<PAGE>   1

                                                                    EXHIBIT 99.1

                  TELIGENT REPORTS $152 MILLION IN 2000 REVENUE

       RECORDS NEARLY 400 PERCENT GROWTH IN SECOND FULL YEAR OF OPERATIONS

VIENNA, VA, February 28, 2001 - Teligent, a global leader in broadband
communications, today reported revenue of $152 million for 2000 and $54 million
for the quarter ending December 31, posting tremendous growth in its second full
year of operations.

Year-end 2000 revenue was up nearly 400 percent from the $31 million in revenue
posted for 1999. Fourth quarter 2000 revenue increased more than 200 percent
from the $15.5 million reported for the fourth quarter of 1999, and was up 27
percent, or $11.4 million, versus last quarter's $43 million.

"Teligent's fourth quarter results capped an astounding 12 months of growth for
the company," said Chairman and Chief Executive Officer Alex J. Mandl. "We grew
our revenue, expanded our footprint of on-net buildings, increased our customer
base, and strengthened our international presence, positioning ourselves
aggressively for 2001 and beyond."

In addition, the company is taking steps towards securing a new funding package.
"Teligent is making significant progress toward completing this new round of
financing which I anticipate will involve a mix of equity, debt and vendor
funding," Mandl said.

Teligent achieved broad success with regard to building, customer and lines
growth in the year 2000. "Teligent now has the broad footprint, and the systems,
processes and the people needed to execute on our on-net strategy, deepen
penetration into our network, and grow our revenue rapidly and efficiently,"
Mandl said.

In the fourth quarter, Teligent made important strides toward driving more
traffic onto its own network, and increasing the numbers of on-net buildings and
local lines. Teligent's total number of on-net buildings at the end of 2000 was
4,469. More than 60 percent of the 4,469 buildings are equipped with fixed
wireless, up 154 percent from the end of 1999. And 90 percent of the 327 on-net
buildings Teligent added during the fourth quarter were equipped with fixed
wireless.

Teligent expanded its nodal coverage to 294 locations at the end of 2000, more
than double the number at the end of 1999.

As of December 31, 2000, Teligent's customer base had grown to more than 35,500
customers, more than double the 15,000 customers installed at the end of 1999.
Local customers increased more than 150 percent and data customers more than
tripled during 2000.

The company installed over 66,000 lines during the fourth quarter of 2000,
ending the year with 490,318 lines in service inclusive of any adjustments,
disconnects and acquisitions made during the year. The number of lines installed
grew more than 45 percent year-over-year. Total local


<PAGE>   2

lines installed during the fourth quarter were 34,283, bringing the total number
of local lines to 137,617. Year-over-year, Teligent recorded more than 300
percent gains in total local lines installed.

Teligent's growth in 2000 solidified its position as an industry leader in
delivering high-speed, competitively priced communications services to
businesses of all sizes - on both the domestic and international fronts.

Internationally, Teligent leveraged its joint venture partnerships to
aggressively build its European, Asian and Latin American presence. New spectrum
awards in Germany and France improved Teligent's overseas coverage to 180
million POPs.

During the fourth quarter, ArcTel, Teligent's joint venture with Mannesman Arcor
in Germany, was awarded 8 additional regional licenses covering major German
business centers such as Berlin, Hamburg and Frankfurt. ArcTel recently turned
up its first customer in Frankfurt and, by the end of 2000, had fixed wireless
links up and running in 50 markets throughout Germany. In the fourth quarter,
ArcTel secured over $30 million of equipment financing from Vodafone Group, and
will continue its expansive build out in the coming year.

In Spain, Teligent's joint venture with Jazztel, Banda 26, turned up its first
broadband customers, while entering into an equipment agreement with Ericsson
for the build out of its countrywide network.

Teligent's joint venture with Louis Dreyfuss and Artemis in France was awarded
three additional regional licenses in 2000. In Argentina, Teligent, along with
P-Com, continues to execute its initial build out in Buenos Aires, Cordoba,
Rosario, and Mendoza.

