OKLAHOMA CITY, March 4, 2001 (PRIMEZONE) -- Dobson Communications Corporation (Nasdaq:DCEL) today announced that accelerating demand for digital services resulted in record growth in the quarter ended December 31, 2000.

Total revenues of $144.2 million were 52 percent higher than the fourth quarter last year, and EBITDA of $45.3 million was 38 percent higher than the same quarter of 1999.

These revenue and EBITDA totals do not reflect Dobson's 50 percent joint venture ownership in American Cellular Corporation, which Dobson and AT&T Wireless (NYSE:AWE) acquired in the first quarter of 2000 and which Dobson accounts for on an equity basis ("Loss in investment in joint venture," Table 1). EBITDA represents earnings before interest, taxes, depreciation, amortization, equity in unconsolidated subsidiaries, loss from discontinued operations and extraordinary items.

Dobson's fourth quarter net loss applicable to common shareholders was $66.2 million, or $0.71 per share, based on 93.8 million average shares. The net loss included paid-in-kind preferred stock dividends of $17.6 million and a loss related to American Cellular of $19.2 million.

In the fourth quarter last year, the net loss applicable to common shareholders was $57.6 million, or $1.05 per share, based on an average 54.8 million shares. The Company paid preferred stock dividends of $19.0 million and had a loss from discontinued operations of $24.7 million.

Proportionate Pro Forma Results

Proportionate pro forma results for the quarter reflect more clearly the increasingly rapid shift of Dobson's subscriber base to digital customers (Table 3). Proportionate pro forma results fully reflect Dobson's results and 50 percent of American Cellular's results.

On this basis, total revenues for the fourth quarter were $194.9 million, an increase of 23 percent over the same period last year. Roaming revenues for the quarter were $78.7 million, a 26 percent increase over the final three months of 1999. Roaming minutes-of-use (MOUs) were 60 percent higher for the quarter.

EBITDA for the fourth quarter was $64.2 million, compared with $63.0 million for the fourth quarter last year, on a proportionate pro forma basis.

Fourth quarter gross subscriber additions (post-paid) were approximately 109,800, a gain of 23 percent over gross adds for the same period last year. Eighty-five percent of new additions subscribed to a digital calling plan in the quarter, compared with 78 percent in the immediately previous quarter.

In addition, approximately 53,000 analog customers migrated to digital calling plans during the fourth quarter, a record level since Dobson began offering digital service. Dobson launched a promotion early in the period, offering an entry-level digital phone to analog customers who upgraded with a new one- or two-year contract. Approximately $3.7 million in incremental equipment costs during the quarter were due to the unusually high level of migrations.

"I'm particularly pleased with the growth in EBITDA during a quarter in which we had record gross subscriber growth and record migrations to digital calling plans, as well as turning on a record number of cell sites," said Everett R. Dobson, chairman and chief executive officer. "The demand for digital continued very strong in early 2001. We remain confident in the Company's growth outlook for this year and beyond."

Fourth quarter post-paid customer churn was 2.01 percent, considerably improved over churn of 2.18 percent for the immediately previous quarter and flat with churn for the last quarter of 1999. Consequently, the Company generated record net subscriber additions in the fourth quarter, reporting approximately 60,700, an increase of 31 percent over the same period last year.

In the final period of the year, Dobson added 131,400 net digital customers to its customer base, compared with 93,300 digital net adds in the immediately previous quarter. This reflected strong gross adds, low churn and record migrations to digital calling plans. At the end of the fourth quarter, 43 percent of subscribers were digital, compared with 32 percent just three months earlier.

Average revenue per unit (ARPU) was also very strong. Fourth quarter ARPU of $40 was equal to ARPU for the same period last year, again confirming the positive effect of transitioning Dobson's subscriber base to digital. ARPU would have been even higher if not for the record level of fourth quarter gross adds.

