OKLAHOMA CITY, May 2, 2002 (PRIMEZONE) -- Dobson Communications Corporation (Nasdaq:DCEL) today announced that the Federal Communications Commission has refunded to DCC PCS, Inc., a Dobson subsidiary, approximately $91.2 million of the subsidiary's approximately $109 million in payments related to its participation in FCC Auction No. 35 last year. DCC PCS was the high bidder on 14 licenses in the auction, but the licenses have not been awarded.
As a result of the partial refund, Dobson's current availability of unrestricted cash is now approximately $230 million. Additional asset and liability balances will be announced when the Dobson reports its first quarter operating results the evening of May 8, 2002.
Dobson Communications is a leading provider of cellular phone services to rural markets in the United States. Headquartered in Oklahoma City, the Company owns or manages wireless operations in 17 states. For additional information on the Company and its operations, please visit its web site at www.dobson.net.