EchoStar Communications Corp. Declares Dividend On 12 1/8% PIK Preferred Stock

Business Wire, June 18, 1998

LITTLETON, Colo.--(BUSINESS WIRE)--June 18, 1998--EchoStar Communications Corp. (NASDAQ:DISH, DISHP) today announced that its Board of Directors have declared a June 25, 1998, record date in connection with the quarterly dividend payment on the company's 12 1/8% Pay-In-Kind Series B Senior Redeemable Exchangeable Preferred Stock ("Preferred Stock").

The dividend will be payable in additional shares of Preferred Stock at a quarterly dividend rate of 0.0303125 shares of newly issued Preferred Stock for each share of Preferred Stock currently issued and outstanding, or one share of newly issued Preferred Stock for every 32.9897 shares of Preferred Stock currently issued and outstanding.

The dividend, cumulative through June 30, 1998, is payable on July 1, 1998, to holders of record at the close of business on June 25, 1998. There are presently 212,239.3666 shares of Preferred Stock outstanding. The dividend will result in the issuance of an additional 6,433.5058 shares of Preferred Stock.Consequently, giving effect to the dividend, there will be 218,672.8724 shares of Preferred Stock outstanding. In lieu of a cash payment, fractional shares will be accounted for through the Depository Trust system.

    CONTACT:  EchoStar Communications Corp.
               Judianne Atencio, 303/723-2010
               judianne.atencio@echostar.com