Exhibit 99

**Cautionary Statement for Purposes of the“Safe Harbor” Provision of the Private Securities Litigation Reform Act of 1995**

Forward-Looking Statements

This report on Form 10-K and other documents filed byHickoryTech under the federal securities laws, including Form 10-Q and Form8-K, and future oral or written statements by HickoryTech and its management,may include forward-looking statements. These statements may include, withoutlimitation, statements with respect to anticipated future operating andfinancial performance, growth opportunities and growth rates, acquisition anddivestiture opportunities, business strategies, business and competitiveoutlook and other similar forecasts and statements of expectation. Words suchas expects, anticipates, intends, plans, believes, seeks, estimates and shouldand variations of these words and similar expressions are intended to identifythese forward-looking statements. Such forward-looking statements are subjectto uncertainties that could cause HickoryTech’s actual results to differmaterially from such statements.

Uncertainties causing differing results from thoseexpressed in the forward-looking statements include, but are not limited to,those uncertainties set forth below:
| • | The effects of on-going deregulation  in the telecommunications industry as a result of the Federal  Telecommunications Act of 1996 (the “Telecommunications Act”) (which allows  competition among telephone companies for the rights to offer telephone  service to customers in a franchised service area) and other similar federal  and state legislation and regulations, including, without limitation, (i)  greater than anticipated competition in HickoryTech’s predominately rural  local exchange telephone markets, (ii) greater than anticipated reductions in  revenues received from federal and state access charges for switching long  distance traffic, (iii) the final outcome of regulatory and judicial  proceedings with respect to interconnection agreements and access charge  reforms, and (iv) future state regulatory actions taken in response to the  Telecommunications Act.                                                                                                                 |
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| • | HickoryTech’s ability to  successfully introduce new products and services, including, without  limitation, (i) the ability of Crystal (which started its competitive local  exchange carrier (CLEC) business in January 1998) to provide competitive  local service in new markets, (ii) the ability of NIBI (which is a billing  and data services company) to implement, market, and sell its new  SuiteSolution billing system, (iii) the ability of MSWC (a cellular telephone  company purchased in May 1998) to successfully implement, market, and sell  its new digital wireless network products and service, (iv) the ability of  HickoryTech to offer bundled service packages on terms attractive to its customers,  (v) the ability of HickoryTech to expand successfully its long distance and  Internet offerings to new markets and (vi) the ability of HickoryTech to  introduce and sell the equipment and systems of Nortel, Bay Networks, Octel  and Cisco versus the competitive alternatives of other suppliers. |
| • | Possible changes in the demand  for HickoryTech’s products and services, including, without limitation, lower  than anticipated demand for, (i) premium telephone services, additional  access lines per household or minutes of use volume associated with telephone  service, (ii) wireless telephone service, installations and/or the traffic  associated with service, (iii) data processing services or billing systems,  and (iv) communication and data equipment.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| • | The effects of greater than  anticipated competition, including, without limitation, competition requiring  new pricing or marketing strategies or new product offerings, the attendant  risk that HickoryTech will not be able to respond on a timely or profitable  basis and the competitive effect of relationships with other carriers causing  new pricing on services such as wireless roaming agreements and interexchange  access charges.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
| • | The risks inherent in rapid  technological change, including, without limitation, the risk that  technologies will not be procured by HickoryTech on a timely or  cost-effective basis or perform according to expectations.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| • | Regulatory limits on  HickoryTech’s ability to change its prices for telephone services in response  to competitive pressures.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
| • | HickoryTech’s ability to  effectively manage its growth, including, without limitation, HickoryTech’s  ability to (i) integrate the operations of Crystal and MSWC into  HickoryTech’s operations, (ii) manage NIBI’s development of and migration to  SuiteSolution as its new primary software platform, (iii) achieve projected  economies of scale and cost savings, (iv) meet pro forma cash flow  projections developed by management in valuing newly-acquired businesses, (v)  conform with existing debt covenants and negotiate new debt facilities which  conform with evolving business plans and (vi) implement necessary internal  controls and retain and attract key personnel.                                                                                                                                                                                                                                                                                                                          |
| • | Any difficulties in  HickoryTech’s ability to expand through additional acquisitions, whether caused  by financing constraints, a decrease in the pool of attractive target  companies, or competition for acquisitions from other interested buyers.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| • | The lack of assurance that  HickoryTech can compete effectively against superior capitalized competitors  or competitors with a larger national or regional market niche.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| • | The effects of more general  factors, including, without limitation:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|   | -                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | Changes in general industry and  market conditions and growth rates. |   |
|   | -                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | Changes in interest rates or  other general national, regional, or local economic conditions. |   |
|   | -                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | Changes in legislation,  regulation or public policy. |   |
|   | -                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | Unanticipated increases in  capital, operating or administrative costs, or the impact of new business  opportunities requiring significant up-front investments. |   |
|   | -                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | The continued availability of  financing in amounts, terms and conditions necessary to support HickoryTech’s  operations. |   |
|   | -                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | Changes in HickoryTech’s  relationships with vendors. |   |
|   | -                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | Changes in HickoryTech’s debt  ratios and the resultant effect on debt ratings. |   |
|   | -                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | Unfavorable outcomes of  regulatory or legal proceedings. |   |
|   | -                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | Changes in accounting policies  or practices adopted voluntarily or as required by generally accepted  accounting principles. |   |
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