Alltel Wireless

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LITTLE ROCK, Ark. - Alltel and Cingular Wireless, a joint venture between SBC Communications, Inc. and BellSouth Corp., today announced they have entered into a definitive agreement on the sale of certain Cingular assets.

Under the terms of the agreement, Cingular will sell to Alltel former AT&T Wireless properties, including licenses, network assets, and subscribers, in the following markets: Oklahoma City and Grant, Okla.; Sherman, Denison, and Jack, Texas; Owensboro and Fulton, Ky.; Litchfield, Conn. and Yalobusha, Miss. Cingular also has agreed to sell to Alltel 20MHz of spectrum and the network assets formerly held by AT&T Wireless in Wichita, Kan. In addition, Cingular is selling to Alltel wireless spectrum in several counties in Georgia and Texas.

Through this transaction, Cingular will receive $170 million in cash. The companies also will swap significant partnership interests, with Cingular receiving interests in such markets as Wichita, Kan., Kansas City, Mo., Milwaukee, and several in Texas. Alltel in turn, will gain more ownership in markets it manages in Michigan, north Louisiana, and Toledo, Ohio.

The transaction will allow Cingular to meet a substantial portion of the divestiture obligations imposed by the Department of Justice and Federal Communications Commission as conditions of their approval of Cingular's merger with AT&T Wireless.

Closing of the transaction agreement is contingent upon regulatory approval and is expected to occur in the first quarter of 2005.

Alltel is a customer-focused communications company with almost 13 million customers and $8 billion in annual revenues. Alltel provides wireless, local telephone, long-distance, Internet and high-speed data services to residential and business customers in 26 states.

Cingular Wireless is the largest wireless carrier in the United States, serving more than 46 million customers. Cingular, a joint venture between SBC Communications (NYSE: SBC) and BellSouth (NYSE: BLS), has the largest digital voice and data network in the nation. Cingular is the only U.S. wireless carrier to offer Rollover(SM), the wireless plan that lets customers keep their unused monthly minutes. Details of the company are available at http://www.cingular.com . Get Cingular Wireless press releases e-mailed to you automatically. Sign up at http://www.cingular.com/newsroom .

For additional information contact:

Andrew Moreau - 501-905-7962
Alltel
Vice President - Corporate Communications
andrew.moreau@alltel.com

Mark Siegel - 908-696-4218
Cingular Wireless
Executive Director - Media Relations
mark.a.siegel@cingular.com

Alltel, NYSE: AT
www.alltel.com