EchoStar Communications Corp. Closes an Additional $15 Million of 6-3/4% Series C Cumulative Convertible Preferred Stock

Business Wire, Nov 12, 1997

ENGLEWOOD, Colo.--(BUSINESS WIRE)--Nov. 12, 1997--EchoStar Communications Corporation ("EchoStar," NASDAQ:DISH; NASDAQ:DISHP) announced today that Donaldson, Lufkin & Jenrette Securities Corporation and Lehman Brothers Inc., the Underwriters of the Company's recent offering of 2.0 million shares of 6-3/4% Series C Cumulative Convertible Preferred Stock (the "Preferred Stock") have exercised their option to purchase an additional 300,000 shares of the Preferred Stock at the public offering price of $50.

The net proceeds to the Company from the Preferred Stock and over-allotment exercise are expected to be approximately $175 million.

The proceeds from the Preferred Stock will be used to fund the expansion of EchoStar's state-of-the-art DISH Network direct broadcast satellite system subscriber base, marketing expenses and general corporate purposes.

EchoStar III launched on October 5, 1997 from Cape Canaveral Air Station, Florida. EchoStar III will complement current programming offered by the DISH Network by expanding international, educational and business programming, including possible data delivery and retransmission of local channels in certain U.S. television markets.

EchoStar, headquartered in Englewood, Colorado, is a worldwide manufacturer and distributor of satellite television products and the only U.S. provider of state-of-the-art full MPEG-2/DVB compliant satellite television systems. EchoStar is a single consumer source for equipment, sales, installation and service, consumer financing and programming distribution. EchoStar is widely recognized in the satellite industry for its advanced research and development activities.

DISH Network is a service mark of EchoStar Communications Corporation. DISH Network is located on the Internet at: http://www.dishnetwork.com

The statements included in this press release concerning predictions of economic performance and management's plans and objectives constitute forward looking statements. These statements involve risks and uncertainties that could cause actual results to differ materially from the forward looking statements.

Factors which would cause or contribute to such differences include, but are not limited to, factors detailed in EchoStar's Securities and Exchange Commission filings, downturns in EchoStar's primary markets, disruptions in EchoStar's operations from acts of God, launch failures, competition and the unavailability of financing to complete management's plans and objectives.

CONTACT: EchoStar Communications Corp., Englewood

Judianne Atencio, 303/799-8222 x5112

e-mail: judianne.atencio@echostar.com