Equipment cost and cost of service in the fourth quarter were higher than previous quarters, reflecting accelerated demand for digital products and services. Dobson originally issued guidance of between 95,000 and 105,000 gross adds in the fourth quarter. The additional 4,800 gross adds increased equipment cost by approximately $1.7 million.

Cost of service in the fourth quarter was increased by approximately $3.2 million by Dobson’s increased acceleration of its network build-out to prepare for increasing digital call traffic in 2001. The majority of this cost involved higher site rental expenses, overtime salary expense and switch expense related to cell sites planned for activation in the first quarter of 2001.

Capital expenditures in the fourth quarter were $34.6 million in the Dobson-only markets and $19.3 million in the American Cellular operations, bringing the respective totals for fiscal 2000 to $134.3 million for Dobson and $68.1 million for American Cellular.

In the fourth quarter, the Company installed almost 100 new cell sites and added approximately 6,000 voice paths, of which 3,700 were digital. Dobson also continued to add cellular digital packet data radios during the fourth quarter, extending CDPD coverage to support the roll-out of its "WebMagic" wireless data product.

Even more remarkable was the impact of the Company's capital spending program for the year as a whole. In completing the rural wireless industry's first 100 percent digital network during fiscal 2000, Dobson:

-- Increased its total number of switches nationwide to 27 
    (+80 percent);
 -- Increased its total cell sites to 1,401 (+191 percent);
 -- Increased its total digital voice paths to 15,300 (+438 percent);
    and 
 -- Increased its total voice paths to 33,745 (+256 percent).

The impact of its capital investment is clearly evident in the growth of digital traffic, generated both by Dobson subscribers and by the customers of Dobson’s roaming partners as they roamed on the Dobson network. During the fourth quarter of 2000, 68 percent of call traffic on the Dobson-only network was digital, compared with 37 percent in the fourth quarter last year. Fourth quarter 2000 digital call traffic on the American Cellular network was 62 percent of the total.

"Dobson Communications today is uniquely positioned to capitalize on the most promising growth opportunities in the rural wireless industry," Mr. Dobson concluded. "Our opportunities continue to expand -- in the recent FCC spectrum auction, we bid successfully on 14 PCS licenses in seven states, which should allow us to further strengthen relationships with our key roaming partners nationwide. We hope to announce in the near future our plans for building out 1.9 GHz networks in these 14 markets."

Conference Call to Be Web-Cast

Dobson Communications will host its fourth quarter conference call on Monday, March 5, at 9:00 a.m. (ET). To participate, please call (800) 810-0924; the confirmation code is 767171. The fourth quarter conference call will also be audio web-cast live through Dobson's web site at www.dobson.net.

A replay of the call will be available later that day by dialing (888) 203-1112, using the same confirmation code. The Company plans to archive the conference call on its web site shortly after the actual event.

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 19 states. 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" within the meaning of the Private Securities Litigation Reform Act of 1995. These include, but are not limited to, statements regarding the Company's plans, intentions and expectations. Such statements are inherently subject to a variety of risks and uncertainties that could cause actual results to differ materially from those projected. These risks include increased levels of competition, shortages of cellular handsets and other key equipment, restrictions on the Company's ability to finance its growth and other factors. A more extensive discussion of the risk factors that could impact these areas and the Company's overall business and financial performance can be found in the Company's reports filed with the Securities and Exchange Commission. Given these concerns, investors and analysts should not place undue reliance on forward-looking statements.

