OKLAHOMA CITY, June 1, 2005 (PRIMEZONE) -- Dobson Communications Corporation (Nasdaq:DCEL) today announced that it had commenced an offer to exchange (the "Offer") up to $250 million principal amount of the 8 3/8% First Priority Senior Secured Notes due 2011, $250 million principal amount of the First Priority Senior Secured Floating Rate Notes due 2011 and $325 million principal amount of the 9 7/8% Second Priority Senior Secured Notes due 2012 that were issued by its subsidiary Dobson Cellular Systems, Inc. on November 8, 2004, in a private placement pursuant to Rule 144A and Regulation S under the Securities Act of 1933 (the "old notes") for like principal amounts of 8 3/8% First Priority Senior Secured Notes due 2011, First Priority Senior Secured Floating Rate Notes due 2011 and 9 7/8% Second Priority Senior Secured Notes due 2012 that have been registered under the Securities Act (the "new notes"). The new notes will be issued as additional notes of the same series under the same indentures as the old notes.
The Offer will expire at 12:00 midnight, Eastern Time, on June 28, 2005, unless extended. The Offer is subject to certain customary conditions. However, the Offer will not be subject to a minimum tender condition.
The Offer is being made pursuant to a prospectus that is part of a Registration Statement filed with the Securities and Exchange Commission, which was declared effective on May 31, 2005. Copies of the prospectus and letter of transmittal may be obtained from the Exchange Agent for the Offer, BNY Midwest Trust Company, (212) 815-3687.
This press release shall not constitute an offer to sell or the solicitation of an offer to purchase, nor shall there be any sales of these securities in any State in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State.
Dobson Communications is a leading provider of wireless phone services to rural markets in the United States. Headquartered in Oklahoma City, the Company owns wireless operations in 16 states. For additional information on the Company and its operations, please visit its Web site at www.dobson.net.