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| T | ANNUAL      REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF      1934 |
|---|------------------------------------------------------------------------------------------------|

| For      the fiscal year ended   | December 31,2007 |
|--------------------------------------------|------------------|

| £ | TRANSITION      REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF      1934 |
|--------|----------------------------------------------------------------------------------------------------|

| For      the transition period from |   | to |   |
|-------------------------------------|--------|----|--------|

| Alltel      Corporation                                    |
|------------------------------------------------------------|
| (Exact      name of registrant as specified in itscharter) |

| Delaware                                                                 | 34-0868285                                |
|--------------------------------------------------------------------------|-------------------------------------------|
| (State      or other jurisdiction of incorporation      or organization) | (I.R.S.      Employer Identification No.) |

| One Allied Drive, Little Rock,      Arkansas  | 72202           |
|-----------------------------------------------|-----------------|
| (Address      of principal executive offices) | (Zip      Code) |

| Registrant's      telephone number, including area code | (501)905-8000 |
|---------------------------------------------------------|---------------|

| NONE                  |
|-----------------------|
| (Title      of Class) |

| NONE                  |
|-----------------------|
| (Title      of Class) |

| Large      accelerated filer  £ | Accelerated      filer  £ | Non-accelerated      filer  T | Smaller      reporting company  £ |
|------------------------------------------------|------------------------------------------|-----------------------------------------|--------------------------------------------------|

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Alltel

|          | Page No.                                                                                                                     |
|---------------|------------------------------------------------------------------------------------------------------------------------------|
| Part      I   |
| Item      1.  | Business                                                                                                                     |   1 |
| Item      1A. | Risk Factors                                                                                                                 | 12 |
| Item      1B. | Unresolved Staff Comments                                                                                                    | 18 |
| Item      2.  | Properties                                                                                                                   | 18 |
| Item      3.  | Legal Proceedings                                                                                                            | 18 |
| Item      4.  | Submission of Matters to a Vote of Security      Holders                                                                     | 18 |
|          |
| Part      II  |
| Item      5.  | Market for Registrant’s Common Equity, Related Stockholder      Matters and Issuer Purchases of      Equity Securities | 19 |
| Item      6.  | Selected Financial Data                                                                                                      | 19 |
| Item      7.  | Management’s Discussion and Analysis of Financial Condition and      Results of Operations                             | 19 |
| Item      7A. | Quantitative and Qualitative Disclosures About Market      Risk                                                              | 19 |
| Item      8.  | Financial Statements and Supplementary Data                                                                                  | 19 |
| Item      9.  | Changes in and Disagreements with Accountants on Accounting and      Financial Disclosure                                    | 19 |
| Item      9A. | Controls and Procedures                                                                                                      | 19 |
| Item      9B. | Other Information                                                                                                            | 20 |
|          |
| Part      III |
| Item      10. | Directors, Executive Officers and Corporate      Governance                                                                  | 20 |
| Item      11. | Executive Compensation                                                                                                       | 22 |
| Item      12. | Security Ownership of Certain Beneficial Owners and Management      and Related Stockholder      Matters                     | 57 |
| Item      13. | Certain Relationships and Related Transactions and Director      Independence                                                | 58 |
| Item      14. | Principal Accountant Fees and Services                                                                                       | 59 |
|          |
| Part      IV  |
| Item      15. | Exhibits and Financial Statement Schedules                                                                                   | 61 |

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|   | · | increase      our vulnerability to general adverse economic, industry and competitive      conditions; |
|--------|--------|--------------------------------------------------------------------------------------------------------|

|   | · | require      us to dedicate a substantial portion of cash flows from operations to      interest and principal payments on outstanding debt, thereby limiting the      availability of cash flow to fund future capital expenditures, working      capital and other general corporate  requirements; |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | limit      our flexibility in planning for, or reacting to, changes in our business      and the telecommunicationsindustry; |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------|

|   | · | place      us at a competitive disadvantage compared with competitors that have less      debt; and |
|--------|--------|-----------------------------------------------------------------------------------------------------|

|   | · | limit      our ability to borrow additional funds, even when necessary to maintain      adequate liquidity. |
|--------|--------|-------------------------------------------------------------------------------------------------------------|

|   | · | incur      additional debt or issue certain preferred  shares; |
|--------|--------|----------------------------------------------------------------|

|   | · | pay      dividends on or make other distributions in respect of our restricted      subsidiaries’ capital stock or redeem, repurchase or retire our restricted      subsidiaries’ capital stock or subordinated debt or make certain other      restricted payments; |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | make      certain investments; |
|--------|--------|--------------------------------|

|   | · | engage      in certain transactions with ouraffiliates; |
|--------|--------|---------------------------------------------------------|

|   | · | sell      certain assets, or consolidate, merge, sell or otherwise dispose of all or      substantially all of our assets; |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------|

|   | · | create      liens on certain assets to secure debt;and |
|--------|--------|--------------------------------------------------------|

|   | · | designate      subsidiaries as restrictedsubsidiaries. |
|--------|--------|--------------------------------------------------------|

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esolv

ropert

|                               |   | (Millions) |
|------------------------------------|--------|------------|
| Land      and improvements         |   | $          | 251.1 |
| Buildings      and improvements    |   |       | 836.4 |
| Operating      plant and equipment |   |       | 3,650.3 |
| Information      processing        |   |       | 368.8 |
| Furniture      and fixtures        |   |       | 99.8 |
| Total                              |   | $          | 5,206.4 |

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| Item      5. | Market for Registrant's Common Equity, Related Stockholder Matters and      Issuer Purchases of EquitySecurities |
|--------------|------------------------------------------------------------------------------------------------------------------|

ecte

gemen

ntitati

ancia

nges

trols

|  | (a) | Evaluation      of disclosure controls andprocedures. |
|--|-----|-------------------------------------------------------|

|  | (b) | Management’s      report on internal control over financial  reporting. |
|--|-----|-------------------------------------------------------------------------------|

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|  | (c) | Changes      in internal control over financialreporting. |
|--|-----|-----------------------------------------------------------|

ther

ectors

| Name                     | Age | Position                                             |
|--------------------------|-----|------------------------------------------------------|
| Scott      T. Ford       | 45  | President,      Chief Executive Officer and Director |
| James      Coulter       | 48  | Director                                             |
| Gene      Frantz         | 41  | Director                                             |
| Joseph      H. Gleberman | 50  | Director                                             |
| John      W. Marren      | 45  | Director                                             |
| Leo      F. Mullin       | 65  | Director                                             |
| Peter      Perrone       | 40  | Director                                             |

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| Name                     | Age | Position                                                      |
|--------------------------|-----|---------------------------------------------------------------|
| Jeffrey      H. Fox      | 46  | Chief      Operating Officer                                  |
| C.J.      Duvall Jr.     | 49  | Executive      Vice President – Human Resources         |
| Sharilyn      S. Gasaway | 39  | Executive      Vice President – Chief Financial Officer |
| Richard      N. Massey   | 51  | Chief      Strategy Officer and General Counsel               |
| Sue      P. Mosley       | 49  | Controller                                                    |
| Holly      L. Larkin     | 35  | Treasurer      and Secretary                                  |

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|   | · | Scott T. Ford,      President and Chief ExecutiveOfficer |
|--------|--------|--------------------------------------------------------------------|

|   | · | Sharilyn S. Gasaway,      Executive Vice President and Chief Financial  Officer |
|--------|--------|-------------------------------------------------------------------------------------------|

|   | · | Jeffrey      H. Fox, Chief Operating Officer |
|--------|--------|----------------------------------------------|

|   | · | Richard N. Massey,      Chief Strategy Officer and GeneralCounsel |
|--------|--------|-----------------------------------------------------------------------------|

|   | · | C.J. Duvall,      Executive Vice President, HumanResources |
|--------|--------|-----------------------------------------------------------------|

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| Alcatel      USA, Inc.               | Global      Crossing Ltd.                      |
|--------------------------------------|------------------------------------------------|
| AT&      T Inc.                  | Motorola,      Inc.                            |
| CenturyTel,      Inc.                | Qwest      Communications International Inc.   |
| Charter      Communications, Inc.    | Sprint      Nextel Corporation                 |
| Cingular      Wireless, LLC          | Telephone      & Data Systems, Inc.        |
| Citizens      Communications Company | Verizon      Communications Inc.               |
| Comcast      Corporation             | Cellco      Partnership d/b/a Verizon Wireless |
| Embarq      Corporation              |                                           |

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|   | · | base      salary; |
|--------|--------|-------------------|

|   | · | annual      incentive compensation; |
|--------|--------|-------------------------------------|

|   | · | long-term      incentive compensation; |
|--------|--------|----------------------------------------|

|   | · | retirement      and welfare benefits; and |
|--------|--------|-------------------------------------------|

|   | · | perquisites. |
|--------|--------|--------------|

| Named Executive      Officer |   | Base Salary PercentageIncrease Fiscal Year      2007 |
|------------------------------|--------|------------------------------------------------------|
| Scott T. Ford                |   |                                                 | 28.2% |
| Sharilyn S.      Gasaway     |   |                                                 | 7.5% |
| Jeffrey H.      Fox          |   |                                                 | 3.5% |
| Richard N.      Massey       |   |                                                 | 3.5% |
| C.J.      Duvall             |   |                                                 | 3.5% |
| Kevin L.      Beebe          |   |                                                 | 3.5% |

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|                       |   |  Annual Incentive      OpportunityAs a Percentage of Base      Salary |
|----------------------------|--------|----------------------------------------------------------------------------|
| Named Executive    Officer |   | Threshold                                                                  |   |   | Target |   |   | Maximum |
| Scott T. Ford              |   |                                                                       | 65% |   |   |   | 130% |   |   |   | 260% |
| Sharilyn S. Gasaway        |   |                                                                       | 40% |   |   |   | 80% |   |   |   | 160% |
| Jeffrey H. Fox             |   |                                                                       | 50% |   |   |   | 100% |   |   |   | 200% |
| Richard N. Massey          |   |                                                                       | 50% |   |   |   | 100% |   |   |   | 200% |
| C.J. Duvall                |   |                                                                       | 30% |   |   |   | 60% |   |   |   | 120% |
| Kevin L. Beebe             |   |                                                                       | 50% |   |   |   | 100% |   |   |   | 200% |

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|                         |   | Long-Term Cash Opportunity for 2007 Awards as a      Percentage of Base Salary |
|------------------------------|--------|--------------------------------------------------------------------------------|
| Named      Executive Officer |   | Threshold                                                                      |   |   | Target |   |   | Maximum |
| Scott T. Ford                |   |                                                                           | 65.0% |   |   |   | 130.0% |   |   |   | 195.0% |
| Sharilyn S. Gasaway          |   |                                                                           | 37.5% |   |   |   | 75.0% |   |   |   | 112.5% |
| Jeffrey H. Fox               |   |                                                                           | 50.0% |   |   |   | 100.0% |   |   |   | 150.0% |
| Richard N. Massey            |   |                                                                           | 50.0% |   |   |   | 100.0% |   |   |   | 150.0% |
| C.J. Duvall                  |   |                                                                           | 37.5% |   |   |   | 75.0% |   |   |   | 112.5% |
| Kevin L. Beebe               |   |                                                                           | 50.0% |   |   |   | 100.0% |   |   |   | 150.0% |

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|   | · | Qualified Retirement Plan      Arrangements.  The Alltel 401(k) Plan and Alltel Profit      Sharing Plan generally have been available to all employees of the      Company.  The Alltel Pension Plan was generally available to all      employees prior to the closing of participation on December 31,      2005.  These plans are qualified retirement plans that provide a      retirement benefit on a tax-deferred basis and the Named Executive      Officers are generally eligible to participate in these plans upon      satisfying the plans’ eligibility requirements.  Neither the      Alltel 401(k) Plan, Alltel Profit Sharing Plan nor Alltel Pension Plan      were impacted as a result of the Merger and all of these plans remain      generally available to all employees of the Company, including the Named      Executive Officers.  The benefits provided to the Named      Executive Officers through the Alltel Pension Plan are described in the      Pension Benefits Table on page 45. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Non-qualified Retirement Plan      Arrangements.  Messrs. Ford, Fox, Massey, Beebe and Ms.      Gasaway are eligible for non-qualified executive retirement benefits      through the Alltel Benefit Restoration Plan and prior to the Merger were      eligible for benefits under the Alltel Supplemental Executive Retirement      Plan (the “SERP”).  These benefits were intended to provide      retirement benefits on a tax-deferred basis in excess of the benefits      provided under the Company’s qualified retirement plans and an additional      health and welfare benefit, as described on page 47 under the caption      “Alltel Corporation Supplemental Executive Retirement      Plan.”  The Committee targeted these non-qualified retirement      benefits at between 40% and 60% of the executive’s current compensation at      retirement when combined with other retirement benefits.  The      Committee believed that such an overall retirement benefit was appropriate      and necessary to assist in assuring the retention of the Named Executive      Officers.  Following the Merger, the Named Executive Officers      remain eligible for non-qualified retirement benefits through the Alltel      Benefit Restoration Plan.  For a description of these benefits      and how they were treated in connection with the Merger, please see the      narrative to the Pension Benefits table on page 46.  The SERP      was terminated in connection with the Merger and a cash payment was made      to participants for consideration of their accrued benefit as if they had      terminated employment after the change in control.  This payment      was made to encourage executives to remain employed in their current      positions and to remove any incentive they might have for greater benefits      by terminating after a change incontrol. |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Deferred Compensation      Arrangements.  The Named Executive Officers are eligible      to defer a portion of their current compensation under a non-qualified      deferred compensation arrangement provided by the Company.  This      benefit is provided to the Company’s executive management personnel,      including the Named Executive Officers, and is intended to allow      participants to defer compensation in excess of Internal Revenue Service      (“IRS”) deferral limits under qualified deferred compensation      arrangements.  These benefits are provided through the Alltel      Benefit Restoration Plan and the Alltel 1998 Management Deferred      Compensation Plan, which are further described in the narrative to the      Non-Qualified Deferred Compensation table on page 47.  The Chief      Executive Officer designates participants for the 1998 Deferred      Compensation Plan, while the Chief Executive Officer or the Committee may      designate participants for the Benefit Restoration      Plan.  Additionally, Mr. Beebe earned interest on frozen      accruals credited to the 360 Communications Deferred Compensation Plan and      the 360 Communications Retirement Savings Restoration  Plan. |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Employee Stock Purchase Plan. Prior      to the Merger, the Alltel Employee Stock Purchase Plan was generally      available to all employees.  This plan provided employees with      an opportunity to acquire an ownership interest in the Company through a      payroll deduction program.  The Alltel Employee Stock Purchase      Plan was terminated in connection with the  Merger. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Active and Post-Retirement      Health Benefits.  While they are active employees, the      Company provides the Named Executive Officers a $3,000 annual supplemental      health benefit, in addition to the same health and welfare benefits      provided generally to all other employees of the Company at the same      general premium rates as charged to such employees.  Prior to      the Merger, the Company provided a post-retirement health and welfare      benefit under the Supplemental Executive Retirement Plan, as described on      page 47.  The Supplemental Executive Retirement Plan was      terminated in connection with the Merger, and the health and welfare      benefit was converted into a right to receive a cash equivalent payment      upon termination based on an actuarial calculation described on page      51. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|                                                                    |
|-------------------------------------------------------------------------|
| Summary Compensation  Table                                             |
|        Name and Principal Position                                 |   | Year |   | Salary |   |   | Bonus (1) |   |   | Stock Awards (2) |   |   | Option Awards (3) |   |   | Non-Equity Incentive Plan      Compensation(4) |   |   | Change in Pension Value and Non-Qualified Deferred      Compensation Earnings (5) |   |   | All Other Compensation(6) |   |   | Total |
| Scott      T. Ford                                                      |   | 2007 |   | $ | 1,228,846 |   |   |   | -- |   |   | $ | 2,981,063 |   |   | $ | 6,628,073 |   |   | $ | 7,488,975 |   |   | $ | 758,082 |   |   | $ | 108,638,494 |   |   | $ | 127,723,533 |
| President and Chief Executive      Officer                              |   | 2006 |   | $ | 971,154 |   |   |   | -- |   |   | $ | 1,770,188 |   |   | $ | 2,549,885 |   |   | $ | 4,427,692 |   |   | $ | 3,036,720 |   |   | $ | 1,360,131 |   |   | $ | 14,115,770 |
| Sharilyn      S. Gasaway                                                |   | 2007 |   | $ | 395,615 |   |   | $ | 1,000,000 |   |   | $ | 1,478,475 |   |   | $ | 2,407,663 |   |   | $ | 1,408,666 |   |   | $ | 4,715 |   |   | $ | 29,990,600 |   |   | $ | 36,685,734 |
| Executive Vice President – Chief Financial      Officer           |   | 2006 |   | $ | 362,693 |   |   |   | -- |   |   | $ | 588,125 |   |   | $ | 404,898 |   |   | $ | 743,677 |   |   | $ | 415,117 |   |   | $ | 358,390 |   |   | $ | 2,872,900 |
| Jeffrey H. Fox                                                          |   | 2007 |   | $ | 696,808 |   |   |   | -- |   |   | $ | 2,168,046 |   |   | $ | 4,181,201 |   |   | $ | 3,168,381 |   |   | $ | 722,703 |   |   | $ | 48,416,546 |   |   | $ | 59,353,685 |
| Chief Operating    Officer                                              |   | 2006 |   | $ | 673,077 |   |   |   | -- |   |   | $ | 1,296,754 |   |   | $ | 1,492,383 |   |   | $ | 2,151,441 |   |   | $ | 2,528,683 |   |   | $ | 912,580 |   |   | $ | 9,054,918 |
| Richard      N. Massey                                                  |   | 2007 |   | $ | 516,154 |   |   | $ | 1,000,000 |   |   | $ | 1,591,988 |   |   | $ | 2,114,110 |   |   | $ | 2,343,338 |   |   | $ | 20,490 |   |   | $ | 43,276,363 |   |   | $ | 50,862,443 |
| Chief Strategy Officer and General      Counsel                         |   | 2006 |   | $ | 490,384 |   |   |   | --- |   |   | $ | 474,872 |   |   | $ | 218,222 |   |   | $ | 1,625,913 |   |   | $ | 9,852 |   |   | $ | 280,430 |   |   | $ | 3,099,673 |
|  C.      J. Duvall, Executive Vice President, Human      Resources |   | 2007 |   | $ | 325,177 |   |   | $ | 1,000,000 |   |   | $ | 1,035,481 |   |   | $ | 1,035,384 |   |   | $ | 1,011,613 |   |   | $ | 171,887 |   |   | $ | 4,999,280 |   |   | $ | 9,578,822 |
| Kevin      L. Beebe                                                     |   | 2007 |   | $ | 629,632 |   |   |   | -- |   |   | $ | 2,168,046 |   |   | $ | 3,944,371 |   |   | $ | 2,797,057 |   |   | $ | 90,932 |   |   | $ | 51,411,004 |   |   | $ | 61,041,042 |
| Group President                                                         |   | 2006 |       | $ | 673,077 |   |   |   | -- |   |   | $ | 1,296,754 |   |   | $ | 1,492,383 |   |   | $ | 2,151,441 |   |   | $ | 2,186,557 |   |   | $ | 942,961 |   |   | $ | 8,743,173 |

| (1) | This      column shows bonuses awarded to Ms. Gasaway, Mr. Massey, and Mr. Duvall at      the discretion of the Chief Executive Officer for the officers’ efforts in      connection with the Merger. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | This      column shows the aggregate dollar amount of compensation cost recognized      for financial statement reporting purposes for the fiscal years ending      December 31, 2007 and 2006, in accordance with Statement of Financial      Accounting Standards No. 123 Revised, “Share-Based Payment” (“FAS 123R”),      for outstanding restricted stock awards (whether or not granted during the      year), except that the amount presented for 2006 differs from the actual      amount of compensation expense recognized for financial statement purposes      in that it has not been reduced for estimated pre-vest forfeitures.      Because the awards have vesting conditions, compensation costs are      recognized over multiple years.  As a result, the amount in this      column reflects the FAS 123R compensation costs of awards granted in years      prior to 2007 and in 2007.  Additional assumptions made in the      valuation and expensing of these awards are set forth in footnote 9 to      Alltel’s Consolidated Financial Statements for the fiscal year ended      December 31, 2007, included in this Annual Report on Form      10-K. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| (3) | This      column shows the aggregate dollar amount of compensation cost recognized      for financial statement reporting purposes for the fiscal years ending      December 31, 2007 and 2006, in accordance with FAS 123R, for outstanding      stock option awards (whether or not granted during the year), except that      the amount presented for 2006 differs from the actual amount of      compensation expense recognized for financial statement purposes in that      it has not been reduced for estimated pre-vest forfeitures. Because the awards      have vesting conditions, compensation costs are recognized over multiple      years.   As a result, the amount in this column reflects      the FAS 123R compensation cost of awards granted in years prior to 2007      and in 2007.  Additional assumptions made in the valuation and      expensing of these awards are set forth in footnote 9 to Alltel’s      Consolidated Financial Statements for the fiscal year ended December 31,      2007, included in this Annual Report on Form  10-K. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (4) | This      column shows the sum of the awards earned by our Named Executive Officers      during 2007 and 2006 under the Performance Incentive Compensation Plan and      the Long-Term Performance Incentive Compensation Plan.  The      separate values for each award for 2007 are set forth in the table      below.  For information on the structure of Alltel’s Performance      Incentive Compensation Plan and Long-Term Performance Incentive      Compensation Plan, refer to the Compensation Discussion and Analysis      portion of this report, beginning on page22. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Name                |   | Annual Incentive Cash Award    (i) |      |   | Long-Term Incentive Cash Award for the 2005-2007      Cycle (ii) |   |      | Long-Term Incentive Cash Award for the 2006-2008      Cycle (ii) |   |   | Long-Term Incentive Cash Award for the 2007-2009      Cycle (ii) |   |   | Total |
|---------------------|--------|------------------------------------|-----------|--------|------------------------------------------------------------------|--------|-----------|------------------------------------------------------------------|--------|--------|------------------------------------------------------------------|--------|--------|-------|
| Scott T. Ford       |   | $                                  | 3,250,000 |   |                                                             | $      | 1,720,225 |                                                             |   | $      | 1,679,167                                                        |   |   | $     | 839,583 |   |   | $ | 7,488,975 |
| Sharilyn S. Gasaway |   | $                                  | 636,400   |   |                                                             | $      | 309,882   |                                                             |   | $      | 308,256                                                          |   |   | $     | 154,128 |   |   | $ | 1,408,666 |
| Jeffrey H. Fox      |   | $                                  | 1,397,250 |   |                                                             | $      | 688,262   |                                                             |   | $      | 721,913                                                          |   |   | $     | 360,956 |   |   | $ | 3,168,381 |
| Richard N. Massey   |   | $                                  | 1,035,000 |   |                                                             | $      | 506,213   |                                                             |   | $      | 534,750                                                          |   |   | $     | 267,375 |   |   | $ | 2,343,338 |
| C. J. Duvall        |   | $                                  | 391,230   |   |                                                             | $      | 241,379   |                                                             |   | $      | 252,669                                                          |   |   | $     | 126,335 |   |   | $ | 1,011,613 |
| Kevin L. Beebe      |   | $                                  | 1,224,986 |   |                                                             | $      | 610,265   |                                                             |   | $      | 655,559                                                          |   |   | $     | 306,247 |   |   | $ | 2,797,057 |

|   | (i) | This      column reflects the annual incentive cash award earned by our Named      Executive Officers under the Performance Incentive Compensation Plan for      2007.  As a result of the Merger, these awards were calculated      and paid assuming maximumperformance. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | These      columns reflect the long-term incentive cash awards earned by our Named      Executive Officers under the Long-Term Performance Incentive Compensation      Plan for the 2005-2007, 2006-2008 and 2007-2009 performance      cycles.  As a result of the Merger, these awards were calculated      based on maximum performance, as required and defined under the pre-Merger      Change in Control Agreements and the resulting amounts were (i) paid in      full for the 2005-2007 performance cycle and (ii) prorated for the      2006-2008 and 2007-2009 performance cycles based on the period of time      between the first day of the applicable performance cycle and December 31,      2007.  With respect to Mr. Beebe, his long-term cash incentive      awards were prorated through his termination  date. |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (5) |   | This      column shows the sum of thefollowing: |
|-----|--------|-------------------------------------------------|

|   | (i) | The      increase from December 31, 2006 through December 31, 2007 (the measurement      date used for reporting purposes in Alltel’s Annual Report on Form 10-K      for the year ended December 31, 2007) in the present value of the      accumulated benefits under the Pension Plan and Benefit Restoration Plan      (assumptions are based upon (A) 1994 Group Annuity Mortality for males and      females as of December 31, 2006 and the RP-2000 Combined Healthy Lives      table (projected to 2008) as of December 31, 2007; (B) a 5.94% discount      rate at December 31, 2006 and a 6.55% discount rate at December 31, 2007;      (C) the Named Executive Officer working until his or her retirement age as      explained in the narrative under Pension Benefits on page 46; and (D) each      Named Executive Officer being married). See the “Pension Benefit” section      for information regarding the supplemental retirement portion of the SERP,      which was cashed-out as a result of the Merger;  and |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | The      above-market earnings on compensation deferred under Alltel’s deferred      compensation arrangements. |
|--------|------|-----------------------------------------------------------------------------------------------------------------------|

