OKLAHOMA CITY, Oct. 26, 2004 (PRIMEZONE) -- Dobson Cellular Systems, Inc., a wholly owned subsidiary of Dobson Communications Corporation (Nasdaq:DCEL), today announced that it is considering increasing the size of its previously announced private offering of $700 million aggregate principal amount of its Senior Secured Notes due 2011 and Senior Secured Notes due 2012, to up to $825 million aggregate principal amount. Any such increase would be effected by means of an increase in the aggregate principal amount of Senior Secured Notes due 2012 above the $200 million level previously announced, with the aggregate principal amount of Senior Secured Notes due 2011 remaining unchanged at $500 million. The additional proceeds of up to $125 million aggregate principal amount would be used by Dobson Communications Corporation for the repurchase of outstanding indebtedness of Dobson Communications Corporation in one or more privately negotiated repurchases. The indebtedness to be repurchased would be expected to include a portion of Dobson Communications Corporation's outstanding 10-7/8% Notes due 2010 and/or its 8-7/8% Notes due 2013.
The Senior Secured Notes due 2011 and 2012 will be offered only to qualified institutional buyers under Rule 144A and to persons outside the United States under Regulation S. The notes have not been registered under the Securities Act of 1933 or under any state securities laws, and, unless so registered, may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, registration requirements of the Securities Act and applicable state securities laws. This press release does not constitute an offer, offer to sell, or solicitation of an offer to buy any securities.
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These include, but are not limited to, statements regarding the Company's plans, intentions and expectations. Such statements are inherently subject to a variety of risks and uncertainties that could cause actual results to differ materially from those projected. These risks include, but are not limited to restrictions on the Company's ability to complete the proposed debt offerings and other factors. A more extensive discussion of the risk factors that could impact these areas and the Company's overall business and financial performance can be found in the Company's reports and other filings filed with the Securities and Exchange Commission. Given these concerns, investors and analysts should not place undue reliance on forward-looking statements.