Alltel to exchange wireless properties to meet divestiture requirements; Alltel gains Idaho wireless properties in transaction with U.S. Cellular

Alltel will retain ownership of the Lincoln, Neb., market that wasowned by Western Wireless. The company also will retain ownership ofall the properties in Kansas and Nebraska that it operated prior tothe merger with Western Wireless.

The two markets Alltel is acquiring include 22 counties insouthern and eastern Idaho, areas that are adjacent to the company'soperations in the state.

The Department of Justice order also requires Alltel to divest arural market in southwest Arkansas and the Cellular One brand. Thecompany expects to be in compliance with the order of disposal withinthe four-month allotted time frame.

The transaction with U.S. Cellular is subject to federalregulatory approval. It is expected to close in the fourth quarter of2005. The agreement includes licenses, network assets, customers andemployees.

Alltel is a customer-focused communications company with more than15 million customers in 36 states and nearly $10 billion in annualrevenues.

Alltel claims the protection of the safe-harbor forforward-looking statements contained in the Private SecuritiesLitigation Reform Act of 1995. Forward-looking statements are subjectto uncertainties that could cause actual future events and results todiffer materially from those expressed in the forward-lookingstatements. These forward-looking statements are based on estimates,projections, beliefs, and assumptions and are not guarantees of futureevents and results. Actual future events and results may differmaterially from those expressed in these forward-looking statements asa result of a number of important factors. Representative examples ofthese factors include (without limitation) adverse changes in economicconditions in the markets served by Alltel; the risks associated withthe extent, timing, and overall effects of competition in thecommunications business; material changes in the communicationsindustry generally that could adversely affect vendor relationshipswith equipment and network suppliers and customer relationships withwholesale customers; changes in communications technology; the risksassociated with pending acquisitions and dispositions, including thepending acquisition of the Idaho markets and the pending dispositionsof Western Wireless' Kansas and Nebraska markets and internationalassets; the risks associated with the integration of acquiredbusinesses, including the integration of Western Wireless; theuncertainties related to any discussions or negotiations regarding thesale of any of the international assets; adverse changes in the termsand conditions of the wireless roaming agreements of Alltel; theuncertainties related to Alltel's strategic investments; the effectsof litigation; and the effects of federal and state legislation,rules, and regulations governing the communications industry. Inaddition to these factors, actual future performance, outcomes, andresults may differ materially because of more general factorsincluding (without limitation) general industry and market conditionsand growth rates, economic conditions, and governmental and publicpolicy changes.

Alltel, NYSE: AT

www.alltel.com