EchoStar Completes Early Redemption of 5 3/4% Convertible Subordinated Notes.ENGLEWOOD, Colo. -- EchoStar Communications Corporation EchoStar Communications Corporation (NASDAQ: DISH) is the parent company of DISH Network and the maintainer of the satellite fleet that provides the signal that DISH Network markets. (Nasdaq: DISH) today announced the results of its previously announced redemption of all of its 5 th% Convertible Subordinated Notes due 2008 (the "Notes"). EchoStar has been advised by US Bank, as paying agent Paying Agent An agent who accepts payments from the issuer of a security and then distributes the payments to the holders of the security. Also known as a "disbursing agent. , that Notes in the aggregate principal amount of $15,000 were converted prior to the expiration of the conversion period at 5 PM ET on Feb. 14, 2007. Accordingly, effective Feb. 15, 2007, the outstanding principal amount of $999,985,000 was repurchased at 101.643 percent, for a total of approximately $1.016 billion, plus accrued and unpaid interest through the redemption date Redemption date The date on which a bond matures or is redeemed. redemption date The date on which a debt security is scheduled to be redeemed by the issuer. The redemption date is the scheduled maturity date or, if applicable, a call date. . Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 Except for historical information contained herein, the matters set forth in this press release are forward-looking statements. The forward-looking statements set forth above involve a number of risks and uncertainties that could cause actual results to differ materially from any such statement, including the risks and uncertainties discussed in EchoStar Communication Corporation's Disclosure Regarding Forward-Looking Statements included in its recent filings with the Securities and Exchange Commission, including its annual report on Form 10-K and its most recent quarterly report on Form 10-Q. The forward-looking statements speak only as of the date made, and EchoStar Communications Corporation expressly disclaims any obligation to update these forward-looking statements. About EchoStar EchoStar Communications Corporation (Nasdaq: DISH) serves more than 13 million satellite TV customers through its DISH Network(TM), the fastest-growing pay-TV provider in the country since 2000. DISH Network's services include hundreds of video and audio channels, Interactive TV, HDTV (High Definition TV) A set of digital television (DTV) standards that offer the highest resolution and sharpest picture. Although some HDTV sets are available in standard (rather square) screen sizes, the overwhelming majority of sets are wide screen, which eliminates , sports and international programming, together with professional installation and 24-hour customer service. EchoStar has been a leader for more than 25 years in satellite TV equipment sales and support worldwide. EchoStar is included in the Nasdaq-100 Index (NDX NDX Index NDX Index (File Name Extension) NDX Northern Document Exchange NDX Index File ) and is a Fortune 300 company. Visit EchoStar's Web site at www.echostar.com or call 1-800-333-DISH (3474). |
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