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                                                                      EXHIBIT 11

                                 INTERCEL, INC.
                         EARNINGS PER SHARE CALCULATION


PRIMARY & FULLY DILUTED EARNINGS PER SHARE:       
<TABLE>
<CAPTION>

                                          THREE MONTHS ENDED        THREE MONTHS ENDED     
                                          SEPTEMBER 30, 1996        SEPTEMBER 30, 1995     
                                        -----------------------   -----------------------  
                                               ( IN 000'S, EXCEPT PER SHARE DATA)

<S>                                        <C>                          <C>        
Net (Loss) Income                          $        60                  $       788
                                                                                   
Weighted average shares outstanding         26,808,898                    9,956,099
Common stock equivalents outstanding (a)       656,711                      438,196
                                           -----------                  -----------
                                            27,465,609                   10,394,295
                                           -----------                  -----------
                                                                                   
Earnings per share                         $      .002                  $      0.08
                                           ===========                  ===========
                                                                                        
</TABLE>
<TABLE>
<CAPTION>

                                            NINE MONTHS ENDED        NINE MONTHS ENDED                             
                                            SEPTEMBER 30, 1996       SEPTEMBER 30, 1995    
                                          -----------------------  ----------------------
                                               ( IN 000'S, EXCEPT PER SHARE DATA)

<S>                                       <C>                                 <C>     
Net (Loss) Income                         $       (860)                       2,361   

Weighted average shares outstanding         24,513,489                    9,922,880  
Common stock equivalents outstanding (a)           (b)                      362,131 
                                          ------------                   ---------- 
                                            24,513,489                   10,285,011 
                                          ------------                   ---------- 
                                                                                  
Earnings per share                        $      (0.04)                        0.23 
                                          ============                   ========== 
                                                                       
</TABLE>

(a)      Common stock equivalents outstanding includes the dilutive effect of
         all outstanding options and warrants calculated using the average stock
         price for each period under the treasury stock method

(b)      Excludes 989,544 common stock equivalents (as calculated under the
         treasury stock method) for the nine months ended September 30, 1996 as
         inclusion of such equivalents would have an anti-dilutive effect on
         earnings per share for that period.