OKLAHOMA CITY and REDMOND, Wash., Dec. 26, 2002 (PRIMEZONE) -- Dobson Communications Corporation (OTCBB:DCEL) and AT&T Wireless Services, Inc. (NYSE:AWE) announced today that the companies have signed a definitive agreement to exchange certain wireless properties. According to the agreement, Dobson will exchange its two remaining wireless properties in California for two AT&T Wireless properties in Alaska. In addition, AT&T Wireless will transfer to Dobson all of the Dobson Series AA preferred stock that it currently holds. The transaction remains subject to federal regulatory approvals and certain other conditions. This agreement concerns the same properties involved in the announcement made in October 2002.
Under the agreement, AT&T Wireless will transfer to Dobson the Anchorage, Alaska Metropolitan Service Area (MSA) and Alaska Rural Service Area (RSA) 2 markets. The Anchorage MSA includes a population of approximately 262,100, all of which is covered by the AT&T Wireless network in that market. The AT&T Wireless network in Alaska RSA extends primarily north, northeast and south of Anchorage and covers almost 98 percent of the RSA's total population of approximately 168,300. The covered area includes the cities of Wasilla, Palmer and Glenallen to the north of Anchorage, and Valdez, Homer and Seward to the south. Dobson already owns Alaska RSA 1, which includes the city of Fairbanks, and Alaska RSA 3, which includes the city of Juneau.
The agreement calls for Dobson to transfer to AT&T Wireless the Santa Cruz, California MSA and California RSA 4 markets. The Santa Cruz MSA covers a population of approximately 255,600, and California RSA 4 includes a population of approximately 386,900. California RSA 4 covers the counties of Madera, Merced and San Benito; the cities of Madera, Merced, Hollister and Los Banos; and a portion of Interstate 5.
AT&T Wireless would also transfer to Dobson its Dobson Series AA preferred stock, which AT&T Wireless purchased in February 2001. Upon receipt of the Series AA preferred stock, Dobson plans to cancel that issue.
About AT&T Wireless
AT&T Wireless (NYSE:AWE) is the largest independently traded wireless carrier in the United States, following our split from AT&T on July 9, 2001. AT&T Wireless now operates the largest GSM/GPRS network in the Western Hemisphere. With 20.2 million subscribers, and full-year 2001 revenues exceeding $13.6 billion, AT&T Wireless will continue delivering advanced high-quality mobile wireless communications services, voice or data, to businesses and consumers, in the U.S. and internationally. For more information, please visit us at www.attwireless.com.
About Dobson Communications
Dobson Communications is a leading provider of wireless 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.