffff">(2) That, for the purpose of determining any
liability under the Securities Act of 1933, each such post-effective
amendment shall be deemed to be a new registration statement relating
to the securities offered therein, and the offering of such securities
at that time shall be deemed to be the initial bona fide offering
thereof.</p>
<p style="font-family:serif;font-weight:normal;color:#000000;font-size:10pt; text-align: center; width: 456pt;">4</p>
<br>
<hr width="760" style="padding-left: 0pt;" align="left">
<br>
<page>
<p style="font-family:serif;font-weight:normal;color:#000000;font-size:10pt;  width: 456pt; text-align: left; font-style: normal; line-height: 12pt; padding-top:6pt; padding-left:20pt; padding-right:0pt; padding-bottom: 0pt; margin: 0pt; text-indent: 20pt; background-color: #ffffff">(3) To remove from
registration by means of a post-effective amendment any of the
securities being registered which remain unsold at the termination of
the offering.</p>
<p style="font-family:serif;font-weight:normal;color:#000000;font-size:10pt;  width: 456pt; text-align: left; font-style: normal; line-height: 12pt; padding-top:6pt; padding-left:0pt; padding-right:0pt; padding-bottom: 0pt; margin: 0pt; text-indent: 20pt; background-color: #ffffff">(b) The undersigned registrant hereby undertakes
that, for purposes of determining any liability under the Securities
Act of 1933, each filing of the registrant's annual report
pursuant to section 13(a) or section 15(d) of the Securities Exchange
Act of 1934 (and, where applicable, each filing of an employee benefit
plan's annual report pursuant to section 15(d) of the Securities
Exchange Act of 1934) that is incorporated by reference in the
registration statement shall be deemed to be a new registration
statement relating to the securities offered therein, and the offering
of such securities at that time shall be deemed to be the initial bona
fide offering thereof.</p>
<p style="font-family:serif;font-weight:normal;color:#000000;font-size:10pt;  width: 456pt; text-align: left; font-style: normal; line-height: 12pt; padding-top:6pt; padding-left:0pt; padding-right:0pt; padding-bottom: 6pt; margin: 0pt; text-indent: 20pt; background-color: #ffffff">(c) Insofar as indemnification for
liabilities arising under the Securities Act of 1933 may be permitted
to directors, officers and controlling persons of the registrant
pursuant to the foregoing provisions, or otherwise, the registrant has
been advised that in the opinion of the Securities and Exchange
Commission such indemnification is against public policy as expressed
in the Act and is, therefore, unenforceable. In the event that a claim
for indemnification against such liabilities (other than the payment by
the registrant of expenses incurred or paid by a director, officer or
controlling person of the registrant in the successful defense of any
action, suit or proceeding) is asserted by such director, officer or
controlling person in connection with the securities being registered,
the registrant will, unless in the opinion of its counsel the matter
has been settled by controlling precedent, submit to a court of
appropriate jurisdiction the question whether such indemnification by
it is against public policy as expressed in the Act and will be
governed by the final adjudication of such
issue.</p>
<p style="font-family:serif;font-weight:normal;color:#000000;font-size:10pt; text-align: center; width: 456pt;">5</p>
<br>
<hr width="760" style="padding-left: 0pt;" align="left">
<br>






<page>
<p style="font-family:serif;font-weight:bold;color:#000000;font-size:10pt;  width: 456pt; text-align: center; font-style: normal; line-height: 12pt; padding-top: 12pt; padding-left:0pt; padding-right:0pt; margin: 0pt; text-indent: 0pt; padding-bottom: 0pt; background-color: #ffffff;">SIGNATURES</p>
<p style="font-family:serif;font-weight:normal;color:#000000;font-size:10pt;  width: 456pt; text-align: left; font-style: normal; line-height: 12pt; padding-top:6pt; padding-left:0pt; padding-right:0pt; padding-bottom: 0pt; margin: 0pt; text-indent: 20pt; background-color: #ffffff">Pursuant to the requirements of the Securities Act of 1933, the
registrant certifies that it has reasonable grounds to believe that it
meets all of the requirements for filing on Form S-8 and has duly
caused this registration statement to be signed on its behalf by the
undersigned, thereunto duly authorized, in City of Sarasota, State of
Florida, on June 4, 2004.</p>
<p style="font-family:serif;font-weight:normal;color:#000000;font-size:10pt;  width: 456pt; text-align: left; font-style: normal; line-height: 12pt; padding-top:12pt; padding-left:0pt; padding-right:0pt; padding-bottom: 0pt; margin: 0pt; text-indent: 216pt; background-color: #ffffff">GLOBAL SIGNAL
INC.</p>
<p style="font-family:serif;font-weight:normal;color:#000000;font-size:10pt;  width: 456pt; text-align: left; font-style: normal; line-height: 12pt; padding-top:24pt; padding-left:0pt; padding-right:0pt; padding-bottom: 6pt; margin: 0pt; text-indent: 216pt; background-color: #ffffff">By: <u>/s/ Wesley R.
Edens&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>
</p>
<div style="width: 593;">
<table border="0" cellpadding="0" cellspacing="0" width="593">
<tr>
<td style="font-family: serif; font-size: 10pt; color: #000000; font-weight: normal; font-style: normal; padding-top: 6pt" valign="top" align="left" width="305"><img src="spacer.gif" height="1" width="305"></td>
<td style="font-family: serif; font-size: 10pt; color: #000000; font-weight: normal; font-style: normal; padding-top: 6pt" valign="top" align="left">Name: Wesley R. Edens<br> Title: Chief
Executive Officer</td>
</tr>
</table>
</div>
<p style="font-family:serif;font-weight:bold;color:#000000;font-size:10pt;  width: 456pt; text-align: center; font-style: normal; line-height: 12pt; padding-top: 24pt; padding-left:0pt; padding-right:0pt; margin: 0pt; text-indent: 0pt; padding-bottom: 0pt; background-color: #ffffff;">POWER OF ATTORNEY</p>
<p style="font-family:serif;font-weight:normal;color:#000000;font-size:10pt;  width: 456pt; text-align: left; font-style: normal; line-height: 12pt; padding-top:6pt; padding-left:0pt; padding-right:0pt; padding-bottom: 0pt; margin: 0pt; text-indent: 20pt; background-color: #ffffff">Each of the
undersigned officers and directors of Global Signal Inc., a Delaware
corporation, hereby constitutes and appoints Wesley R. Edens, David J.
