CHICAGO, Sept. 3 IL-TDS-U.S.-Cellular
CHICAGO, Sept. 3 /PRNewswire-FirstCall/ -- Telephone and Data Systems,
Inc. (Amex: TDS; TDS.S) and United States Cellular Corporation (Amex: USM)
today announced that both companies intend to switch their publicly traded
shares to the New York Stock Exchange (NYSE) from the American Stock Exchange
(AMEX). The companies anticipate that their shares will begin trading on the
NYSE, and cease trading on the AMEX, on Sept. 15, 2008. TDS Common Shares will
continue to trade as "TDS"; TDS Special Common Shares will continue to trade
as "TDS.S"; and U.S. Cellular Common Shares will continue to trade as "USM".
"Listing on the New York Stock Exchange is a significant milestone for our
companies," said TDS President and CEO and U.S. Cellular Chairman LeRoy T.
Carlson, Jr. "We believe that this transition will enable us to better serve
our investors, and will provide increased visibility for our stocks. The NYSE
has made significant investments in technology, which we believe will provide
the best possible liquidity and the highest-quality market for our stocks."
"I want to thank the American Stock Exchange for supporting both TDS and
U.S. Cellular since their initial public offerings," added Carlson. "The AMEX
has been a tremendous partner to our companies for many years, as TDS and U.S.
Cellular have grown into multi-billion dollar enterprises."
"We look forward to welcoming Telephone and Data Systems and U.S. Cellular
to our family of listed companies and to providing both companies and their
respective shareholders with the superior market quality and brand visibility
associated with listing on NYSE Euronext markets," said NYSE Euronext Group
Executive Vice President and Head of Global Listings, Catherine R. Kinney.
About TDS
Telephone and Data Systems, Inc. (TDS), a Fortune 500(R) company, provides
wireless, local and long-distance telephone, and broadband services to nearly
7.4 million customers in 36 states through its business units, U.S. Cellular
(wireless) and TDS Telecom (wireline). Founded in 1969 and headquartered in
Chicago, TDS employed 12,400 people as of June 30, 2008. For more information
about TDS, visit http://www.teldta.com.
About U.S. Cellular
United States Cellular Corporation, the nation's sixth-largest,
full-service wireless carrier, provides a comprehensive range of wireless
products and services, excellent customer support, and a high-quality network
to nearly 6.2 million customers in 26 states. The Chicago-based company
employed 9,000 associates as of June 30, 2008. For more information about U.S.
Cellular, visit http://www.uscellular.com.
Safe Harbor Statement Under the Private Securities Litigation Reform Act
of 1995: All information set forth in this news release, except historical and
factual information, represents forward-looking statements. This includes all
statements about the company's plans, beliefs, estimates, and expectations.
These statements are based on current estimates, projections, and assumptions,
which involve certain risks and uncertainties that could cause actual results
to differ materially from those in the forward-looking statements. Important
factors that may affect these forward-looking statements include, but are not
limited to: The ability of U.S. Cellular to successfully manage and grow the
operations of more recently launched markets; changes in the overall economy,
competition, the access to and pricing of unbundled network elements, the
state and federal telecommunications regulatory environment, and the value of
assets and investments; adverse changes in the ratings afforded TDS and U.S.
Cellular debt securities by accredited ratings organizations; industry
consolidation; advances in telecommunications technology; uncertainty of
access to the capital markets; risks and uncertainties relating to
restatements and possible future restatements; ability to remediate the
material weakness; pending and future litigation; changes in income tax rates,
laws, regulations or rulings; acquisitions/divestitures of properties and/or
licenses; and changes in customer growth rates, average monthly revenue per
unit, churn rates, roaming revenue and terms, the availability of devices, or
the mix of products and services offered by U.S. Cellular and TDS Telecom.
Investors are encouraged to consider these and other risks and uncertainties
that are discussed in the Form 8-K used by TDS to furnish this press release
to the SEC, which are incorporated by reference herein.
SOURCE TDS; U.S. Cellular
