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DOBSON COMMUNICATIONS TO ACQUIRE CELLULAR
PROPERTY IN NORTHERN GEORGIA
OKLAHOMA CITY, July 31, 2000--Dobson Communications Corporation
(Nasdaq: DCEL) announced today that it has entered into a definitive
agreement to acquire the FCC cellular license and certain assets related to
the Georgia 1 Rural Service Area (RSA) for approximately $65.0 million,
subject to adjustment. Approximately 30 percent of the purchase price will be
paid in Dobson common stock, with the remainder paid in cash. Completion of
the transaction is subject to customary closing conditions and approvals by
regulatory agencies. Dobson expects to complete the acquisition by the end of
the year.
The Georgia 1 RSA covers eight counties in north central Georgia,
including much of the Interstate 75 roaming corridor that links state capital
Atlanta to Chattanooga, Tennessee. Also included in the market are Dalton,
Georgia, one of the nation's leading manufacturing centers for carpet and
textiles, and several popular recreational areas in the Blue Ridge Mountains,
including the Chattahoochee National Forest.
The Georgia 1 RSA has a total population base of approximately 237,000.
"In Georgia 1, we are acquiring a marketing with excellent growth
potential and a very strong CDMA network," said Ed Evans, president and
chief operating officer. "The region has excellent potential for both roaming
revenue growth and subscriber growth as we bring the network up to 100
percent digital capability."
Dobson's nearest managed markets are the Tennessee 4 RSA and the
Kentucky 4, 5, 6 and 8 RSAs that are owned by the American Cellular joint
venture, which Dobson and AT&T Wireless (NYSE: AWE) acquired earlier this
year.
Dobson Communications is a leading provider of cellular phone services
to rural markets in the United States. Headquartered in Oklahoma City, the
Company owns or manages wireless operations in 18 states, covering a total
population of 8.6 million. For additional information on the Company and its
operations, please visit its web site at WWW.DOBSON.NET.
This press release contains forward-looking statements that are based
upon assumptions that in the future may prove not to have been accurate.
Those statements and the Company's business and prospects are subject to a
number of risks, including, but not limited to, substantial capital
expenditures required to fund its acquisitions, the inability to secure
adequate financing to fund the Company's continued growth, competition,
government regulation and the ability of the Company to implement and
continue its business strategy. These and other risks are described in the
Company's documents and reports, which are available from the Securities and
Exchange Commission.
CONTACT: J. Warren Henry
Vice President, Investor Relations
(405) 529-8820