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| Name                |   | Change in Pension Value (a) |    |   | Above-Market Earnings under the      1998 Management Deferred Compensation Plan (b) |   |                                            | Total  |
|---------------------|--------|-----------------------------|---------|--------|------------------------------------------------------------------------------------------|--------|-------------------------------------------------|--------|
| Scott T. Ford       |   | $                           | 667,578 |   |                                                                                     |   | $  90,504                                  |   |   | $ | 758,082 |
| Sharilyn S. Gasaway |   | $                           | 0       |   |                                                                                     |   | $    4,715                       |   |   | $ | 4,715 |
| Jeffrey H. Fox      |   | $                           | 343,726 |   |                                                                                     |   | $378,977                                        |   |   | $ | 722,703 |
| Richard N. Massey   |   | $                           | 0       |   |                                                                                     |   | $  20,490                                  |   |   | $ | 20,490 |
| C. J. Duvall        |   | $                           | 135,996 |   |                                                                                     |   | $  35,891                                  |   |   | $ | 171,887 |
| Kevin L. Beebe      |   | $                           | 0       |   |                                                                                     |   |      $       90,932(c) |   |   | $ | 90,932 |

|   | (a) | A      negative Change in Pension Value is reported as a $0 amount in this      column.  Ms. Gasaway and Mr. Beebe had decreases in pension      value of $10,437 and $306,259, respectively.  Mr. Massey is not      a participant in either the Pension Plan or the pension portion of the      Benefit Restoration Plan and therefore there is no change to      report. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | The      amount in this column represents the excess of (a) earnings on      compensation deferred under the 1998 Management Deferred Compensation Plan      at a rate of 10.25% pre-Merger and 9.25% post-Merger, compounded annually,      over (b) 120% of the applicable federal long-term rate, compounded      annually. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | Mr.      Beebe also has above-market earnings on compensation deferred under the      360° Communications Company Benefit Restoration Plan and the 360°      Communications Company Deferred Compensation Plan, adopted by Alltel upon      its merger with 360° Communications Company on July 1,      1998.  Mr. Beebe’s above market earnings for these plans is      $9,829 which is included in thisamount. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (6) | The      following is a summary of the separate components included in the All      Other Compensation column.  The components are set forth in      three separate tables, based on the nature of the payment.  The      first table shows the perquisites for each Named Executive Officer, the      second table shows the financial and defined contribution retirement      benefits provided to each Named Executive Officer, and the third table      shows the payments received by each Named Executive Officer in connection      with the Merger. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Perquisites         |
|---------------------|
| Name                |   | Aircraft (i) |   |   | Executive Physical (ii) |   |   | TotalPerquisites |
| Scott T. Ford       |   | $ | 119,670 |   |   |   | * |   |   | $ | 120,571 |
| Sharilyn S. Gasaway |   | $ | 16,901 |   |   |   | -- |   |   | $ | 16,901 |
| Jeffrey H. Fox      |   | $ | 58,958 |   |   |   | -- |   |   | $ | 58,958 |
| Richard N. Massey   |   | $ | 92,941 |   |   |   | * |   |   | $ | 93,934 |
| C. J. Duvall (iii)  |   |   | -- |   |   |   | -- |   |   |   | -- |
| Kevin L. Beebe      |   | $ | 175,063 |   |   |   | * |   |   | $ | 176,026 |

|   | * | Value      attributable to executive is less than the greater of $25,000 or 10% of      total perquisites. |
|--------|---|------------------------------------------------------------------------------------------------------------|

|   | (i) | This      column shows the estimated incremental cost to Alltel in 2007 of providing      personal use of company-owned aircraft under Alltel’s policy. Amounts      reflect an hourly rate that is based upon the 2007 direct and incremental      expenses (including fuel, maintenance, landing fees, other associated fees      and charter fees), multiplied by the number of flight hours the executive      used during the year on the respective aircraft. Each officer pays the      required taxes on the taxable income imputed for personal usage of      corporate aircraft. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | (ii) | This      column reflects amounts paid for executive physicals, which are not      specifically stated because the amount is less than the greater of $25,000      or 10% of total perquisites. |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | The      aggregate value of all perquisites attributable to Mr. Duvall is less than      $10,000. |
|--------|-------|---------------------------------------------------------------------------------------------------|

| Name                |   | Company Contribution to the Profit Sharing Plan      (i) |   |   | Company Contribution to the      401(k)Plan (ii) |   |   | Benefit Restoration Plan Profit Sharing Credit      (iii) |   |   | Benefit Restoration Plan Matching Credit      (iv) |   |   | Restricted Stock Dividends for Unvested Shares (v) |    |   | Total Financial and Defined Contribution      Retirement Benefits |
|---------------------|--------|----------------------------------------------------------|--------|--------|--------------------------------------------------|--------|--------|-----------------------------------------------------------|--------|--------|----------------------------------------------------|--------|--------|----------------------------------------------------|---------|--------|-------------------------------------------------------------------|
| Scott T. Ford       |   | $                                                        | 4,500  |   |                                             | $      | 9,000  |                                                      |   | $      | 245,625                                            |   |   | $                                                  | 491,250 |   |                                                              | $ | 35,417 |   |   | $ | 785,792 |
| Sharilyn S. Gasaway |   | $                                                        | 4,500  |   |                                             | $      | 9,000  |                                                      |   | $      | 43,499                                             |   |   | $                                                  | 86,998  |   |                                                              | $ | 13,906 |   |   | $ | 157,903 |
| Jeffrey H. Fox      |   | $                                                        | 4,500  |   |                                             | $      | 9,000  |                                                      |   | $      | 109,083                                            |   |   | $                                                  | 218,165 |   |                                                              | $ | 25,781 |   |   | $ | 366,529 |
| Richard N. Massey   |   | $                                                        | 4,500  |   |                                             | $      | 9,000  |                                                      |   | $      | 80,208                                             |   |   | $                                                  | 160,416 |   |                                                              | $ | 12,750 |   |   | $ | 266,874 |
| C. J. Duvall        |   | $                                                        | 4,500  |   |                                             | $      | 9,000  |                                                      |   | $      | 32,210                                             |   |   | $                                                  | 64,419  |   |                                                              | $ | 12,406 |   |   | $ | 122,535 |
| Kevin L. Beebe      |   |                                                     | --     |   |                                             | $      | 9,000  |                                                      |   |   | --                                                 |   |   | $                                                  | 126,433 |   |                                                              | $ | 25,781 |   |   | $ | 161,214 |

|   | (i) | This      column shows the amount of all profit sharing contributions made for 2007      under the Alltel Corporation Profit Sharing Plan on behalf of each of the      Named Executive Officers. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | This      column shows the amount of all matching contributions made for 2007 under      the Alltel Corporation 401(k) Plan on behalf of each of the Named      Executive Officers. |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | Each      of the Named Executive Officers is eligible to participate in the profit      sharing component of the Benefit Restoration Plan. This column shows the      annual credit to each Named Executive Officer’s profit sharing account      under the Benefit Restoration Plan for2007. |
|--------|-------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iv) | Each      of the Named Executive Officers is eligible to participate in the 401(k)      plan component of the Benefit Restoration Plan. This column shows the      annual credit to each Named Executive Officer’s 401(k) plan account under      the Benefit Restoration Plan for2007. |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (v) | This      column reflects cash dividends paid on shares of Alltel restricted stock      during 2007. |
|--------|-----|------------------------------------------------------------------------------------------------------|

| Merger Related Payments |   |                                              |       |
|-------------------------|--------|---------------------------------------------------|------------|
| Name                    |   | Payout Subject to Change in Control Agreement (i) |       |   | Attributable Tax Payment (ii) |   |   | Payout of SERP (iii) |   |   | Vesting of SERP Health and Dental Benefits (iv) |   |   | Total Payments in Connection with Merger (v) |   |   | AllOther Compensation (vi) |
| Scott T. Ford           |   | $                                                 | 25,203,223 |   |   | $ | 30,863,052 |   |   | $ | 51,665,856 |   |   |   | -- |   |   | $ | 107,732,131 |   |   | $ | 108,638,494 |
| Sharilyn S. Gasaway     |   | $                                                 | 5,299,980  |   |   | $ | 10,695,754 |   |   | $ | 12,242,829 |   |   | $ | 1,577,233 |   |   | $ | 29,815,796 |   |   | $ | 29,990,600 |
| Jeffrey H. Fox          |   | $                                                 | 11,419,301 |   |   | $ | 12,998,343 |   |   | $ | 23,573,415 |   |   |   | -- |   |   | $ | 47,991,059 |   |   | $ | 48,416,546 |
| Richard N. Massey       |   | $                                                 | 8,881,076  |   |   | $ | 15,229,657 |   |   | $ | 17,671,522 |   |   | $ | 1,133,300 |   |   | $ | 42,915,555 |   |   | $ | 43,276,363 |
| C. J. Duvall            |   | $                                                 | 2,501,796  |   |   | $ | 2,374,949 |   |   |   | -- |   |   |   | -- |   |   | $ | 4,876,745 |   |   | $ | 4,999,280 |
| Kevin L. Beebe          |   | $                                                 | 11,787,604 |   |   | $ | 13,153,473 |   |   | $ | 26,132,687 |   |   |   | -- |   |   | $ | 51,073,764 |   |   | $ | 51,411,004 |

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|  | (i) | This      column shows the amount of payments made to Messrs. Ford, Fox, Massey,      Beebe and Ms. Gasaway for their change in control agreements, which      consisted of a payment equal to three (3) times the sum of      their  annual base salary at the time of the Merger plus their      maximum short-term incentive plus their maximum long-term incentive bonus      both as defined and required by their Change in Control Agreements, and      reflects the enhanced value of the SERP and pension due to 3 years      additional service credit, as well as payment equivalent to 3 years of      Company contributions to defined contribution plans.  For Mr.      Duvall, this column reflects payments equal to two (2) times the sum of      his annual base salary at the time of Merger plus his maximum short-term      incentive plus his maximum long-term incentive bonus both as defined and      required by his change in control agreement, and reflects enhanced value      of his pension due to 2 years additional service credit, as well as      payment equivalent to 2 years of Company contributions to defined      contribution plans. |
|--|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (ii) | This      column shows the amount of the tax gross-up paid by the Company on behalf      of the Named Executive Officer to federal, state and local taxing entities      to cover the executive’s cost of taxes related to Internal Revenue Code      provisions 280G and 4999 as well as income taxes related to this gross      up.  The tax gross-up was provided pursuant to the terms of the      pre-Merger Change in ControlAgreements. |
|--|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (iii) | In      connection with the Merger, each of Messrs. Ford, Fox, Massey, Beebe and      Ms. Gasaway elected to receive a lump sum payment of his or her accrued      SERP benefit, as agreed on November 15, 2007, and payable on January 2,      2008.  These payments completely discharged Alltel’s obligation      with respect to SERP benefits (other than lifetime health and dental      benefits) that accrued during their tenure with the Company.  Of      the total amount listed above, the following amounts were earned and      accrued prior to 2007, and therefore represent compensation for prior      years:   Mr. Ford - $16,847,270, Ms. Gasaway - $1,960,896,      Mr. Fox – $10,238,536, and Mr. Beebe - $11,218,949.  For Mr.      Beebe, the amount in the above column includes an additional payment to      cash-out the lifetime health and dental benefits available under the      SERP. |
|--|-------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (iv) | This      column shows the value realized from vesting of SERP health and dental      benefits for Ms. Gasaway and Mr. Massey (assuming a termination on      December 31, 2007).  This amount is calculated using a discount      rate of 6.51%, the Sex-distinct 1994 Group Annuity Mortality Table,      medical and dental trend increase of 9% in 2008 and decreasing to 5% in      2014.  Costs include spouse for life and dependent children to      age 23.   The amount shown also includes an income tax      gross up, as provided for under the terms of the SERP, of $685,308 for Ms.      Gasaway and $492,419 for Mr. Massey, based on a tax rate of      43.45%. |
|--|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (v) | In      connection with the Merger, but not included in this table, all      outstanding stock options (other than Roll-Over options held by select      management employees) became fully vested and converted into the right to      receive a cash payment equal to the number of shares underlying the      option, multiplied by the amount, if any, by which the Merger      consideration of $71.50 per share exceeded the option exercise      price.  In addition, all unvested restricted stock awards became      fully vested and were converted into the right to receive a cash payment      equal to $71.50 per share.  Pursuant to the applicable      disclosure rules, we are required to report equity awards in the Stock      Awards and Option Awards columns of the Summary Compensation Table based      on the dollar amount recognized for financial accounting purposes in      2007.  In order to avoid “double counting” of payments and      benefits received by our Named Executive Officers, this Merger Related      Payments table does not reflect the amounts paid to cash-out these equity      awards.  Accordingly, refer to the Option Exercises and Stock      Vested at Fiscal Year End table on page 43 for a complete summary of      the amount received by each Named Executive Officer in connection with the      cash-out of equity awards. |
|--|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (vi) | This      column reflects the total amount entered in the “All Other Compensation”      column of the Summary Compensation Table and reflects the sum of the three      previous tables. |
|--|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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Table of Contents

|                                                        |
|-------------------------------------------------------------|
| Grants      of Plan-Based Awards                            |
|                                                        |
|                                                        |   |   |   | Estimated      Possible PayoutsUnder      Non-Equity IncentivePlan      Awards |   |   |   |   |   |   |   |   |  |   |   |   |   |   |  |
| Name                                                        |   | Grant Date |   | Threshold |   |   | Target |   |   | Maximum |   |   | Estimated Future      Payouts Under Equity Incentive      Plan Awards      Target (#) |   |   |  All      OtherStock      Awards:Number of Shares of      Stock or Units (#) |   |   | All Other Option      Awards:  Number of Securities Underlying      Options (#) |   |   | Exercise or Base Price      of Option      Awards($/Sh) |   |   | Grant Date      Fair Value      of Stock  and Option      Awards      (7) |
| Scott T. Ford                                               |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Annual Incentive (1)                                        |   |   |   | $ | 812,500 |   |   | $ | 1,625,000 |   |   | $ | 3,250,000 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Long-Term Incentive (2007-2009)      (2)                    |   |   |   | $ | 812,500 |   |   | $ | 1,625,000 |   |   | $ | 2,437,500 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Stock options (pre-Merger)    (3)                           |   | 1/17/07 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 120,000 |   |   | $ | 61.51 |   |   | $ | 2,221,728 |
| Restricted Shares (4)                                       |   | 1/17/07 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 27,500 |   |   |   |   |   |   |   |   |   |   | $ | 1,664,025 |
| Time-Based Stock Options (post-Merger)      (5)             |   | 11/16/07 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 5,637,116 |   |   | $ | 10.00 |   |   | $ | 15,866,227 |
| Performance-Based Stock Options (post-Merger) 1.5x      (6) |   | 11/16/07 |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 1,252,693 |   |   |   |   |   |   |   |   |   |   | $ | 10.00 |   |   | $ | 2,831,086 |
| Performance-Based Stock Options (post-Merger) 2.0x      (6) |   | 11/16/07 |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 1,252,693 |   |   |   |   |   |   |   |   |   |   | $ | 10.00 |   |   | $ | 1,778,824 |
| Sharilyn S. Gasaway                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Annual Incentive (1)                                        |   |   |   | $ | 159,100 |   |   | $ | 318,200 |   |   | $ | 636,400 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Long-Term Incentive (2007-2009)      (2)                    |   |   |   | $ | 149,156 |   |   | $ | 298,313 |   |   | $ | 447,469 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Stock options (pre-Merger)    (3)                           |   | 1/17/07 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 60,000 |   |   | $ | 61.51 |   |   | $ | 1,110,864 |
| Restricted Shares (4)                                       |   | 1/17/07 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 15,000 |   |   |   |   |   |   |   |   |   |   | $ | 907,650 |
| Time-Based Stock Options (post-Merger)      (5)             |   | 11/16/07 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 1,038,462 |   |   | $ | 10.00 |   |   | $ | 2,922,855 |
| Performance-Based Stock Options (post-Merger) 1.5x      (6) |   | 11/16/07 |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 230,770 |   |   |   |   |   |   |   |   |   |   | $ | 10.00 |   |   | $ | 521,540 |
| Performance-Based Stock Options (post-Merger) 2.0x      (6) |   | 11/16/07 |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 230,770 |   |   |   |   |   |   |   |   |   |   | $ | 10.00 |   |   | $ | 327,693 |
| Jeffrey H. Fox                                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Annual Incentive (1)                                        |   |   |   | $ | 349,313 |   |   | $ | 698,625 |   |   | $ | 1,397,250 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Long-Term Incentive (2007-2009)      (2)                    |   |   |   | $ | 349,313 |   |   | $ | 698,625 |   |   | $ | 1,047,938 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Stock options (pre-Merger)    (3)                           |   | 1/17/07 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 75,000 |   |   | $ | 61.51 |   |   | $ | 1,388,580 |
| Restricted Shares (4)                                       |   | 1/17/07 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 20,000 |   |   |   |   |   |   |   |   |   |   | $ | 1,210,200 |
| Time-Based Stock Options (post-Merger)      (5)             |   | 11/16/07 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 3,478,846 |   |   | $ | 10.00 |   |   | $ | 9,791,560 |
| Performance-Based Stock Options (post-Merger) 1.5x      (6) |   | 11/16/07 |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 773,077 |   |   |   |   |   |   |   |   |   |   | $ | 10.00 |   |   | $ | 1,747,154 |
| Performance-Based Stock Options (post-Merger) 2.0x      (6) |   | 11/16/07 |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 773,077 |   |   |   |   |   |   |   |   |   |   | $ | 10.00 |   |   | $ | 1,097,769 |

----

Table of Contents

|                                                        |
|-------------------------------------------------------------|
| Grants      of Plan-Based Awards Table Cont.                |
|                                                        |
|                                                        |   |   |   | Estimated      Possible PayoutsUnder      Non-Equity IncentivePlan      Awards |   |   |  |   |   |  |   |   |  |   |   |  |   |   |   |
|  Name                                                  |   | Grant Date |   | Threshold |   |   | Target |   |   | Maximum |   |   | Estimated      Future Payouts Under      Equity Incentive Plan Awards      Target      (#) |   |   | All Other      Stock Awards:      Numberof Shares of      Stock or Units (#) |   |   | All Other      Option Awards: Number of Securities      Underlying Options (#) |   |   | Exercise or      Base Price      of Option      Awards($/Sh) |   |   | Grant Date      Fair Value      of Stock and Option      Awards      (7) |
| Richard N. Massey                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Annual Incentive (1)                                        |   |   |   | $ | 258,750 |   |   | $ | 517,500 |   |   | $ | 1,035,000 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Long-Term Incentive (2007-2009)      (2)                    |   |   |   | $ | 258,750 |   |   | $ | 517,500 |   |   | $ | 776,250 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Stock options (pre-Merger)    (3)                           |   | 1/17/07 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 60,000 |   |   | $ | 61.51 |   |   | $ | 1,110,864 |
| Restricted Shares (4)                                       |   | 1/17/07 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 17,000 |   |   |   |   |   |   |   |   |   |   | $ | 1,028,670 |
| Time-Based Stock Options (post-Merger)      (5)             |   | 11/16/07 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 1,730,769 |   |   | $ | 10.00 |   |   | $ | 4,871,422 |
| Performance-Based Stock Options (post-Merger)      1.5x (6) |   | 11/16/07 |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 384,616 |   |   |   |   |   |   |   |   |   |   | $ | 10.00 |   |   | $ | 869,232 |
| Performance-Based Stock Options (post-Merger)      2.0x (6) |   | 11/16/07 |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 384,616 |   |   |   |   |   |   |   |   |   |   | $ | 10.00 |   |   | $ | 546,155 |
| C. J. Duvall                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Annual Incentive (1)                                        |   |   |   | $ | 97,808 |   |   | $ | 195,615 |   |   | $ | 391,230 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Long-Term Incentive (2007-2009)      (2)                    |   |   |   | $ | 122,259 |   |   | $ | 244,519 |   |   | $ | 366,778 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Stock options (pre-Merger)    (3)                           |   | 1/17/07 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 20,000 |   |   | $ | 61.51 |   |   | $ | 370,288 |
| Restricted Shares (4)                                       |   | 1/17/07 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 5,000 |   |   |   |   |   |   |   |   |   |   | $ | 302,550 |
| Time-Based Stock Options (post-Merger)      (5)             |   | 11/16/07 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 432,692 |   |   | $ | 10.00 |   |   | $ | 1,217,855 |
| Performance-Based Stock Options (post-Merger)      1.5x (6) |   | 11/16/07 |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 96,154 |   |   |   |   |   |   |   |   |   |   | $ | 10.00 |   |   | $ | 217,308 |
| Performance-Based Stock Options (post-Merger)      2.0x (6) |   | 11/16/07 |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 96,154 |   |   |   |   |   |   |   |   |   |   | $ | 10.00 |   |   | $ | 136,539 |
| Kevin L. Beebe                                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Annual Incentive (1)                                        |   |   |   | $ | 349,313 |   |   | $ | 698,625 |   |   | $ | 1,397,250 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Long-Term Incentive (2007-2009)      (2)                    |   |   |   | $ | 349,313 |   |   | $ | 698,625 |   |   | $ | 1,047,938 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Stock options (pre-Merger)    (3)                           |   | 1/17/07 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 75,000 |   |   | $ | 61.51 |   |   | $ | 1,388,580 |
| Restricted Shares (4)                                       |   | 1/17/07 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 20,000 |   |   |   |   |   |   |   |   |   |   | $ | 1,210,200 |

| (1) | The      amounts included in the “Annual Incentive” row provide information about      the annual cash incentive opportunities granted under the Performance      Incentive Compensation Plan during 2007 to our Named Executive Officers.      The information included in the “Threshold”, “Target” and “Maximum”      columns reflect the range of potential payouts for each award granted      under the Performance Incentive Compensation Plan during      2007.  In connection with the Merger, these awards were      calculated and paid based on maximum performance through the end of      December as defined and required by the Change in Control      Agreements.  The actual amounts paid to each Named Executive      Officer under the Performance Incentive Compensation Plan are included in      the “Non-Equity Incentive Plan Compensation” column of the Summary      Compensation Table. For more information about the Performance Incentive      Compensation Plan, refer to the “Compensation Discussion and Analysis”      beginning on page 22. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | The      amounts included in the “Long-Term Incentive (2007-2009)” row provide      information about the long-term cash incentive opportunities granted under      the Long-Term Performance Incentive Compensation Plan during 2007 to our      Named Executive Officers for the 2007 - 2009 performance cycle. The      information included in the “Threshold”, “Target” and “Maximum” columns      reflect the range of potential payouts for each award granted under the      Long-Term Performance Incentive Compensation Plan during 2007. In      connection with the Merger, these awards were calculated and paid based on      maximum target performance as defined and required by the Change in      Control Agreements.  The actual amount paid to each Named      Executive Officer under these awards is included in the “Non-Equity      Incentive Plan Compensation” column of the Summary Compensation      Table.  For more information about the “Long-Term Performance      Incentive Compensation Plan”, refer to the Compensation Discussion and      Analysis beginning on page 22. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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Table of Contents

| (3) | The      amounts in the “Stock Options (pre-Merger)” row show the number of shares      that were issuable to the Named Executive Officer on exercise of stock      options granted in January 2007.  One fifth of the options vest      on each of the first five anniversaries of the grant if the executive      continues to be employed by Alltel on the applicable vesting      date.  In connection with the Merger, the stock options listed      above for Mr. Beebe became fully vested and were converted into the right      to receive a cash payment equal to the number of shares underlying the      option, multiplied by the amount by which the Merger consideration of      $71.50 per share exceeded the option exercise price.  Refer to      the Option Exercises and Stock Vested at Fiscal Year End table for a      summary of the total amount received by Mr. Beebe in connection with the      cash-out of these stock options.  The stock options listed above      for each of our other Named Executive Officers were converted into options      to purchase Alltel Shares, in lieu of receiving the cash-out payments      described above.   We refer to these options, as well as      others treated in the same manner, as the “Roll-Over      Options.”  See the Outstanding Equity Awards at Fiscal Year-End      table for a summary of the methodology used for converting stock options      into Roll-Over Options. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (4) | The      amounts included in the “Restricted Shares” row show the number of      restricted shares awarded to the Named Executive Officers in      2007.  Shares vested on a time-based three-year vesting schedule      with one-third of the grant vesting each year.  Dividends on the      restricted shares were paid to the Named Executive Officers on a quarterly      basis.  In connection with the Merger, each outstanding      restricted share became fully vested and was converted into the right to      receive a cash payment equal to $71.50, which was the per-share Merger      consideration. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (5) | The      amounts in the “Time-Based Stock Options (post-Merger)” row show the      number of shares that may be issued to the Named Executive Officers on      exercise of time-based stock options granted in 2007 after the      Merger.  One fifth of the options vest on each of the first five      anniversaries of the grant if the executive continues to be employed by      Alltel on the applicable vestingdate. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (6) | The      amounts in the “Performance-Based Stock Options (post-Merger)” rows show      the number of shares that may be issued to the Named Executive Officers on      exercise of performance-based stock options granted in 2007 after the      Merger.   See description under Outstanding Equity Awards      at Fiscal Year-End for a description of these  options. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (7) | This      column shows the grant date fair value of stock options and restricted      stock awards granted to each Named Executive Officer in 2007, as      determined in accordance with FAS123R. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|                     |   |             |
|--------------------------|--------|------------------|
| Name                     |   | Aggregate Spread |
| Scott T. Ford            |   | $                | 21,950,018 |
| Sharilyn S. Gasaway |   | $                | 3,999,997 |
| Jeffrey H. Fox      |   | $                | 9,999,997 |
| Richard N. Massey        |   | $                | 1,999,995 |
| C. J. Duvall             |   | $                | 1,999,995 |

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Table of Contents

|                                              |
|---------------------------------------------------|
| Outstanding Equity Awards at Fiscal      Year-End |
| Option Awards                                     |
| Name                                              | Grant Date |   | Number of Securities Underlying Unexercised      Options (#) Exercisable (1) |   |   | Number of Securities Underlying      Unexercised Options (#)      Unexercisable (2) |   |   | Equity Incentive Plan Awards: Number of Securities      Underlying Unexercised Unearned Options (#) (3) |   |   | Option Exercise Price      (4) |   | Option Expiration Date |
| Scott T. Ford                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Roll-Over Options                                 | 1/17/2007 |   |   | 159,840 |   |   |   | - |   |   |   | - |   |   |   | $2.50 |   | 1/17/2017 |
|                                              | 1/21/2004 |   |   | 494,502 |   |   |   | - |   |   |   | - |   |   |   | $2.50 |   | 1/21/2014 |
|                                              | 1/19/2005 |   |   | 513,826 |   |   |   | - |   |   |   | - |   |   |   | $2.50 |   | 1/19/2015 |
|                                              | 1/18/2006 |   |   | 404,922 |   |   |   | - |   |   |   | - |   |   |   | $2.50 |   | 1/18/2016 |
|                                              | 1/22/2003 |   |   | 990,635 |   |   |   | - |   |   |   | - |   |   |   | $2.50 |   | 1/22/2013 |
|                                              | 1/23/2002 |   |   | 362,944 |   |   |   | - |   |   |   | - |   |   |   | $2.50 |   | 1/23/2012 |
| Performance 2.0x                                  | 11/16/2007 |   |   | - |   |   |   | - |   |   |   | 1,252,693 |   |   |   | $10.00 |   | 11/16/2017 |
| Performance 1.5x                                  | 11/16/2007 |   |   | - |   |   |   | - |   |   |   | 1,252,693 |   |   |   | $10.00 |   | 11/16/2017 |
| Time-based                                        | 11/16/2007 |   |   | - |   |   |   | 5,637,116 |   |   |   | - |   |   |   | $10.00 |   | 11/16/2017 |
| Sharilyn S. Gasaway                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Roll-Over Options                                 | 1/17/2007 |   |   | 79,920 |   |   |   | - |   |   |   | - |   |   |   | $2.50 |   | 1/17/2017 |
|                                              | 1/22/2003 |   |   | 91,140 |   |   |   | - |   |   |   | - |   |   |   | $2.50 |   | 1/22/2013 |
|                                              | 1/21/2004 |   |   | 74,175 |   |   |   | - |   |   |   | - |   |   |   | $2.50 |   | 1/21/2014 |
|                                              | 1/19/2005 |   |   | 85,637 |   |   |   | - |   |   |   | - |   |   |   | $2.50 |   | 1/19/2015 |
|                                              | 1/18/2006 |   |   | 202,461 |   |   |   | - |   |   |   | - |   |   |   | $2.50 |   | 1/18/2016 |
| Performance      2.0x                             | 11/16/2007 |   |   | - |   |   |   | - |   |   |   | 230,770 |   |   |   | $10.00 |   | 11/16/2017 |
| Performance 1.5x                                  | 11/16/2007 |   |   | - |   |   |   | - |   |   |   | 230,770 |   |   |   | $10.00 |   | 11/16/2017 |
| Time-based                                        | 11/16/2007 |   |   | - |   |   |   | 1,038,462 |   |   |   | - |   |   |   | $10.00 |   | 11/16/2017 |
| Jeffrey H. Fox                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Roll-Over Options                                 | 1/22/2003 |   |   | 288,339 |   |   |   | - |   |   |   | - |   |   |   | $2.50 |   | 1/22/2013 |
|                                              | 1/21/2004 |   |   | 370,877 |   |   |   | - |   |   |   | - |   |   |   | $2.50 |   | 1/21/2014 |
|                                              | 1/19/2005 |   |   | 321,141 |   |   |   | - |   |   |   | - |   |   |   | $2.50 |   | 1/19/2015 |
|                                              | 1/18/2006 |   |   | 253,076 |   |   |   | - |   |   |   | - |   |   |   | $2.50 |   | 1/18/2016 |
|                                              | 1/17/2007 |   |   | 99,900 |   |   |   | - |   |   |   | - |   |   |   | $2.50 |   | 1/17/2017 |
| Performance 2.0x                                  | 11/16/2007 |   |   | - |   |   |   | - |   |   |   | 773,077 |   |   |   | $10.00 |   | 11/16/2017 |
| Performance 1.5x                                  | 11/16/2007 |   |   | - |   |   |   | - |   |   |   | 773,077 |   |   |   | $10.00 |   | 11/16/2017 |
| Time-based                                        | 11/16/2007 |   |   | - |   |   |   | 3,478,846 |   |   |   | - |   |   |   | $10.00 |   | 11/16/2017 |
| Richard N. Massey                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Roll-Over Options                                 | 1/18/2006 |   |   | 186,746 |   |   |   | - |   |   |   | - |   |   |   | $2.50 |   | 1/18/2016 |
|                                              | 1/17/2007 |   |   | 79,920 |   |   |   | - |   |   |   | - |   |   |   | $2.50 |   | 1/17/2017 |
| Performance 2.0x                                  | 11/16/2007 |   |   | - |   |   |   | - |   |   |   | 384,616 |   |   |   | $10.00 |   | 11/16/2017 |
| Performance      1.5x                             | 11/16/2007 |   |   | - |   |   |   | - |   |   |   | 384,616 |   |   |   | $10.00 |   | 11/16/2017 |
| Time-based                                        | 11/16/2007 |   |   | - |   |   |   | 1,730,769 |   |   |   | - |   |   |   | $10.00 |   | 11/16/2017 |
| C. J. Duvall                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Roll-Over Options                                 | 1/22/2003 |   |   | 12,727 |   |   |   | - |   |   |   | - |   |   |   | $2.50 |   | 1/22/2013 |
|                                              | 1/21/2004 |   |   | 74,175 |   |   |   | - |   |   |   | - |   |   |   | $2.50 |   | 1/21/2014 |
|                                              | 1/19/2005 |   |   | 85,637 |   |   |   | - |   |   |   | - |   |   |   | $2.50 |   | 1/19/2015 |
|                                              | 1/18/2006 |   |   | 67,487 |   |   |   | - |   |   |   | - |   |   |   | $2.50 |   | 1/18/2016 |
|                                              | 1/17/2007 |   |   | 26,640 |   |   |   | - |   |   |   | - |   |   |   | $2.50 |   | 1/17/2017 |
| Performance 2.0x                                  | 11/16/2007 |   |   | - |   |   |   | - |   |   |   | 96,154 |   |   |   | $10.00 |   | 11/16/2017 |
| Performance 1.5x                                  | 11/16/2007 |   |   | - |   |   |   | - |   |   |   | 96,154 |   |   |   | $10.00 |   | 11/16/2017 |
| Time-based                                        | 11/16/2017 |   |   | - |   |   |   | 432,692 |   |   |   | - |   |   |   | $10.00 |   | 11/16/2017 |