Table 1
 
 Dobson Communications Corporation
 Statements of Operations
 
 (Includes American Cellular ownership on an equity basis and other
  acquisitions on the basis of actual impact only, not pro forma)
 
                            Three Months Ended        Year Ended
                               December 31,           December 31,
                           ------------------------------------------
                            2000        1999        2000        1999
                            ----        ----        ----        ----
                            ($ in thousands, except per share data)
                                          (unaudited)
 Operating Revenue:
  Service revenue      $   76,081  $   52,312  $  272,092  $  202,344
  Roaming revenue          60,993      38,177     224,791     145,473
  Equipment &
   other revenue            7,111       4,439      25,061      14,391
                       ----------  ----------  ----------  ----------
   Total                  144,185      94,928     521,944     362,208
  
 Operating Expenses
  (excluding
   depreciation
   & amortization):
  Cost of service          38,841      21,774     126,998      89,677
  Cost of equipment        16,996       9,950      50,835      28,512
  Marketing & selling      23,185      15,692      73,909      50,649
  General &
   administrative          19,859      14,687      71,687      55,482
                       ----------  ----------  ----------  ----------
   Total                   98,881      62,103     323,429     224,320
 
 EBITDA                    45,304      32,825     198,515     137,888
  Depreciation &
   amortization           (49,020)    (27,420)   (171,896)   (127,440)
                       ----------  ----------  ----------  ----------
 Operating income          (3,716)      5,405      26,619      10,448
  Minority interest        (1,398)     (1,183)     (5,101)     (3,308)
  Loss from investment
   in joint venture (1)   (19,185)         -      (49,622)         -
  Other income              2,184         442       9,681       3,853
                       ----------  ----------  ----------  ----------
 Income before interest
  & income taxes          (22,115)      4,664     (18,423)     10,993
  Interest expense        (44,517)    (27,144)   (151,894)   (109,509)
  Income tax benefit       18,030       8,544      45,864      37,436
                       ----------  ----------  ----------  ----------
 Loss from continuing
  operations              (48,602)    (13,936)   (124,453)    (61,080)
 Loss from discontinued
  operations, net of
  income tax                  -       (24,680)         -      (66,491)
 Extraordinary expense,
  net of income tax           -           -       (20,387)        -
                       ----------  ----------  ----------  ----------
 Net Loss                 (48,602)    (38,616)   (144,840)   (127,571)
  Dividends on
   preferred stock        (17,616)    (18,964)   (126,686)    (69,477)
                       ----------  ----------  ----------  ----------
 Net loss applicable to
  common shareholders  $  (66,218) $  (57,580) $ (271,526) $ (197,048)
                       ==========  ==========  ==========  ==========
 
 Basic net loss
  applicable to common
  shareholders per
  common share:
 Continuing operations $    (0.52) $    (0.25) $    (1.39) $    (1.11)
 Discontinued operations       -        (0.45)         -        (1.21)
 Extraordinary expense         -           -        (0.23)         -
 Dividends on
  preferred stock           (0.19)      (0.35)      (1.42)      (1.27)
 Basic net loss
  applicable to common
  shareholders per
  common share:         $   (0.71)   $  (1.05)  $   (3.04)  $   (3.59)
                       ----------  ----------  ----------  ----------
 Basic weighted average
  common shares
  outstanding          93,816,208  54,823,354  89,417,829  54,823,354
                       ==========  ==========  ==========  ==========
 
 ----------------------------------------------------------
 
 (1) Represents the Company's 50% ownership in the Net Loss
     From American Cellular.  
 
 Detailed as follows:     For the three months    For the year ended
                         ended December 31, 2000   December 31, 2000
                          ----------------------   ----------------
 EBITDA                          37,336                165,294
 Depreciation
  and Amortization              (46,588)              (154,797)
 Interest Expense               (44,121)              (140,970)
 Other Income, net                   36                    536
 Income tax benefit              14,967                 30,694
                               --------               --------
 Net Loss of
  American Cellular (100%)      (38,370)               (99,243)
                               ========               ========
 
