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Pegasus Communications Previously Announced 2-for-1 Stock Split in Effect Today

BALA CYNWYD, PA -- (MARKET WIRE) -- 08/27/04 -- Pegasus Communications Corporation (NASDAQ: PGTV) announced today that its previously announced two for one stock split will be reflected in trading on Nasdaq starting today. The stock split was paid on August 26, 2004 as a stock dividend to all holders of Class A and Class B common stock of one share for each share held of record on August 19, 2004.

About Pegasus Communications

Pegasus Communications Corporation is the parent company of Pegasus Satellite Communications, Inc.; Pegasus Development Corporation, which holds Ka band satellite licenses granted by the FCC and intellectual property rights licensed from Personalized Media Communications LLC; Pegasus Guard Band LLC, which holds FCC licenses to provide terrestrial communications services in the 700 MHZ spectrum covering areas of the United States including approximately 180 million people (POPS); and Pegasus Rural Broadband LLC, which provides wireless broadband Internet access in rural areas.

Contact Information:
Andrew Smith
Pegasus Communications Corporation
(610) 934-7083
andrew.smith@pgtv.com


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