Grain and William T. Freeman and each of them, severally, as his or her
attorney-in-fact and agent, with full power of substitution and
resubstitution, in his or her name and on his or her behalf, to sign in
any and all capacities this Registration Statement and any and all
amendments (including post-effective amendments) and exhibits to this
Registration Statement and any and all applications and other documents
relating thereto, with the Securities and Exchange Commission, with
full power and authority to perform and do any and all acts and things
whatsoever which any such attorney or substitute may deem necessary or
advisable to be performed or done in connection with any or all of the
above-described matters, as fully as each of the undersigned could do
if personally present and acting, hereby ratifying and approving all
acts of any such attorney or substitute. </p>
<p style="font-family:serif;font-weight:normal;color:#000000;font-size:10pt;  width: 456pt; text-align: left; font-style: normal; line-height: 12pt; padding-top:6pt; padding-left:0pt; padding-right:0pt; padding-bottom: 6pt; margin: 0pt; text-indent: 20pt; background-color: #ffffff">Pursuant to the
requirements of the Securities Act of 1933, this registration statement
has been signed by the following persons in the capacities and on the
date indicated.</p>
<table cellpadding="0" cellspacing="0" border="0" width="593">
<tr>
<td><img src="spacer.gif" height="1" width="218"></td>
<td><img src="spacer.gif" height="1" width="16"></td>
<td><img src="spacer.gif" height="1" width="234"></td>
<td><img src="spacer.gif" height="1" width="16"></td>
<td><img src="spacer.gif" height="1" width="109"></td>
</tr>
<tr>
<td style="font-family: serif; font-weight: bold; font-size: 8pt; font-style: normal; line-height: 12pt; border-bottom: 1px solid #000000;" align="center">Signature</td>
<td></td>
<td style="font-family: serif; font-weight: bold; font-size: 8pt; font-style: normal; line-height: 12pt; border-bottom: 1px solid #000000;" align="center">Title</td>
<td></td>
<td style="font-family: serif; font-weight: bold; font-size: 8pt; font-style: normal; line-height: 12pt; border-bottom: 1px solid #000000;" align="center">Date</td>
</tr>
<tr>
<td><img src="spacer.gif" height="16" width="1"></td>
</tr>
<tr>
<td valign="top" align="center" style="font-family: serif; font-weight: normal; font-size: 10pt; normal; line-height: 12pt ; ">/s/
Wesley R. Edens</td>
<td rowspan="3"></td>
<td valign="top" rowspan="3" style="font-family: serif; font-weight: normal; font-size: 10pt; font-style: normal; line-height: 12pt; " align="left">Chief
Executive Officer and Chairman of the Board (Principal executive
officer)</td>
<td rowspan="3"></td>
<td valign="top" rowspan="3" style="font-family: serif; font-weight: normal; font-size: 10pt; normal; line-height: 12pt; " align="center">June 4, 2004</td>
</tr>
<tr>
<td bgcolor="#000000"><img src="spacer.gif" height="1" width="1"></td>
</tr>
<tr>
<td align="center" valign="top" style="font-family: serif; font-weight: normal;  font-size: 10pt ; font-style: normal; line-height: 12pt ; ">Wesley R. Edens</td>
</tr>
<tr>
<td><img src="spacer.gif" height="16" width="1"></td>
</tr>
<tr>
<td valign="top" align="center" style="font-family: serif; font-weight: normal; font-size: 10pt; normal; line-height: 12pt ; ">/s/ David
J. Grain</td>
<td rowspan="3"></td>
<td valign="top" rowspan="3" style="font-family: serif; font-weight: normal; font-size: 10pt; font-style: normal; line-height: 12pt; " align="left">President</td>
<td rowspan="3"></td>
<td valign="top" rowspan="3" style="font-family: serif; font-weight: normal; font-size: 10pt; normal; line-height: 12pt; " align="center">June 4,
2004</td>
</tr>
<tr>
<td bgcolor="#000000"><img src="spacer.gif" height="1" width="1"></td>
</tr>
<tr>
<td align="center" valign="top" style="font-family: serif; font-weight: normal;  font-size: 10pt ; font-style: normal; line-height: 12pt ; ">David J.
Grain</td>
</tr>
<tr>
<td><img src="spacer.gif" height="16" width="1"></td>
</tr>
<tr>
<td valign="top" align="center" style="font-family: serif; font-weight: normal; font-size: 10pt; normal; line-height: 12pt ; ">/s/ William T.
Freeman</td>
<td rowspan="3"></td>
<td valign="top" rowspan="3" style="font-family: serif; font-weight: normal; font-size: 10pt; font-style: normal; line-height: 12pt; " align="left">Executive
Vice President, Chief Financial Officer and Assistant Secretary
(Principal financial officer)</td>
<td rowspan="3"></td>
<td valign="top" rowspan="3" style="font-family: serif; font-weight: normal; font-size: 10pt; normal; line-height: 12pt; " align="center">June 4,
2004</td>
</tr>
<tr>
<td bgcolor="#000000"><img src="spacer.gif" height="1" width="1"></td>
</tr>
<tr>
<td align="center" valign="top" style="font-family: serif; font-weight: normal;  font-size: 10pt ; font-style: normal; line-height: 12pt ; ">William T. Freeman</td>
</tr>
<tr>
<td><img src="spacer.gif" height="16" width="1"></td>
</tr>
<tr>
<td valign="top" align="center" style="font-family: serif; font-weight: normal; font-size: 10pt; normal; line-height: 12pt ; ">/s/ Camille Blommer</td>
<td rowspan="3"></td>
<td valign="top" rowspan="3" style="font-family: serif; font-weight: normal; font-size: 10pt; font-style: normal; line-height: 12pt; " align="left">Controller (Principal accounting
officer)</td>
<td rowspan="3"></td>
<td valign="top" rowspan="3" style="font-family: serif; font-weight: normal; font-size: 10pt; normal; line-height: 12pt; " align="center">June 4, 2004</td>
</tr>
<tr>
<td bgcolor="#000000"><img src="spacer.gif" height="1" width="1"></td>
</tr>
<tr>
<td align="center" valign="top" style="font-family: serif; font-weight: normal;  font-size: 10pt ; font-style: normal; line-height: 12pt ; ">Camille
Blommer</td>
</tr>
<tr>
<td><img src="spacer.gif" height="16" width="1"></td>
</tr>
<tr>
<td valign="top" align="center" style="font-family: serif; font-weight: normal; font-size: 10pt; normal; line-height: 12pt ; ">/s/ David
Abrams</td>
<td rowspan="3"></td>
<td valign="top" rowspan="3" style="font-family: serif; font-weight: normal; font-size: 10pt; font-style: normal; line-height: 12pt; " align="left">Director</td>
<td rowspan="3"></td>
<td valign="top" rowspan="3" style="font-family: serif; font-weight: normal; font-size: 10pt; normal; line-height: 12pt; " align="center">June 4,
2004</td>
</tr>
<tr>
<td bgcolor="#000000"><img src="spacer.gif" height="1" width="1"></td>
</tr>
<tr>
<td align="center" valign="top" style="font-family: serif; font-weight: normal;  font-size: 10pt ; font-style: normal; line-height: 12pt ; ">David
Abrams</td>
</tr>
<tr>
<td><img src="spacer.gif" height="16" width="1"></td>
</tr>
<tr>
<td valign="top" align="center" style="font-family: serif; font-weight: normal; font-size: 10pt; normal; line-height: 12pt ; ">/s/ Robert H.
