A new approach to design dual-band two-branch couplers with arbitrary coupling coefficients at two operating frequency bands is proposed in this article. The method is based on the usage of equivalent subcircuits input reactances of the even-mode and odd-mode excitations. The exact design formulas for three options of the dual-band coupler with different location and number of stubs are received. These formulas permit to obtain the different variants for each structure in order to select the physically realizable solution and can be used in broad range of frequency ratio and power division ratio. For verification, three different dual-band couplers, which are operating at 2.4/3.9 GHz with different coupling coefficients (one with 3/6 dB, and 10/3 dB two others) are designed, simulated, fabricated and tested. The measured results are in good agreement with the simulated ones.