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| (1) | This      column shows the number of shares underlying outstanding Roll-Over Options      as of December 31, 2007. |
|-----|--------------------------------------------------------------------------------------------------------------------|

| (2) | This      column shows the number of shares underlying time-based stock options that      were granted in connection with the Merger.  These options vest      in five equal annual increments on November 16th      of 2008, 2009, 2010, 2011, and 2012, provided that the executive officer      continues to be employed by Alltel on the vesting  date. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (3) | This      column shows the number of shares underlying performance-based stock      options that were granted in connection with the Merger.  These      options vest in the event that Alltel achieves certain performance goals      described in the introduction to thistable. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (4) | This      column shows the exercise price for each stock option reported in the      table.  For the time-based and performance-based stock options      granted in connection with the Merger, the exercise price equals the fair      market value per share of the underlying option shares on the date of      grant.  With respect to the Roll-Over Stock Options, the number      of shares underlying the options and the related per share exercise price      were adjusted pursuant to agreement as described above in “Roll-Over      Options” in order to account for the change in market value of Alltel’s      common stock resulting from the Merger.  The adjustment to the      number of shares and exercise prices maintained the intrinsic value of the      stock options. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Option Exercises and Stock      Vested |
|----------------------------------------|
|                                   |
|                                   |   | Option Awards |   |   | Stock Awards |
|   Name                       |   | Number of Shares Acquired on Exercise (#) (1) |   |   | Value Realized on Exercise ($) (1) |   |   | Number of Shares Acquired on Vesting (#) (2) |   |   | Value Realized on Vesting ($) (2) |
| Scott      T. Ford                     |   |   | 1,879,503 |   |   | $ | 45,508,761 |   |   |   | 90,833 |   |   | $ | 6,328,776 |
| Sharilyn S. Gasaway                    |   |   | 30,061 |   |   | $ | 748,838 |   |   |   | 36,250 |   |   | $ | 2,531,700 |
| Jeffrey H. Fox                         |   |   | 1,340,274 |   |   | $ | 32,764,484 |   |   |   | 66,250 |   |   | $ | 4,614,564 |
| Richard N. Massey                      |   |   | 5,691 |   |   | $ | 117,862 |   |   |   | 34,000 |   |   | $ | 2,375,804 |
| C. J. Duvall                           |   |   | 57,349 |   |   | $ | 1,604,584 |   |   |   | 28,250 |   |   | $ | 1,992,164 |
| Kevin L. Beebe                         |   |   | 1,703,906 |   |   | $ | 37,332,512 |   |   |   | 66,250 |   |   | $ | 4,614,564 |

| (1) | These      columns reflect the number of shares obtained upon exercise in 2007 prior      to the Merger and the number of options cashed out in connection with the      Merger, as well as the value realized from exercises and from the cash      out. The table below provides these components.  Roll-Over      Options are not included in this table.  Refer to page ____under      Outstanding Equity Awards at Fiscal Year End for an explanation of      Roll-Over Options and their aggregatespread. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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Table of Contents

|                |   |                                                                      |    |   |                              |   |       |                                                      |   |   |                               |
|---------------------|--------|---------------------------------------------------------------------------|---------|--------|-----------------------------------|--------|------------|-----------------------------------------------------------|--------|--------|------------------------------------|
|   Name    |   | Number of Shares Acquired on Exercise of Options      Prior to Merger (#) |    |   | Value Realized on Exercise    (i) |   |       | Number of Option Shares Cashed-Out in the Merger      (#) |   |   | Value Realized on Cash-Out    (ii) |
| Scott T. Ford       |   |                                                                      | 488,800 |   |                              | $      | 18,711,264 |                                                      |   |   | 1,390,703                          |   |   | $ | 26,797,497 |
| Sharilyn S. Gasaway |   |                                                                      | --      |   |                              |   | --         |                                                      |   |   | 30,061                             |   |   | $ | 748,838 |
| Jeffrey H. Fox      |   |                                                                      | 305,500 |   |                              | $      | 11,694,540 |                                                      |   |   | 1,034,774                          |   |   | $ | 21,069,944 |
| Richard N. Massey   |   |                                                                      | --      |   |                              |   | --         |                                                      |   |   | 5,691                              |   |   | $ | 117,862 |
| C. J. Duvall        |   |                                                                      | --      |   |                              |   | --         |                                                      |   |   | 57,349                             |   |   | $ | 1,604,584 |
| Kevin L. Beebe      |   |                                                                      | --      |   |                              |   | --         |                                                      |   |   | 1,703,906                          |   |   | $ | 37,332,512 |

|   | (i) | This      column reflects the product of (1) the number of shares acquired upon the      exercise of any stock option prior to the Merger, multiplied by (2) the      excess of (x) the price per share of Alltel’s common stock at the time of      exercise, over (y) the per share exercise price of the stock      option. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | In      connection with the Merger, all outstanding stock options (other than      Roll-Over options held by select management employees) became fully vested      and converted into the right to receive a cash payment equal to the number      of shares underlying the option multiplied by the amount, if any, by which      the Merger consideration of $71.50 per share exceeded the option exercise      price. |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | These      columns reflect the number of shares vested prior to the Merger in 2007      and the number of restricted shares cashed out in connection with the      Merger, as well as the value realized on vesting of shares and upon the      cash out of shares. The table below provides these    components. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                |   |                                                                               |   |   |                             |   |      |                                                      |   |   |                               |
|---------------------|--------|------------------------------------------------------------------------------------|--------|--------|----------------------------------|--------|-----------|-----------------------------------------------------------|--------|--------|------------------------------------|
|   Name    |   | Number of Shares Acquired on Vesting of Restricted      Shares Prior to Merger (#) |   |   | Value Realized on Vesting    (i) |   |      | Number of Restricted Shares Cashed-Out in the      Merger |   |   | Value Realized on Cash-Out    (ii) |
| Scott T. Ford       |   |                                                                               | 17,500 |   |                             | $      | 1,085,466 |                                                      |   |   | 73,333                             |   |   | $ | 5,243,310 |
| Sharilyn S. Gasaway |   |                                                                               | 6,250  |   |                             | $      | 386,700   |                                                      |   |   | 30,000                             |   |   | $ | 2,145,000 |
| Jeffrey H. Fox      |   |                                                                               | 12,917 |   |                             | $      | 801,254   |                                                      |   |   | 53,333                             |   |   | $ | 3,813,310 |
| Richard N. Massey   |   |                                                                               | 5,667  |   |                             | $      | 349,994   |                                                      |   |   | 28,333                             |   |   | $ | 2,025,810 |
| C. J. Duvall        |   |                                                                               | 2,917  |   |                             | $      | 180,854   |                                                      |   |   | 25,333                             |   |   | $ | 1,811,310 |
| Kevin L. Beebe      |   |                                                                               | 12,917 |   |                             | $      | 801,254   |                                                      |   |   | 53,333                             |   |   | $ | 3,813,310 |

|   | (i) | This      column shows the product of (1) the number of restricted shares that      vested prior to the Merger, multiplied by (2) the price per share of      Alltel’s common stock at the time ofvesting. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | In      connection with the Merger, each outstanding restricted share became fully      vested and was converted into the right to receive a cash payment equal to      $71.50, which was the per-share Merger consideration.  This      column shows the product of (i) the number of restricted shares held by      each Named Executive Officer immediately prior to the Merger, multiplied      by (ii) $71.50 per share. |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|                |
|---------------------|
| Pension Benefits    |
| Name                |   | Plan Name |   | Number of Years Credited Service (#)      (1) |   |   | Present Value of Accumulated Benefit      (1) |   |   | Payments During Last Fiscal Year      (2) |
| Scott T. Ford       |   | Alltel Corporation Pension    Plan |   |   | 11.9 |   |   | $ | 119,541 |   |   |   | -- |
|                |   | Alltel Benefit Restoration    Plan |   |   | 11.9 |   |   | $ | 2,310,342 |   |   |   | -- |
|                |   | Alltel Supplemental Executive Retirement      Plan |   |   | N/A |   |   |   | -- |   |   | $ | 51,665,856 |
|                |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Sharilyn S. Gasaway |   | Alltel Corporation Pension    Plan |   |   | 6.7 |   |   | $ | 47,529 |   |   |   | -- |
|                |   | Alltel Benefit Restoration    Plan |   |   | 6.7 |   |   | $ | 30,018 |   |   |   | -- |
|                |   | Alltel Supplemental Executive Retirement      Plan |   |   | N/A |   |   |   | -- |   |   | $ | 12,242,829 |
|                |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Jeffrey H. Fox      |   | Alltel Corporation Pension    Plan |   |   | 4.8 |   |   | $ | 60,602 |   |   |   | -- |
|                |   | Alltel Benefit Restoration    Plan |   |   | 4.8 |   |   | $ | 787,468 |   |   |   | -- |
|                |   | Alltel Supplemental Executive Retirement      Plan |   |   | N/A |   |   |   | -- |   |   | $ | 23,573,415 |
|                |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Richard N. Massey   |   | Alltel Corporation Pension    Plan |   |   | - |   |   |   | -- |   |   |   | -- |
|                |   | Alltel Benefit Restoration    Plan |   |   | - |   |   |   | -- |   |   |   | -- |
|                |   | Alltel Supplemental Executive Retirement      Plan |   |   | N/A |   |   |   | -- |   |   | $ | 17,671,522 |
|                |   |   |   |   |   |   |   |   |   |   |   |   |   |
| C. J. Duvall        |   | Alltel Corporation Pension    Plan |   |   | 8.9 |   |   | $ | 109,424 |   |   |   | -- |
|                |   | Alltel Benefit Restoration    Plan |   |   | 8.9 |   |   | $ | 228,546 |   |   |   | -- |
|                |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Kevin L. Beebe      |   | Alltel Corporation Pension    Plan |   |   | 8.9 |   |   | $ | 79,157 |   |   |   | -- |
|                |   | Alltel Benefit Restoration    Plan |   |   | 8.9 |   |   | $ | 942,246 |   |   |   | -- |
|                |   | Alltel Supplemental Executive Retirement      Plan |   |   | N/A |   |   |   | -- |   |   | $ | 26,132,687 |

| (1) | The      information contained in the “Number of Years Credited Service” column and      the “Present Value of Accumulated Benefit” column for the Pension Plan and      the Benefit Restoration Plan are calculated as of December 31, 2007, which      is the measurement date used for reporting purposes in Alltel’s      Consolidated Financial Statements contained in this Annual Report on Form      10-K. The present value of accumulated benefits was prepared based on the      same assumptions used in the Consolidated Financial Statements contained      in this Annual Report on Form 10-K including the      following:  Mortality table:  RP-2000 Combined Healthy      Lives table (projected to 2008);  Interest      rate:  6.55% discount rate; and Retirement age:  age      60, except that, for Mr. Beebe (who has terminated employment), pension      commencement at age 65 for the Alltel Corporation Pension Plan and at age      55 for the Alltel Corporation Benefit Restoration  Plan. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | In      connection with the Merger, each of the Named Executive Officers elected      to receive a lump sum payment of his or her accrued SERP benefit, as      agreed on November 15, 2007, and payable on January 2,      2008.  These payments completely discharged Alltel’s obligation      with respect to SERP benefits (other than lifetime health and dental      benefits) that accrued during each Named Executive Officer's tenure with      the Company.  For Mr. Beebe, the amount in the above column      includes an additional payment to cash-out the lifetime health and dental      benefits available under the SERP. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | · | For      post January 1, 1988 through December 31, 2005 service, the      participant is credited with 1% of compensation, plus 0.4% of the      participant’s compensation in excess of the Social Security Taxable Wage      Base for the year. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | For      employees who had attained age 40 with two years of service at      December 31, 2005, the above formula applies to service through      December 31, 2010.  The Pension Plan is frozen to additional      accruals after December 31, 2010 (December 31, 2005 for those who had not      attained age 40 with two years of service at December 31,      2005). |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Compensation      for a year generally includes salary, bonus and other non-equity incentive      compensation up to the applicable limit of the Internal Revenue Code      ($225,000 for 2007). |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | The      Social Security Wage Base is the maximum amount of earnings that is      subject to Social Security taxes for the year ($97,500 for      2007). |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Normal      retirement at age 65 (or, if later, five years of service or the fifth      anniversary of participation). |
|--------|--------|------------------------------------------------------------------------------------------------------------------------|

|   | · | Early      retirement at or after age 55 with at least 20 years of service (with a      reduction in the life annuity of 0.25% for each month payment begins      before age 60). |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Early      retirement at or after age 60 with 15 years of service (with a reduction      in the life annuity of 0.25% for each month payment begins before age 65      for a participant whose benefit begins before age  62). |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|                                     |
|------------------------------------------|
| Non-Qualified Deferred      Compensation |
| Name                                     |   | Executive Contributions in Last Fiscal Year      (1) |   |   | Registrant Contributions in Last Fiscal Year      (2) |   |   | Aggregate Earnings in Last Fiscal Year      (3) |   |   | Aggregate Withdrawals /      Distributions(4) |   |   | Aggregate Balance at Last      FiscalYear End (5) |
| Scott T. Ford                            |   | $ | 1,802,155 |   |   | $ | 736,874 |   |   | $ | 306,376 |   |   | $ | 3,242,075 |   |   | $ | 3,015,005 |
| Sharilyn S. Gasaway            |   | $ | 603,001 |   |   | $ | 130,498 |   |   | $ | 23,992 |   |   | $ | 455,208 |   |   | $ | 557,211 |
| Jeffrey H. Fox                 |   | $ | 1,981,294 |   |   | $ | 327,248 |   |   | $ | 987,021 |   |   | $ | 10,869,825 |   |   | $ | 3,186,056 |
| Richard N. Massey              |   | $ | 1,358,377 |   |   | $ | 240,624 |   |   | $ | 38,569 |   |   | $ | 1,305,785 |   |   | $ | 580,908 |
| C. J. Duvall                        |   | $ | 875,149 |   |   | $ | 96,629 |   |   | $ | 88,088 |   |   | $ | 1,528,130 |   |   | $ | 283,156 |
| Kevin L. Beebe                 |   | $ | 126,433 |   |   | $ | 126,433 |   |   | $ | 276,887 |   |   | $ | 2,865,128 |   |   | $ | 687,144 |

| (1) | This      column shows the aggregate deferrals for each Named Executive Officer of      (i) base salary otherwise payable in 2007, (ii) the annual bonus earned      under the Performance Incentive Compensation Plan for the performance      period ending December 31, 2006, and (iii) the annual bonus earned under      the Performance Incentive Compensation Plan for the period ending prior to      the Merger, and the incentive earned under the Long-Term Incentive Plan      for each outstanding performance cycle prior to the Merger.  Of      these amounts, the base salary deferrals for each Named Executive Officer      are included in the “Salary” column of the Summary Compensation Table.      Deferrals of the annual bonus under the Performance Incentive Compensation      Plan and the Long-Term Incentive Plan for the performance period ending in      2007 and for each outstanding performance cycle prior to the Merger for      the Named Executive Officers are included in the “Non-Equity Incentive      Plan Compensation” column of the Summary Compensation    Table. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | The      “Registrant Contributions in Last Fiscal Year” column shows the aggregate      credits to the accounts of the Named Executive Officers under the Benefit      Restoration Plan during 2007 (as described in more detail below). The      credits are included in the “All Other Compensation” column to the Summary      Compensation Table. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (3) | The      “above-market” portions of the amounts included in this column are      reported in the “Change in Pension Value and Non-Qualified Deferred      Compensation Earnings” column of the Summary Compensation      Table. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (4) | Each      Named Executive Officer received lump sum distributions of his or her      account balance under the 1998 Management Deferred Compensation Plan in      connection with the merger transaction. Mr. Beebe also received a lump sum      distribution from his Alltel Corporation Benefit Restoration Plan and 360°      Communications Company deferralplans. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|  (5) | The      aggregate balance as of December 31, 2007 reported for each Named      Executive Officer includes the following deferrals and earnings that may      have been previously reported as compensation in the Summary Compensation      Table for prior years (balances are prior to adjustment for gains, losses      and prior in-servicedistributions): |
|-----------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   Name              |   | Balance ending December 31,2003 |      |   | Balance ending December 31,2004 |   |      | Balance ending December 31,2005 |   |   | Balance ending December 31,2006 |
|-------------------------------|--------|--------------------------------------|-----------|--------|--------------------------------------|--------|-----------|--------------------------------------|--------|--------|--------------------------------------|
| Scott T. Ford       |   | $                                    | 1,094,795 |   |                                 | $      | 1,487,818 |                                 |   | $      | 2,319,581                            |   |   | $ | 3,411,675 |
| Sharilyn S. Gasaway |   | $                                    | 8,953     |   |                                 | $      | 27,345    |                                 |   | $      | 99,618                               |   |   | $ | 254,928 |
| Jeffrey H. Fox      |   | $                                    | 4,445,861 |   |                                 | $      | 6,172,621 |                                 |   | $      | 8,301,467                            |   |   | $ | 10,760,318 |
| Richard N. Massey   |   |                                 | N/A       |   |                                 |   | N/A       |                                 |   |   | N/A                                  |   |   | $ | 249,123 |
| C. J. Duvall             |   | $                                    | 37,928    |   |                                 | $      | 120,635   |                                 |   | $      | 324,875                              |   |   | $ | 751,420 |
| Kevin L. Beebe      |   | $                                    | 1,450,920 |   |                                 | $      | 1,890,151 |                                 |   | $      | 2,416,740                            |   |   | $ | 3,022,519 |

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|   | · | A      lump sum payment, equal to the annual bonus for the year in which the      termination of employment occurs, prorated through the date of      termination. |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | A      lump sum payment equal to the product of (i) the greater of one or the      number of years (or fractions thereof) remaining in the term, multiplied      by (ii) the executive’s annual base salary and annual    bonus. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Continued      health and welfare benefits for a period equal to the greater of one year      or the number of years (or fractions thereof) remaining in the      term. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | For      purposes of the severance calculations, the annual bonus equals the      highest annual bonus earned by the executive in any of the three years      prior to the year of termination. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | • | A      lump sum payment equal to the annual bonus for the year in which the      termination of employment occurs, prorated through the date of      termination. |
|--------|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | A      lump sum payment equal to three times the executive’s annual base salary      and annual bonus. |
|--------|---------|--------------------------------------------------------------------------------------------------------------|

|   | • | Continued      health and welfare benefits for up to three  years. |
|--------|---------|--------------------------------------------------------------------|

|   | • | If      any payments or benefits that the executive receives are subject to the      golden parachute excise tax imposed under Section 4999 of the Internal      Revenue Code, the executive will be entitled to an additional payment so      that the executive is placed in the same after-tax position as if no      excise tax had been imposed. |
|--------|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | For      purposes of the severance calculations, the annual bonus equals the      highest annual bonus earned by the executive in any of the three years      prior to the year of termination. |
|--------|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|                                                        |
|-------------------------------------------------------------|
| Payments in Connection with Termination for Any      Reason |
|                                                        |   | Ford |   |   | Gasaway |   |   | Fox |   |   | Massey |   |   | Duvall |
| Severance (1)                                               |   | $ | 0 |   |   | $ | 0 |   |   | $ | 0 |   |   | $ | 0 |   |   | $ | 0 |
| Cash Payment for Continued Health Care      (2)             |   | $ | 736,609 |   |   | $ | 891,925 |   |   | $ | 788,185 |   |   | $ | 640,881 |   |   | $ | 0 |
| Tax Gross-up  (3)                                 |   | $ | 565,971 |   |   | $ | 685,308 |   |   | $ | 605,599 |   |   | $ | 492,419 |   |   | $ | 0 |
| Excise Tax Gross-up (4)                                     |   | $ | 0 |   |   | $ | 578,247 |   |   | $ | 0 |   |   | $ | 266,659 |   |   | $ | 0 |
| Total                                                       |   | $ | 1,302,580 |   |   | $ | 2,155,480 |   |   | $ | 1,393,784 |   |   | $ | 1,399,959 |   |   | $ | 0 |

|   | (1) | Because      the Named Executive Officers’ employment agreements only provide severance      benefits (unrelated to a change in control) if the qualifying termination      occurs on or after November 16, 2010, the payment of severance benefits is      $0. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (2) | With      respect to the cash payment for health care, upon the Merger, the SERP was      terminated.  Prior to its termination, the SERP provided an      entitlement to lifetime health benefits for its participants and their      family.  As participants in the SERP and in connection with the      Merger, Alltel entered into an agreement with Messrs. Ford, Fox, Massey,      Beebe and Ms. Gasaway, to provide a single lump sum cash payment in lieu      of the health benefits upon the executive’s termination of employment      subject to the terms of his or her employment agreement.  The      value of this cash benefit (assuming a termination on December 31, 2007)      is reflected in the table above.  This amount is calculated      using a discount rate of 6.51%, the Sex-distinct 1994 Group Annuity      Mortality Table, medical and dental trend increase of 9% in 2008 and      decreasing to 5% in 2014.  Costs include spouse for life and      dependent children to age 23. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (3) | Income      tax gross-up represents the additional payment under the terms of the SERP      to cover federal and state income taxes imposed on the receipt of the cash      payment in lieu of health benefits.  This amount is figured      using a 43.45% combined federal and state  calculation. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | (4) | This      column shows the amount of the tax gross-up paid by the Company on behalf      of the Named Executive Officer to federal, state and local taxing entities      to cover the executive’s cost of taxes related to Internal Revenue Code      provisions 280G and 4999 as well as income taxes related to this gross      up.  The tax gross-up was provided pursuant to the terms of the      pre-Merger change in controlagreements. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Payments      and Benefits         |   | Ford   |       |   | Gasaway |   |      | Fox    |   |   | Massey    |   |   | Duvall |
|------------------------------------|--------|--------|------------|--------|---------|--------|-----------|--------|--------|--------|-----------|--------|--------|--------|
| Severance      (1)                 |   | $      | 10,380,000 |   |    | $      | 2,525,250 |   |   | $      | 5,515,875 |   |   | $      | 3,802,500 |   |   | $ | 1,828,575 |
| Prorata      Bonus Payment (2)     |   |   | --         |   |    |   | --        |   |   |   | --        |   |   |   | -- |   |   |   | -- |
| Welfare      Benefit Values (3)    |   | $      | 39,236     |   |    | $      | 39,281    |   |   | $      | 39,230    |   |   | $      | 39,180 |   |   | $ | 39,211 |
| Excise      Tax & Gross-Up (4) |   |   | --         |   |    | $      | 1,112,971 |   |   |   | --        |   |   | $      | 1,673,773 |   |   | $ | 786,271 |
| Aggregate      Payments            |   | $      | 10,419,236 |   |    | $      | 3,677,502 |   |   | $      | 5,555,105 |   |   | $      | 5,515,453 |   |   | $ | 2,654,057 |

| (1) | Severance      payments equal to three (3) times the sum of the executive’s annual base      salary at the time of the termination plus the highest annual bonus earned      by the executive in any of the three years prior to the year of      termination. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | The      highest annual bonus earned by the executive in any of the three years      prior to the year of termination.  No prorated bonus would have      been due as of December 31, 2007 because the full year bonus was paid in      November 2007. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (3) | The      medical and dental benefit (computed for 3 years) was calculated in      accordance with Financial Accounting Standards Board Statement of      Financial Accounting Standards No. 106, “Employer’s Accounting for      Postretirement Benefits Other Than Pensions” (“FAS 106”). Other benefits      were calculated (for 3 years post-termination benefit) under existing      plans and programs, with a monthly group benefit premium of $135.38 for      long-term disability, $83.00 for group life insurance and $11.00 for      accidental death and disability. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| (4) | Gross-up      covering the full cost of excise tax under Internal Revenue Code Sections      280G and 4999. To ensure disclosure of all potential compensation,      conservative assumptions regarding the potential excise tax have been      applied. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Payments      and Benefits             |   | Amount |
|----------------------------------------|--------|--------|
| Change      in Control Payment (1)     |   | $      | 11,787,604 |
|                                   |   |   |   |
| Prorated      Bonus Payment (2)        |   | $      | 1,224,986 |
|                                   |   |   |   |
| Prorated      LTI Payment (3)          |   | $      | 1,966,678 |
|                                   |   |   |   |
| SERP      Payment (4)                  |   | $      | 24,992,397 |
|                                   |   |   |   |
| Cash-out      of Health Benefits (5)   |   | $      | 1,140,290 |
|                                   |   |   |   |
| Cash-Out      of Stock Options (6)     |   | $      | 37,332,512 |
|                                   |   |   |   |
| Cash-Out      of Restricted Shares (7) |   | $      | 3,813,310 |
|                                   |   |   |   |
| Excise      Tax & Gross-Up (8)     |   | $      | 13,153,473 |
|                                   |   |   |   |
| Aggregate      Payments                |   | $      | 95,411,250 |

| (1) | Lump      sum change in control payments equal to three (3) times the sum of the      executive’s annual base salary at the time of the termination plus the      maximum short-term incentive plus the maximum long-term incentive, both as      defined and required by Mr. Beebe’s Change in Control Agreement, and      reflecting the enhanced value of the Supplemental Executive Retirement      Plan and pension due to 3 years additional service credit, as well as      payment equivalent to 3 years of Company contributions to defined      contribution plans. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | The      annual incentive cash award earned under the Performance Incentive      Compensation Plan for 2007.  As a result of the Merger, this      award was calculated assuming maximum performance and the resulting      amounts were prorated through November 16, 2007, his date of      termination. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (3) | The      long-term incentive cash award earned under the Long-Term Performance      Incentive Compensation Plan for the 2005-2007, 2006-2008 and 2007-2009      performance cycles.  In connection with the Merger, these awards      were calculated based on maximum performance for the 2007-2009 award, as      defined and required in his change in control agreement and the resulting      amounts were prorated for each performance cycle based on the period of      time between the first day of the applicable performance cycle and      November 16, 2007, his date oftermination. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (4) | In      connection with the Merger, on November 15, 2007, Mr. Beebe elected to      receive a lump sum payment of his accrued benefit under the Supplemental      Executive Retirement Plan on January 2,2008. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (5) | In      connection with the Merger, Mr. Beebe elected to receive a lump sum      payment in lieu of receiving lifetime medical and dental coverage as      provided under the SERP. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (6) | In      connection with the Merger, each outstanding stock option became fully      vested and was converted into the right to receive a cash payment equal to      the number of shares underlying the option, multiplied by the amount, if      any, by which the Merger consideration of $71.50 per share exceeded the      option exercise price. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (7) | In      connection with the Merger, all unvested restricted stock awards became      fully vested and were converted into the right to receive a cash payment      equal to $71.50, which was the per-share Merger      consideration.  The above calculation reflects the product of      (i) the number of restricted shares held by Mr. Beebe, multiplied by (ii)      $71.50. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (8) | Gross-up      for the excise tax under Internal Revenue Code Section    4999. |
|-----|-------------------------------------------------------------------------------|

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| Name                        |   | Fees Earnedor Paid inCash |    |   | StockAwards(1) |   |   | OptionAwards(2) |   |   | Change inPensionValue andNon-QualifiedDeferredCompensationEarnings |   |   | All OtherCompensation(3) |   |   | Total  |
|-----------------------------|--------|---------------------------|---------|--------|----------------|--------|--------|-----------------|--------|--------|--------------------------------------------------------------------|--------|--------|--------------------------|--------|--------|--------|
| John R. Belk                |   | $                         | 22,750  |   |           | $      | 75,098 |            |   | $      | 177,355                                                            |   |   | $                        | 10,594 |   |   | $ | 462 |   |   | $ | 286,259 |
| Peter A. Bridgman           |   | $                         | 42,500  |   |           | $      | 75,098 |            |   | $      | 199,521                                                            |   |   | $                        | 3,401  |   |   | $ | 462 |   |   | $ | 320,982 |
| William H. Crown            |   | $                         | 29,750  |   |           | $      | 75,098 |            |   | $      | 177,355                                                            |   |   | $                        | 6,786  |   |   | $ | 462 |   |   | $ | 289,451 |
| Joe T. Ford                 |   | $                         | 221,154 |   |           |   | N/A    |            |   |   | N/A                                                                |   |   | $                        | 56,565 |   |   | $ | 1,128,711 | (4) |   | $ | 1,406,430 |
| Lawrence L. Gellerstedt,III |   | $                         | 56,750  |   |           | $      | 37,582 |            |   | $      | 177,355                                                            |   |   | $                        | 13,852 |   |   | $ | 231 |   |   | $ | 285,770 |
| Emon A. Mahony, Jr.         |   | $                         | 47,500  |   |           | $      | 37,582 |            |   | $      | 177,355                                                            |   |   | $                        | 26,933 |   |   | $ | 231 |   |   | $ | 289,601 |
| John P. McConnell           |   | $                         | 72,500  |   |           | $      | 37,582 |            |   | $      | 177,355                                                            |   |   | $                        | 4,512  |   |   | $ | 231 |   |   | $ | 292,180 |
| Josie C. Natori             |   | $                         | 52,750  |   |           | $      | 37,582 |            |   | $      | 177,355                                                            |   |   | $                        | 23,123 |   |   | $ | 231 |   |   | $ | 291,041 |
| John W. Stanton             |   | $                         | 17,500  |   |           | $      | 73,552 |            |   | $      | 222,312                                                            |   |   |                     | --     |   |   | $ | 368 |   |   | $ | 313,732 |
| Warren A. Stephens          |   | $                         | 17,500  |   |           | $      | 75,098 |            |   | $      | 177,355                                                            |   |   | $                        | 5,246  |   |   | $ | 462 |   |   | $ | 275,661 |
| Ronald Townsend             |   | $                         | 56,250  |   |           | $      | 37,582 |            |   | $      | 177,355                                                            |   |   |                     | --     |   |   | $ | 231 |   |   | $ | 271,418 |

| (1) | This      column reflects the aggregate dollar amount recognized for financial      statement reporting purposes for the fiscal year ending December 31, 2007,      in accordance with FAS 123R, of outstanding restricted stock awards      (whether or not granted during 2007).  Additional assumptions      made in the valuation and expensing of these awards are set forth in      footnote 9 to Alltel’s Consolidated Financial Statements for the fiscal      year ended December 31, 2007. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | This      column reflects the aggregate dollar amount recognized for financial      statement reporting purposes for the fiscal year ending December 31, 2007,      in accordance with FAS 123R, of outstanding stock option awards (whether      or not granted during 2007).  Additional assumptions made in the      valuation and expensing of these awards are set forth in footnote 9 to      Alltel’s Consolidated Financial Statements for the fiscal year ended      December 31, 2007. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (3) | Column      reflects dividends paid on outstanding restricted stock awards during the      2007 fiscal year, except for Mr.Ford. |
|-----|----------------------------------------------------------------------------------------------------------------------------------|

| (4) | With      respect to Mr. Ford’s service as a director, includes the change in      control payment of $750,000, personal use of company-owned aircraft in the      amount of $120,895, and $257,816 for future office space and      administrative support. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | The      Compensation Committee |
|--------|---------------------------------|
|   | Gene      Frantz                |
|   | Joe      Gleberman              |