Niehaus</td>
<td rowspan="3"></td>
<td valign="top" rowspan="3" style="font-family: serif; font-weight: normal; font-size: 10pt; font-style: normal; line-height: 12pt; " align="left">Director</td>
<td rowspan="3"></td>
<td valign="top" rowspan="3" style="font-family: serif; font-weight: normal; font-size: 10pt; normal; line-height: 12pt; " align="center">June 4,
2004</td>
</tr>
<tr>
<td bgcolor="#000000"><img src="spacer.gif" height="1" width="1"></td>
</tr>
<tr>
<td align="center" valign="top" style="font-family: serif; font-weight: normal;  font-size: 10pt ; font-style: normal; line-height: 12pt ; ">Robert H.
Niehaus</td>
</tr>
<tr>
<td><img src="spacer.gif" height="16" width="1"></td>
</tr>
<tr>
<td valign="top" align="center" style="font-family: serif; font-weight: normal; font-size: 10pt; normal; line-height: 12pt ; ">/s/ Robert H. Gidel</td>
<td rowspan="3"></td>
<td valign="top" rowspan="3" style="font-family: serif; font-weight: normal; font-size: 10pt; font-style: normal; line-height: 12pt; " align="left">Director</td>
<td rowspan="3"></td>
<td valign="top" rowspan="3" style="font-family: serif; font-weight: normal; font-size: 10pt; normal; line-height: 12pt; " align="center">June 4,
2004</td>
</tr>
<tr>
<td bgcolor="#000000"><img src="spacer.gif" height="1" width="1"></td>
</tr>
<tr>
<td align="center" valign="top" style="font-family: serif; font-weight: normal;  font-size: 10pt ; font-style: normal; line-height: 12pt ; ">Robert
H. Gidel</td>
</tr>
<tr>
<td><img src="spacer.gif" height="16" width="1"></td>
</tr>
</table>
<p style="font-family:serif;font-weight:normal;color:#000000;font-size:10pt; text-align: center; width: 456pt;">6</p>
<br>
<hr width="760" style="padding-left: 0pt;" align="left">
<br>
<page>
<table cellpadding="0" cellspacing="0" border="0" width="593">
<tr>
<td><img src="spacer.gif" height="1" width="218"></td>
<td><img src="spacer.gif" height="1" width="16"></td>
<td><img src="spacer.gif" height="1" width="234"></td>
<td><img src="spacer.gif" height="1" width="16"></td>
<td><img src="spacer.gif" height="1" width="109"></td>
</tr>
<tr>
<td style="font-family: serif; font-weight: bold; font-size: 8pt; font-style: normal; line-height: 12pt; border-bottom: 1px solid #000000;" align="center">Signature</td>
<td></td>
<td style="font-family: serif; font-weight: bold; font-size: 8pt; font-style: normal; line-height: 12pt; border-bottom: 1px solid #000000;" align="center">Title</td>
<td></td>
<td style="font-family: serif; font-weight: bold; font-size: 8pt; font-style: normal; line-height: 12pt; border-bottom: 1px solid #000000;" align="center">Date</td>
</tr>
<tr>
<td><img src="spacer.gif" height="16" width="1"></td>
</tr>
<tr>
<td valign="top" align="center" style="font-family: serif; font-weight: normal; font-size: 10pt; normal; line-height: 12pt ; ">/s/ Howard
Rubin</td>
<td rowspan="3"></td>
<td valign="top" rowspan="3" style="font-family: serif; font-weight: normal; font-size: 10pt; font-style: normal; line-height: 12pt; " align="left">Director</td>
<td rowspan="3"></td>
<td valign="top" rowspan="3" style="font-family: serif; font-weight: normal; font-size: 10pt; normal; line-height: 12pt; " align="center">June 4,
2004</td>
</tr>
<tr>
<td bgcolor="#000000"><img src="spacer.gif" height="1" width="1"></td>
</tr>
<tr>
<td align="center" valign="top" style="font-family: serif; font-weight: normal;  font-size: 10pt ; font-style: normal; line-height: 12pt ; ">Howard
Rubin</td>
</tr>
<tr>
<td><img src="spacer.gif" height="16" width="1"></td>
</tr>
<tr>
<td valign="top" align="center" style="font-family: serif; font-weight: normal; font-size: 10pt; normal; line-height: 12pt ; ">/s/ Mark Whiting</td>
<td rowspan="3"></td>
<td valign="top" rowspan="3" style="font-family: serif; font-weight: normal; font-size: 10pt; font-style: normal; line-height: 12pt; " align="left">Director</td>
<td rowspan="3"></td>
<td valign="top" rowspan="3" style="font-family: serif; font-weight: normal; font-size: 10pt; normal; line-height: 12pt; " align="center">June 4,
2004</td>
</tr>
<tr>
<td bgcolor="#000000"><img src="spacer.gif" height="1" width="1"></td>
</tr>
<tr>
<td align="center" valign="top" style="font-family: serif; font-weight: normal;  font-size: 10pt ; font-style: normal; line-height: 12pt ; ">Mark
Whiting</td>
</tr>
<tr>
<td><img src="spacer.gif" height="16" width="1"></td>
</tr>
<tr>
<td valign="top" align="center" style="font-family: serif; font-weight: normal; font-size: 10pt; normal; line-height: 12pt ; ">/s/ Douglas L.
Jacobs</td>
<td rowspan="3"></td>
<td valign="top" rowspan="3" style="font-family: serif; font-weight: normal; font-size: 10pt; font-style: normal; line-height: 12pt; " align="left">Director</td>
<td rowspan="3"></td>
<td valign="top" rowspan="3" style="font-family: serif; font-weight: normal; font-size: 10pt; normal; line-height: 12pt; " align="center">June 4,
2004</td>
</tr>
<tr>
<td bgcolor="#000000"><img src="spacer.gif" height="1" width="1"></td>
</tr>
<tr>
<td align="center" valign="top" style="font-family: serif; font-weight: normal;  font-size: 10pt ; font-style: normal; line-height: 12pt ; ">Douglas L.