 Table 2
 
 Dobson Communications Corporation
 Selected Financial Data
                                                    December 31, 2000
                                                   ------------------
                                                     ($ in millions)
 Cash Equivalents and Restricted Cash
  Unrestricted cash and cash equivalents                      149.0
  Escrow for towers sold to American Tower Company              2.0
  Escrow for Interest on Dobson/Sygnet Senior Notes            24.2
                                                      =============
   Total cash equivalents and restricted cash               $ 175.2
                                                      =============
 Long-term debt: (1)
  Dobson Operating Co., L.L.C. credit facility              $ 853.6
  Dobson/Sygnet credit facility                               334.9
  DCC 10.875% Senior Notes, net                               297.8
  Dobson/Sygnet Senior Notes                                  200.0
  Other                                                         3.8
                                                      -------------
   Total debt                                             $ 1,690.1
                                                      =============
 
 Senior Exchangeable Preferred Stock
  12.25%                                                    $ 313.4
  13.00%                                                      206.4
                                                      -------------
   Total Senior Exchangeable Preferred Stock                $ 519.8
                                                      =============
 
                                                      Year Ended
                                                  December 31, 2000
                                                  -----------------
                                                   ($ in millions)
 
 Capital Expenditures                                       $ 134.3
                                                      =============
 
 (1)  Does not include our proportionate interest in
      American Cellular's total debt of $1.68 billion.
 
 
 Table 3
 
 Dobson Communications Corporation                      
 Proportionately Consolidated Pro Forma                 
  Selected Financial Information
                                   
 (Includes 50% of American Cellular's operations to represent
  proportionate ownership and pro forma effect of all acquisitions
  as if they had occurred at the beginning of the periods presented)
                                               
 For the Quarter Ended                                        
                      12/31/99  3/31/00   6/30/00   9/30/00  12/31/00
                        ($ in thousands except per subscriber data)
                                        (unaudited)
 Operating Revenue:
  Service revenue     $ 87,896  $ 89,830  $ 99,012  $106,533  $106,666
  Roaming revenue       62,538    63,916    78,699    90,748    78,741
  Equipment &                                                         
   other revenue         7,684     7,691     9,212     9,122     9,463
                     --------- --------- --------- --------- ---------
   Total               158,118   161,437   186,923   206,403   194,870
                                                                      
 Operating Expenses
 (excluding                                                           
 depreciation &                                                       
 amortization):                                                   
  Cost of service       35,432    34,900    40,303    49,191    49,765
  Cost of equipment     14,622    14,868    15,196    16,187    23,001
  Marketing & selling   22,130    22,037    22,578    23,789    30,942
  General &                                                           
   administrative       22,953    24,561    25,024    24,410    26,985
                     --------- --------- --------- --------- ---------
   Total                95,137    96,366   103,101   113,577   130,693
                     --------- --------- --------- --------- ---------
 
 EBITDA (1)           $ 62,981  $ 65,071  $ 83,822  $ 92,826  $ 64,177
                     ========= ========= ========= ========= =========
 EBITDA Margin          39.83%    40.31%    44.84%    44.97%    32.93%
                                                                      
 Pops                9,515,000 9,515,000 9,515,000 9,515,000 9,515,000
                                                                     
 Post-paid                                                           
  Gross Adds            89,500    83,300    76,200    81,200   109,800
  Net Adds              45,800    43,000    33,200    26,100    56,500
  Subscribers          752,900   795,900   829,100   855,200   913,000
  Churn                  2.00%     1.74%     1.77%     2.18%     2.01%
  Average Service                                                     
   Revenue per                                                        
   Subscriber             $ 40      $ 39      $ 40      $ 42      $ 40
  Average Service                                                     
   and Roaming                                                        
   Revenue per                                                        
   Subscriber             $ 69      $ 66      $ 73      $ 78      $ 70
                                                                      
 Pre-paid                                                             
  Net Adds                 700     2,900     2,200     3,600     4,200
  Subscribers            5,300     8,200    10,400    14,000    18,200
                                                                      
 Total                                                                
  Net Adds              46,500    45,900    35,400    29,700    60,700
  Subscribers          758,200   804,100   839,500   869,200   931,200
  Penetration            7.97%     8.45%     8.82%     9.14%     9.79%
                                                                      
 (1)  Includes $1.5 million, $1.7 million, $1.9 million, $2.1 million
      and $2.1 million of EBITDA for the quarters ended  December 31,
      1999, March 31, 2000, June 30, 2000, September 30, 2000 and   
      December 31, 2000, respectively, related to minority interests.
 