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curit

|  Title of Class |  Name and Address of Beneficial      Owner                                                | Amount and Natureof Beneficial Ownership | Percentof Class |
|----------------------|------------------------------------------------------------------------------------------------|------------------------------------------|-----------------|
| Common Stock         | Atlantis Holdings, LLCc/o TPG Partners V, L.P.301 Commerce St., Suite 3300Fort Worth, TX 76102 | 447,963,713 shares                       |  97.4%     |

|                                                 | Name of Beneficial Owner |   | Amount and Natureof Beneficial Ownership |       |   | Percent of Class(if 1% or more) |
|------------------------------------------------------|--------------------------|--------|------------------------------------------|------------|--------|---------------------------------|
| Named      Executive Officers                        | Scott      T. Ford       |   |                                     | 5,731,667  | (a)    |                            |   | 1.25% |
|                                                 | Sharilyn      S. Gasaway |   |                                     | 733,333    | (a)    |                            |   | - |
|                                                 | Jeffrey      H. Fox      |   |                                     | 2,343,333  | (a)    |                            |   | - |
|                                                 | Richard      N. Massey   |   |                                     | 1,066,667  | (a)    |                            |   | - |
|                                                 | C.J.      Duvall, Jr.    |   |                                     | 366,667    | (a)    |                            |   | - |
|                                                 |                     |   |                                     |       |   |                            |   |   |
| All Directors and Executive Officers as a      Group |                     |   |                                     | 10,283,337 | (b)    |                            |   | 2.24% |

| (a) | Includes      shares that the indicated persons have the right to acquire (through the      exercise of options) on or within 60 days after February 29, 2008 as      follows: Scott T. Ford (2,926,666); Sharilyn S. Gasaway (533,333); Jeffrey      H. Fox (1,333,333); Richard N. Massey (266,666); C.J. Duvall, Jr.      (266,666).  |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (b) | Includes      a total of 5,393,330 shares that members of the group have the right to      acquire (through the exercise of options) on or within 60 days after      February 29, 2008. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                                                            |   | (a)                                                                         |     |   | (b)                                                    |   |    | (c)                                                                                                                            |
|-----------------------------------------------------------------|--------|-----------------------------------------------------------------------------|----------|--------|--------------------------------------------------------|--------|---------|--------------------------------------------------------------------------------------------------------------------------------|
| (Thousands, except per share      amounts)                      |   | Number of securities to be issued upon exercise of outstanding options |     |   | Weighted-average exercise price of outstanding options |   |    | Number of securities availablefor future issuance under equity compensation plans, excluding securities reflectedin column (a) |
| Equity      compensation plans approved by security holders (1) |   |                                                                        | 33,590.0 |   |                                                   | $      | 8.21    |                                                                                                                           |   |   | 6,527.6 |
| Equity      compensation plans not approved by security holders |   |                                                                        |  -  |   |                                                   |   |  - |                                                                                                                           |   |   |   - |
| Totals                                                          |   |                                                                        | 33,590.0 |   |                                                   | $      | 8.21    |                                                                                                                           |   |   | 6,527.6 |

|   | (1) | Consists      of the Alltel Corporation 2007 Stock Option  Plan. |
|--------|-----|------------------------------------------------------------------|

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elation

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incip

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|                                                    |   | 2007   |    |   | 2006   |
|---------------------------------------------------------|--------|--------|---------|--------|--------|
| State      regulatory assistance                        |   | $      | 85,300  |   |   | $ | 25,200 |
| Review      of executive compensation disclosures       |   |   | 34,000  |   |   |   | - |
| Due      diligence related to the acquisition of Alltel |   |   | 91,500  |   |   |   | - |
| Wireline      business audit                            |   |   | -       |   |   |   | 98,640 |
| Convertible      debt procedures                        |   |   | -       |   |   |   | 8,450 |
| Totals                                                  |   | $      | 210,800 |   |   | $ | 132,290 |

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hibit

| (a) | The      following documents are filed as a part of this  report: |
|-----|-------------------------------------------------------------------|

| 1.     | Financial      Statements:The      following Consolidated Financial Statements of Alltel Corporation and      subsidiaries for the year ended December 31, 2007, included in the      Financial Supplement, which is incorporated by reference      herein: |                                |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------|
|   |                                                                                                                                                                                                                                                        | FinancialSupplementPage      Number |
|   | Management’s      Report on Internal Control Over Financial Reporting                                                                                                                                                                                 | F-35                                |
|   | Report      of Independent Registered Public Accounting Firm                                                                                                                                                                                                | F-36      – F-37              |
|   | Consolidated      Balance Sheets – as of December 31, 2007 and 2006                                                                                                                                                                                   | F-38                                |
|   | Consolidated      Statements of Operations                                                                                                                                                                                                                  | F-39                                |
|   | Consolidated      Statements of Cash Flows                                                                                                                                                                                                                  | F-40      – F-41              |
|   | Consolidated      Statements of Shareholders’ Equity                                                                                                                                                                                                  | F-42      – F-43              |
|   | Notes      to Consolidated Financial Statements                                                                                                                                                                                                             | F-44      – F-87              |
|   |                                                                                                                                                                                                                                                        |                                |
|   |                                                                                                                                                                                                                                                        | Form      10-K                      |
| 2.     | Financial Statement      Schedules:                                                                                                                                                                                                                         | Page      Number                    |
|   | Report      of Independent Registered Public Accounting Firm                                                                                                                                                                                                | 63                                  |
|   | Schedule      II.  Valuation and Qualifying Accounts                                                                                                                                                                                              | 64      – 65                  |
|   |                                                                                                                                                                                                                                                        |                                |
| 3.     | Exhibits:                                                                                                                                                                                                                                                   |                                |
|   | Exhibit      Index                                                                                                                                                                                                                                          | 66      – 72                  |

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Table of Contents

|   | Alltel      Corporation                                   |   |                                                   |
|--------|-----------------------------------------------------------|--------|--------------------------------------------------------|
|   | Registrant                                                |   |                                                   |
|   |                                                      |   |                                                   |
| By     | /s/ Scott T. Ford                                         |   | Date:     March      20, 2008 |
|   | Scott      T. Ford, President and Chief Executive Officer |   |                                                   |

| By                                    | /s/ Sharilyn S. Gasaway                                             |   | Date:     March      20, 2008 |                         |
|---------------------------------------|---------------------------------------------------------------------|--------|--------------------------------------------------------|------------------------------|
|                                  | Sharilyn      S. Gasaway, Executive Vice President -                |   |                                                   |                         |   |
|                                  | Chief      Financial Officer                                        |   |                                                   |                         |   |
|                                  | (Principal      Financial Officer)                                  |   |                                                   |                         |   |
|                                  |                                                                |   |                                                   |                         |   |
| By                                    | /s/ Scott T. Ford                                                   |   |                                                   |                         |   |
|                                  | Scott      T. Ford, President, Chief Executive Officer and Director |   |                                                   |                         |   |
|                                  |                                                                |   | By                                                     | /s/ Sharilyn S.      Gasaway |   |
| *Sue      P. Mosley, Controller       |                                                                |   | *      (Sharilyn S. Gasaway, Attorney-in-fact)         |                         |
|                                  | (Principal      Accounting Officer)                            |   | Date:  March      20, 2008                   |                         |
|                                  |                                                                |   |                                                   |                         |   |
| *Scott      T. Ford, CEO and Director |                                                                |   |                                                   |                         |
|                                  |                                                                |   |                                                   |                         |   |
| *James      Coulter, Director         |                                                                |   |                                                   |                         |
|                                  |                                                                |   |                                                   |                         |
| *Gene      Frantz, Director           |                                                                |   |                                                   |                         |
|                                  |                                                                |   |                                                   |                         |   |
| *Joseph      H. Gleberman, Director   |                                                                |   |                                                   |                         |
|                                  |                                                                |   |                                                   |                         |   |
| *John      W. Marren, Director        |                                                                |   |                                                   |                         |
|                                  |                                                                |   |                                                   |                         |   |
| *Leo      F. Mullin, Director         |                                                                |   |                                                   |                         |
|                                  |                                                                |   |                                                   |                         |   |
| *Peter      Perrone, Director         |                                                                |   |                                                   |                         |
|                                  |                                                                |   |                                                   |                         |

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Table of Contents

| Column A                                                                  |   | Column B        |    |   | Column C        |   |   | Column D      |   |   | Column E   |
|---------------------------------------------------------------------------|--------|-----------------|---------|--------|-----------------|--------|--------|---------------|--------|--------|------------|
|                                                                      |   |            |    |   | Additions       |   |   |          |   |   |       |
|                                                                      |   | Balance      at |    |   | Charged      to |   |   | Charged       |   |   |       |   |   | Balance      at |
|                                                                      |   | Beginning       |    |   | Cost      and   |   |   | to      Other |   |   | Deductions |   |   | End      of |
| Description                                                               |   | of Period       |    |   | Expenses        |   |   | Accounts      |   |   | Describe   |   |   | Period |
| Allowance      for doubtful accounts, customers      and other:           |   |            |    |   |            |   |   |          |   |   |       |   |   |   |
|                                                                      |   |            |    |   |            |   |   |          |   |   |       |   |   |   |
| Successor:                                                                |   |            |    |   |            |   |   |          |   |   |       |   |   |   |
| For      the period November 16, 2007 to December 31, 2007                |   | $               |  - |   |            | $      | 32.6   |          |   | $      |  -    |   |   | $ |  - |   |   | $ | 32.6 |
| Predecessor:                                                              |   |            |    |   |            |   |   |          |   |   |       |   |   |   |   |   |   |   |   |
| For      the period January 1, 2007 to November 15, 2007                  |   | $               | 54.9    |   |            | $      | 171.6  |          |   | $      |  -    |   |   | $ | 152.1 | (A) |   | $ | 74.4 |
| For      the year ended December 31, 2006                                 |   | $               | 70.6    |   |            | $      | 227.3  |          |   | $      |  -    |   |   | $ | 243.0 | (A) |   | $ | 54.9 |
| For      the year ended December 31, 2005                                 |   | $               | 37.0    |   |            | $      | 192.5  |          |   | $      |  -    |   |   | $ | 158.9 | (A) |   | $ | 70.6 |
|                                                                      |   |            |    |   |            |   |   |          |   |   |       |   |   |   |   |   |   |   |   |
| Valuation      allowance for deferred tax assets:                         |   |            |    |   |            |   |   |          |   |   |       |   |   |   |   |   |   |   |   |
|                                                                      |   |            |    |   |            |   |   |          |   |   |       |   |   |   |   |   |   |   |   |
| Successor:                                                                |   |            |    |   |            |   |   |          |   |   |       |   |   |   |   |   |   |   |   |
| For      the period November 16, 2007 to December 31, 2007                |   | $               | 16.6    |   |            | $      | 0.2    |          |   | $      |  -    |   |   | $ |  - |   |   | $ | 16.8 |
| Predecessor:                                                              |   |            |    |   |            |   |   |          |   |   |       |   |   |   |   |   |   |   |   |
| For      the period January 1, 2007 to November 15, 2007                  |   | $               | 18.8    |   |            | $      | -      |          |   | $      |  -    |   |   | $ | 2.2 | (B) |   | $ | 16.6 |
| For      the year ended December 31, 2006                                 |   | $               | 14.2    |   |            | $      | 4.6    |          |   | $      |  -    |   |   | $ |  - |   |   | $ | 18.8 |
| For      the year ended December 31, 2005                                 |   | $               | 16.2    |   |            | $      | 2.6    |          |   | $      | 0.7        |   |   | $ | 5.3 | (B) |   | $ | 14.2 |
|                                                                      |   |            |    |   |            |   |   |          |   |   |       |   |   |   |   |   |   |   |   |
| Accrued      liabilities related to restructuring and      other charges: |   |            |    |   |            |   |   |          |   |   |       |   |   |   |   |   |   |   |   |
|                                                                      |   |            |    |   |            |   |   |          |   |   |       |   |   |   |   |   |   |   |   |
| Successor:                                                                |   |            |    |   |            |   |   |          |   |   |       |   |   |   |   |   |   |   |   |
| For      the period November 16, 2007 to December 31, 2007                |   | $               | 554.6   |   |            | $      | 5.2    | (C)           |   | $      | -          |   |   | $ | 377.5 | (D) |   | $ | 182.3 |
| Predecessor:                                                              |   |            |    |   |            |   |   |          |   |   |       |   |   |   |   |   |   |   |   |
| For      the period January 1, 2007 to November 15, 2007                  |   | $               | 0.1     |   |            | $      | 667.0  | (E)           |   | $      | -          |   |   | $ | 112.5 | (F) |   | $ | 554.6 |
| For      the year ended December 31, 2006                                 |   | $               | 0.2     |   |            | $      | 13.7   | (G)           |   | $      | -          |   |   | $ | 13.8 | (H) |   | $ | 0.1 |
| For      the year ended December 31, 2005                                 |   | $               | 0.7     |   |            | $      | 23.0   | (I)           |   | $      | -          |   |   | $ | 23.5 | (J) |   | $ | 0.2 |

|  | (A) | Accounts      charged off net of recoveries of amounts previously written      off. |
|--|-----|-------------------------------------------------------------------------------------|

|  | (B) | Reduction      in valuation allowance due to utilization of state net operating loss      carryforwards. |
|--|-----|----------------------------------------------------------------------------------------------------------|

|  | (C) | During      the Successor period from November 16, 2007 to December 31, 2007, Alltel      incurred $5.2 million of incremental expenses related to the completion of      the Merger, which included insurance premiums of $4.2 million to obtain      retroactive indemnification coverage for departing directors and officers      for events that occurred prior to the Merger and $1.0 million in employee      retention bonuses. |
|--|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (D) | Includes      cash outlays of $377.5 million for expenses paid during the period      November 16, 2007 to December 31,2007. |
|--|-----|------------------------------------------------------------------------------------------------------------------------------|

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|  | (E) | During      the Predecessor period from January 1, 2007 to November 15, 2007, Alltel      recorded integration expenses of $12.0 million related to its 2006      acquisitions of Midwest Wireless and properties in Illinois, Texas and      Virginia and recorded restructuring and other charges of $7.1 million in      connection with the closing of two call centers.  In connection      with its acquisition by two private investment firms, Alltel also incurred      $647.9 million of incremental costs, which included financial advisory,      legal, accounting, regulatory filing, and other fees of $177.6 million,      stock-based compensation expense of $63.8 million related to the      accelerated vesting of employee stock option and restricted stock awards,      a curtailment charge of $118.6 million resulting from the termination and      payout of the supplemental executive retirement plan, and additional      compensation-related costs of $287.9 million primarily related to      change-in-control payments to certain executives, bonus payments and      related payroll taxes. |
|--|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (F) | Includes      cash outlays of $106.5 million for expenses paid and other      non-cash adjustments of $6.0 million during the      Predecessor period January 1, 2007 to November 15,    2007. |
|--|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (G) | During      2006, Alltel recorded integration expenses of $13.7 million related to its      acquisition of Western Wireless Corporation (“Western Wireless”) in 2005      and the acquisitions of Midwest Wireless and wireless properties in      Illinois, Texas and Virginia completed during  2006. |
|--|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (H) | Included      cash outlays of $13.8 million for expenses paid in 2006, primarily      consisting of branding, signage and computer system conversion costs      related to the acquisitions discussed in Note  (G). |
|--|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (I) | During      2005, Alltel recorded integration expenses of $23.0 million in connection      with its exchange of wireless assets with AT&T Mobility LLC (formerly      known as Cingular Wireless LLC) (“AT&T”), merger with Western Wireless      and the acquisition of wireless properties in Alabama and      Georgia. |
|--|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (J) | Included      cash outlays of $8.5 million for expenses paid in 2005 and non-cash      charges of $15.0 million, primarily consisting of handset subsidies      incurred to migrate the customer base to CDMA handsets in the markets      acquired from AT&T and those acquired in Alabama and      Georgia.  The handset subsidies were included in the total      amount of integration expenses discussed in Note  (I). |
|--|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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Table of Contents

| Number and      Name |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|----------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |
| (3)(a)(1)            | Amended      and Restated Certificate of Incorporation of Alltel Corporation      (incorporated herein by reference to Exhibit 3.1 to Current Report on Form      8-K dated November 20, 2007 and filed with the Commission on November 21,      2007).                                                                                                                                                                                                                                | * |
|                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |
| (b)                  | Bylaws      of Alltel Corporation (amended and restated as of January 25,      2008)                                                                                                                                                                                                                                                                                                                                                                                                   | (a) |
|                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |
| (4)(a)(1)            | Form      of Indenture, dated January 1, 1987 between Alltel Corporation and      Ameritrust Company National Association (incorporated herein by reference      to Exhibit 4-a of Alltel Corporation Registration Statement on Form S-3      dated December 16, 1986).                                                                                                                                                                                                                | * |
|                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |
| (a)(2)               | Senior      Notes Indenture dated as of December 3, 2007 among Alltel Communications,      Inc. and Alltel Communications Finance, Inc., Alltel Corporation and Wells      Fargo Bank, National Association (incorporated herein by reference to      Exhibit 10.1 to Current Report on Form 8-K dated December 7, 2007 and      filed with the Commission on December 7, 2007).                                                                                                       | * |
|                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |
| (a)(3)               | First      Supplemental Indenture dated as of December 14, 2007, among Alltel New      License Sub, LLC, a subsidiary of Alltel Communications Inc., Alltel      Communications Finance, Inc. and Wells Fargo Bank, National Association,      as trustee.                                                                                                                                                                                                                             | (a) |
|                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |
| (a)(4)               | Second      Supplemental Indenture dated as of January 25, 2008 to indenture dated as      of December 3, 2007 among Alltel Communications, LLC and Alltel      Communications Finance, Inc., as issuers, the Guarantors listed in the      Indenture and Wells Fargo Bank, National Association, as Trustee Senior      Cash-Pay Notes due 2015 and Senior Toggle Notes due 2017.                                                                                                     | (a) |
|                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |
| (b)(1)               | Registration      Rights Agreement, dated as of December 3, 2007, among ALLTEL      Communications, Inc. and Alltel Communications Finance, Inc., Alltel      Corporation, the subsidiary guarantors named therein and the Initial      Purchasers (incorporated herein by reference to Exhibit 10.2 to Current      Report on Form 8-K dated December 7, 2007 and filed with the Commission on      December 7, 2007).                                                                | * |
|                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |
| (b)(2)               | Registration      Rights Agreement, dated as of December 3, 2007, among ALLTEL      Communications, Inc. and Alltel Communications Finance, Inc., Alltel      Corporation, the subsidiary guarantors named therein, GSMP V Onshore US,      Ltd., GSMP V Offshore US, Ltd. and GSMP V Institutional US, Ltd.      (incorporated herein by reference to Exhibit 10.3 to Current Report on      Form 8-K dated December 7, 2007 and filed with the Commission on December      7, 2007). | * |
|                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |
| (c)(1)               | Guaranty      dated as of November 16, 2007 among Alltel Corporation, as Parent, Alltel      Communications, Inc., as the Borrower, Certain Subsidiaries of Alltel      Corporation and Citibank, N.A., as Administrative Agent.                                                                                                                                                                                                                                                       | (a) |
|                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |
| (c)(2)               | Supplement      No.1 dated as of December 14, 2007 to the Guaranty dated as of November      16, 2007 among Alltel Corporation, as Parent, Alltel Communications, Inc.,      as the Borrower, Certain Subsidiaries of Alltel Corporation and Citibank,      N.A., as Administrative Agent.                                                                                                                                                                                             | (a) |
|                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |
| (c)(3)               | Senior      Interim Loan Guarantee dated as of November 16, 2007 among Alltel      Corporation, as Parent, Alltel Communications, Inc. and Alltel      Communications Finance, Inc., as the Borrowers, Certain Subsidiaries of      Alltel Corporation and Citibank, N.A., as Administrative      Agent.                                                                                                                                                                               | (a) |
|                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |
| (c)(4)               | Supplement      No.1 dated as of December 14, 2007 to the Senior Interim Loan Guarantee      dated as of November 16, 2007 among Alltel Corporation, as Parent, Alltel      Communications, Inc. and Alltel Communications Finance, Inc., as the      Borrowers, Certain Subsidiaries of Alltel Corporation and Citibank, N.A.,      as Administrative Agent.                                                                                                                          | (a) |
|                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |
|                 | The      Company agrees to provide to the Commission, upon request, copies of any      agreement defining rights of long-term debt holders.                                                                                                                                                                                                                                                                                                                                            | * |

| * | Incorporated      herein by reference as indicated. |
|---|-----------------------------------------------------|

| (a) | Filed      herewith. |
|-----|----------------------|

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| Number and      Name |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|----------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |
| (10)(a)(1)           | Credit      Agreement dated as of November 16, 2007, among Alltel Communications,      Inc., Alltel Corporation, Citibank, N.A., Goldman Sachs Credit Partners,      L.P., Barclays Bank PLC, Citigroup Global Markets, Inc., Barclays Capital      and RBS Securities Corporation (incorporated herein by reference to      Exhibit 10.1 to Current Report on Form 8-K dated November 20, 2007 and      filed with the Commission on November 21, 2007).                                                                                            | * |
|                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |
| (a)(2)               | Pledge      and Security Agreement dated as of November 16, 2007 among Alltel      Communications, Inc., Certain Subsidiaries of Alltel Corporation and      Alltel Communications, Inc. and Citibank, N.A. (incorporated herein by      reference to Exhibit 10.2 to Current Report on Form 8-K dated November 20,      2007 and filed with the Commission on November 21, 2007).                                                                                                                                                                   | * |
|                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |
| (a)(3)               | Senior      Interim Loan Credit Agreement dated November 16, 2007 among Alltel      Communications, Inc., Alltel Communications Finance, Inc., Alltel      Corporation, Citibank, N.A., Goldman Sachs Credit Partners L.P., Barclays      Bank PLC and The Royal Bank of Scotland PLC, Citigroup Global Markets      Inc., Barclays Capital and RBS Securities Corporation (incorporated herein      by reference to Exhibit 1032 to Current Report on Form 8-K dated November      20, 2007 and filed with the Commission on November 21,    2007). | * |
|                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |
| (b)(1)               | Management      Services Agreement dated November 16, 2007, by and among Atlantis Merger      Sub, Inc., Atlantis Holdings LLC, Goldman, Sachs & Co. and TPG      Capital, L.P.                                                                                                                                                                                                                                                                                                                                                                  | (a) |
|                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |
| (c)(1)               | Employment      Agreement by and between Alltel Corporation and Scott T. Ford effective as      of November 16, 2007.                                                                                                                                                                                                                                                                                                                                                                                                                                | (a) |
|                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |
| (c)(2)               | Employment      Agreement by and between Alltel Corporation and Jeffrey H. Fox effective      as of November 16, 2007.                                                                                                                                                                                                                                                                                                                                                                                                                               | (a) |
|                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |
| (c)(3)               | Employment      Agreement by and between Alltel Corporation and Sharilyn S. Gasaway      effective as of November 16, 2007.                                                                                                                                                                                                                                                                                                                                                                                                                          | (a) |
|                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |
| (c)(4)               | Employment      Agreement by and between Alltel Corporation and Richard N. Massey      effective as of November 16, 2007.                                                                                                                                                                                                                                                                                                                                                                                                                            | (a) |
|                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |
| (c)(5)               | Employment      Agreement by and between Alltel Corporation and C.J. Duvall, Jr. effective      as of November 16, 2007.                                                                                                                                                                                                                                                                                                                                                                                                                             | (a) |
|                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |
| (d)(1)               | Management      Stockholder’s Agreement dated as of November 16, 2007, among Alltel      Corporation, Atlantis Holdings LLC and Scott T. Ford.                                                                                                                                                                                                                                                                                                                                                                                                 | (a) |
|                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |
| (d)(2)               | Form      of Management Stockholders’ Agreement dated as of November 16, 2007, among      Alltel Corporation, Atlantis Holdings LLC and the Majority Stockholders      and certain management investors.                                                                                                                                                                                                                                                                                                                                       | (a) |
|                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |
| (e)(1)               | Alltel      Corporation 2007 Stock Option Plan.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | (a) |
|                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |
| (f)(1)               | Alltel      Corporation 1998 Management Deferred Compensation Plan, effective June 23,      1998 (incorporated herein by reference to Exhibit 10(f)(5) to Form 10-Q      for the period ended June 30, 1998).                                                                                                                                                                                                                                                                                                                                        | * |
|                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |
| (f)(2)               | Amendment      No. 1 to the Alltel Corporation 1998 Management Deferred Compensation Plan      effective June 23, 1998 (incorporated herein by reference to Exhibit      10(f)(11) to Form 10-K for the fiscal year ended December 31,      2002).                                                                                                                                                                                                                                                                                                   | * |

| * | Incorporated      herein by reference as indicated. |
|---|-----------------------------------------------------|

| (a) | Filed      herewith. |
|-----|----------------------|

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| Number and      Name |                                                                                                                                                                                                                                                                                  |
|----------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                 |                                                                                                                                                                                                                                                                                  |   |
| (10)(f)(3)           | Amendment      No. 2 to the Alltel Corporation 1998 Management Deferred Compensation Plan      effective April 25, 2002 (incorporated herein by reference to Exhibit      10(f)(12) to Form 10-K for the fiscal year ended December 31,      2002).                                   | * |
|                 |                                                                                                                                                                                                                                                                                  |   |
| (f)(4)               | Amendment      No. 3 to the Alltel Corporation 1998 Management Deferred Compensation Plan      effective December 8, 2005 (incorporated herein by reference to Exhibit      10(e)(15) to Form 10-K for the fiscal year ended December 31,      2005).                                 | *  |
|                 |                                                                                                                                                                                                                                                                                  |   |
| (f)(5)               | Amendment      No. 4 to the Alltel Corporation 1998 Management Deferred Compensation Plan      effective July 16, 2006 (incorporated herein by reference to Exhibit 10.7      to Current Report on Form 8-K dated July 17, 2006 and filed with the      Commission on July 21, 2006). | * |
|                 |                                                                                                                                                                                                                                                                                  |   |
| (f)(6)               | Amendment      No. 5 to the Alltel Corporation 1998 Management Deferred Compensation Plan      effective November 1, 2006.                                                                                                                                                            | (a) |
|                 |                                                                                                                                                                                                                                                                                  |   |
| (f)(7)               | Amendment      No. 6 to the Alltel Corporation 1998 Management Deferred Compensation Plan      effective June 23, 1998.                                                                                                                                                               | (a) |
|                 |                                                                                                                                                                                                                                                                                  |   |
| (f)(8)               | Amendment      No. 7 to the Alltel Corporation 1998 Management Deferred Compensation Plan      effective August 1, 2007.                                                                                                                                                              | (a) |
|                 |                                                                                                                                                                                                                                                                                  |   |
| (f)(9)               | Amendment      No. 8 to the Alltel Corporation 1998 Management Deferred Compensation Plan      effective January 1, 2008.                                                                                                                                                             | (a) |
|                 |                                                                                                                                                                                                                                                                                  |   |
| (g)(1)               | Alltel      Corporation Performance Incentive Compensation Plan, as amended and      restated effective as of November 16, 2007.                                                                                                                                                      | (a) |
|                 |                                                                                                                                                                                                                                                                                  |   |
| (g)(2)               | Alltel      Corporation Special Annual Bonus Plan effective as of November 16,      2007.                                                                                                                                                                                        | (a) |
|                 |                                                                                                                                                                                                                                                                                  |   |
| (h)(1)               | Alltel      Corporation Pension Plan (January 1, 2001 Restatement) (incorporated      herein by reference to Exhibit 10(k) to Form 10-K for the fiscal year      ended December 31, 2001).                                                                                            | * |
|                 |                                                                                                                                                                                                                                                                                  |   |
| (h)(2)               | Amendment      No. 1 to Alltel Corporation Pension Plan (January 1, 2001 Restatement)      (incorporated herein by reference to Exhibit 10(k)(1) to Form 10-Q for the      period ended September 30, 2002).                                                                          | * |
|                 |                                                                                                                                                                                                                                                                                  |   |
| (h)(3)               | Amendment      No. 2 to Alltel Corporation Pension Plan (January 1, 2001 Restatement)      (incorporated herein by reference to Exhibit 10(k)(3) to Form 10-K for the      fiscal year ended December 31, 2002).                                                                      | * |
|                 |                                                                                                                                                                                                                                                                                  |   |
| (h)(4)               | Amendment      No. 3 to Alltel Corporation Pension Plan (January 1, 2001 Restatement)      (incorporated herein by reference to Exhibit 10(k)(4) to Form 10-Q for the      period ended June 30, 2003).                                                                               | * |
|                 |                                                                                                                                                                                                                                                                                  |   |
| (h)(5)               | Amendment      No. 4 to Alltel Corporation Pension Plan (January 1, 2001 Restatement)      (incorporated herein by reference to Exhibit 10(k)(9) to Form 10-Q for the      period ended June 30, 2004).                                                                               | * |
|                 |                                                                                                                                                                                                                                                                                  |   |
| (h)(6)               | Amendment      No. 5 to Alltel Corporation Pension Plan (January 1, 2001 Restatement)      (incorporated herein by reference to Exhibit 10(k)(5) to Form 10-K for the      fiscal year ended December 31, 2003).                                                                      | * |
|                 |                                                                                                                                                                                                                                                                                  |   |
| (h)(7)               | Amendment      No. 6 to Alltel Corporation Pension Plan (January 1, 2001 Restatement)      (incorporated herein by reference to Exhibit (10)(k)(6) to Form 10-K for      the fiscal year ended December 31, 2003).                                                                    | * |
|                 |                                                                                                                                                                                                                                                                                  |   |
| (h)(8)               | Amendment      No. 7 to Alltel Corporation Pension Plan (January 1, 2001 Restatement)      (incorporated herein by reference to Exhibit (10)(k)(7) to Form 10-K for      the fiscal year ended December 31, 2003).                                                                    | * |