Jacobs</td>
</tr>
<tr>
<td><img src="spacer.gif" height="16" width="1"></td>
</tr>
</table>
<p style="font-family:serif;font-weight:normal;color:#000000;font-size:10pt; text-align: center; width: 456pt;">7</p>
<br>
<hr width="760" style="padding-left: 0pt;" align="left">
<br>






<page>
<p style="font-family:serif;font-weight:bold;color:#000000;font-size:10pt;  width: 456pt; text-align: center; font-style: normal; line-height: 12pt; padding-top: 12pt; padding-left:0pt; padding-right:0pt; margin: 0pt; text-indent: 0pt; padding-bottom: 6pt; background-color: #ffffff;">EXHIBIT
INDEX</p>
<img src="spacer.gif" height="10" width="1"><br>
<div style="border: 1px; width: 602px; padding-top: 0px" align="center">
<table cellpadding="0" cellspacing="0" border="0" width="602" bgcolor="#ffffff">
<tr>
<!--col #: 1 / width: 63 / data-type: text-->
<td><img src="spacer.gif" height="1" width="1"></td>
<td><img src="spacer.gif" height="1" width="63"></td>
<td><img src="spacer.gif" height="1" width="1"></td>
<td><img src="spacer.gif" height="1" width="8"></td>
<!--col #: 2 / width: 16 / data-type: text--><td><img src="spacer.gif" height="1" width="1"></td>
<td><img src="spacer.gif" height="1" width="16"></td>
<td><img src="spacer.gif" height="1" width="1"></td>
<td><img src="spacer.gif" height="1" width="8"></td>
<!--col #: 3 / width: 507 / data-type: text--><td><img src="spacer.gif" height="1" width="1"></td>
<td><img src="spacer.gif" height="1" width="507"></td>
<td><img src="spacer.gif" height="1" width="1"></td>
</tr>
<tr>
<td style="font-family: serif; font-size: 8pt; color: #000000; font-weight: bold; font-style: normal; border-bottom: 1px solid #000000 ;padding-top: 0pt" align="center" valign="bottom" colspan="3">Exhibit<br>No.</td>
<td style="padding-top: 0pt "><img src="spacer.gif" height="1" width="2"></td>
<td style="font-family: serif; font-size: 8pt; color: #000000; font-weight: bold; font-style: normal; border-bottom: 3px double #ffffff;padding-top: 0pt" align="center" valign="bottom" colspan="3">&nbsp;</td>
<td style="padding-top: 0pt "><img src="spacer.gif" height="1" width="2"></td>
<td style="font-family: serif; font-size: 8pt; color: #000000; font-weight: bold; font-style: normal; border-bottom: 1px solid #000000 ;padding-top: 0pt" align="center" valign="bottom" colspan="3">Description</td>
</tr>
<tr>
<td style="font-family: serif; font-size: 9pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 3px double #ffffff;padding-left: 0pt; text-indent: 0pt;padding-top: 0pt" align="center" valign="top" colspan="3">4.1</td>
<td style="padding-top: 0pt "><img src="spacer.gif" height="1" width="2"></td>
<td style="font-family: serif; font-size: 9pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 3px double #ffffff;padding-left: 0pt; text-indent: 0pt;padding-top: 0pt" align="left" valign="top" colspan="3">&nbsp;</td>
<td style="padding-top: 0pt "><img src="spacer.gif" height="1" width="2"></td>
<td style="font-family: serif; font-size: 9pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 3px double #ffffff;padding-left: 0pt; text-indent: 0pt;padding-top: 0pt" align="left" valign="top" colspan="3">Form
of Certificate for common
stock*</td>
</tr>
<tr>
<td style="font-family: serif; font-size: 9pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 3px double #ffffff;padding-left: 0pt; text-indent: 0pt;padding-top: 0pt" align="center" valign="top" colspan="3">4.2</td>
<td style="padding-top: 0pt "><img src="spacer.gif" height="1" width="2"></td>
<td style="font-family: serif; font-size: 9pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 3px double #ffffff;padding-left: 0pt; text-indent: 0pt;padding-top: 0pt" align="left" valign="top" colspan="3">&nbsp;</td>
<td style="padding-top: 0pt "><img src="spacer.gif" height="1" width="2"></td>
<td style="font-family: serif; font-size: 9pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 3px double #ffffff;padding-left: 0pt; text-indent: 0pt;padding-top: 0pt" align="left" valign="top" colspan="3">Amended and Restated
Investor Agreement dated as of March 31, 2004 among Global Signal Inc.,
Fortress Pinnacle Acquisition LLC, Greenhill Capital Partners, L.P.,
and its related partnerships named therein, and Abrams Capital Partners
II, L.P. and certain of its related partnerships named therein, and
other parties named
therein*</td>
</tr>
<tr>
<td style="font-family: serif; font-size: 9pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 3px double #ffffff;padding-left: 0pt; text-indent: 0pt;padding-top: 0pt" align="center" valign="top" colspan="3">4.3</td>
<td style="padding-top: 0pt "><img src="spacer.gif" height="1" width="2"></td>
<td style="font-family: serif; font-size: 9pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 3px double #ffffff;padding-left: 0pt; text-indent: 0pt;padding-top: 0pt" align="left" valign="top" colspan="3">&nbsp;</td>
<td style="padding-top: 0pt "><img src="spacer.gif" height="1" width="2"></td>
<td style="font-family: serif; font-size: 9pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 3px double #ffffff;padding-left: 0pt; text-indent: 0pt;padding-top: 0pt" align="left" valign="top" colspan="3">Warrant Agreement
between Pinnacle Holdings Inc. and Wachovia Bank, N.A., dated November
1, 2002*</td>
</tr>
<tr>
<td style="font-family: serif; font-size: 9pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 3px double #ffffff;padding-left: 0pt; text-indent: 0pt;padding-top: 0pt" align="center" valign="top" colspan="3">4.4</td>
<td style="padding-top: 0pt "><img src="spacer.gif" height="1" width="2"></td>
<td style="font-family: serif; font-size: 9pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 3px double #ffffff;padding-left: 0pt; text-indent: 0pt;padding-top: 0pt" align="left" valign="top" colspan="3">&nbsp;</td>
<td style="padding-top: 0pt "><img src="spacer.gif" height="1" width="2"></td>
<td style="font-family: serif; font-size: 9pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 3px double #ffffff;padding-left: 0pt; text-indent: 0pt;padding-top: 0pt" align="left" valign="top" colspan="3">Amended and Restated
Certificate of
Incorporation*</td>
</tr>
<tr>
<td style="font-family: serif; font-size: 9pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 3px double #ffffff;padding-left: 0pt; text-indent: 0pt;padding-top: 0pt" align="center" valign="top" colspan="3">4.5</td>
<td style="padding-top: 0pt "><img src="spacer.gif" height="1" width="2"></td>
<td style="font-family: serif; font-size: 9pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 3px double #ffffff;padding-left: 0pt; text-indent: 0pt;padding-top: 0pt" align="left" valign="top" colspan="3">&nbsp;</td>
<td style="padding-top: 0pt "><img src="spacer.gif" height="1" width="2"></td>
<td style="font-family: serif; font-size: 9pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 3px double #ffffff;padding-left: 0pt; text-indent: 0pt;padding-top: 0pt" align="left" valign="top" colspan="3">Certificate of