 
 Table 4
 
 Dobson Communication Corporation
 
 Consolidated Pro Forma Financial Information for cellular
 operations applicable to Dobson Communications' 13% Senior
 Exhangeable Preferred Stock and 10.875% Senior Notes
 
 (100% of Dobson Communications - includes both DOC LLC and
  Dobson/Sygnet on a pro forma basis as if all acquisitions had
  occurred at the beginning of the periods and no American
  Cellular operations)
 
 For the Quarter Ended
                      12/31/99  3/31/00   6/30/00   9/30/00  12/31/00
                        ($ in thousands except per subscriber data)
                                       (unaudited)
 Operating Revenue:
  Service revenue     $ 63,889  $ 65,853  $ 72,132  $ 77,056  $ 76,317
  Roaming revenue       44,314    47,977    58,692    67,335    62,052
  Equipment &
   other revenue         5,668     5,836     6,726     6,759     7,149
                     --------- --------- --------- --------- ---------
   Total               113,871   119,666   137,550   151,150   145,518
 
 Operating Expenses
 (excluding
 depreciation &
 amortization):
  Cost of service       28,032    27,317    31,952    38,295    39,278
  Cost of equipment     11,508    12,270    11,997    11,972    17,136
  Marketing & selling   17,578    18,126    18,016    17,993    23,349
  General &
   administrative       17,560    18,468    19,050    18,858    20,255
                     --------- --------- --------- --------- ---------
   Total                74,678   76,181     81,015    87,118   100,018
                     --------- --------- --------- --------- ---------  
 
 EBITDA (1)           $ 39,193  $ 43,485  $ 56,535  $ 64,032  $ 45,500
                     ========= ========= ========= ========= =========
 
 EBITDA Margin          34.42%    36.34%    41.10%    42.36%    31.27%
 
 Pops                7,070,000 7,070,000 7,070,000 7,070,000 7,070,000
 
 Post-paid
  Gross Adds            62,500    60,900    52,400    56,300    76,000
  Net Adds              29,100    30,900    20,000    13,300    36,300
  Subscribers          537,300   568,300   588,300   601,600   639,200
  Churn                  2.13%     1.81%     1.87%     2.41%     2.13%
  Average Service
   Revenue per
   Subscriber             $ 41      $ 39      $ 41      $ 43      $ 41
  Average Service
   and Roaming
   Revenue per
   Subscriber             $ 69      $ 68      $ 75      $ 81      $ 74
 
 Pre-paid
  Net Adds                 200     1,500     1,900     3,500     4,400
  Subscribers            3,500     5,000     6,900    10,400    14,800
 
 Total
  Net Adds              29,300    32,400    21,900    16,800    40,700
  Subscribers          540,800   573,300   595,200   612,000   654,000
  Penetration            7.65%     8.11%     8.42%     8.66%     9.25%
 
 (1)  Includes $1.5 million, $1.7 million, $1.9 million, $2.1 million
      and $2.1 million of EBITDA for the quarters ended December 31,
      1999, March 31, 2000, June 30, 2000, September 30, 2000 and
      December 31, 2000, respectively, related to minority interests.
 