| * | Incorporated      herein by reference as indicated. |
|---|-----------------------------------------------------|

| (a) | Filed      herewith. |
|-----|----------------------|

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| Number and      Name |                                                                                                                                                                                                                      |
|----------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                 |                                                                                                                                                                                                                      |   |
| (10)(h)(9)           | Amendment      No. 8 to Alltel Corporation Pension Plan (January 1, 2001 Restatement)      (incorporated herein by reference to Exhibit (10)(k)(8) to Form 10-K for      the fiscal year ended December 31, 2003).        | * |
|                 |                                                                                                                                                                                                                      |   |
| (h)(10)              | Amendment      No. 9 to Alltel Corporation Pension Plan (January 1, 2001 Restatement)      (incorporated herein by reference to Exhibit (10)(k)(10) to Form 10-K for      the fiscal year ended December 31, 2004).       | * |
|                 |                                                                                                                                                                                                                      |   |
| (h)(11)              | Amendment      No. 10 to Alltel Corporation Pension Plan (January 1, 2001 Restatement)      (incorporated herein by reference to Exhibit (10)(k)(11) to Form 10-K for      the fiscal year ended December 31, 2004).      | * |
|                 |                                                                                                                                                                                                                      |   |
| (h)(12)              | Amendment      No. 11 to Alltel Corporation Pension Plan (January 1, 2001 Restatement)      (incorporated herein by reference to Exhibit (10)(k)(12) to Form 10-K for      the fiscal year ended December 31, 2004).      | * |
|                 |                                                                                                                                                                                                                      |   |
| (h)(13)              | Amendment      No. 12 to Alltel Corporation Pension Plan (January 1, 2001 Restatement)      (incorporated herein by reference to Exhibit (10)(k)(13) to Form 10-Q for      the period ended September 30, 2005).          | * |
|                 |                                                                                                                                                                                                                      |   |
| (h)(14)              | Amendment      No. 13 to Alltel Corporation Pension Plan (January 1, 2001 Restatement)      (incorporated herein by reference to Exhibit (10)(j)(14) to Form 10-K for      the fiscal year ended December 31, 2005).      | * |
|                 |                                                                                                                                                                                                                      |   |
| (h)(15)              | Amendment      No. 14 to Alltel Corporation Pension Plan (January 1, 2001 Restatement)      (incorporated herein by reference to Exhibit (10)(j)(15) to Form 10-K for      the fiscal year ended December 31, 2005).      | * |
|                 |                                                                                                                                                                                                                      |   |
| (h)(16)              | Amendment      No. 15 to Alltel Corporation Pension Plan (January 1, 2001 Restatement)      (incorporated herein by reference to Exhibit (10)(j)(16) to Form 10-Q for      the period ended June 30, 2006).               | * |
|                 |                                                                                                                                                                                                                      |   |
| (i)(1)               | Alltel      Corporation Profit Sharing Plan (January 1, 2002 Restatement)      (incorporated herein by reference to Exhibit 10(l) to Form 10-Q for the      period ended March 31, 2002).                                 | * |
|                 |                                                                                                                                                                                                                      |   |
| (i)(2)               | Amendment      No. 1 to Alltel Corporation Profit Sharing Plan (January 1, 2002      Restatement) (incorporated herein by reference to Exhibit 10(l)(2) to Form      10-K for the fiscal year ended December 31, 2002).   | * |
|                 |                                                                                                                                                                                                                      |   |
| (i)(3)               | Amendment      No. 2 to Alltel Corporation Profit Sharing Plan (January 1, 2002      Restatement) (incorporated herein by reference to Exhibit 10(I)(3) to Form      10-K for the fiscal year ended December 31, 2003).   | * |
|                 |                                                                                                                                                                                                                      |   |
| (i)(4)               | Amendment      No. 3 to Alltel Corporation Profit Sharing Plan (January 1, 2002      Restatement) (incorporated herein by reference to Exhibit 10(I)(4) to Form      10-K for the fiscal year ended December 31, 2003).   | * |
|                 |                                                                                                                                                                                                                      |   |
| (i)(5)               | Amendment      No. 4 to Alltel Corporation Profit Sharing Plan (January 1, 2002      Restatement) (incorporated herein by reference to Exhibit 10(I)(5) to Form      10-K for the fiscal year ended December 31, 2003).   | * |
|                 |                                                                                                                                                                                                                      |   |
| (i)(6)               | Amendment      No. 5 to Alltel Corporation Profit Sharing Plan (January 1, 2002      Restatement) (incorporated herein by reference to Exhibit (10)(l)(6) to      Form 10-K for the fiscal year ended December 31, 2004). | * |

| * | Incorporated      herein by reference as indicated. |
|---|-----------------------------------------------------|

| (a) | Filed      herewith. |
|-----|----------------------|

----

Table of Contents

| Number and      Name |                                                                                                                                                                                                                                                                  |
|----------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                 |                                                                                                                                                                                                                                                                  |   |
| (10)(i)(7)           | Amendment      No. 6 to Alltel Corporation Profit Sharing Plan (January 1, 2002      Restatement) (incorporated herein by reference to Exhibit (10)(l)(7) to      Form 10-Q for the period ended September 30, 2005).                                            | * |
|                 |                                                                                                                                                                                                                                                                  |   |
| (i)(8)               | Amendment      No. 7 to Alltel Corporation Profit Sharing Plan (January 1, 2002      Restatement) (incorporated herein by reference to Exhibit (10)(k)(8) to      Form 10-K for the fiscal year ended December 31, 2005).                                             | * |
|                 |                                                                                                                                                                                                                                                                  |   |
| (i)(9)               | Amendment      No. 8 to Alltel Corporation Profit Sharing Plan (January 1, 2002      Restatement) (incorporated herein by reference to Exhibit (10)(k)(9) to      Form 10-Q for the period ended June 30, 2006).                                                      | * |
|                 |                                                                                                                                                                                                                                                                  |   |
| (i)(10)              | Amendment      No. 9 to Alltel Corporation Profit Sharing Plan (January 1, 2002      Restatement) (incorporated herein by reference to Exhibit (10)(k)(10) to      Form 10-Q for the period ended June 30, 2006).                                                     | * |
|                 |                                                                                                                                                                                                                                                                  |   |
| (i)(11)              | Amendment      No. 10 to Alltel Corporation Profit Sharing Plan (January 1, 2002      Restatement) (incorporated herein by reference to Exhibit 10(k)(11) to      Form 10-K for the fiscal year ended December 31, 2006).                                             | * |
|                 |                                                                                                                                                                                                                                                                  |   |
| (i)(12)              | Amendment      No. 11 to Alltel Corporation Profit Sharing Plan (January 1, 2002      Restatement) (incorporated herein by reference to Exhibit 10(k)(12) to      Form 10-K for the fiscal year ended December 31, 2006).                                             | * |
|                 |                                                                                                                                                                                                                                                                  |   |
| (i)(13)              | Amendment      No. 12 to Alltel Corporation Profit Sharing Plan (January 1, 2002      Restatement) (incorporated herein by reference to Exhibit 10(k)(13) to      Form 10-K for the fiscal year ended December 31, 2006).                                             | * |
|                 |                                                                                                                                                                                                                                                                  |   |
| (j)(1)               | Alltel      Corporation Benefit Restoration Plan (January 1, 1996 Restatement)      (incorporated herein by reference to Exhibit 10(m) to Form 10-K for the      fiscal year ended December 31, 1995).                                                                | * |
|                 |                                                                                                                                                                                                                                                                  |   |
| (j)(2)               | Amendment      No. 1 to Alltel Corporation Benefit Restoration Plan (January 1, 1996      Restatement) (incorporated herein by reference to Exhibit 10(l)(2) to Form      10-K for the fiscal year ended December 31, 2006).                                          | * |
|                 |                                                                                                                                                                                                                                                                  |   |
| (j)(3)               | Amendment      No. 2 to Alltel Corporation Benefit Restoration Plan (January 1, 1996      Restatement) (incorporated herein by reference to Exhibit 10(l)(3) to Form      10-K for the fiscal year ended December 31, 2006).                                          | * |
|                 |                                                                                                                                                                                                                                                                  |   |
| (j)(4)               | Amendment      No. 3 to Alltel Corporation Benefit Restoration Plan (January 1, 1996      Restatement) (incorporated herein by reference to Exhibit 10.5 to Current      Report on Form 8-K dated July 17, 2006 and filed with the Commission on      July 21, 2006). | * |
|                 |                                                                                                                                                                                                                                                                  |   |
| (j)(5)               | Amendment      No. 4 to Alltel Corporation Benefit Restoration Plan (January 1, 1996      Restatement) (incorporated herein by reference to Exhibit 10(l)(5) to Form      10-K for the fiscal year ended December 31, 2006).                                          | * |
|                 |                                                                                                                                                                                                                                                                  |   |
| (j)(6)               | Amendment      No. 5 to Alltel Corporation Benefit Restoration Plan (January 1, 1996      Restatement).                                                                                                                                                               | (a) |
|                 |                                                                                                                                                                                                                                                                  |   |
| (k)(1)               | Alltel      Corporation Comprehensive Plan of Group Insurance (January 1, 2006      Restatement) (incorporated herein by reference to Exhibit 10(m)(1) to Form      10-K for the fiscal year ended December 31, 2006).                                                | * |

| * | Incorporated      herein by reference as indicated. |
|---|-----------------------------------------------------|

| (a) | Filed      herewith. |
|-----|----------------------|

----

Table of Contents

| Number and      Name |                                                                                                                                                                                                                                                           |
|----------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                 |                                                                                                                                                                                                                                                           |   |
| (10)(k)(2)           | Amendment      No. 1 to Alltel Corporation Comprehensive Plan of Group Insurance (January      1, 2006 Restatement) (incorporated herein by reference to Exhibit 10(m)(2)      to Form 10-Q for the period ended June 30, 2007).                               | * |
|                 |                                                                                                                                                                                                                                                           |   |
| (l)(1)               | Amended      and Restated Alltel Corporation Supplemental Medical Expense Reimbursement      Plan (incorporated herein by reference to Exhibit 10(p) to Form 10-K for      the fiscal year ended December 31, 1990).                                      | * |
|                 |                                                                                                                                                                                                                                                           |   |
| (l)(2)               | First      Amendment to Alltel Corporation Supplemental Medical Expense Reimbursement      Plan (incorporated herein by reference to Exhibit 10(n)(1) to Form 10-K      for the fiscal year ended December 31, 2001).                                          | * |
|                 |                                                                                                                                                                                                                                                           |   |
| (l)(3)               | Amendment      No. 2 to Alltel Corporation Supplemental Medical Expense Reimbursement      Plan (incorporated herein by reference to Exhibit 10.8 to Current Report      on Form 8-K dated July 17, 2006 and filed with the Commission on July 21,      2006). | * |
|                 |                                                                                                                                                                                                                                                           |   |
| (m)(1)               | Alltel      Corporation 401(k) Plan (January 1, 2001 Restatement) (incorporated herein      by reference to Exhibit 10(o) to Form 10-K for the fiscal year ended      December 31, 2001).                                                                      | * |
|                 |                                                                                                                                                                                                                                                           |   |
| (m)(2)               | Amendment      No. 1 to Alltel Corporation 401(k) Plan (January 1, 2001 Restatement)      (incorporated herein by reference to Exhibit 10(o)(2) to Form 10-K for the      fiscal year ended December 31, 2002).                                                | * |
|                 |                                                                                                                                                                                                                                                           |   |
| (m)(3)               | Amendment      No. 2 to Alltel Corporation 401(k) Plan (January 1, 2001 Restatement)      (incorporated herein by reference to Exhibit 10(o)(3) to Form 10-K for the      fiscal year ended December 31, 2002).                                                | * |
|                 |                                                                                                                                                                                                                                                           |   |
| (m)(4)               | Amendment      No. 3 to Alltel Corporation 401(k) Plan (January 1, 2001 Restatement)      (incorporated herein by reference to Exhibit 10(o)(4) to Form 10-Q for the      period ended June 30, 2003).                                                         | * |
|                 |                                                                                                                                                                                                                                                           |   |
| (m)(5)               | Amendment      No. 4 to Alltel Corporation 401(k) Plan (January 1, 2001 Restatement)      (incorporated herein by reference to Exhibit 10(o)(5) to Form 10-K for the      fiscal year ended December 31, 2003).                                                | * |
|                 |                                                                                                                                                                                                                                                           |   |
| (m)(6)               | Amendment      No. 5 to Alltel Corporation 401(k) Plan (January 1, 2001 Restatement)      (incorporated herein by reference to Exhibit 10(o)(6) to Form 10-K for the      fiscal year ended December 31, 2003).                                                | * |
|                 |                                                                                                                                                                                                                                                           |   |
| (m)(7)               | Amendment      No. 6 to Alltel Corporation 401(k) Plan (January 1, 2001 Restatement)      (incorporated herein by reference to Exhibit 10(o)(7) to Form 10-Q for the      period ended June 30, 2004).                                                         | * |
|                 |                                                                                                                                                                                                                                                           |   |
| (m)(8)               | Amendment      No. 7 to Alltel Corporation 401(k) Plan (January 1, 2001 Restatement)      (incorporated herein by reference to Exhibit 10(o)(8) to Form 10-K for the      fiscal year ended December 31, 2004).                                                | * |
|                 |                                                                                                                                                                                                                                                           |   |
| (m)(9)               | Amendment      No. 8 to Alltel Corporation 401(k) Plan (January 1, 2001 Restatement)      (incorporated herein by reference to Exhibit 10(o)(9) to Form 10-Q for the      period ended September 30, 2005).                                                    | * |
|                 |                                                                                                                                                                                                                                                           |   |
| (m)(10)              | Amendment      No. 9 to Alltel Corporation 401(k) Plan (January 1, 2001 Restatement)      (incorporated herein by reference to Exhibit 10(n)(10) to Form 10-K for      the fiscal year ended December 31, 2005).                                               | * |
|                 |                                                                                                                                                                                                                                                           |   |
| (m)(11)              | Amendment      No. 10 to Alltel Corporation 401(k) Plan (January 1, 2001 Restatement)      (incorporated herein by reference to Exhibit 10(n)(11) to Form 10-Q for      the period ended June 30, 2006).                                                       | * |
|                 |                                                                                                                                                                                                                                                           |   |
| (m)(12)              | Amendment      No. 11 to Alltel Corporation 401(k) Plan (January 1, 2001 Restatement)      (incorporated herein by reference to Exhibit 10(n)(12) to Form 10-Q for      the period ended June 30, 2006).                                                       | * |
|                 |                                                                                                                                                                                                                                                           |   |
| (m)(13)              | Amendment      No. 12 to Alltel Corporation 401(k) Plan (January 1, 2001 Restatement)      (incorporated herein by reference to Exhibit 10(n)(13) to Form 10-Q for      the period ended June 30, 2006).                                                       | * |

| * | Incorporated      herein by reference as indicated. |
|---|-----------------------------------------------------|

| (a) | Filed      herewith. |
|-----|----------------------|

----

Table of Contents

| Number and      Name |                                                                                                                                                                                                              |
|----------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                 |                                                                                                                                                                                                              |   |
| (10)(m)(14)          | Amendment      No. 13 to Alltel Corporation 401(k) Plan (January 1, 2001 Restatement)      (incorporated herein by reference to Exhibit 10(o)(14) to Form 10-K for      the fiscal year ended December 31, 2006). | * |
|                 |                                                                                                                                                                                                              |   |
| (m)(15)              | Amendment      No. 14 to Alltel Corporation 401(k) Plan (January 1, 2001 Restatement)      (incorporated herein by reference to Exhibit 10(o)(15) to Form 10-K for      the fiscal year ended December 31, 2006). | * |
|                 |                                                                                                                                                                                                              |   |
| (m)(16)              | Amendment      No. 15 to Alltel Corporation 401(k) Plan (January 1, 2001 Restatement)      (incorporated herein by reference to Exhibit 10(o)(16) to Form 10-Q for      the period ended March 31, 2007).         | * |
|                 |                                                                                                                                                                                                              |   |
| (12)                 | Statements      Re: Computation of ratios.                                                                                                                                                                        | (a) |
|                 |                                                                                                                                                                                                              |   |
| (21)                 | Subsidiaries      of Alltel Corporation.                                                                                                                                                                          | (a) |
|                 |                                                                                                                                                                                                              |   |
| (24)                 | Powers      of attorney.                                                                                                                                                                                          | (a) |
|                 |                                                                                                                                                                                                              |   |
| 31(a)                | Certification      of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley      Act of 2002.                                                                                                     | (a) |
|                 |                                                                                                                                                                                                              |   |
| 31(b)                | Certification      of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley      Act of 2002.                                                                                                     | (a) |
|                 |                                                                                                                                                                                                              |   |
| 32(a)                | Certification      of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted      pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.                                                      | (a) |
|                 |                                                                                                                                                                                                              |   |
| 32(b)                | Certification      of Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted      pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.                                                      | (a) |

| * | Incorporated      herein by reference as indicated. |
|---|-----------------------------------------------------|

| (a) | Filed      herewith. |
|-----|----------------------|

----

----

INDEX TO FINANCIAL SUPPLEMENT

| Management’s      Discussion and Analysis of Financial Condition and Results of      Operations | F-2      – F-32  |
|------------------------------------------------------------------------------------------------------------|------------------------|
|                                                                                                       |                   |
| Selected Financial Data                                                                                    | F-33      – F-34 |
|                                                                                                       |                   |
| Management’s Report on Internal Control Over Financial      Reporting                                | F-35                   |
|                                                                                                       |                   |
| Reports of Independent Registered Public Accounting      Firm                                              | F-36      – F-37 |
|                                                                                                       |                   |
| Annual      Financial Statements:                                                                          |                   |
|                                                                                                       |                   |
| Consolidated Balance Sheets                                                                                | F-38                   |
|                                                                                                       |                   |
| Consolidated Statements of Operations                                                                      | F-39                   |
|                                                                                                       |                   |
| Consolidated Statements of Cash Flows                                                                      | F-40      – F-41 |
|                                                                                                       |                   |
| Consolidated Statements of Shareholders’    Equity                                                   | F-42      – F-43 |
|                                                                                                       |                   |
| Notes to Consolidated Financial    Statements                                                              | F-44      – F-87 |
|                                                                                                       |                   |

----

Index to Financial Supplement 

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTSOF OPERATIONS

| · | Revenues      and sales increased 12 percent over 2006 driven by postpay customer      growth, increased revenues derived from data services and additional      Eligible Telecommunications Carrier (“ETC”) support.  Average      monthly revenue per customer and monthly retail revenue per customer both      increased 3 percent year-over-year to $54.30 and $48.40, respectively, as      the growth in data and ETC revenues discussed above was partially offset      by decreases in voice revenues per customer.  Average revenue      per customer for 2007 also reflected additional wholesale transport      revenues earned from charging third parties, principally Windstream      Corporation (“Windstream”), for use of Alltel’s fiber-optic      network. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | Gross      customer additions were 3.6 million in 2007 and net customer additions      were 961,000.  Excluding the effects of acquisitions and      dispositions, the 3.6 million in gross customer additions in 2007      represents a 9 percent increase from a year ago, while the net customer      additions of 966,000 represents a 51 percent increase from      2006.  Alltel added 721,000 net postpay customers and 245,000      net prepaid customers during 2007.  The net gain in prepaid      customers included the addition of 124,000 net customers in the fourth      quarter of 2007, driven by continued success of Alltel’s “U” prepaid      service offering, Alltel’s phone-in-the-box prepay service that is sold      primarily through Wal-Mart and Target.  Postpay churn decreased      29 basis points from 2006 to 1.28 percent, while total churn, which      includes prepay customer losses, declined 21 basis points year-over-year      to 1.79 percent. |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

Index to Financial Supplement 

----

Index to Financial Supplement 

----

Index to Financial Supplement 

| CUSTOMER      AND OTHER OPERATING STATISTICS          |
|-------------------------------------------------------|
| (Thousands,      except per customer amounts)         |   | 2007 |   |   | 2006 |   |   | 2005 |
| Customers                                             |   |   | 12,785.2 |   |   |   | 11,823.9 |   |   |   | 10,662.3 |
| Average      customers                                |   |   | 12,253.8 |   |   |   | 11,120.8 |   |   |   | 9,550.8 |
| Gross      customer additions (a)                     |   |   | 3,581.7 |   |   |   | 3,825.4 |   |   |   | 4,523.2 |
| Net      customer additions (a)                       |   |   | 961.3 |   |   |   | 1,161.6 |   |   |   | 2,035.8 |
| Market      penetration                               |   |   | 16.1% |   |   |   | 15.0% |   |   |   | 14.0% |
| Postpay      customer churn                           |   |   | 1.28% |   |   |   | 1.57% |   |   |   | 1.77% |
| Total      churn                                      |   |   | 1.79% |   |   |   | 2.00% |   |   |   | 2.17% |
| Retail      minutes of use per customer per month (b) |   |   | 730 |   |   |   | 634 |   |   |   | 597 |
| Retail      revenue per customer per month (c)        |   |   | $48.40 |   |   |   | $47.02 |   |   |   | $46.68 |
| Average      revenue per customer per month (d)       |   |   | $54.30 |   |   |   | $52.68 |   |   |   | $51.69 |

|   | (a) | Includes      the effects of acquisitions and dispositions.  Excludes reseller      customers for all periodspresented. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | Represents      the average monthly minutes that Alltel’s customers use on both the      Company’s network and while roaming on other carriers’      networks. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | Retail      revenue per customer is calculated by dividing wireless retail revenues by      average customers for the period.  A reconciliation of the      revenues used in computing retail revenue per customer per month was as      follows for the fiscal years ended December31: |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                                   |   |
|----------------------------------------|--------|
| (Millions)                             |   | 2007 | (1)  |   | 2006 |   |   | 2005 |   |
| Service      revenues                  |   | $ | 7,984.3 |   |   | $ | 7,029.8 |   |   | $ | 5,924.5 |   |
| Less      wholesale roaming revenues   |   |   | (705.6 | ) |   |   | (654.3 | ) |   |   | (545.1 | ) |
| Less      wholesale transport revenues |   |   | (161.9 | ) |   |   | (100.3 | ) |   |   | (29.4 | ) |
| Total      retail revenues             |   | $ | 7,116.8 |   |   | $ | 6,275.2 |   |   | $ | 5,350.0 |   |

|  | (1) | Represents      the combined amounts for the Predecessor and Successor      periods. |
|--|-----|--------------------------------------------------------------------------------------|

|   | (d) | Average      revenue per customer per month is calculated by dividing wireless service      revenues by average customers for theperiod. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------|

----

Index to Financial Supplement 

----

Index to Financial Supplement 

|                                                              |   | Combined          |        |   | Successor               |   |      | Predecessor       |   |
|-------------------------------------------------------------------|--------|-------------------|-------------|--------|-------------------------|--------|-----------|-------------------|--------|
|                                                              |   | Year      Ended   |        |   | November 16 - |   |      | January      1 -  |   |   | Year      Ended |   |
|                                                              |   | December 31, |        |   | December 31,       |   |      | November 15, |   |   | December 31, |   |
| (Millions)                                                        |   | 2007              |        |   | 2007                    |   |      | 2007              |   |   | 2006 |   |   | 2005 |   |
| Revenues      and sales:                                          |   |              |        |   |                    |   |      |              |   |   |   |   |   |   |   |
| Service      revenues                                             |   | $                 | 7,984.3     |   |                    | $      | 1,027.0   |              |   | $ | 6,957.3 |   |   | $ | 7,029.8 |   |   | $ | 5,924.5 |   |
| Product      sales                                                |   |              | 818.8       |   |                    |   | 105.9     |              |   |   | 712.9 |   |   |   | 854.2 |   |   |   | 648.0 |   |
| Total      revenues and sales                                     |   |              | 8,803.1     |   |                    |   | 1,132.9   |              |   |   | 7,670.2 |   |   |   | 7,884.0 |   |   |   | 6,572.5 |   |
| Costs      and expenses:                                          |   |              |        |   |                    |   |      |              |   |   |   |   |   |   |   |   |   |   |   |   |
| Cost      of services                                             |   |              | 2,625.8     |   |                    |   | 355.2     |              |   |   | 2,270.6 |   |   |   | 2,340.6 |   |   |   | 1,959.9 |   |
| Cost      of products sold                                        |   |              | 1,194.0     |   |                    |   | 172.6     |              |   |   | 1,021.4 |   |   |   | 1,176.9 |   |   |   | 941.8 |   |
| Selling,      general, administrative and other                   |   |              | 1,957.8     |   |                    |   | 249.0     |              |   |   | 1,708.8 |   |   |   | 1,755.3 |   |   |   | 1,518.8 |   |
| Depreciation      and amortization                                |   |              | 1,546.9     |   |                    |   | 260.2     |              |   |   | 1,286.7 |   |   |   | 1,239.9 |   |   |   | 994.8 |   |
| Integration      expenses, restructuring and other charges        |   |              |  672.2 |   |                    |   |  5.2 |              |   |   |  667.0 |   |   |   |  13.7 |   |   |   |  23.0 |   |
| Total      costs and expenses                                     |   |              | 7,996.7     |   |                    |   | 1,042.2   |              |   |   | 6,954.5 |   |   |   | 6,526.4 |   |   |   | 5,438.3 |   |
| Operating      income                                             |   |              | 806.4       |   |                    |   | 90.7      |              |   |   | 715.7 |   |   |   | 1,357.6 |   |   |   | 1,134.2 |   |
| Non-operating      income, net                                    |   |              | 71.9        |   |                    |   | 21.2      |              |   |   | 50.7 |   |   |   | 97.5 |   |   |   | 121.5 |   |
| Interest      expense                                             |   |              | (443.7      | )      |                    |   | (280.4    | )                 |   |   | (163.3 | ) |   |   | (282.5 | ) |   |   | (314.5 | ) |
| Gain      on exchange or disposal of assets and other             |   |              |  56.5  |   |                    |   |  -   |              |   |   |  56.5 |   |   |   |  126.1 |   |   |   |  218.8 |   |
| Income      (loss) from continuing operations before income taxes |   |              | 491.1       |   |                    |   | (168.5    | )                 |   |   | 659.6 |   |   |   | 1,298.7 |   |   |   | 1,160.0 |   |
| Income      tax expense (benefit)                                 |   |              | 307.0       |   |                    |   | (64.5     | )                 |   |   | 371.5 |   |   |   | 475.0 |   |   |   | 424.5 |   |
| Income      (loss) from continuing operations                     |   |              | 184.1       |   |                    |   | (104.0    | )                 |   |   | 288.1 |   |   |   | 823.7 |   |   |   | 735.5 |   |
| Income      (loss) from discontinued operations                   |   |              | (0.9        | )      |                    |   | 0.6       |              |   |   | (1.5 | ) |   |   | 305.7 |   |   |   | 603.3 |   |
| Cumulative      effect of accounting change                       |   |              | -           |   |                    |   | -         |              |   |   | - |   |   |   | - |   |   |   | (7.4 | ) |
| Net      income (loss)                                            |   | $                 | 183.2       |   |                    | $      | (103.4    | )                 |   | $ | 286.6 |   |   | $ | 1,129.4 |   |   | $ | 1,331.4 |   |

