Exhibit 99.1

                          INDEPENDENT AUDITOR'S REPORT


Board of Directors
BELMONT TELEPHONE COMPANY
Madison, Wisconsin


We have audited the  accompanying  statements of income,  retained  earnings and
cash flows of Belmont  Telephone  Company for the year ended  December 31, 2002.
These financial  statements are the responsibility of the Company's  management.
Our responsibility is to express an opinion on these financial  statements based
on our audit.

We conducted our audit in accordance with auditing standards  generally accepted
in the United States of America and Government Auditing Standards, issued by the
Comptroller  General of the United States.  Those standards require that we plan
and perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement.  An audit includes examining, on a
test basis,  evidence  supporting  the amounts and  disclosures in the financial
statements.  An audit also includes assessing the accounting principles used and
significant  estimates  made by  management,  as well as evaluating  the overall
financial  statement  presentation.   We  believe  that  our  audit  provides  a
reasonable basis for our opinion.

In our opinion,  the financial  statements  referred to above present fairly, in
all  material  respects,  the  results of  operations  and cash flows of Belmont
Telephone  Company  for the year ended  December  31,  2002 in  conformity  with
accounting principles generally accepted in the United States of America.

In accordance with Government Auditing  Standards,  we have also issued a report
dated January 16, 2003 on our  consideration  of the Company's  internal control
over financial reporting and our tests of its compliance with certain provisions
of laws, regulations and contracts.  That report is an integral part of an audit
performed in accordance with Government Auditing Standards and should be read in
conjunction with this report in considering the results of our audit.



                                                    SIEPERT & CO. LLP
                                                   Certified Public Accountants

Beloit, Wisconsin
January 16, 2003


<PAGE>




                          INDEPENDENT AUDITOR'S REPORT



Board of Directors
CUBA CITY TELEPHONE EXCHANGE COMPANY
Madison, Wisconsin


We have audited the  accompanying  statements of income,  retained  earnings and
cash flows of Cuba City Telephone  Exchange  Company for the year ended December
31, 2002.  These financial  statements are the  responsibility  of the Company's
management.  Our  responsibility  is to express  an  opinion on these  financial
statements based on our audit.

We conducted our audit in accordance with auditing standards  generally accepted
in the United States of America and Government Auditing Standards, issued by the
Comptroller  General of the United States.  Those standards require that we plan
and perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement.  An audit includes examining, on a
test basis,  evidence  supporting  the amounts and  disclosures in the financial
statements.  An audit also includes assessing the accounting principles used and
significant  estimates  made by  management,  as well as evaluating  the overall
financial  statement  presentation.   We  believe  that  our  audit  provides  a
reasonable basis for our opinion.

In our opinion,  the financial  statements  referred to above present fairly, in
all material  respects,  the results of  operations  and cash flows of Cuba City
Telephone  Exchange  Company for the year ended  December 31, 2002 in conformity
with accounting principles generally accepted in the United States of America.

In accordance with Government Auditing  Standards,  we have also issued a report
dated January 16, 2003 on our  consideration  of the Company's  internal control
over financial reporting and our tests of its compliance with certain provisions
of laws, regulations and contracts.  That report is an integral part of an audit
performed in accordance with Government Auditing Standards and should be read in
conjunction with this report in considering the results of our audit.



                                                  SIEPERT & CO. LLP
                                                  Certified Public Accountants

Beloit, Wisconsin
January 16, 2003



<PAGE>




                          INDEPENDENT AUDITOR'S REPORT

Board of Directors
UPPER PENINSULA TELEPHONE COMPANY
Carney, Michigan

We have audited the accompanying statements of income,  stockholder's equity and
cash flows of Upper Peninsula  Telephone Company for the year ended December 31,
2002.  These  financial  statements  are  the  responsibility  of the  company's
management.  Our  responsibility  is to express  an  opinion on these  financial
statements based on our audit.

We conducted our audit in accordance with auditing standards  generally accepted
in the United States of America and Government  Auditing Standards issued by the
Comptroller  General of the United States.  Those standards require that we plan
and perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement.  An audit includes examining, on a
test basis,  evidence  supporting  the amounts and  disclosures in the financial
statements.  An audit also includes assessing the accounting principles used and
significant  estimates  made by  management,  as well as evaluating  the overall
financial  statement  presentation.   We  believe  that  our  audit  provides  a
reasonable basis for our opinion.

In our opinion,  the financial  statements  referred to above present fairly, in
all  material  respects,  the  results  of  operations  and cash  flows of Upper
Peninsula  Telephone  Company for the year ended December 31, 2002 in conformity
with accounting principles generally accepted in the United States of America.


Board of Directors
UPPER PENINSULA TELEPHONE COMPANY
Carney, Michigan

In accordance with Government Auditing  Standards,  we have also issued a report
dated January 17, 2003 on our  consideration  of the Company's  internal control
over financial reporting and our tests of its compliance with certain provisions
of laws, regulations and contracts.  That report is an integral part of an audit
performed in accordance with Government Auditing Standards and should be read in
conjunction with this report in considering the results of our audit.


                                                  SIEPERT & CO. LLP
                                                  Certified Public Accountants

Beloit, Wisconsin

January 17, 2003