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Exhibit 11

CT COMMUNICATIONS, INC.
AND SUBSIDIARIES

Computation of Earnings Per Share
(in thousands, except share and per share data)

|                                                                  |  |                             |            |                           |  |            |            |      |  |   |            |            |  |   |            | 
|----------------------------------------------------------------- |  | --------------------------- | ---------- | ------------------------- |  | ---------- | ---------- | ---- |  | - | ---------- | ---------- |  | - | ---------- | 
|                                                                  |  | Three months ended June 30, |            | Six months ended June 30,
|                                                                  |  |                             |            |                          
|                                                                  |  |                             |            |                           |  | (Restated) |            |      |  |   |            | (Restated)
|                                                                  |  | 2003                        |            | 2002                      |  | 2003       |            | 2002
|                                                                  |  |                             |            |                           |  |            |            |     
|Computation of share totals used in
computing earnings per share: |  |                             |            |                           |  |            |            |      |  |   |            |            |  |   |            | 
|Weighted average number of shares
outstanding                     |  |                             | 18,739,580 |                           |  |            | 18,734,756 |      |  |   | 18,727,943 |            |  |   | 18,746,997 | 
|Basic average shares outstanding (a)                              |  |                             | 18,739,580 |                           |  |            | 18,734,756 |      |  |   | 18,727,943 |            |  |   | 18,746,997 | 
|Incremental shares arising from
outstanding stock options         |  |                             | 42,051     |                           |  |            | 39,836     |      |  |   | 20,158     |            |  |   | 43,138     | 
|                                                                  |  |                             |            |                           |  |            |            |      |  |   |            |            |  |   |            | 
|Totals (b)                                                        |  |                             | 18,781,631 |                           |  |            | 18,774,592 |      |  |   | 18,748,101 |            |  |   | 18,790,135 | 
|                                                                  |  |                             |            |                           |  |            |            |      |  |   |            |            |  |   |            | 
|Earnings for common stock (c)                                     |  | $                           | 10,353     |                           |  | $          | 2,672      |      |  | $ | 12,830     |            |  | $ | 5,404      | 
|                                                                  |  |                             |            |                           |  |            |            |      |  |   |            |            |  |   |            | 
|Earnings per share basic (c)/(a)                                  |  | $                           | 0.55       |                           |  | $          | 0.14       |      |  | $ | 0.69       |            |  | $ | 0.29       | 
|                                                                  |  |                             |            |                           |  |            |            |      |  |   |            |            |  |   |            | 
|Earnings per share assuming full
dilution (c)/(b)                 |  | $                           | 0.55       |                           |  | $          | 0.14       |      |  | $ | 0.68       |            |  | $ | 0.29       | 
|                                                                  |  |                             |            |                           |  |            |            |      |  |   |            |            |  |   |            |