----

Index to Financial Supplement 

----

Index to Financial Supplement 

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Index to Financial Supplement 

|                                                             |   | Predecessor                            |   |   | Successor                                     |   |   |     |
|------------------------------------------------------------------|--------|----------------------------------------|--------|--------|-----------------------------------------------|--------|--------|----------|
| (Millions)                                                       |   | January 1      - November 15 |   |   | November 16 -      December 31 |   |   | Combined |
| Severance      and employee benefit costs                        |   | $                                      | 4.5    |   |                                          | $      | -      |     |   | $ | 4.5 |
| Rebranding      and signage costs                                |   |                                   | 5.4    |   |                                          |   | -      |     |   |   | 5.4 |
| Computer      system conversion and other integration expenses   |   |                                   | 6.6    |   |                                          |   | -      |     |   |   | 6.6 |
| Lease      termination costs                                     |   |                                   | 2.6    |   |                                          |   | -      |     |   |   | 2.6 |
| Merger-related      expenses                                     |   |                                   | 647.9  |   |                                          |   | 5.2    |     |   |   | 653.1 |
| Total      integration expenses, restructuring and other charges |   | $                                      | 667.0  |   |                                          | $      | 5.2    |     |   | $ | 672.2 |

|                                                             |   |   |
|------------------------------------------------------------------|--------|--------|
| (Millions)                                                       |   |   |
| Rebranding      and signage costs                                |   | $      | 9.3 |
| Computer      system conversion and other integration expenses   |   |   | 4.4 |
| Total      integration expenses, restructuring and other charges |   | $      | 13.7 |

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Index to Financial Supplement 

| (Millions)                                                       |   |   |
|------------------------------------------------------------------|--------|--------|
| Computer      system conversion and other integration expenses   |   | $      | 22.3 |
| Relocation      costs                                            |   |   | 0.7 |
| Total      integration expenses, restructuring and other charges |   | $      | 23.0 |

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Index to Financial Supplement 

|                                                |   | Combined          |   |   | Successor               |   |   | Predecessor       |   |
|-----------------------------------------------------|--------|-------------------|--------|--------|-------------------------|--------|--------|-------------------|--------|
|                                                |   | Year      Ended   |   |   | November 16 - |   |   | January      1 -  |   |   | Year      Ended |   |
|                                                |   | December 31, |   |   | December      31,       |   |   | November 15, |   |   | December      31, |   |
| (Millions)                                          |   | 2007              |   |   | 2007                    |   |   | 2007              |   |   | 2006 |   |   | 2005 |   |
| Equity      earnings in unconsolidated partnerships |   | $                 | 65.2   |   |                    | $      | 8.0    |              |   | $ | 57.2 |   |   | $ | 60.1 |   |   | $ | 43.4 |   |
| Minority      interest in consolidated partnerships |   |              | (32.6  | )      |                    |   | (2.2   | )                 |   |   | (30.4 | ) |   |   | (46.6 | ) |   |   | (69.1 | ) |
| Other      income, net                              |   |              | 39.3   |   |                    |   | 15.4   |              |   |   | 23.9 |   |   |   | 84.0 |   |   |   | 147.2 |   |
| Non-operating      income, net                      |   | $                 | 71.9   |   |                    | $      | 21.2   |              |   | $ | 50.7 |   |   | $ | 97.5 |   |   | $ | 121.5 |   |

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Index to Financial Supplement 

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Index to Financial Supplement 

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Index to Financial Supplement 

|                                            |   | Successor               |   |   | Predecessor       |   |
|-------------------------------------------------|--------|-------------------------|--------|--------|-------------------|--------|
|                                            |   | November 16 - |   |   | January      1 -  |   |   | Year      Ended |   |   | Year      Ended |   |
|                                            |   | December      31,       |   |   | November 15, |   |   | December      31, |   |   | December    31, |   |
| (Millions)                                      |   | 2007                    |   |   | 2007              |   |   | 2006 |   |   | 2005 |   |
| Revenues      and sales                         |   | $                       | 0.4    |   |              | $      | 7.8 |   |   | $ | 1,839.3 |   |   | $ | 3,369.8 |   |
| Operating      expenses                         |   |                    | 0.6    |   |              |   | 14.1 |   |   |   | 1,290.5 |   |   |   | 2,325.4 |   |
| Operating      income (loss)                    |   |                    | (0.2   | )      |              |   | (6.3 | ) |   |   | 548.8 |   |   |   | 1,044.4 |   |
| Minority      interest in consolidated entities |   |                    | -      |   |              |   | - |   |   |   | (6.0 | ) |   |   | (5.9 | ) |
| Other      income (expense), net                |   |                    | (0.1   | )      |              |   | 1.4 |   |   |   | 0.9 |   |   |   | 11.6 |   |
| Interest      expense                           |   |                    | -      |   |              |   | - |   |   |   | (9.1 | ) |   |   | (19.4 | ) |
| Loss      on sale of discontinued operations    |   |                    | -      |   |              |   | (0.2 | ) |   |   | (14.8 | ) |   |   | - |   |
| Income      (loss) before income taxes          |   |                    | (0.3   | )      |              |   | (5.1 | ) |   |   | 519.8 |   |   |   | 1,030.7 |   |
| Income      tax expense (benefit)               |   |                    | (0.9   | )      |              |   | (3.6 | ) |   |   | 214.1 |   |   |   | 427.4 |   |
| Income      (loss) from discontinued operations |   | $                       | 0.6    |   |              | $      | (1.5 | ) |   | $ | 305.7 |   |   | $ | 603.3 |   |

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Index to Financial Supplement 

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Index to Financial Supplement 

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Index to Financial Supplement 

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Index to Financial Supplement 

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Index to Financial Supplement 

|                                                 |   | Combined          |      |   | Successor               |   |      | Predecessor       |   |
|------------------------------------------------------|--------|-------------------|-----------|--------|-------------------------|--------|-----------|-------------------|--------|
|                                                 |   | Year      Ended   |      |   | November 16 - |   |      | January      1 -  |   |   | Year      Ended |   |
|                                                 |   | December 31, |      |   | December 31,       |   |      | November 15, |   |   | December 31, |   |
| (Millions)                                           |   | 2007              |      |   | 2007                    |   |      | 2007              |   |   | 2006 |   |   | 2005 |   |
| Cash      flows from (used in):                      |   |              |      |   |                    |   |      |              |   |   |   |   |   |   |   |
| Operating      activities from continuing operations |   | $                 | 1,968.7   |   |                    | $      | (178.0    | )                 |   | $ | 2,146.7 |   |   | $ | 1,490.2 |   |   | $ | 1,565.3 |   |
| Investing      activities from continuing operations |   |              | (25,906.9 | )      |                    |   | (25,241.9 | )                 |   |   | (665.0 | ) |   |   | (2,693.6 | ) |   |   | (1,636.9 | ) |
| Financing      activities from continuing operations |   |              | 23,785.7  |   |                    |   | 25,301.6  |              |   |   | (1,515.9 | ) |   |   | (3,184.8 | ) |   |   | (748.3 | ) |
| Discontinued      operations                         |   |              | 51.6      |   |                    |   | 0.7       |              |   |   | 50.9 |   |   |   | 4,345.9 |   |   |   | 1,326.9 |   |
| Effect      of exchange rate changes                 |   |              | -         |   |                    |   | -         |              |   |   | - |   |   |   | (5.9 | ) |   |   | (1.8 | ) |
| Change      in cash and short-term investments       |   | $                 | (100.9    | )      |                    | $      | (117.6    | )                 |   | $ |   16.7 |   |   | $ | (48.2 | ) |   | $ | 505.2 |   |

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Index to Financial Supplement 

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Index to Financial Supplement 

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Index to Financial Supplement 

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Index to Financial Supplement 

| Description                       |   | Moody’s |   |   | Standard&      Poor’s |
|-----------------------------------|--------|---------------|--------|--------|---------------------------------|
| Long-term      debt credit rating |   |          | B2     |   |                            |   | B+ |
| Outlook                           |   |          | Stable |   |                            |   | Negative |

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Index to Financial Supplement 

|                                                                                         |   |              |    |   |                    |   |       |                  |   |
|----------------------------------------------------------------------------------------------|--------|-------------------|---------|--------|-------------------------|--------|------------|-----------------------|--------|
|                                                                                         |   | Combined          |    |   | Successor               |   |       | Predecessor           |   |
|                                                                                         |   | Year      Ended   |    |   | November 16 - |   |       | January 1      - |   |   | Year      Ended |   |
|                                                                                         |   | December 31, |    |   | December 31,       |   |       | November 15,     |   |   | December 31, |   |
| (Millions)                                                                                   |   | 2007              |    |   | 2007                    |   |       | 2007                  |   |   | 2006 |   |   | 2005 |   |
| Net      income (loss)                                                                       |   | $                 | 183.2   |   |                    | $      | (103.4     | )                     |   | $ | 286.6 |   |   | $ | 1,129.4 |   |   | $ | 1,331.4 |   |
| Loss      (income) from discontinued operations                                              |   |              | 0.9     |   |                    |   | (0.6       | )                     |   |   | 1.5 |   |   |   | (305.7 | ) |   |   | (603.3 | )  |
| Cumulative      effect of accounting change                                                  |   |              | -       |   |                    |   | -          |                  |   |   | - |   |   |   | - |   |   |   | 7.4 |   |
| Income      tax expense (benefit)                                                            |   |              | 307.0   |   |                    |   | (64.5      | )                     |   |   | 371.5 |   |   |   | 475.0 |   |   |   | 424.5 |   |
| Interest      expense, net of interest income                                                |   |              | 405.8   |   |                    |   | 265.0      |                  |   |   | 140.8 |   |   |   | 202.2 |   |   |   | 294.4 |   |
| Depreciation      and amortization expense                                                   |   |              | 1,546.9 |   |                    |   | 260.2      |                  |   |   | 1,286.7 |   |   |   | 1,239.9 |   |   |   | 994.8 |   |
| EBITDA                                                                                       |   | $                 | 2,443.8 |   |                    | $      | 356.7      |                  |   | $ | 2,087.1 |   |   | $ | 2,740.8 |   |   | $ | 2,449.2 |   |
| Minority      interest in consolidated partnerships                                          |   |              | 32.6    |   |                    |   | 2.2        |                  |   |   | 30.4 |   |   |   | 46.6 |   |   |   | 69.1 |   |
| Equity      earnings in unconsolidated partnerships, net of cash distributions      received |   |              | (8.4    | )      |                    |   |   5.7 |                  |   |   | (14.1 | ) |   |   | (9.4 | ) |   |   |   (8.3 | )  |
| Stock-based      compensation expense, net of restricted shares surrendered for tax      (a) |   |              | 27.3    |   |                    |   | 1.2        |                  |   |   | 26.1 |   |   |   | 33.0 |   |   |   | 4.0 |   |
| Integration      expenses, restructuring and other charges (See Note 11)                     |   |              | 672.2   |   |                    |   | 5.2        |                  |   |   | 667.0 |   |   |   | 13.7 |   |   |   | 23.0 |   |
| Fidelity      National special cash dividend (See Note 12)                                   |   |              | -       |   |                    |   | -          |                  |   |   | - |   |   |   | - |   |   |   | (111.0 | )  |
| Gain      on exchange or disposal of assets and other (See Note 13)                          |   |              | (56.5   | )      |                    |   | -          |                  |   |   | (56.5 | ) |   |   | (126.1 | ) |   |   | (218.8 | )  |
| Non-cash      rental income, net of amortization of deferred leasing costs      (b)          |   |              | (29.7   | )      |                    |   | -          |                  |   |   | (29.7 | ) |   |   | (33.9 | ) |   |   | (33.9 | )  |
| Other      non-cash changes in expenses (c)                                                  |   |              | 5.0     |   |                    |   | 0.3        |                  |   |   | 4.7 |   |   |   | (3.5 | ) |   |   | 50.5 |   |
| Management      fee paid to Sponsors (d)                                                     |   |              | 3.9     |   |                    |   | 3.9        |                  |   |   | - |   |   |   | - |   |   |   | - |   |
| Pre-acquisition      EBITDA for Western Wireless and Midwest Wireless (e)                    |   |              |  - |   |                    |   |  -    |                  |   |   |  - |   |   |   |  91.5 |   |   |   |  243.2 |   |
| Adjusted      EBITDA                                                                         |   | $                 | 3,090.2 |   |                    | $      | 375.2      |                  |   | $ | 2,715.0 |   |   | $ | 2,752.7 |   |   | $ | 2,467.0 |   |

|   | (a) | Excludes      $63.8 million of expense resulting from the accelerated vesting of      employee stock option and restricted stock awards in connection with the      Merger.  This amount has been included in integration expenses,      restructuring and other charges in the table  above. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | Represents      non-cash rental income and amortization of deferred leasing costs related      to Alltel’s agreement to lease cell site towers to American Tower      Corporation (“ATC”).  As further discussed in Note 18 to the      consolidated financial statements, the remaining deferred rental income      and deferred leasing costs were written-off in connection with the      Merger. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | For      2005, this amount includes the effect of a change in accounting for      operating leases with scheduled rent increases to recognize the scheduled      increases in rent expense on a straight-line basis.  The effect      of this change resulted in incremental rent expense of $19.7 million in      2005.  During 2005, Alltel also incurred $19.4 million of      incremental costs related to hurricane Katrina and three other storms,      consisting of increased long-distance and roaming expenses due to      providing these services to affected customers at no charge, system      maintenance costs to restore network facilities, additional losses from      bad debts, and company donations to support the hurricane relief      efforts. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | Represents      the annual management fee and out-of-pocket expenses payable to affiliates      of the Sponsors in exchange for consulting and management advisory      services.  The annual management fee is equal to one percent of      Alltel’s consolidated Adjusted EBITDA, of which 0.1 percent is contributed      to the Alltel Special Annual Bonus Plan and made available for payout as      incentive compensation to certain management  employees. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (e) | For      2005, represents the historical EBITDA of Western Wireless for the seven      months ended July 31, 2005 assuming the acquisition of Western Wireless      had occurred on January 1, 2005.  For 2006, represents the      historical EBITDA of Midwest Wireless for the nine months ended September      30, 2006 assuming the acquisition of Midwest Wireless had occurred on      January 1, 2006. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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Index to Financial Supplement 

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Index to Financial Supplement 

|                                                     |   | Payments      Due by Period |
|----------------------------------------------------------|--------|-----------------------------|
|                                                     |   | Less      than              |   |   | 1-3 |   |   | 3-5 |   |   | More      than |   |   |   |
| (Millions)                                               |   | 1      Year                 |   |   | Years |   |   | Years |   |   | 5      Years |   |   | Total |
| Long-term      debt, including current maturities (a)    |   | $                           | 140.1 |   |   | $ | 280.1 |   |   | $ | 1,080.0 |   |   | $ | 22,465.0 |   |   | $ | 23,965.2 |
| Interest      payments on long-term debt obligations (b) |   |                        | 1,949.1 |   |   |   | 3,857.9 |   |   |   | 3,817.6 |   |   |   | 6,933.4 |   |   |   | 16,558.0 |
| Operating      leases                                    |   |                        | 190.1 |   |   |   | 261.6 |   |   |   | 121.3 |   |   |   | 159.7 |   |   |   | 732.7 |
| Purchase      obligations (c)                            |   |                        | 85.1 |   |   |   | 61.7 |   |   |   | 21.3 |   |   |   | - |   |   |   | 168.1 |
| Site      maintenance fees – cell sites (d)        |   |                        | 34.9 |   |   |   | 75.2 |   |   |   | 82.9 |   |   |   | 170.3 |   |   |   | 363.3 |
| Other      long-term liabilities (e)                     |   |                        | 329.9 |   |   |   | 533.5 |   |   |   | 298.3 |   |   |   | 1,635.1 |   |   |   | 2,796.8 |
| Total      contractual obligations and commitments       |   | $                           | 2,729.2 |   |   | $ | 5,070.0 |   |   | $ | 5,421.4 |   |   | $ | 31,363.5 |   |   | $ | 44,584.1 |

|   | (a) | Excludes      $(450.4) million of unamortized discounts included in long-term debt at      December 31, 2007. |
|--------|-----|---------------------------------------------------------------------------------------------------------------|

|   | (b) | For      purposes of projecting future interest payments related to Alltel’s      variable rate long-term debt, the weighted average interest rate was      assumed to be 8.13 percent.  The weighted average interest rate      was calculated assuming the interest rates for the senior secured term      loan, the senior unsecured cash-pay debt, and the senior unsecured PIK      debt were 7.19%, 10.0% and 10.375%,  respectively. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | Purchase      obligations represent amounts payable under non-cancelable contracts and      include commitments for wireless handset purchases, network facilities and      transport services, agreements for software licensing and long-term      marketing programs. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | In      connection with the leasing of 1,773 of the Company’s cell site towers to      ATC, Alltel is obligated to pay ATC a monthly fee per tower for management      and maintenance services for the duration of the fifteen-year lease      agreement, which expires in phases during 2016 and  2017. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (e) | Other      long-term liabilities primarily consist of deferred tax liabilities,      income tax contingency reserves, minority interests and employee benefit      obligations. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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Index to Financial Supplement 

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Index to Financial Supplement 

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Index to Financial Supplement 

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Index to Financial Supplement 

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Index to Financial Supplement 

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Index to Financial Supplement 

SELECTED FINANCIAL DATA

|                                                                                          |   | Successor                     |      |   | Predecessor            |   |
|-----------------------------------------------------------------------------------------------|--------|-------------------------------|-----------|--------|------------------------|--------|
|                                                                                          |   | November 16 – |      |   | January      1 – |   |   |   |   |
|                                                                                          |   | December      31,             |      |   | November 15,      |   |   | For      the Year Ended December 31, |   |
| (Millions)                                                                                    |   | 2007                          |      |   | 2007                   |   |   | 2006 |   |   | 2005 |   |   | 2004 |   |   | 2003 |   |
| Revenues      and sales                                                                       |   | $                             | 1,132.9   |   |                   | $      | 7,670.2 |   |   | $ | 7,884.0 |   |   | $ | 6,572.5 |   |   | $ | 5,298.9 |   |   | $ | 4,917.5 |   |
| Operating      expenses                                                                       |   |                          | 1,037.0   |   |                   |   | 6,287.5 |   |   |   | 6,512.7 |   |   |   | 5,415.3 |   |   |   | 4,340.7 |   |   |   | 3,999.4 |   |
| Integration      expenses, restructuring and other charges                                    |   |                          |  5.2 |   |                   |   |  667.0 |   |   |   |  13.7 |   |   |   |  23.0 |   |   |   |  39.3 |   |   |   |  6.8 |   |
| Total      costs and expenses                                                                 |   |                          | 1,042.2   |   |                   |   | 6,954.5 |   |   |   | 6,526.4 |   |   |   | 5,438.3 |   |   |   | 4,380.0 |   |   |   | 4,006.2 |   |
| Operating      income                                                                         |   |                          | 90.7      |   |                   |   | 715.7 |   |   |   | 1,357.6 |   |   |   | 1,134.2 |   |   |   | 918.9 |   |   |   | 911.3 |   |
| Non-operating      income (expense), net                                                      |   |                          | 21.2      |   |                   |   | 50.7 |   |   |   | 97.5 |   |   |   | 121.5 |   |   |   | 9.7 |   |   |   | (8.6 | ) |
| Interest      expense                                                                         |   |                          | (280.4    | )      |                   |   | (163.3 | ) |   |   | (282.5 | ) |   |   | (314.5 | ) |   |   | (333.1 | ) |   |   | (352.1 | ) |
| Gain      (loss) on exchange or disposal of assets and other                                  |   |                          |  -   |   |                   |   |  56.5 |   |   |   |  126.1 |   |   |   |  218.8 |   |   |   |  - |   |   |   | (6.0 | ) |
| Income      (loss) from continuing operations before income taxes                             |   |                          | (168.5    | )      |                   |   | 659.6 |   |   |   | 1,298.7 |   |   |   | 1,160.0 |   |   |   | 595.5 |   |   |   | 544.6 |   |
| Income      tax expense (benefit)                                                             |   |                          | (64.5     | )      |                   |   | 371.5 |   |   |   | 475.0 |   |   |   | 424.5 |   |   |   | 183.4 |   |   |   | 200.7 |   |
| Income      (loss) from continuing operations                                                 |   |                          | (104.0    | )      |                   |   | 288.1 |   |   |   | 823.7 |   |   |   | 735.5 |   |   |   | 412.1 |   |   |   | 343.9 |   |
| Income      (loss) from discontinued operations, net of tax                                   |   |                          |  0.6 |   |                   |   | (1.5 | ) |   |   |  305.7 |   |   |   |  603.3 |   |   |   |   634.1 |   |   |   |  970.6 |   |
| Income      (loss) before cumulative effect of accounting change                              |   |                          | (103.4    | )      |                   |   | 286.6 |   |   |   | 1,129.4 |   |   |   | 1,338.8 |   |   |   | 1,046.2 |   |   |   | 1,314.5 |   |
| Cumulative      effect of accounting change, net of tax                                       |   |                          |  -   |   |                   |   |  - |   |   |   |  - |   |   |   | (7.4 | ) |   |   |  - |   |   |   |  15.6 |   |
| Net      income (loss)                                                                        |   | $                             | (103.4    | )      |                   | $      | 286.6 |   |   | $ | 1,129.4 |   |   | $ | 1,331.4 |   |   | $ | 1,046.2 |   |   | $ | 1,330.1 |   |
|                                                                                          |   |                          |      |   |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance      Sheet Data (at period end):                                                      |   |                          |      |   |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total      assets                                                                             |   | $                             | 32,135.5  |   |                   | $      | 17,838.9 |   |   | $ | 18,343.7 |   |   | $ | 24,013.1 |   |   | $ | 16,603.7 |   |   | $ | 16,661.1 |   |
| Total      shareholders’ equity                                                         |   | $                             | 4,432.5   |   |                   | $      | 11,606.2 |   |   | $ | 12,661.9 |   |   | $ | 13,015.5 |   |   | $ | 7,128.7 |   |   | $ | 7,022.2 |   |
| Total      redeemable preferred stock and long- term debt (including current      maturities) |   | $                             | 23,514.8  |   |                   | $      |  2,718.4 |   |   | $ |  2,734.4 |   |   | $ |  5,727.9 |   |   | $ |  5,295.4 |   |   | $ |  5,554.6 |   |

|        (1) | As      more fully discussed in Note 2 to the consolidated financial statements,      on November 16, 2007, Alltel was acquired by Atlantis Holdings LLC      (“Atlantis Holdings”).  Although Alltel continues as the same      legal entity after the acquisition, Atlantis Holdings’ cost of acquiring      Alltel has been pushed-down to establish a new accounting basis for      Alltel.  Accordingly, the financial data for fiscal year 2007 is      being presented for two periods: “Predecessor” and “Successor”, which      relate to the accounting periods preceding and succeeding the      acquisition. |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|        A. | Net      income for the period January 1, 2007 to November 15, 2007 included      integration expenses of $12.0 million related to Alltel’s 2006      acquisitions of Midwest Wireless and properties in Illinois, Texas and      Virginia, consisting of branding, signage and system conversion      costs.  In connection with the closing of two call centers,      Alltel also recorded severance and employee benefit costs of $4.5 million      and lease termination fees of $2.6 million. In connection with its      acquisition by Atlantis Holdings, Alltel incurred $647.9 million of      incremental costs, which included financial advisory, legal, accounting,      regulatory filing, and other fees of $177.6 million, stock-based |
|----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

Index to Financial Supplement 

|        B. | Net income for 2006 included      $13.7 million of integration expenses incurred in connection with Alltel’s      acquisitions of Western Wireless, Midwest Wireless Holdings and wireless      properties in Illinois, Texas and Virginia.  The integration      expenses, which consisted primarily of rebranding, signage and system      conversion costs, decreased net income $8.4 million. (See Note 11 to the      consolidated financial statements.)  Net income for 2006      included a pretax gain of $176.6 million related to the liquidation of      Alltel’s investment in Rural Telephone Bank Class C      stock.  During 2006, Alltel also repurchased prior to maturity      $1.0 billion of long-term debt and terminated a related interest rate swap      agreement.  In connection with the early termination of the debt      and interest rate swap agreement, Alltel incurred net pretax termination      fees of $23.0 million.  Following the spin-off of the wireline      business, Alltel completed a debt exchange in which the Company      transferred to two investment banks certain debt securities received in      the spin-off transaction in exchange for certain Alltel debt      securities.  In completing the tax-free debt exchange, Alltel      incurred a loss of $27.5 million.  These transactions increased      net income $68.8 million in 2006 (See Note 13 to the consolidated      financial statements.)  Net income for 2006 also reflected a      reduction in income tax expense associated with continuing operations of      $29.9 million, resulting from Alltel’s adjustment of its income tax      liabilities including contingency reserves to reflect the results of      audits of the Company’s consolidated federal income tax returns for the      fiscal years 1997 through 2003. (See Note 14 to the consolidated financial      statements.) |
|----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|        C. | Net      income for 2005 included $18.5 million of integration expenses incurred in      connection with Alltel’s exchange of wireless assets with AT&T and      purchase of properties in Alabama and Georgia, consisting of handset      subsidies incurred to migrate the acquired customer base to CDMA      handsets.  Alltel also incurred $4.5 million of integration      expenses related to its acquisition of Western Wireless, primarily      consisting of system conversion and relocation costs.  These      transactions decreased net income $14.0 million. (See Note 11 to the      consolidated financial statements.)  Net income for 2005      included the effect of a special cash dividend of $111.0 million related      to Alltel’s investment in Fidelity National common stock, which increased      net income $69.8 million. (See Note 12 to the consolidated financial      statements.)  Net income for 2005 included pretax gains of      $158.0 million related to Alltel’s exchange of certain wireless assets      with AT&T.  During 2005, Alltel also completed the sale of      all of its shares of Fidelity National common stock and recognized a      pretax gain of $75.8 million.  In addition, Alltel incurred      pretax termination fees of $15.0 million related to the early retirement      of long-term debt and a related interest rate swap      agreement.  These transactions increased net income $136.7      million. (See Note 13 to the consolidated financial      statements.)  Effective December 31, 2005, Alltel adopted FASB      Interpretation No. 47, “Accounting for Conditional Asset Retirement      Obligations”.  The cumulative effect of this accounting change      resulted in a one-time non-cash charge of $7.4 million, net of income tax      benefit of $4.6 million. (See Note 3 to the consolidated financial      statements.) |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|        D. | Net      income for 2004 included pretax charges of $14.5 million related to a      planned workforce reduction and reorganization of Alltel’s operations and      support teams.  Alltel also recorded a write-down in the      carrying value of certain corporate and regional facilities to fair value      in conjunction with the proposed leasing or sale of those facilities of      $24.8 million.  These transactions decreased net income $24.0      million.  Net income for 2004 also reflected a reduction in      income tax expense associated with continuing operations of $17.9 million,      resulting from Alltel’s adjustment of its income tax contingency reserves      to reflect the results of audits of Alltel’s consolidated federal income      tax returns for the fiscal years 1997 through  2001. |
|----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|        E. | Net      income for 2003 included pretax charges of $1.4 million primarily related      to the closing of certain call center locations and the write-off of $7.7      million of certain capitalized software development costs with no      alternative future use or functionality.  Alltel also recorded a      $2.3 million reduction in the liabilities associated with various      restructuring activities initiated prior to 2003 to reflect differences      between estimated and actual costs paid in completing the previous planned      restructuring activities.  These transactions decreased net      income $4.1 million.  Net income for 2003 also included pretax      write-downs totaling $6.0 million to reflect other-than-temporary declines      in the fair value of certain investments in unconsolidated limited      partnerships.  These write-downs decreased net income $3.9      million.  Effective      January 1, 2003, Alltel adopted SFAS No. 143 “Accounting for Asset      Retirement Obligations”.  The cumulative effect of this      accounting change resulted in a one-time non-cash credit of $15.6 million,      net of income tax expense of $10.3million. |
|----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

Index to Financial Supplement 

MANAGEMENT’S REPORT ON INTERNAL CONTROL OVER FINANCIALREPORTING

| Scott      T. Ford           | Sharilyn      S. Gasaway       |
|------------------------------|--------------------------------|
| President      and           | Executive      Vice President- |
| Chief      Executive Officer | Chief      Financial Officer   |