For the year ending December 31, 2000, Teligent reported a net loss of $808
million and negative EBITDA of $436 million, compared to a net loss of $529
million and negative EBITDA of $382 million for 1999. The net loss for the
fourth quarter was $260 million, compared to a net loss of $154 million in the
fourth quarter of 1999. EBITDA for the quarter was negative $119 million,
compared to negative $92 million last quarter.

Teligent's fourth quarter results include a one-time restructuring charge of
$14.5 million, and a non-cash asset charge of $20.1 million.

Teligent reported $285 million in capital expenditures in 2000, up from $261
million in 1999. Capital expenditures for the fourth quarter were $67 million,
compared to $43 million last quarter and down from $124 million in the fourth
quarter of 1999.

As of December 31, Teligent reported gross property, plant and equipment of $724
million and cash and short-term investments of $362 million, following the
December draw-down of the remaining $250 million from the company's credit
facility.

Teligent's employee base ended the year at 2,729 employees.


<PAGE>   3

                       ABOUT TELIGENT'S BROADBAND NETWORKS

Teligent's local communications networks integrate the latest advances in
high-frequency microwave technology with traditional broadband wireline
equipment. Together these technologies enable Teligent to increase its local
network efficiency and significantly lower network costs.

Teligent delivers fixed wireless services by installing small antennas on the
roofs of customer buildings. When a customer makes a telephone call or accesses
the Internet, the voice, data or video signals travel over the building's
internal wiring to the rooftop antenna. These signals are then digitized and
transmitted to a "base station" antenna on another building, usually less than
three miles away.

Each base station antenna gathers signals from a cluster of surrounding customer
buildings, aggregates the signals and then routes them to a broadband switching
center. At the switching center, ATM (Asynchronous Transfer Mode) switches and
data routers distribute the traffic to other networks, such as public
circuit-switched voice networks, packet-switched Internet and private data
networks.

                                 ABOUT TELIGENT

Based in Vienna, Virginia, Teligent, Inc. (NASDAQ: TGNT) is a global leader in
broadband communications offering business customers local, long distance,
high-speed data and dedicated Internet services over its digital SmartWave(TM)
local networks in major markets throughout the United States. The company is
working with international partners to extend its reach into Europe, Asia and
Latin America. Teligent's offerings of regulated services are subject to all
applicable regulatory and tariff approvals.

For more information, visit the Teligent website at: www.teligent.com

Teligent is a registered trademark of Teligent, Inc. SmartWave is an exclusive
trademark of Teligent, Inc.

Except for any historical information, the matters discussed in this press
release contain forward-looking statements that reflect the company's current
views regarding future events. These forward-looking statements involve risks
and uncertainties that could affect the company's growth, operations, markets,
products and services. The company cannot be sure that any of its expectations
will be realized. Factors that may cause actual results, performance or
achievement to differ materially from those contemplated by its forward looking
statements include, without limitation: 1) The success of the company in
obtaining additional capital, including the satisfaction of stock price and
trading volume conditions to draw down under the agreement with RGC
International Investors, LDC; 2) The volatility of the market, including changes
in the valuations of other telecommunications and fixed wireless
telecommunications companies; 3) The ability of the company to successfully
implement the new on-net strategy; 4) The negotiation and execution of the
definitive agreements with respect to the company's international partnerships;
5) The receipt of all required approvals and consents from governmental
authorities; 6) The success of the company and its partners in obtaining
spectrum licenses in new markets; 7) The company's pace of entry into new
markets; 8) The time and expense required to build the company's planned network
and ISP infrastructure; 9) The impact of changes in telecommunications laws and
regulations; 10) General economic and competitive conditions; 11) Technological
developments; and 12) Other factors discussed in the company's filings with the
Securities and Exchange Commission.


