Dobson Communications still in discussions to restructure loan

Chicago, April 30 - Dobson Communications Corp.'s majority shareholder, Dobson CC LP, and Bank of America NA remain in discussions regarding the amendment and restructuring of DCCLP's loan.

DCCLP and the bank extended the restructuring to May 2. Bank of America had the right to terminate the extension if the two parties did not agree on the forms of the amended loan documents by the end of the day Tuesday, April 29.

On March 31 DCCLP reached an agreement in principle with Bank of America for the restructuring of the loan, under which DCCLP will maintain controlling interest in Dobson Communications, and any change of control risk arising from a default under the restructured loan would be permanently eliminated.

DCCLP stated today that the key terms of the agreement, including the elimination of the change of control risk, remain unchanged.

Dobson Communications is wireless company based in Oklahoma City.

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