Dobson Communications Announces Preferred Stock Dividend

Oklahoma City, Oklahoma, UNITED STATES


OKLAHOMA CITY, Sept. 29, 2000 (PRIMEZONE) -- Dobson Communications Corporation (Nasdaq:DCEL) today declared an in-kind dividend on its outstanding 12 1/4% Senior Exchangeable Preferred Stock. The dividend will be payable on October 15, 2000 to holders of record at the close of business on October 1, 2000.

Holders of shares of 12 1/4% Senior Exchangeable Preferred Stock will receive 0.03130 additional shares of 12 1/4% Senior Exchangeable Preferred Stock for each share held on the record date. The dividend covers the period July 15, 2000 through October 14, 2000. The dividends have an annual rate of 12 1/4% on the $1,000 per share liquidation preference value of the preferred stock.

Dobson Communications is a leading provider of cellular phone services to rural markets in the United States. Headquartered in Oklahoma City, the rapidly growing Company owns or manages wireless operations in 18 states. For the year ended December 31, 1999, Dobson reported total revenues of $359.3 million; EBITDA of $137.9 million; and a net loss of $127.6 million, which included a loss from discontinued operations and extraordinary expense.

For additional information on the Company and its operations, please visit its web site at www.dobson.net.



        

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