 
 Table 5
 
 American Cellular Corporation
 Consolidated Financial Information
 
 (100% American Cellular, exclusive of Dobson’s operations)
 
 For the Quarter Ended
                      12/31/99  3/31/00   6/30/00   9/30/00  12/31/00
                       ($ in thousands except per subscriber data)
                                       (unaudited)
 Operating Revenue:
  Service revenue    $ 48,014  $ 47,953  $ 53,759  $ 58,954  $ 60,699
  Roaming revenue      36,447    31,877    40,015    46,827    33,378
  Equipment &
   other revenue        4,033     3,712     4,972     4,727     4,628
                    --------- --------- --------- --------- ---------
   Total               88,494    83,542    98,746   110,508    98,705
 
 Operating Expenses
 (excluding
 depreciation &
 amortization):
  Cost of service      14,799    15,166    16,701    21,791    20,974
  Cost of equipment     6,227     5,196     6,399     8,431    11,731
  Marketing & selling   9,106     7,822     9,124    11,593    15,185
  General &
   administrative      10,785    12,186    11,948    11,104    13,461
                    --------- --------- --------- --------- ---------
   Total               40,917    40,370    44,172    52,919    61,351
                    --------- --------- --------- --------- ---------
 EBITDA              $ 47,577  $ 43,172  $ 54,574  $ 57,589  $ 37,354
                    ========= ========= ========= ========= =========
 
  EBITDA Margin         53.76%    51.68%    55.27%    52.11%    37.84%
 
 Pops               4,889,000 4,889,000 4,889,000 4,889,000 4,889,000
 
 Post-paid
  Gross Adds           54,000    44,700    47,500    49,800    67,500
  Net Adds             33,300    24,100    26,300    25,600    40,400
  Subscribers         431,200   455,300   481,600   507,200   547,600
  Churn                 1.70%     1.60%     1.55%     1.63%     1.71%
  Average Service
   Revenue per
   Subscriber            $ 39      $ 36      $ 38      $ 40      $ 38
  Average Service
   and Roaming
   Revenue per
   Subscriber            $ 68      $ 60      $ 67      $ 71      $ 59
 
 Pre-paid
  Net Adds              1,000     2,800       600       400      (500)
  Subscribers           3,500     6,300     6,900     7,300     6,800
 
 Total
  Net Adds             34,300    26,900    26,900    26,000    39,900
  Subscribers         434,700   461,600   488,500   514,500   554,400
  Penetration           8.89%     9.44%     9.99%    10.52%    11.34%
 
 
 Table 6
 
 Dobson Operating Company LLC
 
 Pro Forma Financial Information for cellular operations applicable
 to Dobson Communications 12.25% Senior Exchangeable Preferred Stock
 
 (Includes DOC LLC on a pro forma basis as if all acquisitions had
  occurred at the beginning of the periods.  Excludes Dobson/Sygnet
  and American Cellular)
 
 For the Quarter Ended
                      12/31/99  3/31/00   6/30/00   9/30/00  12/31/00
                        ($ in thousands except per subscriber data)
                                          (unaudited)
 
 Operating Revenue:
  Service revenue     $ 39,183  $ 40,646  $ 43,549  $ 46,047  $ 45,714
  Roaming revenue       35,830    39,388    48,940    55,510    51,707
  Equipment & 
   other revenue         3,730     3,726     4,069     4,731     5,091
                     --------- --------- --------- --------- ---------
   Total                78,743    83,760    96,558   106,288   102,512
 
 Operating Expenses
 (excluding
 depreciation &
 amortization):
  Cost of service       21,241    21,032    23,544    28,392    30,680
  Cost of equipment      6,289     6,891     7,097     7,896     8,597
  Marketing & selling   10,893    11,119    12,008    12,189    16,160
  General &
   administrative       13,044    12,747    12,988    12,320    13,859
                     --------- --------- --------- --------- ---------
   Total                51,467    51,789    55,637    60,797    69,296
                     --------- --------- --------- --------- ---------
 
 EBITDA (1)           $ 27,276  $ 31,971  $ 40,921  $ 45,491  $ 33,216
                     ========= ========= ========= ========= =========
 EBITDA Margin          34.64%    38.17%    42.38%    42.80%    32.40%
 