                                      # # #
<PAGE>   4



                                 TELIGENT, INC.
                      CONSOLIDATED STATEMENTS OF OPERATIONS
(AMOUNTS IN THOUSANDS, EXCEPT PER SHARE, SHARE AMOUNTS, AND NUMBER OF EMPLOYEES)

<TABLE>
<CAPTION>
                                                          THREE  MONTHS ENDED                      TWELVE MONTHS ENDED
                                                          -------------------                      -------------------

                                                DECEMBER 31, 2000  DECEMBER 31, 1999 (1)  DECEMBER 31, 2000  DECEMBER 31, 1999 (1)
                                                -----------------  ---------------------  -----------------  ---------------------

<S>                                             <C>                <C>                    <C>                <C>
REVENUES:
Communications services                         $         54,075   $        15,499        $         152,072  $          31,304

COSTS AND EXPENSES:
Cost of services                                          99,670            72,721                  325,119            207,538
Sales, general and administrative expenses                73,542            53,253                  262,806            205,589
Restructuring and asset impairment                        34,585               -                     34,585                -
Stock-based and other noncash compensation                 5,836             7,820                   28,377             31,451
Depreciation and amortization expense                     64,675            15,439                  133,544             45,742
                                                ----------------   ---------------        -----------------  -----------------
       Total costs and expenses                          278,308           149,233                  784,431            490,320
                                                ----------------   ---------------        -----------------  -----------------

LOSS FROM OPERATIONS                                    (224,233)         (133,734)                (632,359)          (459,016)

Interest income                                            4,841             4,467                   25,052             18,933
Interest expense                                         (34,600)          (24,424)                (133,286)           (88,347)
Equity in loss of international ventures                  (4,977)              -                     (6,605)               -
Other income & expense                                    (1,032)                3                  (60,788)              (483)
                                                ----------------   ---------------        -----------------  -----------------

NET LOSS                                                (260,001)         (153,688)                (807,986)          (528,913)
                                                ----------------   ---------------        -----------------  -----------------

Accrued preferred stock dividends
   and accretion of issuance costs                       (10,724)           (2,906)                 (41,870)            (2,906)
                                                ----------------   ---------------        -----------------  -----------------

NET LOSS APPLICABLE TO
   COMMON SHAREHOLDERS                          $       (270,725)  $      (156,594)       $        (849,856) $        (531,819)
                                                ================   ===============        =================  =================

BASIC AND DILUTED NET LOSS PER
   COMMON SHARE                                 $          (4.25)  $         (2.89)       $          (14.19) $           (9.95)
                                                ================   ===============        =================  =================


WEIGHTED AVERAGE COMMON SHARES
  OUTSTANDING                                         63,683,692        54,253,722               59,897,416         53,422,806
</TABLE>


<TABLE>
<CAPTION>
SELECTED FINANCIAL AND OTHER DATA:
                                            THREE MONTHS ENDED                           TWELVE MONTHS ENDED
                                  -----------------------------------------    ----------------------------------------

                                  DECEMBER 31, 2000   DECEMBER 31, 1999 (1)    DECEMBER 31, 2000  DECEMBER 31, 1999 (1)
                                  -----------------   ---------------------    -----------------  ---------------------

<S>                               <C>                 <C>                      <C>                <C>
EBITDA (2)                        $        (119,137)  $      (110,475)         $        (435,853) $      (381,823)
Cash used in operations                    (124,755)          (45,530)                  (669,116)        (313,379)
Total capital expenditures                   66,693           124,278                    284,778          261,427

                                  DECEMBER 31, 2000   DECEMBER 31, 1999 (1)
                                  -----------------   ---------------------
Cash, short-term investments
  & restricted cash               $         362,565   $       595,127
Total assets                              1,209,476         1,131,843
Total stockholders' deficit                (960,585)         (441,917)

Number of employees                           2,729             2,822
</TABLE>

(1) Certain amounts in prior year financial statements have been reclassified to
    conform to the current period's presentation.

(2) EBITDA (earnings before interest, taxes, depreciation and amortization)
    excludes charges for restructuring, asset impairment, and stock-based and
    other noncash compensation