Pegasus Completes Deals

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Radnor, Pa. -- Pegasus Communications Corp., the biggest
independent distributor of DirecTv Inc. services, said it has agreed to buy six other
DirecTv dealers with a total of 21,500 subscribers for $41.2 million in cash and notes.
Pegasus -- which has about 373,000 direct-broadcast satellite subscribers in 36 states --
also closed its previously announced $30 million sale of cable systems in New England to
Avalon Communications for $30 million. The cable systems have 15,500 subscribers in
northwest Connecticut and parts of Massachusetts. The DBS territories that Pegasus agreed
to buy cover 143,000 households, including 58,000 homes that are not passed by cable. They
boost Pegasus' presence in Minnesota and Texas. The purchase price consisted of $27.4
million in cash and $13.8 million in notes.

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