Amendment of Amended and Restated Certificate of
Incorporation*</td>
</tr>
<tr>
<td style="font-family: serif; font-size: 9pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 3px double #ffffff;padding-left: 0pt; text-indent: 0pt;padding-top: 0pt" align="center" valign="top" colspan="3">4.6</td>
<td style="padding-top: 0pt "><img src="spacer.gif" height="1" width="2"></td>
<td style="font-family: serif; font-size: 9pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 3px double #ffffff;padding-left: 0pt; text-indent: 0pt;padding-top: 0pt" align="left" valign="top" colspan="3">&nbsp;</td>
<td style="padding-top: 0pt "><img src="spacer.gif" height="1" width="2"></td>
<td style="font-family: serif; font-size: 9pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 3px double #ffffff;padding-left: 0pt; text-indent: 0pt;padding-top: 0pt" align="left" valign="top" colspan="3">Amended and
Restated
By-Laws*</td>
</tr>
<tr>
<td style="font-family: serif; font-size: 9pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 3px double #ffffff;padding-left: 0pt; text-indent: 0pt;padding-top: 0pt" align="center" valign="top" colspan="3"> 5.1</td>
<td style="padding-top: 0pt "><img src="spacer.gif" height="1" width="2"></td>
<td style="font-family: serif; font-size: 9pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 3px double #ffffff;padding-left: 0pt; text-indent: 0pt;padding-top: 0pt" align="left" valign="top" colspan="3"> &nbsp;</td>
<td style="padding-top: 0pt "><img src="spacer.gif" height="1" width="2"></td>
<td style="font-family: serif; font-size: 9pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 3px double #ffffff;padding-left: 0pt; text-indent: 0pt;padding-top: 0pt" align="left" valign="top" colspan="3">Opinion
of Stephen W. Crawford, Executive Vice President, General Counsel and
Secretary of Global Signal
Inc.</td>
</tr>
<tr>
<td style="font-family: serif; font-size: 9pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 3px double #ffffff;padding-left: 0pt; text-indent: 0pt;padding-top: 0pt" align="center" valign="top" colspan="3">23.1</td>
<td style="padding-top: 0pt "><img src="spacer.gif" height="1" width="2"></td>
<td style="font-family: serif; font-size: 9pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 3px double #ffffff;padding-left: 0pt; text-indent: 0pt;padding-top: 0pt" align="left" valign="top" colspan="3"> &nbsp;</td>
<td style="padding-top: 0pt "><img src="spacer.gif" height="1" width="2"></td>
<td style="font-family: serif; font-size: 9pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 3px double #ffffff;padding-left: 0pt; text-indent: 0pt;padding-top: 0pt" align="left" valign="top" colspan="3">Consent of Ernst
&amp; Young LLP</td>
</tr>
<tr>
<td style="font-family: serif; font-size: 9pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 3px double #ffffff;padding-left: 0pt; text-indent: 0pt;padding-top: 0pt" align="center" valign="top" colspan="3">23.2</td>
<td style="padding-top: 0pt "><img src="spacer.gif" height="1" width="2"></td>
<td style="font-family: serif; font-size: 9pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 3px double #ffffff;padding-left: 0pt; text-indent: 0pt;padding-top: 0pt" align="left" valign="top" colspan="3"> &nbsp;</td>
<td style="padding-top: 0pt "><img src="spacer.gif" height="1" width="2"></td>
<td style="font-family: serif; font-size: 9pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 3px double #ffffff;padding-left: 0pt; text-indent: 0pt;padding-top: 0pt" align="left" valign="top" colspan="3">Consent
of Stephen W. Crawford (included in Exhibit
5.1)</td>
</tr>
<tr>
<td style="font-family: serif; font-size: 9pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 3px double #ffffff;padding-left: 0pt; text-indent: 0pt;padding-top: 0pt" align="center" valign="top" colspan="3">24.1</td>
<td style="padding-top: 0pt "><img src="spacer.gif" height="1" width="2"></td>
<td style="font-family: serif; font-size: 9pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 3px double #ffffff;padding-left: 0pt; text-indent: 0pt;padding-top: 0pt" align="left" valign="top" colspan="3"> &nbsp;</td>
<td style="padding-top: 0pt "><img src="spacer.gif" height="1" width="2"></td>
<td style="font-family: serif; font-size: 9pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 3px double #ffffff;padding-left: 0pt; text-indent: 0pt;padding-top: 0pt" align="left" valign="top" colspan="3">Power of Attorney
(included on signature
page)</td>
</tr>
<tr>
<td style="font-family: serif; font-size: 9pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 3px double #ffffff;padding-left: 0pt; text-indent: 0pt;padding-top: 0pt" align="center" valign="top" colspan="3">99.1</td>
<td style="padding-top: 0pt "><img src="spacer.gif" height="1" width="2"></td>
<td style="font-family: serif; font-size: 9pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 3px double #ffffff;padding-left: 0pt; text-indent: 0pt;padding-top: 0pt" align="left" valign="top" colspan="3"> &nbsp;</td>
<td style="padding-top: 0pt "><img src="spacer.gif" height="1" width="2"></td>
<td style="font-family: serif; font-size: 9pt; color: #000000; font-weight: normal; font-style: normal; border-bottom: 3px double #ffffff;padding-left: 0pt; text-indent: 0pt;padding-top: 0pt" align="left" valign="top" colspan="3">Global Signal
Inc. Omnibus Stock Incentive
Plan*</td>
</tr>
<tr>
<td><img src="spacer.gif" height="10" width="1"></td>
</tr>
</table>
</div>
<table cellpadding="0" cellspacing="0" border="0" width="602">
<tr>
<td><img src="spacer.gif" height="1" width="23"></td>
<td><img src="spacer.gif" height="1" width="602"></td>
</tr>
<tr>
<td align="right" valign="top" style="font-family:serif;font-weight:normal;color:#000000;font-size: 10pt;  padding-left: 0pt; text-align: left">*</td>
<td align="left" style="font-family:serif;font-weight:normal;color:#000000;font-size: 10pt;  padding-bottom: 6pt;">Incorporated by reference to
the Company's Registration Statement on Form S-11, as amended
(Registration No. 333-112839), filed with the
SEC.</td>
</tr>
</table>
<p style="font-family:serif;font-weight:normal;color:#000000;font-size:10pt; text-align: center; width: 456pt;">8</p>
<br>
<hr width="760" style="padding-left: 0pt;" align="left">
<br>



</BODY>
</HTML>
[{"type": "S-8", "sequence": "1", "filename": "file001.htm", "description": "FORM S-8", "secsgml_size_bytes": 99465}]
{"company-data": {"conformed-name": "GLOBAL SIGNAL INC", "cik": "0001278382", "assigned-sic": "3663", "irs-number": "650652634", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-116214", "film-number": "04850528"}, "mail-address": {"street1": "301 N CATTLEMEN RD", "street2": "STE 300", "city": "SARASOTA", "state": "FL", "zip": "34232"}}
As
filed with the Securities and Exchange Commission on June 4, 2004
Registration No.
