For
additional information
contact:
Andrew
Moreau
501-905-7962
VP
–
Corporate
Communications
andrew.moreau@alltel.com
Tim
Hicks
501-905-8991
Director
–
Investor
Relations & Treasury Services
alltel.investor.relations@alltel.com
Release
Date:
July
23, 2007
Alltel
announces Aug. 29 as date for special shareholder meeting
Company
also sets second-quarter earnings conference call
LITTLE
ROCK, Ark. – Alltel Corp. today announced that a special meeting of shareholders
to vote on the proposed purchase of Alltel by TPG Capital and GS Capital
Partners ("GSCP") has been set for Aug. 29. The meeting will be held at noon
CDT
at Alltel Arena in North Little Rock, Arkansas. Shareholders of record as
of the
close of business on the record date of July 23, 2007, will be entitled to
vote
at the meeting.
On
June 13, Alltel filed a preliminary
proxy statement in connection with the proposed purchase with the Securities
and
Exchange Commission. Alltel expects the final proxy to be filed shortly.
The
final proxy statement will be mailed together with a proxy card and notice
of
the special meeting to Alltel shareholders of record as of the July 23 record
date.
On
May 20, Alltel announced that it had
agreed to be acquired by TPG Capital and GSCP for $71.50 cash for each share
of
Alltel common stock. The transaction is subject to certain conditions, including
approval by Alltel’s shareholders.
Also
today, Alltel announced that it
will hold a conference call at 7:30 a.m. CDT on Aug. 1 to release the company’s
second-quarter earnings results.
Interested
parties can access the
conference call by dialing 877-493-2983 five minutes prior to the start time.
A
replay of the call will be available beginning at 10:30 a.m. CDT on Aug.
1 and
ending at midnight CDT on Aug. 8. The replay can be accessed by calling
800-642-1687, passcode 10888674.
The
conference call will be streamed live over the company's Web site at
www.alltel.com/investors
. Financial, statistical and other
information related to the call also will be posted on the investor relations
section of the company's Web site. A replay of the Web cast will be available
on
the Web site beginning at 10:30 a.m. CDT on Aug. 1.
About
Alltel
Alltel
is
owner and operator of the nation’s largest wireless network and has 12 million
wireless customers.
Forward-Looking
Statements
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): the occurrence of any event, change or other
circumstances that could give rise to the termination of the merger agreement
with TPG and GS Capital; the inability to complete the merger due to the
failure
to obtain stockholder approval for the merger or the failure to satisfy other
conditions to completion of the merger, including the receipt of all regulatory
approvals related to the merger; risks that the proposed transaction disrupts
current plans and operations; adverse changes in economic conditions in the
markets served by Alltel; 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 the integration of
acquired businesses; adverse changes in the terms and conditions of the wireless
roaming agreements of Alltel; the potential for adverse changes in the ratings
given to Alltel's debt securities by nationally accredited ratings
organizations; 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.
IMPORTANT
ADDITIONAL INFORMATION AND WHERE TO FIND IT:
In
connection with the proposed merger, Alltel has filed a preliminary proxy
statement with the Securities and Exchange Commission (the "SEC"). This document
is not yet final and will be amended. INVESTORS AND SECURITY HOLDERS ARE
ADVISED
TO READ THE FINAL PROXY STATEMENT WHEN IT BECOMES AVAILABLE BECAUSE IT WILL
CONTAIN IMPORTANT INFORMATION ABOUT THE MERGER AND THE PARTIES TO THE MERGER.
Investors and security holders also may obtain a free copy of the proxy
statement (when available) and other relevant documents filed with the SEC
from
the SEC's website at
http://www.sec.gov
or by
directing a request by mail or telephone to Director-Investor Relations,
Alltel
Corporation, One Allied Drive, Little Rock, AR 72202, telephone 1-877-446-3628
or from Alltel's website, www.alltel.com.
Alltel
and its directors and certain of its officers may be deemed to be participants
in the solicitation of proxies from Alltel's shareholders with respect to
the
merger. Information about Alltel's directors and executive officers and their
ownership of Alltel's common stock is set forth in the proxy statement for
Alltel's 2007 Annual Meeting of Shareholders, which was filed with the SEC
on
April 16, 2007, and in the preliminary proxy statement for the special meeting
filed with the SEC on June 13, 2007. Shareholders and investors may obtain
additional information regarding the interests of Alltel and its directors
and
executive officers in the merger, which may be different than those of Alltel's
shareholders generally, by reading the final proxy statement and other relevant
documents regarding the merger, which will be filed with the SEC.
-end-
Alltel,
NYSE: AT
www.alltel.com