Echostar Communications Corporation Declares Dividend On 12 1/8% PIK Preferred Stock

Business Wire, Sept 10, 1998

LITTLETON, Colo.--(BUSINESS WIRE)--Sept. 10, 1998--EchoStar Communications Corporation (Nasdaq: DISH, DISHP) today announced that its board of directors has declared a September 17, 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 September 30, 1998, is payable on October 1, 1998 to holders of record at the close of business on September 17, 1998. There are presently 218,672.8724 shares of Preferred Stock outstanding. The dividend will result in the issuance of an additional 6,628.5214 shares of Preferred Stock. Consequently, giving effect to the dividend, there will be 225,301.3938 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 Corporation
             Judianne Atencio, Communications Director, 303/723-2010
             e-mail: judianne.atencio@echostar.com