----

Index to Financial Supplement 

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTINGFIRM

----

Index to Financial Supplement 

----

Index to Financial Supplement 

| Alltel      Corporation                                                                                                      |   |              |         |   |              |
|------------------------------------------------------------------------------------------------------------------------------|--------|-------------------|--------------|--------|-------------------|
| Consolidated Balance Sheets                                                                                                  |   |              |         |   |              |
| (Dollars      in millions, except per share amounts)                                                                         |   |              |         |   |              |
|                                                                                                                         |   | Successor         |         |   | Predecessor       |
|                                                                                                                         |   | December      31, |         |   | December      31, |
| Assets                                                                                                                       |   | 2007              |         |   | 2006              |
| Current      Assets:                                                                                                         |   |              |         |   |              |
| Cash      and short-term investments                                                                                         |   | $                 | 833.3        |   |              | $ | 934.2 |
| Accounts      receivable (less allowance for doubtful accounts of $32.6 and $54.9,      respectively)                        |   |              | 831.1        |   |              |   | 807.3 |
| Inventories                                                                                                                  |   |              | 196.0        |   |              |   | 218.6 |
| Prepaid      expenses and other                                                                                              |   |              | 142.8        |   |              |   | 67.7 |
| Assets      related to discontinued operations                                                                               |   |              | 0.3          |   |              |   | 4.3 |
| Total      current assets                                                                                                    |   |              | 2,003.5      |   |              |   | 2,032.1 |
| Investments                                                                                                                  |   |              | 536.1        |   |              |   | 368.9 |
| Goodwill                                                                                                                     |   |              | 16,917.4     |   |              |   | 8,447.0 |
| Other      intangibles                                                                                                       |   |              | 6,784.6      |   |              |   | 2,129.4 |
| Property,      Plant and Equipment:                                                                                          |   |              |         |   |              |   |   |
| Land      and improvements                                                                                                   |   |              | 251.1        |   |              |   | 314.9 |
| Buildings      and improvements                                                                                              |   |              | 836.4        |   |              |   | 955.1 |
| Operating      plant and equipment                                                                                           |   |              | 3,650.3      |   |              |   | 7,933.8 |
| Information      processing                                                                                                  |   |              | 368.8        |   |              |   | 1,048.1 |
| Furniture      and fixtures                                                                                                  |   |              | 99.8         |   |              |   | 173.8 |
| Under      construction                                                                                                      |   |              | 360.1        |   |              |   | 496.0 |
| Total      property, plant and equipment                                                                                     |   |              | 5,566.5      |   |              |   | 10,921.7 |
| Less      accumulated depreciation                                                                                           |   |              | 164.9        |   |              |   | 5,690.3 |
| Net      property, plant and equipment                                                                                       |   |              | 5,401.6      |   |              |   | 5,231.4 |
| Other      assets                                                                                                            |   |              | 485.3        |   |              |   | 89.4 |
| Assets      related to discontinued operations                                                                               |   |              | 7.0          |   |              |   | 45.5 |
| Total      Assets                                                                                                            |   | $                 | 32,135.5     |   |              | $ | 18,343.7 |
|                                                                                                                         |   |              |         |   |              |   |   |
| Liabilities      and Shareholders’ Equity                                                                              |   |              |         |   |              |   |   |
| Current      Liabilities:                                                                                                    |   |              |         |   |              |   |   |
| Current      maturities of long-term debt                                                                                    |   | $                 | 140.1        |   |              | $ | 36.3 |
| Accounts      payable                                                                                                        |   |              | 603.6        |   |              |   | 576.1 |
| Advance      payments and customer deposits                                                                                  |   |              | 195.9        |   |              |   | 186.2 |
| Accrued      taxes                                                                                                           |   |              | 120.4        |   |              |   | 114.1 |
| Accrued      dividends                                                                                                       |   |              | -            |   |              |   | 46.0 |
| Accrued      interest                                                                                                        |   |              | 187.1        |   |              |   | 79.3 |
| Other      current liabilities                                                                                               |   |              | 271.9        |   |              |   | 156.5 |
| Liabilities      related to discontinued operations                                                                          |   |              | 0.2          |   |              |   | 2.8 |
| Total      current liabilities                                                                                               |   |              | 1,519.2      |   |              |   | 1,197.3 |
| Long-term      debt                                                                                                          |   |              | 23,374.7     |   |              |   | 2,697.4 |
| Deferred      income taxes                                                                                                   |   |              | 2,542.7      |   |              |   | 1,109.5 |
| Other      liabilities                                                                                                       |   |              | 266.4        |   |              |   | 677.6 |
| Total      liabilities                                                                                                       |   |              | 27,703.0     |   |              |   | 5,681.8 |
| Shareholders’      Equity:                                                                                             |   |              |         |   |              |   |   |
| Successor:                                                                                                                   |   |              |         |   |              |   |   |
| Common      stock, par value $.01 per share, 550.0 million shares authorized,      454,000,122 shares issued and outstanding |   |              | 4.5          |   |              |   | - |
| Predecessor:                                                                                                                 |   |              |         |   |              |   |   |
| Preferred      stock, Series C, $2.06, no par value, 10,307 shares      outstanding                                          |   |              | -            |   |              |   | 0.3 |
| Common      stock, par value $1 per share, 1.0 billion shares authorized,      364,505,820 issued and outstanding            |   |              | -            |   |              |   | 364.5 |
| Additional      paid-in capital                                                                                              |   |              | 4,536.7      |   |              |   | 4,296.8 |
| Accumulated      other comprehensive income (loss)                                                                           |   |              | (5.3         | )      |              |   | 9.5 |
| Retained      earnings (deficit)                                                                                             |   |              |  (103.4 | )      |              |   | 7,990.8 |
| Total      shareholders’ equity                                                                                        |   |              | 4,432.5      |   |              |   | 12,661.9 |
| Total      Liabilities and Shareholders’ Equity                                                                        |   | $                 | 32,135.5     |   |              | $ | 18,343.7 |

----

Index to Financial Supplement 

| Alltel      Corporation                                                                                                                            |   |                    |      |   |                  |   |    |              |   |   |              |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------|-----------|--------|-----------------------|--------|---------|-------------------|--------|--------|-------------------|--------|
| Consolidated Statements of Operations                                                                                                              |   |                    |      |   |                  |   |    |              |   |   |              |   |
| (Millions)                                                                                                                                         |   |                    |      |   |                  |   |    |              |   |   |              |   |
|                                                                                                                                               |   | Successor               |      |   | Predecessor           |   |
|                                                                                                                                               |   | November 16      - |      |   | January 1      - |   |    | Year      Ended   |   |   | Year      Ended   |   |
|                                                                                                                                               |   | December 31,       |      |   | November 15,     |   |    | December 31, |   |   | December 31, |   |
|                                                                                                                                               |   | 2007                    |      |   | 2007                  |   |    | 2006              |   |   | 2005              |   |
| Revenues      and sales:                                                                                                                           |   |                    |      |   |                  |   |    |              |   |   |              |   |
| Service      revenues                                                                                                                              |   | $                       | 1,027.0   |   |                  | $      | 6,957.3 |              |   | $      | 7,029.8           |   |   | $ | 5,924.5 |   |
| Product      sales                                                                                                                                 |   |                    | 105.9     |   |                  |   | 712.9   |              |   |   | 854.2             |   |   |   | 648.0 |   |
| Total      revenues and sales                                                                                                                      |   |                    | 1,132.9   |   |                  |   | 7,670.2 |              |   |   | 7,884.0           |   |   |   | 6,572.5 |   |
| Costs      and expenses:                                                                                                                           |   |                    |      |   |                  |   |    |              |   |   |              |   |   |   |   |   |
| Cost      of services (excluding depreciation of $87.6, $792.2, $674.0 and      $577.7, respectively, included below)                              |   |                    | 355.2     |   |                  |   | 2,270.6 |              |   |   | 2,340.6           |   |   |   | 1,959.9 |   |
| Cost      of products sold                                                                                                                         |   |                    | 172.6     |   |                  |   | 1,021.4 |              |   |   | 1,176.9           |   |   |   | 941.8 |   |
| Selling,      general, administrative and other                                                                                                    |   |                    | 249.0     |   |                  |   | 1,708.8 |              |   |   | 1,755.3           |   |   |   | 1,518.8 |   |
| Depreciation      and amortization                                                                                                                 |   |                    | 260.2     |   |                  |   | 1,286.7 |              |   |   | 1,239.9           |   |   |   | 994.8 |   |
| Integration      expenses, restructuring and other charges                                                                                         |   |                    | 5.2       |   |                  |   | 667.0   |              |   |   | 13.7              |   |   |   | 23.0 |   |
| Total      costs and expenses                                                                                                                      |   |                    | 1,042.2   |   |                  |   | 6,954.5 |              |   |   | 6,526.4           |   |   |   | 5,438.3 |   |
| Operating      income                                                                                                                              |   |                    | 90.7      |   |                  |   | 715.7   |              |   |   | 1,357.6           |   |   |   | 1,134.2 |   |
|                                                                                                                                               |   |                    |      |   |                  |   |    |              |   |   |              |   |   |   |   |   |
| Equity      earnings in unconsolidated partnerships                                                                                                |   |                    | 8.0       |   |                  |   | 57.2    |              |   |   | 60.1              |   |   |   | 43.4 |   |
| Minority      interest in consolidated partnerships                                                                                                |   |                    | (2.2      | )      |                  |   | (30.4   | )                 |   |   | (46.6             | )      |   |   | (69.1 | ) |
| Other      income, net                                                                                                                             |   |                    | 15.4      |   |                  |   | 23.9    |              |   |   | 84.0              |   |   |   | 147.2 |   |
| Interest      expense                                                                                                                              |   |                    | (280.4    | )      |                  |   | (163.3  | )                 |   |   | (282.5            | )      |   |   | (314.5 | ) |
| Gain      on exchange or disposal of assets and other                                                                                              |   |                    | -         |   |                  |   | 56.5    |              |   |   | 126.1             |   |   |   | 218.8 |   |
|                                                                                                                                               |   |                    |      |   |                  |   |    |              |   |   |              |   |   |   |   |   |
| Income      (loss) from continuing operations before income taxes                                                                                  |   |                    | (168.5    | )      |                  |   | 659.6   |              |   |   | 1,298.7           |   |   |   | 1,160.0 |   |
| Income      tax expense (benefit)                                                                                                                  |   |                    | (64.5     | )      |                  |   | 371.5   |              |   |   | 475.0             |   |   |   | 424.5 |   |
|                                                                                                                                               |   |                    |      |   |                  |   |    |              |   |   |              |   |   |   |   |   |
| Income      (loss) from continuing operations                                                                                                      |   |                    | (104.0    | )      |                  |   | 288.1   |              |   |   | 823.7             |   |   |   | 735.5 |   |
| Income      (loss) from discontinued operations (net of income tax expense      (benefit) of $(0.9), $(3.6), $214.1 and $427.4,      respectively) |   |                    |  0.6 |   |                  |   | (1.5    | )                 |   |   |  305.7       |   |   |   |  603.3 |   |
|                                                                                                                                               |   |                    |      |   |                  |   |    |              |   |   |              |   |   |   |   |   |
| Income      (loss) before cumulative effect of accounting change                                                                                   |   |                    | (103.4    | )      |                  |   | 286.6   |              |   |   | 1,129.4           |   |   |   | 1,338.8 |   |
| Cumulative      effect of accounting change (net of income tax      benefit of $4.6)                                                               |   |                    | -         |   |                  |   | -       |              |   |   | -                 |   |   |   | (7.4 | ) |
|                                                                                                                                               |   |                    |      |   |                  |   |    |              |   |   |              |   |   |   |   |   |
| Net      income (loss)                                                                                                                             |   | $                       | (103.4    | )      |                  | $      | 286.6   |              |   | $      | 1,129.4           |   |   | $ | 1,331.4 |   |

----

Index to Financial Supplement 

Consolidated Statements of Cash Flows

|                                                                                                    |   | Successor               |      |   | Predecessor       |   |
|---------------------------------------------------------------------------------------------------------|--------|-------------------------|-----------|--------|-------------------|--------|
|                                                                                                    |   | November      16 - |      |   | January      1 -  |   |   | Year      Ended |   |   | Year      Ended |   |
|                                                                                                    |   | December      31,       |      |   | November      15, |   |   | December      31, |   |   | December      31, |   |
|                                                                                                    |   | 2007                    |      |   | 2007              |   |   | 2006 |   |   | 2005 |   |
|                                                                                                    |   |                    |      |   |              |   |   |   |   |   |   |   |
| Cash      Flows from Operating Activities:                                                              |   |                    |      |   |              |   |   |   |   |   |   |   |
| Net      income (loss)                                                                                  |   | $                       | (103.4    | )      |              | $      | 286.6 |   |   | $ | 1,129.4 |   |   | $ | 1,331.4 |   |
| Adjustments      to reconcile net income (loss) to net cash provided from (used in)      operations:    |   |                    |      |   |              |   |   |   |   |   |   |   |   |   |   |   |
| Loss      (income) from discontinued operations                                                         |   |                    | (0.6      | )      |              |   | 1.5 |   |   |   | (305.7 | ) |   |   | (603.3 | ) |
| Cumulative      effect of accounting change                                                             |   |                    | -         |   |              |   | - |   |   |   | - |   |   |   | 7.4 |   |
| Depreciation      and amortization                                                                      |   |                    | 260.2     |   |              |   | 1,286.7 |   |   |   | 1,239.9 |   |   |   | 994.8 |   |
| Provision      for doubtful accounts                                                                    |   |                    | 32.6      |   |              |   | 171.6 |   |   |   | 227.3 |   |   |   | 192.5 |   |
| Amortization      of deferred financing costs                                                           |   |                    | 33.9      |   |              |   | 2.4 |   |   |   | 3.9 |   |   |   | 4.3 |   |
| Non-cash      portion of integration expenses, restructuring and other      charges                     |   |                    | -         |   |              |   | - |   |   |   | - |   |   |   | 15.0 |   |
| Non-cash      portion of gain on exchange or disposal of assets andother                                |   |                    | -         |   |              |   | (56.5 | ) |   |   | (80.0 | ) |   |   | (232.7 | ) |
| Change      in deferred income taxes                                                                    |   |                    | (46.7     | )      |              |   | 42.9 |   |   |   | 38.7 |   |   |   | 71.8 |   |
| Adjustments      to income tax liabilities including contingency reserves                               |   |                    | -         |   |              |   | (33.8 | ) |   |   | (29.9 | ) |   |   | - |   |
| Other,      net                                                                                         |   |                    | (1.0      | )      |              |   | 30.2 |   |   |   | (17.8 | ) |   |   | 0.8 |   |
| Changes      in operating assets and liabilities, net of effects of acquisitions      and dispositions: |   |                    |      |   |              |   |   |   |   |   |   |   |   |   |   |   |
| Accounts      receivable                                                                                |   |                    | (7.7      | )      |              |   | (242.2 | ) |   |   | (237.0 | ) |   |   | (228.7 | ) |
| Inventories                                                                                             |   |                    | 11.0      |   |              |   | 11.6 |   |   |   | (20.0 | ) |   |   | (46.6 | ) |
| Accounts      payable                                                                                   |   |                    | (301.6    | )      |              |   | 327.7 |   |   |   | 67.2 |   |   |   | 111.1 |   |
| Other      current liabilities                                                                          |   |                    | 23.5      |   |              |   | 309.9 |   |   |   | (516.4 | ) |   |   | (94.6 | ) |
| Other,      net                                                                                         |   |                    | (78.2     | )      |              |   | 8.1 |   |   |   | (9.4 | ) |   |   | 42.1 |   |
| Net      cash provided from (used in) operating activities                                              |   |                    | (178.0    | )      |              |   | 2,146.7 |   |   |   | 1,490.2 |   |   |   | 1,565.3 |   |
|                                                                                                    |   |                    |      |   |              |   |   |   |   |   |   |   |   |   |   |   |
| Cash      Flows from Investing Activities:                                                              |   |                    |      |   |              |   |   |   |   |   |   |   |   |   |   |   |
| Additions      to property, plant and equipment                                                         |   |                    | (192.3    | )      |              |   | (860.6 | ) |   |   | (1,164.5 | ) |   |   | (949.0 | ) |
| Additions      to capitalized software development costs                                                |   |                    | (4.2      | )      |              |   | (29.1 | ) |   |   | (32.6 | ) |   |   | (43.1 | ) |
| Acquisition      of Alltel                                                                              |   |                    | (25,065.2 | )      |              |   | - |   |   |   | - |   |   |   | - |   |
| Purchases      of property, net of cash acquired                                                        |   |                    | -         |   |              |   | (6.5 | ) |   |   | (1,760.6 | ) |   |   | (1,137.6 | ) |
| Proceeds      from the sale of assets                                                                   |   |                    | -         |   |              |   | - |   |   |   | - |   |   |   | 84.4 |   |
| Proceeds      from the sale of investments                                                              |   |                    | -         |   |              |   | 188.7 |   |   |   | 200.6 |   |   |   | 353.9 |   |
| Proceeds      from the return on investments                                                            |   |                    | 13.8      |   |              |   | 43.5 |   |   |   | 50.8 |   |   |   | 36.8 |   |
| Other,      net                                                                                         |   |                    | 6.0       |   |              |   | (1.0 | ) |   |   | 12.7 |   |   |   | 17.7 |   |
| Net      cash used in investing activities                                                              |   |                    | (25,241.9 | )      |              |   | (665.0 | ) |   |   | (2,693.6 | ) |   |   | (1,636.9 | ) |
|                                                                                                    |   |                    |      |   |              |   |   |   |   |   |   |   |   |   |   |   |
| Cash      Flows from Financing Activities:                                                              |   |                    |      |   |              |   |   |   |   |   |   |   |   |   |   |   |
| Dividends      paid on common and preferred stock                                                       |   |                    | -         |   |              |   | (176.6 | ) |   |   | (513.1 | ) |   |   | (490.5 | ) |
| Repayments      of long-term debt                                                                       |   |                    | (1,457.8  | )      |              |   | (36.9 | ) |   |   | (1,198.5 | ) |   |   | (2,655.7 | ) |
| Repurchases      of common stock                                                                        |   |                    | -         |   |              |   | (1,360.3 | ) |   |   | (1,595.6 | ) |   |   | - |   |
| Cash      payments to effect conversion of convertible notes                                            |   |                    | (7.3      | )      |              |   | - |   |   |   | (67.6 | ) |   |   | - |   |
| Distributions      to minority investors                                                                |   |                    | (11.2     | )      |              |   | (31.8 | ) |   |   | (38.2 | ) |   |   | (65.6 | ) |
| Excess      tax benefits from stock option exercises                                                    |   |                    | -         |   |              |   | 25.8 |   |   |   | 12.2 |   |   |   | - |   |
| Proceeds      from the settlement of interest rate swaps                                                |   |                    | 33.9      |   |              |   | - |   |   |   | - |   |   |   | - |   |
| Long-term      debt issued, net of issuance costs                                                       |   |                    | 22,237.1  |   |              |   | - |   |   |   | - |   |   |   | 1,000.0 |   |
| Common      stock issued                                                                                |   |                    | 4,506.9   |   |              |   | 63.9 |   |   |   | 216.0 |   |   |   | 1,463.5 |   |
| Net      cash provided from (used in) financing activities                                              |   |                    | 25,301.6  |   |              |   | (1,515.9 | ) |   |   | (3,184.8 | ) |   |   | (748.3 | ) |

----

Index to Financial Supplement 

|                                                                   |   | Successor               |   |   | Predecessor       |   |
|------------------------------------------------------------------------|--------|-------------------------|--------|--------|-------------------|--------|
|                                                                   |   | November 16 - |   |   | January      1 -  |   |   | Year      Ended |   |   | Year      Ended |   |
|                                                                   |   | December 31,       |   |   | November 15, |   |   | December 31, |   |   | December 31, |   |
|                                                                   |   | 2007                    |   |   | 2007              |   |   | 2006 |   |   | 2005 |   |
|                                                                   |   |                    |   |   |              |   |   |   |   |   |   |   |
| Cash      Flows from Discontinued Operations:                          |   |                    |   |   |              |   |   |   |   |   |   |   |
| Cash      provided from operating activities                           |   |                    | 0.7    |   |              |   | 3.2 |   |   |   | 599.5 |   |   |   | 1,242.5 |   |
| Cash      provided from investing activities                           |   |                    | -      |   |              |   | 47.7 |   |   |   | 3,746.6 |   |   |   | 171.4 |   |
| Cash      used in financing activities                                 |   |                    | -      |   |              |   | - |   |   |   | (0.2 | ) |   |   | (87.0 | ) |
| Net      cash provided from discontinued operations                    |   |                    | 0.7    |   |              |   | 50.9 |   |   |   | 4,345.9 |   |   |   | 1,326.9 |   |
| Effect      of exchange rate changes on cash and short-terminvestments |   |                    | -      |   |              |   | - |   |   |   | (5.9 | ) |   |   | (1.8 | ) |
|                                                                   |   |                    |   |   |              |   |   |   |   |   |   |   |   |   |   |   |
| Increase      (decrease) in cash and short-term investments            |   |                    | (117.6 | )      |              |   | 16.7 |   |   |   | (48.2 | ) |   |   | 505.2 |   |
|                                                                   |   |                    |   |   |              |   |   |   |   |   |   |   |   |   |   |   |
| Cash      and Short-term Investments:                                  |   |                    |   |   |              |   |   |   |   |   |   |   |   |   |   |   |
| Beginning      of the period                                           |   |                    | 950.9  |   |              |   | 934.2 |   |   |   | 982.4 |   |   |   | 477.2 |   |
| End      of the period                                                 |   | $                       | 833.3  |   |              | $      | 950.9 |   |   | $ | 934.2 |   |   | $ | 982.4 |   |

----

Index to Financial Supplement 

Consolidated Statements of Shareholders’ Equity

|                                                                                                  |   |      |   |   |   |   |   |       |   |   | Accumulated        |   |   |     |   |   |   |   |
|-------------------------------------------------------------------------------------------------------|--------|-----------|--------|--------|--------|--------|--------|------------|--------|--------|--------------------|--------|--------|----------|--------|--------|--------|--------|
|                                                                                                  |   |      |   |   |   |   |   | Additional |   |   | Other              |   |   |     |   |   |   |   |
|                                                                                                  |   | Preferred |   |   | Common |   |   | Paid-In    |   |   | Comprehensive      |   |   | Retained |   |   |   |   |
| Predecessor:                                                                                          |   | Stock     |   |   | Stock  |   |   | Capital    |   |   | Income      (Loss) |   |   | Earnings |   |   | Total  |   |
| Balance      at December 31, 2004                                                                     |   | $         | 0.3    |   |   | $      | 302.3  |       |   | $      | 197.9              |   |   | $        | 154.4  |   |   | $      | 6,473.8 |   |   | $ | 7,128.7 |   |
| Net      income                                                                                       |   |      | -      |   |   |   | -      |       |   |   | -                  |   |   |     | -      |   |   |   | 1,331.4 |   |   |   | 1,331.4 |   |
| Other      comprehensive loss, net of tax (See Note 16)                                               |   |      |   |   |   |   |   |       |   |   |               |   |   |     |   |   |   |   |   |   |   |   |   |   |
| Unrealized      holding losses on investments, net of reclassification      adjustments               |   |      | -      |   |   |   | -      |       |   |   | -                  |   |   |     | (131.6 | )      |   |   | - |   |   |   | (131.6 | ) |
| Foreign      currency translation adjustment, net of reclassification      adjustments                |   |      | -      |   |   |   | -      |       |   |   | -                  |   |   |     | (3.3   | )      |   |   | - |   |   |   | (3.3 | ) |
| Comprehensive      income                                                                             |   |      | -      |   |   |   | -      |       |   |   | -                  |   |   |     | (134.9 | )      |   |   | 1,331.4 |   |   |   | 1,196.5 |   |
| Acquisitions      (See Note 4)                                                                        |   |      | -      |   |   |   | 54.3   |       |   |   | 3,688.2            |   |   |     | -      |   |   |   | - |   |   |   | 3,742.5 |   |
| Settle      equity unit purchase obligation (See Note 6)                                              |   |      | -      |   |   |   | 24.5   |       |   |   | 1,360.5            |   |   |     | -      |   |   |   | - |   |   |   | 1,385.0 |   |
| Employee      plans, net                                                                              |   |      | -      |   |   |   | 2.5    |       |   |   | 76.1               |   |   |     | -      |   |   |   | - |   |   |   | 78.6 |   |
| Amortization      of stock-based compensation (See Note 9)                                            |   |      | -      |   |   |   | -      |       |   |   | 6.7                |   |   |     | -      |   |   |   | - |   |   |   | 6.7 |   |
| Tax      benefit for non-qualified stock options                                                      |   |      | -      |   |   |   | -      |       |   |   | 9.9                |   |   |     | -      |   |   |   | - |   |   |   | 9.9 |   |
| Dividends      on common stock - $1.525 per share                                                     |   |      | -      |   |   |   | -      |       |   |   | -                  |   |   |     | -      |   |   |   | (532.3 | ) |   |   | (532.3 | ) |
| Preferred      stock dividends                                                                        |   |      | -      |   |   |   | -      |       |   |   | -                  |   |   |     | -      |   |   |   | (0.1 | ) |   |   | (0.1 | ) |
| Balance      at December 31, 2005                                                                     |   |      | 0.3    |   |   |   | 383.6  |       |   |   | 5,339.3            |   |   |     | 19.5   |   |   |   | 7,272.8 |   |   |   | 13,015.5 |   |
| Net      income                                                                                       |   |      | -      |   |   |   | -      |       |   |   | -                  |   |   |     | -      |   |   |   | 1,129.4 |   |   |   | 1,129.4 |   |
| Other      comprehensive income, net of tax (See Note 16)                                             |   |      |   |   |   |   |   |       |   |   |               |   |   |     |   |   |   |   |   |   |   |   |   |   |
| Unrealized      holding gains on investments                                                          |   |      | -      |   |   |   | -      |       |   |   | -                  |   |   |     | 15.2   |   |   |   | - |   |   |   | 15.2 |   |
| Foreign      currency translation adjustment, net of reclassification      adjustments                |   |      | -      |   |   |   | -      |       |   |   | -                  |   |   |     | 2.8    |   |   |   | - |   |   |   | 2.8 |   |
| Comprehensive      income                                                                             |   |      | -      |   |   |   | -      |       |   |   | -                  |   |   |     | 18.0   |   |   |   | 1,129.4 |   |   |   | 1,147.4 |   |
| Employee      plans, net                                                                              |   |      | -      |   |   |   | 5.4    |       |   |   | 210.7              |   |   |     | -      |   |   |   | - |   |   |   | 216.1 |   |
| Amortization      of stock-based compensation (See Note 9)                                            |   |      | -      |   |   |   | -      |       |   |   | 37.5               |   |   |     | -      |   |   |   | - |   |   |   | 37.5 |   |
| Tax      benefit for non-qualified stock options                                                      |   |      | -      |   |   |   | -      |       |   |   | 11.7               |   |   |     | -      |   |   |   | - |   |   |   | 11.7 |   |
| Conversion      of convertible notes (See Note 4)                                                     |   |      | -      |   |   |   | 4.0    |       |   |   | 41.4               |   |   |     | -      |   |   |   | - |   |   |   | 45.4 |   |
| Spin-off      of wireline telecommunications business                                                 |   |      | -      |   |   |   | -      |       |   |   | 223.3              |   |   |     | -      |   |   |   | - |   |   |   | 223.3 |   |
| Repurchases      of stock                                                                             |   |      | -      |   |   |   | (28.5  | )          |   |   | (1,567.1           | )      |   |     | -      |   |   |   | - |   |   |   | (1,595.6 | ) |
| Adjustment      to initially apply the recognition provisions of SFAS No. 158, net      of tax        |   |      | -      |   |   |   | -      |       |   |   | -                  |   |   |     | (28.0  | )      |   |   | - |   |   |   | (28.0 | ) |
| Dividends      on common stock - $1.07 per share                                                      |   |      | -      |   |   |   | -      |       |   |   | -                  |   |   |     | -      |   |   |   | (411.3 | ) |   |   | (411.3 | ) |
| Preferred      stock dividends                                                                        |   |      | -      |   |   |   | -      |       |   |   | -                  |   |   |     | -      |   |   |   | (0.1 | ) |   |   | (0.1 | ) |
| Balance      at December 31, 2006                                                                     |   |      | 0.3    |   |   |   | 364.5  |       |   |   | 4,296.8            |   |   |     | 9.5    |   |   |   | 7,990.8 |   |   |   | 12,661.9 |   |
| Cumulative      effect adjustment related to adoption of FASB Interpretation No. 48 (See      Note 3) |   |      |   |   |   |   |   |       |   |   |               |   |   |     |   |   |   |   | 3.2 |   |   |   | 3.2 |   |
| Net      income                                                                                       |   |      | -      |   |   |   | -      |       |   |   | -                  |   |   |     | -      |   |   |   | 286.6 |   |   |   | 286.6 |   |
| Other      comprehensive loss, net of tax (See Note 16)                                               |   |      |   |   |   |   |   |       |   |   |               |   |   |     |   |   |   |   |   |   |   |   |   |   |
| Unrealized      holding losses on investments, net of reclassification      adjustments               |   |      | -      |   |   |   | -      |       |   |   | -                  |   |   |     | (37.5  | )      |   |   | - |   |   |   | (37.5 | ) |
| Defined      benefit pension plans                                                                    |   |      | -      |   |   |   | -      |       |   |   | -                  |   |   |     | 14.8   |   |   |   | - |   |   |   | 14.8 |   |
| Other      postretirement benefit plan                                                                |   |      | -      |   |   |   | -      |       |   |   | -                  |   |   |     | (0.8   | )      |   |   | - |   |   |   | (0.8 | ) |
| Comprehensive      income                                                                             |   |      | -      |   |   |   | -      |       |   |   | -                  |   |   |     | (23.5  | )      |   |   | 286.6 |   |   |   | 263.1 |   |
| Employee      plans, net                                                                              |   |      | -      |   |   |   | 2.0    |       |   |   | 43.1               |   |   |     | -      |   |   |   | - |   |   |   | 45.1 |   |
| Amortization      of stock-based compensation (See Note 9)                                            |   |      | -      |   |   |   | -      |       |   |   | 92.2               |   |   |     | -      |   |   |   | - |   |   |   | 92.2 |   |
| Tax      benefit for non-qualified stock options                                                      |   |      | -      |   |   |   | -      |       |   |   | 27.3               |   |   |     | -      |   |   |   | - |   |   |   | 27.3 |   |
| Repurchases      of stock                                                                             |   |      | -      |   |   |   | (22.0  | )          |   |   | (1,338.3           | )      |   |     | -      |   |   |   | - |   |   |   | (1,360.3 | ) |
| Other                                                                                                 |   |      | -      |   |   |   | -      |       |   |   | 4.3                |   |   |     | -      |   |   |   | - |   |   |   | 4.3 |   |
| Dividends      on common stock - $.375 per share                                                      |   |      | -      |   |   |   | -      |       |   |   | -                  |   |   |     | -      |   |   |   | (130.5 | ) |   |   | (130.5 | ) |
| Preferred      stock dividends                                                                        |   |      | -      |   |   |   | -      |       |   |   | -                  |   |   |     | -      |   |   |   | (0.1 | ) |   |   | (0.1 | ) |
| Balance      at November 15, 2007                                                                     |   | $         | 0.3    |   |   | $      | 344.5  |       |   | $      | 3,125.4            |   |   | $        | (14.0  | )      |   | $      | 8,150.0 |   |   | $ | 11,606.2 |   |

