Dobson Communications Announces Preferred Stock Dividend

Oklahoma City, Oklahoma, UNITED STATES

OKLAHOMA CITY, Oct. 4, 2000 (PRIMEZONE) -- Dobson Communications Corporation (Nasdaq:DCEL) today declared an in-kind dividend on its outstanding 13% Senior Exchangeable Preferred Stock. The dividend will be payable on November 1, 2000 to holders of record at the close of business on October 15, 2000.

Holders of shares of 13% Senior Exchangeable Preferred Stock will receive 0.03322 additional shares of 13% Senior Exchangeable Preferred Stock for each share held on the record date. The dividend covers the period August 1, 2000 through October 31, 2000. The dividends have an annual rate of 13% 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


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