333-
UNITED
STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF
1933
Global Signal Inc.
(Exact name of registrant as specified in its
charter)
Delaware
(State or other jurisdiction of
incorporation or
organization)
65-0652634
(I.R.S.
Employer
Identification
No.)
Suite
300
301 North Cattlemen Road
Sarasota, Florida 34232
(Address of principal executive offices)
GLOBAL
SIGNAL INC. OMNIBUS STOCK INCENTIVE PLAN
(Full title of the
plan)
Stephen W.
Crawford, Esq.
Executive Vice President, General Counsel and
Secretary
Global Signal Inc.
Suite 300
301 North
Cattlemen Road
Sarasota, Florida 34232
(941) 364-8886
(Name and address, including zip code, and telephone number, including
area code, of agent for service)
CALCULATION OF REGISTRATION
FEE
Title
of each class of
securities to be registered
Amount to
be
registered
(1)
Proposed maximum
offering
price
per share
Proposed maximum
aggregate
offering
price
Amount
of
registration
fee
Common
stock, par value $0.01 per
share(2)
3,593,200
$
6.52
(5)
$
23,427,664
$
2,968.29
Common
stock, par value $0.01 per
share(3)
615,000
$
18.00
(6)
$
11,070,000
$
1,402.57
Common
stock, par value $0.01 per
share(4)
2,268,711
$
20.25
(7)
$
45,941,398
$
5,820.78
(1)
Pursuant to Rule 416 under the Securities Act of
1933, as amended, this registration statement also covers additional
shares that may become issuable under the Plan by reason of certain
corporate transactions or events, including any stock dividend, stock
split, recapitalization or any other similar transaction effected
without the receipt of consideration which results in an increase in
the number of the registrant's outstanding shares of common
stock.
(2)
Represents
the number of shares of common stock issuable upon exercise of options
issued as of June 3, 2004 with a weighted average exercise price of
$6.52.
(3)
Represents
the number of shares of common stock issuable upon exercise of options
issued as of June 3, 2004 with a weighted average exercise price of
$18.00.
(4)
Represents
the remaining number of shares of common stock issuable under the
Global Signal Inc. Omnibus Stock Incentive Plan.
(5)
Computed in accordance with
Rule 457(h) under the Securities Act, such computation is based on the
weighted average exercise price of $6.52 per share covering 3,593,200
outstanding options.
(6)
Computed in accordance with
Rule 457(h) under the Securities Act, such computation is based on the
weighted average exercise price of $18.00 per share covering 615,000
outstanding options.
(7)
Computed in accordance with
Rule 457(h) under the Securities Act by averaging the high and low
sales prices of Global Signal Inc common stock as reported by the New
York Stock Exchange on June 3,
2004.
EXPLANATORY
NOTE
This registration statement registers shares of common
stock, par value $0.01 per share (the "Common
Stock"), of Global Signal Inc. (the
"Company") that were issued and sold or may
be issued and sold under the Global Signal Inc. Omnibus Stock Incentive
Plan (the "Plan").
PART I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
Item
1. Plan Information.*
Item 2. Registrant Information and
Employee Plan Annual Information.*
* The documents
containing the information specified in Part I of Form S-8 will be sent
or given to employees as specified by Rule 428(b)(1) of the Securities
Act of 1933, as amended (the "Securities
Act"). Such documents need not be filed with the
Securities and Exchange Commission (the
"SEC") either as part of this registration
statement or as prospectuses or prospectus supplements pursuant to Rule
424 of the Securities Act. These documents and the documents
incorporated by reference in this registration statement pursuant to
Item 3 of Part II of this registration statement, taken together,
constitute a prospectus that meets the requirements of Section 10(a) of
the Securities Act.
PART II
INFORMATION REQUIRED IN
THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents
by Reference.
The following documents previously filed with the
SEC are incorporated by reference in this registration statement:
(a) The Company's prospectus, dated June 2,
2004, filed pursuant to Rule 424(b) under the Securities Act (the
"Prospectus") and that contains audited
consolidated financial statements of Global Signal Inc. and its
subsidiaries for the fiscal year ended December 31, 2003;
(b) All other reports filed pursuant to Section
13(a) or 15(d) of the Securities and Exchange Act of 1934 as amended
(the "Exchange Act") since the end of the
fiscal year covered by the Company's Prospectus; and
(c) The description of the Common Stock contained in
the Registration Statement on Form 8-A dated May 4, 2004 filed with the
SEC by the Company to register such securities under the Exchange Act,
including any amendment or report filed for the purpose of updating
such description.
All documents subsequently filed by the
Company pursuant to Sections  13(a), 13(c), 14 and 15(d) of the
Exchange Act, prior to the filing of a post-effective amendment to this
registration statement which indicates that all securities offered have
been sold or which deregisters all securities then remaining unsold,
shall be deemed to be incorporated by reference in this registration
statement and to be part hereof from the date of filing of such
documents.
Any statement contained in a document incorporated or
deemed to be incorporated by reference in this registration statement
shall be deemed to be modified or superseded for purposes of this
registration statement to the extent that a statement contained in this
registration statement, or in any other subsequently filed document
that also is or is deemed to be incorporated by reference in this
registration statement, modifies or supersedes such prior statement.
Any statement contained in this registration statement shall be deemed
to be modified or superseded to the extent that a statement contained
in a subsequently filed document that is or is deemed to be
incorporated by reference in this registration statement modifies or
supersedes such prior statement. Any statement so modified or
superseded shall not be deemed, except as so modified or superseded, to
constitute a part of this registration statement.
1
Item 4. Description of Securities.
Not applicable.
Item 5. Interests of Named Experts and
Counsel.
The legality of the shares of Common Stock offered
hereby has been passed upon for the Company by Stephen W. Crawford,
Executive Vice President, General Counsel and Secretary of the Company.
As of June 3, 2004, Mr. Crawford beneficially owned options to purchase
102,500 shares of Common Stock.
Item 6. Indemnification of
Directors and Officers.
Section 102 of the Delaware General
Corporation Law, as amended, allows a corporation to eliminate the
personal liability of a director of a corporation to the corporation or
its stockholders for monetary damages for breach of fiduciary duty as a
director, except where the director breached his or her duty of loyalty
to the corporation or its stockholders, failed to act in good faith,
engaged in intentional misconduct or knowingly violated a law,
authorized the payment of a dividend or approved a stock purchase or
redemption in violation of Delaware corporate law or obtained an
improper personal benefit.