----

Index to Financial Supplement 

|                                                                                                                            |   |              |   |   |    |   |   |          |   |   | Accumulated |   |   |    |       |   |   |   |
|---------------------------------------------------------------------------------------------------------------------------------|--------|-------------------|--------|--------|---------|--------|--------|---------------|--------|--------|-------------|--------|--------|---------|------------|--------|--------|--------|
|                                                                                                                            |   |              |   |   |    |   |   | Additional    |   |   | Other       |   |   |    |       |   |   |   |
|                                                                                                                            |   | Common      Stock |   |   | Paid-In |   |   | Comprehensive |   |   | Retained    |   |   |    |       |
| Successor:                                                                                                                      |   | Shares            |   |   | Amount  |   |   | Capital       |   |   | Loss        |   |   | Deficit |       |   | Total  |   |
| Equity      contributions from Sponsors and management employees in connection with      the acquisition of Alltel (See Note 2) |   |              | 454.0  |   |    | $      | 4.5    |          |   | $      | 4,535.5     |   |   | $       | -          |   |   | $      | - |   |   | $ | 4,540.0 |   |
| Net      loss                                                                                                                   |   |              |   |   |    |   |   |          |   |   |        |   |   |    |       |   |   |   | (103.4 | ) |   |   | (103.4 | ) |
| Other      comprehensive loss, net of tax (See Note 16)                                                                         |   |              |   |   |    |   |   |          |   |   |        |   |   |    |       |   |   |   |   |   |   |   |   |   |
| Unrealized      losses on hedging activities                                                                                    |   |              | -      |   |    |   | -      |          |   |   | -           |   |   |    | (5.7       | )      |   |   | - |   |   |   | (5.7 | ) |
| Defined      benefit pension plans                                                                                              |   |              | -      |   |    |   | -      |          |   |   | -           |   |   |    | 0.5        |   |   |   | - |   |   |   | 0.5 |   |
| Other      postretirement plans                                                                                                 |   |              | -      |   |    |   | -      |          |   |   | -           |   |   |    |  (0.1 | )      |   |   | - |   |   |   | (0.1 | ) |
| Comprehensive      loss                                                                                                         |   |              | -      |   |    |   | -      |          |   |   | -           |   |   |    |  (5.3 | )      |   |   | (103.4 | ) |   |   | (108.7 | ) |
| Amortization      of stock-based compensation (See Note 9)                                                                      |   |              | -      |   |    |   | -      |          |   |   |  1.2   |   |   |    |  -    |   |   |   | - |   |   |   | 1.2 |   |
| Balance      at December 31, 2007                                                                                               |   |              | 454.0  |   |    | $      | 4.5    |          |   | $      | 4,536.7     |   |   | $       | (5.3       | )      |   | $      | (103.4 | ) |   | $ | 4,432.5 |   |

----

Index to Financial Supplement

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

| 1. | Summary of SignificantAccounting      Policies: |
|----|-------------------------------------------------|

----

Index to Financial Supplement 

| 1. | Summary of SignificantAccounting Policies,      Continued: |
|----|------------------------------------------------------------|

|                                            |   | Successor |   |   | Predecessor |
|-------------------------------------------------|--------|-----------|--------|--------|-------------|
| (Millions)                                      |   | 2007      |   |   | 2006        |
| Investments      in unconsolidated partnerships |   | $         | 521.7  |   |        | $ | 165.1 |
| Equity      securities                          |   |      | -      |   |        |   | 189.8 |
| Other      cost investments                     |   |      | 14.4   |   |        |   | 14.0 |
|                                            |   | $         | 536.1  |   |        | $ | 368.9 |

----

Index to Financial Supplement 

| 1. | Summary of SignificantAccounting Policies,      Continued: |
|----|------------------------------------------------------------|

|                               | Depreciable      Lives |
|------------------------------------|------------------------|
| Land      improvements             | 5-12      years        |
| Buildings      and improvements    | 5-35      years        |
| Operating      plant and equipment | 3-20      years        |
| Information      processing        | 3-7      years         |
| Furniture      and fixtures        | 5-10      years        |

----

Index to Financial Supplement 

| 1. | Summary of SignificantAccounting Policies,      Continued: |
|----|------------------------------------------------------------|

----

Index to Financial Supplement 

| 1. | Summary of SignificantAccounting Policies,      Continued: |
|----|------------------------------------------------------------|

----

Index to Financial Supplement 

| 1. | Summary of SignificantAccounting Policies,      Continued: |
|----|------------------------------------------------------------|

----

Index to Financial Supplement 

| 1. | Summary of SignificantAccounting Policies,      Continued: |
|----|------------------------------------------------------------|

| 2. | Acquisition      of Alltel by Two Private Investment Firms and Related Financing      Transactions: |
|----|-----------------------------------------------------------------------------------------------------|

----

Index to Financial Supplement 

| 2. | Acquisition      of Alltel by Two Private Investment Firms and Related Financing      Transactions, Continued: |
|----|----------------------------------------------------------------------------------------------------------------|

| (Millions)                                                                             |   |
|----------------------------------------------------------------------------------------|--------|
| Costs      to acquire:                                                                 |   |   |   |
| Cash      payments to holders of Alltel common and preferred stock                     |   | $ | 24,574.8 |   |
| Cash      payments to settle outstanding stock option and restricted stock      awards |   |   | 304.5 |   |
| Other      direct transaction costs and expenses                                       |   |   | 185.9 |   |
| Total                                                                                  |   |   | 25,065.2 |   |
| Allocated      to:                                                                     |   |   |   |   |
| Cash      and short-term investments                                                   |   |   | (950.9 | ) |
| Accounts      receivable                                                               |   |   | (855.9 | ) |
| Inventories                                                                            |   |   | (207.0 | ) |
| Prepaid      expenses and other current assets                                         |   |   | (97.8 | ) |
| Investments                                                                            |   |   | (542.0 | ) |
| Property,      plant and equipment                                                     |   |   | (5,377.9 | ) |
| Cellular      and PCS licenses                                                         |   |   | (3,224.5 | ) |
| Customer      list                                                                     |   |   | (2,819.6 | ) |
| Trademarks      and tradenames                                                         |   |   | (800.0 | ) |
| Non-compete      agreement                                                             |   |   | (30.0 | ) |
| Roaming      agreement                                                                 |   |   | (4.0 | ) |
| Other      assets                                                                      |   |   | (87.0 | ) |
| Assets      held for sale                                                              |   |   | (7.3 | ) |
| Total      assets acquired                                                             |   |   | (15,003.9 | ) |
|                                                                                   |   |   |   |   |
| Accounts      payable                                                                  |   |   | 905.5 |   |
| Advance      payments and customer deposits                                            |   |   | 209.9 |   |
| Accrued      taxes                                                                     |   |   | 169.1 |   |
| Accrued      interest                                                                  |   |   | 54.4 |   |
| Other      current liabilities                                                         |   |   | 281.6 |   |
| Long-term      debt, including current maturities                                      |   |   | 2,276.3 |   |
| Deferred      income taxes                                                             |   |   | 2,573.3 |   |
| Other      long-term liabilities                                                       |   |   | 352.7 |   |
| Liabilities      related to assets held for sale                                       |   |   | 0.2 |   |
| Total      liabilities assumed                                                         |   |   | 6,823.0 |   |
| Net      assets acquired                                                               |   |   | (8,180.9 | ) |
|                                                                                   |   |   |   |   |
| Management      equity rollover in connection with the Merger                          |   |   | 33.1 |   |
| Goodwill      at date of acquisition                                                   |   | $ | 16,917.4 |   |

----

Index to Financial Supplement 

| 2. | Acquisition      of Alltel by Two Private Investment Firms and Related Financing      Transactions, Continued: |
|----|----------------------------------------------------------------------------------------------------------------|

|                                 |   | Years      Ended  |    |
|--------------------------------------|--------|-------------------|---------|
|                                 |   | December      31, |    |
| (Millions)                           |   | 2007              |    |   | 2006 |   |
| Revenues      and sales              |   | $                 | 8,772.0 |   |   | $ | 7,848.5 |   |
| Operating      income                |   | $                 | 853.5   |   |   | $ | 692.1 |   |
| Loss      from continuing operations |   | $                 | (488.0  | ) |   | $ | (705.7 | ) |
| Net      loss                        |   | $                 | (488.9  | ) |   | $ | (400.0 | ) |

| 3. | Accounting      Changes: |
|----|--------------------------|

----

Index to Financial Supplement 

| 3. | Accounting      Changes, Continued |
|----|------------------------------------|

| (Millions)                                                                                                                                  |   |   |    |   |
|---------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|---------|--------|
| Net      income as reported                                                                                                                 |   | $      | 1,331.4 |   |
| Add      stock-based compensation expense included in Net income, net of      related tax effects                                           |   |   | 4.2     |   |
| Deduct      stock-based employee compensation expense determined under fair      value method for all awards, net of related tax    effects |   |   | (23.3   | )      |
| Pro      forma net income                                                                                                                   |   | $      | 1,312.3 |   |

----

Index to Financial Supplement 

| 3. | Accounting      Changes, Continued |
|----|------------------------------------|

| 4. | Acquisitions: |
|----|---------------|

----

Index to Financial Supplement

| 4. | Acquisitions,      Continued: |
|----|-------------------------------|

|                                               |   | Acquired      from    |    |   |   |   |
|----------------------------------------------------|--------|-----------------------|---------|--------|--------|--------|
|  (Millions)                                   |   | Midwest      Wireless |    |   | Other  |   |   | Combined      Totals |   |
| Fair      value of assets acquired:                |   |                  |    |   |   |   |   |   |   |
| Current      assets                                |   | $                     | 33.7    |   |   | $      | 11.7 |   |   | $ | 45.4 |   |
| Investments                                        |   |                  | 2.9     |   |   |   | - |   |   |   | 2.9 |   |
| Property,      plant and equipment                 |   |                  | 108.8   |   |   |   | 30.6 |   |   |   | 139.4 |   |
| Goodwill                                           |   |                  | 654.9   |   |   |   | 465.2 |   |   |   | 1,120.1 |   |
| Cellular      licenses                             |   |                  | 125.0   |   |   |   | 84.4 |   |   |   | 209.4 |   |
| Customer      list                                 |   |                  | 190.0   |   |   |   | 73.5 |   |   |   | 263.5 |   |
| Total      assets acquired                         |   |                  | 1,115.3 |   |   |   | 665.4 |   |   |   | 1,780.7 |   |
| Liabilities      assumed:                          |   |                  |    |   |   |   |   |   |   |   |   |   |
| Current      liabilities                           |   |                  | (31.8   | )      |   |   | (28.5 | ) |   |   | (60.3 | ) |
| Deferred      taxes established on acquired assets |   |                  | -       |   |   |   | (18.5 | ) |   |   | (18.5 | ) |
| Total      liabilities assumed                     |   |                  | (31.8   | )      |   |   | (47.0 | ) |   |   | (78.8 | ) |
| Minority      interest liability acquired          |   |                  | -       |   |   |   | 58.7 |   |   |   | 58.7 |   |
| Net      cash paid                                 |   | $                     | 1,083.5 |   |   | $      | 677.1 |   |   | $ | 1,760.6 |   |

----

Index to Financial Supplement 

| 4. | Acquisitions,      Continued: |
|----|-------------------------------|

----

Index to Financial Supplement 

| 4. | Acquisitions,      Continued: |
|----|-------------------------------|

----

Index to Financial Supplement 

| 4. | Acquisitions,      Continued: |
|----|-------------------------------|

|                                               |   | Acquired      from    |     |   |     |   |
|----------------------------------------------------|--------|-----------------------|----------|--------|----------|--------|
|  (Millions)                                   |   | Western      Wireless |     |   | AT&T |   |   | U.S.      Cellular |   |   | Other |   |   | Combined      Totals |   |
| Fair      value of assets acquired:                |   |                  |     |   |     |   |   |   |   |   |   |   |   |   |   |
| Current      assets                                |   | $                     | 195.4    |   |     | $      | 1.1 |   |   | $ | 4.7 |   |   | $ | 4.3 |   |   | $ | 205.5 |   |
| Investments                                        |   |                  | 132.2    |   |     |   | - |   |   |   | - |   |   |   | - |   |   |   | 132.2 |   |
| Property,      plant and equipment                 |   |                  | 506.7    |   |     |   | 38.0 |   |   |   | 30.5 |   |   |   | 10.2 |   |   |   | 585.4 |   |
| Other      assets                                  |   |                  | 7.1      |   |     |   | - |   |   |   | 2.1 |   |   |   | - |   |   |   | 9.2 |   |
| Assets      held for sale                          |   |                  | 2,751.0  |   |     |   | - |   |   |   | - |   |   |   | - |   |   |   | 2,751.0 |   |
| Goodwill                                           |   |                  | 3,431.0  |   |     |   | 269.0 |   |   |   | 57.1 |   |   |   | 39.7 |   |   |   | 3,796.8 |   |
| Cellular      licenses                             |   |                  | 505.0    |   |     |   | 91.0 |   |   |   | 17.3 |   |   |   | 3.4 |   |   |   | 616.7 |   |
| Customer      list                                 |   |                  | 326.0    |   |     |   | 10.9 |   |   |   | 24.0 |   |   |   | 1.9 |   |   |   | 362.8 |   |
| Roaming      agreement                             |   |                  | 6.1      |   |     |   | - |   |   |   | - |   |   |   | - |   |   |   | 6.1 |   |
| Total      assets acquired                         |   |                  | 7,860.5  |   |     |   | 410.0 |   |   |   | 135.7 |   |   |   | 59.5 |   |   |   | 8,465.7 |   |
| Liabilities      assumed:                          |   |                  |     |   |     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Current      liabilities                           |   |                  | (177.0   | )      |     |   | (5.5 | ) |   |   | (3.9 | ) |   |   | (2.4 | ) |   |   | (188.8 | ) |
| Deferred      taxes established on acquired assets |   |                  | (482.8   | )      |     |   | - |   |   |   | - |   |   |   | - |   |   |   | (482.8 | ) |
| Long-term      debt                                |   |                  | (2,112.9 | )      |     |   | - |   |   |   | - |   |   |   | - |   |   |   | (2,112.9 | ) |
| Other      liabilities                             |   |                  | (25.7    | )      |     |   | - |   |   |   | - |   |   |   | - |   |   |   | (25.7 | ) |
| Liabilities      related to assets held for sale   |   |                  | (398.8   | )      |     |   | - |   |   |   | - |   |   |   | - |   |   |   | (398.8 | ) |
| Total      liabilities assumed                     |   |                  | (3,197.2 | )      |     |   | (5.5 | ) |   |   | (3.9 | ) |   |   | (2.4 | ) |   |   | (3,209.0 | ) |
|                                               |   |                  |     |   |     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Common      stock issued                           |   |                  | (3,742.5 | )      |     |   | - |   |   |   | - |   |   |   | - |   |   |   | (3,742.5 | ) |
| Fair      value of assets exchanged                |   |                  | -        |   |     |   | (265.9 | ) |   |   | (180.0 | ) |   |   | - |   |   |   | (445.9 | ) |
| Minority      interest liability acquired          |   |                  | -        |   |     |   | 14.4 |   |   |   | - |   |   |   | 6.7 |   |   |   | 21.1 |   |
| Net      cash paid (received)                      |   | $                     | 920.8    |   |     | $      | 153.0 |   |   | $ | (48.2 | ) |   | $ | 63.8 |   |   | $ | 1,089.4 |   |

| (Millions)                                                |   |   |    |
|-----------------------------------------------------------|--------|--------|---------|
| Revenues      and sales                                   |   | $      | 7,168.6 |
| Income      from continuing operations                    |   | $      | 769.1   |
| Income      before cumulative effect of accounting change |   | $      | 1,345.1 |
| Net      income                                           |   | $      | 1,337.7 |

----

Index to Financial Supplement 

| 5. | Goodwill      and Other Intangible Assets: |
|----|--------------------------------------------|

| (Millions)                                               |   |
|----------------------------------------------------------|--------|
| Predecessor:                                             |   |   |   |
| Balance      at December 31, 2005                        |   | $ | 7,429.3 |   |
| Acquired      during the period                          |   |   | 1,120.1 |   |
| Allocated      to assets held for sale during the period |   |   | (29.6 | ) |
| Other      adjustments                                   |   |   | (72.8 | ) |
| Balance      at December 31, 2006                        |   |   | 8,447.0 |   |
| Acquired      during the period                          |   |   | 2.0 |   |
| Allocated      to assets held for sale during the period |   |   | (2.4 | ) |
| Other      adjustments                                   |   |   | (27.5 | ) |
| Balance      at November 15, 2007                        |   | $ | 8,419.1 |   |
| Successor:                                               |   |   |   |   |
| Balance      at November 16, 2007 and December 31, 2007  |   | $ | 16,917.4 |   |

|                           |   | Successor |    |   | Predecessor |   |
|--------------------------------|--------|-----------|---------|--------|-------------|--------|
| (Millions)                     |   | 2007      |    |   | 2006        |   |
| Cellular      and PCS licenses |   | $         | 3,224.5 |   |        | $      | 1,657.8 |   |

|                           |   |   |
|--------------------------------|--------|--------|
|                           |   | 2007   |
|                           |   |   |   |   |   |   |   | Net |
|                           |   | Gross  |   |   | Accumulated |   |   | Carrying |
|  (Millions)               |   | Cost   |   |   | Amortization |   |   | Value |
| Successor:                     |   |   |   |   |   |   |   |   |
| Customer      list             |   | $      | 2,819.6 |   |   | $ | (79.0 | ) |   | $ | 2,740.6 |
| Trademarks      and tradenames |   |   | 800.0 |   |   |   | (12.5 | ) |   |   | 787.5 |
| Non-compete      agreement     |   |   | 30.0 |   |   |   | (1.9 | ) |   |   | 28.1 |
| Roaming      agreement         |   |   | 4.0 |   |   |   | (0.1 | ) |   |   | 3.9 |
|                           |   | $      | 3,653.6 |   |   | $ | (93.5 | ) |   | $ | 3,560.1 |
|                           |   |   |
|                           |   | 2006   |
|                           |   |   |   |   |   |   |   |   |   | Net |
|                           |   | Gross  |   |   | Accumulated |   |   | Carrying |
|  (Millions)               |   | Cost   |   |   | Amortization |   |   | Value |
| Predecessor:                   |   |   |   |   |   |   |   |   |   |   |   |
| Customer      lists            |   | $      | 946.6 |   |   | $ | (478.6 | ) |   | $ | 468.0 |
| Roaming      agreement         |   |   | 6.1 |   |   |   | (2.5 | ) |   |   | 3.6 |
|                           |   | $      | 952.7 |   |   | $ | (481.1 | ) |   | $ | 471.6 |

----

Index to Financial Supplement 

| 6. | Debt: |
|----|-------|

|                                                                                              |   | Successor    |     |   | Predecessor   |   |
|---------------------------------------------------------------------------------------------------|--------|--------------|----------|--------|---------------|--------|
| (Millions)                                                                                        |   | 2007         |     |   | 2006          |   |
| Issued      by Alltel Corporation:                                                                |   |         |     |   |          |   |
| Equity      unit senior notes, 4.656%, due 2007                                                   |   | $            | -        |   |          | $      | 35.6 |   |
| Debentures      and notes, without collateral:                                                    |   |         |     |   |          |   |   |   |
| 7.00%,      due 2012                                                                              |   |         | 800.0    |   |          |   | 800.0 |   |
| 6.50%,      due 2013                                                                              |   |         | 200.0    |   |          |   | 200.0 |   |
| 7.00%,      due 2016                                                                              |   |         | 300.0    |   |          |   | 300.0 |   |
| 6.80%,      due 2029                                                                              |   |         | 300.0    |   |          |   | 300.0 |   |
| 7.875%,      due 2032                                                                             |   |         | 700.0    |   |          |   | 700.0 |   |
| Collateralized      note, 10.00%, due 2010                                                        |   |         | 0.2      |   |          |   | 0.2 |   |
| Industrial      revenue bonds, 5.28%, due 2008 (a)                                                |   |         | -        |   |          |   | 1.3 |   |
| Issued      by subsidiaries of Alltel Corporation:                                                |   |         |     |   |          |   |   |   |
| Bank      credit facilities:                                                                      |   |         |     |   |          |   |   |   |
| Alltel      Communications – Senior secured term loan, variable rates due May 15,      2015 |   |         | 13,965.0 |   |          |   | - |   |
| Alltel      Communications – Unsecured cash pay debt, variable rates due      2015          |   |         | 5,200.0  |   |          |   | - |   |
| Alltel      Communications – Unsecured PIK toggle debt, variable rates due      2017        |   |         | 1,500.0  |   |          |   | - |   |
| Debentures      and notes, without collateral:                                                    |   |         |     |   |          |   |   |   |
| Alltel      Communications – 6.65%, due 2008 (b)                                            |   |         | -        |   |          |   | 39.0 |   |
| Alltel      Communications – 7.60%, due 2009 (b)                                            |   |         | -        |   |          |   | 53.0 |   |
| Alltel      Communications – 10.375%/11.125%, due 2017                                      |   |         | 1,000.0  |   |          |   | - |   |
| Alltel      Ohio Limited Partnership – 8.00%, due 2010 (b)                                  |   |         | -        |   |          |   | 297.3 |   |
| Western      Wireless LLC – 4.625% convertible notes, due 2023 (b)                          |   |         | -        |   |          |   | 2.0 |   |
| Market      value of interest rate swaps (c)                                                      |   |         | -        |   |          |   | 14.9 |   |
| Discount      on long-term debt (d)                                                               |   |         | (450.4   | )      |          |   | (9.6 | ) |
|                                                                                              |   |         | 23,514.8 |   |          |   | 2,733.7 |   |
| Less      current maturities                                                                      |   |         | (140.1   | )      |          |   | (36.3 | ) |
| Total      long-term debt                                                                         |   | $            | 23,374.7 |   |          | $      | 2,697.4 |   |
| Weighted      rate                                                                                |   |         | 8.2%     |   |          |   | 7.3% |   |
| Weighted      maturity                                                                            |   | 8      years |     |   | 13      years |   |

|  | (a) | During      the third quarter of 2007, Alltel redeemed this note prior to maturity for      $0.7 million in cash. |
|--|-----|-------------------------------------------------------------------------------------------------------------------|

|  | (b) | During      the fourth quarter of 2007, in conjunction with the Merger and Financing      Transactions, Alltel repurchased these notes for $422.8 million in      cash.  During December 2007, the remaining aggregate principal      amount of $2.0 million of Western Wireless LLC notes were converted into      $7.3 million in cash. |
|--|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (c) | In      connection with the Merger, Alltel terminated all four of its pay      variable/receive fixed, interest rate swap agreements.  Alltel      also had a $1.5 billion commercial paper program that was supported by a      $1.5 billion revolving credit facility, both of which were terminated in      conjunction with the Merger and Financing  Transactions. |
|--|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (d) | Alltel      recorded fair value adjustments of $454.0 million to decrease the carrying      value of $2.3 billion of existing long-term debt obligations assumed in      the Merger.  The discount on long-term debt will be amortized as      an increase to interest expense over the term of each related debt      issue. |
|--|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

Index to Financial Supplement 

| 6. | Debt,      Continued: |
|----|-----------------------|

----

Index to Financial Supplement 

| 6. | Debt,      Continued: |
|----|-----------------------|

|                                            |   | Successor               |   |   | Predecessor           |   |
|-------------------------------------------------|--------|-------------------------|--------|--------|-----------------------|--------|
|                                            |   | November 16 - |   |   | January 1      - |   |   | Year      Ended |   |   | Year      Ended |   |
|                                            |   | December 31,       |   |   | November 15,     |   |   | December 31, |   |   | December 31, |   |
| (Millions)                                      |   | 2007                    |   |   | 2007                  |   |   | 2006 |   |   | 2005 |   |
| Interest      expense related to long-term debt |   | $                       | 281.7  |   |                  | $      | 179.0 |   |   | $ | 298.8 |   |   | $ | 351.5 |   |
| Other      interest                             |   |                    | 0.2    |   |                  |   | 0.3 |   |   |   | - |   |   |   | 0.1 |   |
| Effects      of interest rate swaps             |   |                    | (0.1   | )      |                  |   | (0.4 | ) |   |   | (3.2 | ) |   |   | (20.5 | ) |
| Less      capitalized interest                  |   |                    | (1.4   | )      |                  |   | (15.6 | ) |   |   | (13.1 | ) |   |   | (16.6 | ) |
|                                            |   | $                       | 280.4  |   |                  | $      | 163.3 |   |   | $ | 282.5 |   |   | $ | 314.5 |   |

----

Index to Financial Supplement 

| 6. | Debt,      Continued: |
|----|-----------------------|

| Year       |   | (Millions) |
|------------|--------|------------|
| 2008       |   | $          | 140.1 |
| 2009       |   |       | 140.1 |
| 2010       |   |       | 140.0 |
| 2011       |   |       | 140.0 |
| 2012       |   |       | 940.0 |
| Thereafter |   |       | 22,465.0 |
| Total      |   | $          | 23,965.2 |

| 7. | Derivatives and Other Financial      Instruments: |
|----|---------------------------------------------------|

|                                              |   | (Successor) |          |   | (Predecessor) |
|---------------------------------------------------|--------|-------------|---------------|--------|---------------|
|                                              |   | 2007        |          |   | 2006          |
|                                              |   | Fair        |          |   | Carrying      |   |   | Fair |   |   | Carrying |
| (Millions)                                        |   | Value       |          |   | Amount        |   |   | Value |   |   | Amount |
| Investments                                       |   | $           | 536.1         |   |          | $ | 536.1 |   |   | $ | 368.9 |   |   | $ | 368.9 |
| Long-term      debt, including current maturities |   | $           | 22,308.0      |   |          | $ | 23,514.8 |   |   | $ | 2,764.7 |   |   | $ | 2,733.7 |
| Interest      rate swaps                          |   | $           | (9.3          | )      |          | $ | (9.3 | ) |   | $ | 14.9 |   |   | $ | 14.9 |
| Redeemable      preferred stock                   |   | $           |   - |   |          | $ |  - |   |   | $ | 10.8 |   |   | $ |  0.7 |

----

Index to Financial Supplement 

| 7. | Derivatives and Other Financial      Instruments, Continued: |
|----|--------------------------------------------------------------|

| 8. | Supplemental Cash Flow      Information From ContinuingOperations: |
|----|--------------------------------------------------------------------|

|                                                          |   | Successor               |    |   | Predecessor           |   |
|---------------------------------------------------------------|--------|-------------------------|---------|--------|-----------------------|--------|
|                                                          |   | November 16 - |    |   | January 1      - |   |   | Year      Ended |   |   | Year      Ended |   |
|                                                          |   | December 31,       |    |   | November 15,     |   |   | December 31, |   |   | December 31, |   |
| (Millions)                                                    |   | 2007                    |    |   | 2007                  |   |   | 2006 |   |   | 2005 |   |
| Interest      paid, net of amounts capitalized                |   | $                       | 107.0   |   |                  | $      | 182.8 |   |   | $ | 287.7 |   |   | $ | 357.1 |   |
| Income      taxes paid                                        |   | $                       | 40.1    |   |                  | $      | 171.6 |   |   | $ | 949.0 |   |   | $ | 562.2 |   |
| Non-cash      investing and financing activities:             |   |                    |    |   |                  |   |   |   |   |   |   |   |   |   |   |   |
| Change      in fair value of investments in equity securities |   | $                       |  - |   |                  | $      | (1.1 | ) |   | $ | 23.4 |   |   | $ | (126.7 | ) |
| Change      in fair value of foreign currency contracts       |   | $                       |  - |   |                  | $      |  - |   |   | $ |  - |   |   | $ |  25.0 |   |
| Change      in fair value of interest rate swaps              |   | $                       | (9.3    | )      |                  | $      | 20.2 |   |   | $ | (13.7 | ) |   | $ | (37.5 | ) |
| Management      equity rollover in connection with the Merger |   | $                       | 33.1    |   |                  | $      |  - |   |   | $ |  - |   |   | $ |  - |   |

| 9. | Stock-BasedCompensation      Plans: |
|----|-------------------------------------|

|                                                                                                                                          |   | Successor               |     |   | Predecessor       |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------|----------|--------|-------------------|--------|
|                                                                                                                                          |   | November      16 - |     |   | January      1 -  |   |   | Year      Ended |   |   | Year      Ended |   |
|                                                                                                                                          |   | December      31,       |     |   | November      15, |   |   | December      31, |   |   | December    31, |   |
| (Millions)                                                                                                                                    |   | 2007                    |     |   | 2007              |   |   | 2006 |   |   | 2005 |   |
| