Alltel (NYSE: AT) today announced that Western Wireless shareholders will have until 5 p.m. EDT on July 21, 2005, to make an election to receive the merger consideration in cash or shares of Alltel common stock, subject to pro-ration. The Western Wireless shareholders must deliver to Computershare Trust Co. of New York, the exchange agent, properly completed forms of election, together with their stock certificates, by the deadline. Western Wireless shareholders who miss the deadline will have no input into the consideration they will ultimately receive. The election results regarding the merger consideration will be announced as soon as possible after the election deadline. Western Wireless shareholders may obtain additional copies of the form of election and the form of notice of guaranteed delivery by contacting Computershare Trust at 1-800-245-7630. Western Wireless shareholders whose shares are held in their brokers' name should contact their brokers for instructions. Alltel is a customer-focused communications company with more than 13 million customers in 27 states and $8 billion in annual revenues. Alltel claims the protection of the safe-harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to uncertainties that could cause actual future events and results to differ materially from those expressed in the forward-looking statements. These forward-looking statements are based on estimates, projections, beliefs, and assumptions and are not guarantees of future events and results. Actual future events and results may differ materially from those expressed in these forward-looking statements as a result of a number of important factors. Representative examples of these factors include (without limitation) adverse changes in economic conditions in the markets served by Alltel and Western Wireless; the extent, timing, and overall effects of competition in the communications business; material changes in the communications industry generally that could adversely affect vendor relationships with equipment and network suppliers and customer relationships with wholesale customers; changes in communications technology; the risks associated with pending acquisitions and the integration of acquired businesses; adverse changes in the terms and conditions of the wireless roaming agreements of Alltel and Western Wireless; the uncertainties related to Alltel's strategic investments; the effects of litigation; and the effects of federal and state legislation, rules, and regulations governing the communications industry. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. Alltel, NYSE: AT www.alltel.com
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