Section 145 of the Delaware General
Corporation Law provides, among other things, that a corporation may
indemnify any person who was or is a party or is threatened to be made
a party to any threatened, pending or completed action, suit or
proceeding (other than an action by or in the right of the corporation)
by reason of the fact that the person is or was a director, officer,
employee or agent of the corporation, or is or was serving at the
corporation's request as a director, officer, employee or agent
of another corporation, partnership, joint venture, trust or other
enterprise, against expenses, including attorneys' fees,
judgments, fines and amounts paid in settlement actually and reasonably
incurred by the person in connection with the action, suit or
proceeding. The power to indemnify applies (1) if such person is
successful on the merits or otherwise in defense of any action, suit or
proceeding or (2) if such person acted in good faith and in a manner he
reasonably believed to be in or not opposed to the best interests of
the corporation, and with respect to any criminal action or proceeding,
had no reasonable cause to believe his conduct was unlawful. The power
to indemnify applies to actions brought by or in the right of the
corporation as well, but only to the extent of defense expenses
(including attorneys' fees but excluding amounts paid in
settlement) actually and reasonably incurred and not to any
satisfaction of judgment or settlement of the claim itself, and with
the further limitation that in such actions no indemnification shall be
made in the event of any adjudication of negligence or misconduct in
the performance of his duties to the corporation, unless a court
believes that in light of all the circumstances indemnification should
apply.
Section 174 of the Delaware General Corporation Law
provides, among other things, that a director who willfully and
negligently approves of an unlawful payment of dividends or an unlawful
stock purchase or redemption may be held liable for such actions. A
director who was either absent when the unlawful actions were approved
or dissented at the time, may avoid liability by causing his or her
dissent to such actions to be entered in the books containing the
minutes of the meetings of the board of directors at the time the
action occurred or immediately after the absent director receives
notice of the unlawful acts.
Our amended and restated
certificate of incorporation states that no director shall be liable to
us or any of our stockholders for monetary damages for breach of
fiduciary duty as director, except for breaches of the duty of loyalty,
and for acts or omissions in bad faith or involving intentional
misconduct or knowing violation of law. Directors are also not exempt
from liability for any transaction from which he or she derived an
improper personal benefit, or for violations of Section 174 of the
Delaware Corporation Law. To the maximum extent permitted under Section
145 of the Delaware Corporation Law, our amended and restated
certificate of incorporation authorizes us to indemnify any and all
persons whom we have the power to indemnify under the law.
Our
amended and restated bylaws indemnify, to the fullest extent permitted
by the Delaware Corporation Law, each person who was or is made a party
or is threatened to be made a party in any
2
legal proceeding by reason of the fact that he
or she is or was our director or officer. However, such indemnification
is permitted only if such person acted in good faith, lawfully and not
against our best interests. Indemnification is authorized on a
case-by-case basis by (1) our board of directors by a majority vote of
disinterested directors, (2) by a committee of the disinterested
directors, (3) by independent legal counsel in a written opinion if (1)
and (2) are not available, or if disinterested directors so direct, or
(4) by the stockholders. Indemnification of former directors or
officers shall be determined by any person authorized to act on the
matter on our behalf. Expenses incurred by a director or officer in
defending against such legal proceedings are payable before the final
disposition of the action, provided that the director or officer
undertakes to repay us if later determined that he or she is not
entitled to indemnification.
We have entered into
indemnification agreements (the "Indemnification
Agreements") with certain of our directors and officers
(individually, the "Indemnitee"). The
Indemnification Agreements, among other things, provide for
indemnification to the fullest extent permitted by law and our amended
and restated certificate of incorporation and amended and restated
by-laws against any and all expenses, judgments, fines, penalties and
amounts paid in settlement of any claim. The Indemnification Agreements
provide for the advancement or payment of all expenses to the
Indemnitee and for reimbursement to us if it is found that such
Indemnitee is not entitled to such indemnification under applicable law
and our amended and restated certificate of incorporation and amended
and restated by-laws.
Insofar as indemnification for liabilities
arising under the Securities Act may be permitted to directors,
officers or persons controlling the registrant pursuant to the
foregoing provisions, the registrant has been informed that in the
opinion of the Securities and Exchange Commission such indemnification
is against public policy as expressed in the Securities Act and is
therefore unenforceable.
We maintain directors' and
officers' liability insurance for our officers and directors.
The partnership agreement of Global Signal OP provides that neither
we, as special limited partner, nor Global Signal GP LLC, as managing
general partner, nor any of our directors and officers or the directors
and officers of Global Signal GP is liable to the partnership or to any
of its partners as a result of errors in judgment or mistakes of fact
or law or of any act or omission, if we, Global Signal GP, our director
or our officer or a director or our officer of Global Signal GP act in
good faith.
In addition, the partnership agreement requires our
operating partnership to indemnify and hold us, as special limited
partner, and our directors, officers and any other person we designate,
and Global Signal GP LLC, as managing general partner, and its
directors, officers and any other person it designates from and against
any and all claims arising from operations of the operating partnership
in which any such indemnitee may be involved, or is threatened to be
involved, as a party or otherwise, unless it is established that:
•
indemnitee acted with willful misconduct
or a knowing violation of the law, or
•
the indemnitee actually received an
improper personal benefit in violation or breach of any provision of
the Partnership Agreement,
The partnership agreement provides
that no indemnitee may subject any partner of our operating partnership
to personal liability with respect to the indemnification
obligation.
Item 7. Exemption from Registration Claimed.
Not applicable.
3
Item 8. Exhibits.
Exhibit
No.
Description
4.1
Form
of Certificate for common
stock*
4.2
Amended
and Restated Investor Agreement dated as of March 31, 2004 among
Global
Signal Inc., Fortress Pinnacle Acquisition LLC, Greenhill
Capital Partners, L.P., and its
related partnerships named therein,
and Abrams Capital Partners II, L.P. and certain of
its related
partnerships named therein, and other parties named
therein*
4.3
Warrant
Agreement between Pinnacle Holdings Inc. and Wachovia Bank, N.A.,
dated
November 1,
2002*
4.4
Amended
and Restated Certificate of
Incorporation*
4.5
Certificate
of Amendment of Amended and Restated Certificate of
Incorporation*
4.6
Amended
and Restated
By-Laws*
5.1
Opinion
of Stephen W. Crawford, Executive Vice President, General Counsel and
Secretary of Global Signal
Inc.
23.1
Consent
of Ernst & Young
LLP
23.2
Consent
of Stephen W. Crawford (included in Exhibit
5.1)
24.1
Power
of Attorney (included on signature
page)
99.1
Global
Signal Inc. Omnibus Stock Incentive
Plan*
*
Incorporated
by reference to the Company's Registration Statement on Form
S-11, as amended (Registration No. 333-112839), filed with the
SEC.
Item 9. Undertakings.