 Pops                4,708,000 4,708,000 4,708,000 4,708,000 4,708,000
 
 Post-paid
  Gross Adds            36,200    35,500    34,800    38,400    46,600
  Net Adds              15,400    16,000    14,500    12,800    22,100
  Subscribers          313,500   329,900   344,400   357,100   380,500
  Churn                  2.27%     2.02%     2.01%     2.43%     2.22%
  Average Service
   Revenue per
   Subscriber             $ 42      $ 42      $ 43      $ 43      $ 41
  Average Service
   and Roaming
   Revenue per
   Subscriber             $ 81      $ 83      $ 91      $ 96      $ 88
 
 Pre-paid
  Net Adds                 200     1,500     1,900     3,300     4,100
  Subscribers            3,500     5,000     6,900    10,200    14,300
 
 Total
  Net Adds              15,600    17,500    16,400    16,100    26,200
  Subscribers          317,000   334,900   351,300   367,300   394,800
  Penetration            6.73%     7.11%     7.46%     7.80%     8.39%
 
 (1)  Includes $1.5 million, $1.7 million, $1.9 million, $2.1 million
      and $2.1 million of EBITDA for the quarters ended  December 31,
      1999, March 31, 2000, June 30, 2000, September 30, 2000 and
      December 31, 2000, respectively, related to minority interests.
 
 
 Table 7
 
 Dobson/Sygnet Communications Company
 Financial Information for cellular operations applicable to
 Dobson/Sygnet 12.25% Senior Notes
   
 (Excludes DOC LLC and American Cellular)
 
 For the Quarter Ended
                      12/31/99  3/31/00   6/30/00   9/30/00  12/31/00
                        ($ in thousands except per subscriber data)
                                        (unaudited)
 
 Operating Revenue:
  Service revenue     $ 24,706  $ 25,191  $ 28,568  $ 30,995  $ 30,590
  Roaming revenue        8,484     8,589     9,751    11,824    10,345
  Equipment &
   other revenue         1,937     2,110     2,657     2,028     2,058
                     --------- --------- --------- --------- ---------
   Total                35,127    35,890    40,976    44,847    42,993
 
 Operating Expenses
 (excluding
 depreciation &
 amortization):
  Cost of service        6,975     6,285     8,408     9,903     8,597
  Cost of equipment      5,171     5,379     4,899     4,075     8,538
  Marketing & selling    6,568     7,007     6,008     5,804     7,189
  General &
   administrative        4,484     5,743     6,053     6,501     6,240
                     --------- --------- --------- --------- ---------
   Total                23,198    24,414    25,368    26,283    30,564
                     --------- --------- --------- --------- ---------
 
 EBITDA               $ 11,929  $ 11,476   $15,608   $18,564   $12,429
                     ========= ========= ========= ========= =========
 EBITDA Margin          33.96%    31.98%    38.09%    41.39%    28.91%
 
 Pops (1)            2,362,000 2,362,000 2,362,000 2,362,000 2,362,000
 
 Post-paid
  Gross Adds            26,300    25,400    17,700    17,900    29,400
  Net Adds              13,700    14,800     5,500       500    14,300
  Subscribers          223,800   238,400   243,900   244,400   258,700
  Churn                  1.93%     1.52%     1.68%     2.37%     2.01%
  Average Service
   Revenue per
   Subscriber             $ 38      $ 36      $ 39      $ 42      $ 41
  Average Service
   and Roaming
   Revenue per
   Subscriber             $ 51      $ 49      $ 53      $ 58      $ 54
 
 Pre-paid
  Net Adds                  -         -         -        200       300
  Subscribers               -         -         -        200       500
 
 Total
  Net Adds              13,700    14,800     5,500       700    14,600
  Subscribers          223,800   238,400   243,900   244,600   259,200
  Penetration            9.48%    10.09%    10.33%    10.36%    10.97%
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CONTACT: 

Dobson Communications Corp., Oklahoma City
J. Warren Henry
Vice President, Investor Relations
(405) 529-8820