X0303 4 2008-06-30 0001010286 FiberTower CORP FTWR 0001127939 ASPEN ADVISORS LLC 152 WEST 57TH STREET 39TH FLOOR NEW YORK NY 10019 0 0 1 0 0001237622 ASPEN PARTNERS SERIES A C/O ASPEN ADVISORS LLC 152 WEST 57TH STREET NEW YORK NY 10019 0 0 1 0 0001237613 ASPEN CAPITAL LLC C/O ASPEN ADVISORS LLC 152 WEST 57TH STREET NEW YORK NY 10019 0 0 1 0 0001237606 HECHT NIKOS C/O ASPEN ADVISORS LLC 152 WEST 57TH STREET NEW YORK NY 10019 0 0 1 0 Common Stock 2008-06-30 4 J 0 58985 0 D 21871674 I Through a partnership and managed accounts This Form 4 is filed to reflect the distribution by the Reporting Persons, on June 30, 2008, of 58,985 shares of the Issuer from a private institutional account managed by Aspen Advisors LLC, a Delaware limited liability company (the "Advisor") to the private institution with title to such account. Of the 21,871,674 shares reported in Table I, Aspen Partners Series A, a series of Aspen Capital Partners LP, a Delaware limited partnership (the "Partnership") owns 12,146,266 shares and private institutional accounts (the "Managed Accounts") managed by the Advisor own 9,725,408 shares. Aspen Capital LLC, a Delaware limited liability company (the "General Partner") is the general partner of the Partnership. The Partnership and the General Partner disclaim any beneficial interest in the securities owned by the Managed Accounts, and the General Partner disclaims any beneficial interest in the securities owned by the Partnership in excess of a 8.28% pecuniary interest therein, calculated in accordance with Rules 16a-1(a)(2) and (a)(3) under the Exchange Act. See also Note (3). The Advisor disclaims any beneficial interest in the securities owned by the Partnership and the Managed Accounts. Mr. Nikos Hecht is the managing member of the General Partner and of the Advisor. By virtue of such status he may be deemed the beneficial owner of the securities held by the Partnership and the Managed Accounts under Regulation 13D-G under the Exchange Act. Mr. Hecht disclaims any beneficial interest in the securities owned by the Partnership other than a 4.90% pecuniary interest in such shares, calculated in accordance with Rule 16(a)-1(a)(2) and (a)(3). He disclaims any beneficial interest in the securities owned by the Managed Accounts. Except as expressly acknowledged herein, this report shall not be deemed an admission that any such person or entity is the beneficial owner of, or has a pecuniary interest in, any such securities for purposes of Section 16 of the Exchange Act or for any other purpose. ASPEN ADVISORS LLC. By: /s/ NIKOS HECHT, Managing Member 2008-07-29 ASPEN PARTNERS SERIES A, a series of Aspen Capital Partners, LP By: Aspen Capital LLC, General Partner By: /s/ NIKOS HECHT, Managing Member 2008-07-29 ASPEN CAPITAL, LLC By: /s/ NIKOS HECHT, Managing Member 2008-07-29 /s/ NIKOS HECHT 2008-07-29