(a) The undersigned
registrant hereby undertakes:
(1) To file,
during any period in which offers or sales are being made, a
post-effective amendment to this registration statement:
(i) To include any prospectus required by section
10(a)(3) of the Securities Act of 1933;
(ii) To
reflect in the prospectus any facts or events arising after the
effective date of the registration statement (or the most recent
post-effective amendment thereof) which, individually or in the
aggregate, represent a fundamental change in the information set forth
in the registration statement. Notwithstanding the foregoing, any
increase or decrease in volume of securities offered (if the total
dollar value of securities offered would not exceed that which was
registered) and any deviation from the low or high end of the estimated
maximum offering range may be reflected in the form of prospectus filed
with the Commission pursuant to Rule 424(b) if, in the aggregate, the
changes in volume and price represent no more than a 20% change
in the maximum aggregate offering price set forth in the
"Calculation of Registration Fee" table in
the effective registration statement;
(iii) To
include any material information with respect to the plan of
distribution not previously disclosed in the registration statement or
any material change to such information in the registration
statement;
provided, however, that paragraphs
(a)(1)(i) and (a)(1)(ii) of this section do not apply if the
information required to be included in a post-effective amendment by
those paragraphs is contained in periodic reports filed with or
furnished to the Commission by the registrant pursuant to section 13 or
section 15(d) of the Securities Exchange Act of 1934 that are
incorporated by reference in the registration statement.
(2) That, for the purpose of determining any
liability under the Securities Act of 1933, each such post-effective
amendment shall be deemed to be a new registration statement relating
to the securities offered therein, and the offering of such securities
at that time shall be deemed to be the initial bona fide offering
thereof.
4
(3) To remove from
registration by means of a post-effective amendment any of the
securities being registered which remain unsold at the termination of
the offering.
(b) The undersigned registrant hereby undertakes
that, for purposes of determining any liability under the Securities
Act of 1933, each filing of the registrant's annual report
pursuant to section 13(a) or section 15(d) of the Securities Exchange
Act of 1934 (and, where applicable, each filing of an employee benefit
plan's annual report pursuant to section 15(d) of the Securities
Exchange Act of 1934) that is incorporated by reference in the
registration statement shall be deemed to be a new registration
statement relating to the securities offered therein, and the offering
of such securities at that time shall be deemed to be the initial bona
fide offering thereof.
(c) Insofar as indemnification for
liabilities arising under the Securities Act of 1933 may be permitted
to directors, officers and controlling persons of the registrant
pursuant to the foregoing provisions, or otherwise, the registrant has
been advised that in the opinion of the Securities and Exchange
Commission such indemnification is against public policy as expressed
in the Act and is, therefore, unenforceable. In the event that a claim
for indemnification against such liabilities (other than the payment by
the registrant of expenses incurred or paid by a director, officer or
controlling person of the registrant in the successful defense of any
action, suit or proceeding) is asserted by such director, officer or
controlling person in connection with the securities being registered,
the registrant will, unless in the opinion of its counsel the matter
has been settled by controlling precedent, submit to a court of
appropriate jurisdiction the question whether such indemnification by
it is against public policy as expressed in the Act and will be
governed by the final adjudication of such
issue.
5
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the
registrant certifies that it has reasonable grounds to believe that it
meets all of the requirements for filing on Form S-8 and has duly
caused this registration statement to be signed on its behalf by the
undersigned, thereunto duly authorized, in City of Sarasota, State of
Florida, on June 4, 2004.
GLOBAL SIGNAL
INC.
By:
/s/ Wesley R.
Edens
Name: Wesley R. Edens
Title: Chief
Executive Officer
POWER OF ATTORNEY
Each of the
undersigned officers and directors of Global Signal Inc., a Delaware
corporation, hereby constitutes and appoints Wesley R. Edens, David J.
Grain and William T. Freeman and each of them, severally, as his or her
attorney-in-fact and agent, with full power of substitution and
resubstitution, in his or her name and on his or her behalf, to sign in
any and all capacities this Registration Statement and any and all
amendments (including post-effective amendments) and exhibits to this
Registration Statement and any and all applications and other documents
relating thereto, with the Securities and Exchange Commission, with
full power and authority to perform and do any and all acts and things
whatsoever which any such attorney or substitute may deem necessary or
advisable to be performed or done in connection with any or all of the
above-described matters, as fully as each of the undersigned could do
if personally present and acting, hereby ratifying and approving all
acts of any such attorney or substitute.
Pursuant to the
requirements of the Securities Act of 1933, this registration statement
has been signed by the following persons in the capacities and on the
date indicated.
Signature
Title
Date
/s/
Wesley R. Edens
Chief
Executive Officer and Chairman of the Board (Principal executive
officer)
June 4, 2004
Wesley R. Edens
/s/ David
J. Grain
President
June 4,
2004
David J.
Grain
/s/ William T.
Freeman
Executive
Vice President, Chief Financial Officer and Assistant Secretary
(Principal financial officer)
June 4,
2004
William T. Freeman
/s/ Camille Blommer
Controller (Principal accounting
officer)
June 4, 2004
Camille
Blommer
/s/ David
Abrams
Director
June 4,
2004
David
Abrams
/s/ Robert H.
Niehaus
Director
June 4,
2004
Robert H.
Niehaus
/s/ Robert H. Gidel
Director
June 4,
2004
Robert
H. Gidel
6
Signature
Title
Date
/s/ Howard
Rubin
Director
June 4,
2004
Howard
Rubin
/s/ Mark Whiting
Director
June 4,
2004
Mark
Whiting
/s/ Douglas L.
Jacobs
Director
June 4,
2004
Douglas L.
Jacobs
7
EXHIBIT
INDEX
Exhibit
No.
Description
4.1
Form
of Certificate for common
stock*
4.2
Amended and Restated
Investor Agreement dated as of March 31, 2004 among Global Signal Inc.,
Fortress Pinnacle Acquisition LLC, Greenhill Capital Partners, L.P.,
and its related partnerships named therein, and Abrams Capital Partners
II, L.P. and certain of its related partnerships named therein, and
other parties named
therein*
4.3
Warrant Agreement
between Pinnacle Holdings Inc. and Wachovia Bank, N.A., dated November
1, 2002*
4.4
Amended and Restated
Certificate of
Incorporation*
4.5
Certificate of
Amendment of Amended and Restated Certificate of
Incorporation*
4.6
Amended and
Restated
By-Laws*
5.1
Opinion
of Stephen W. Crawford, Executive Vice President, General Counsel and
Secretary of Global Signal
Inc.
23.1
Consent of Ernst
& Young LLP
23.2
Consent
of Stephen W. Crawford (included in Exhibit
5.1)
24.1
Power of Attorney
(included on signature
page)
99.1
Global Signal
Inc. Omnibus Stock Incentive
Plan*
*
Incorporated by reference to
the Company's Registration Statement on Form S-11, as amended
(Registration No. 333-112839), filed with the
SEC.
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