OKLAHOMA CITY, July 5, 2005 (PRIMEZONE) -- Dobson Communications Corporation (Nasdaq:DCEL) today announced that it successfully completed and closed the 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. ("Dobson Cellular") on November 8, 2004 in a private placement pursuant to Rule 144A and Regulation S under the Securities Act of 1933 (the "Securities Act") 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. As of 5:00 p.m., New York City time, on Friday, July 1, 2005, Dobson Cellular had received tenders of approximately 99.6 percent of the 8 3/8% First Priority Senior Secured Notes due 2011, representing $249 million of the outstanding aggregate principal amount of $250 million of notes; 100 percent of the outstanding aggregate principal amount of $250 million of First Priority Senior Secured Floating Rate Notes due 2011; and 100 percent of the outstanding aggregate principal amount of $325 million of 9 7/8% Second Priority Senior Secured Notes due 2012. The Offer was made pursuant to a prospectus, dated May 31, 2005, that is part of a Registration Statement filed with the Securities and Exchange Commission, which was declared effective on May 31, 2005.
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.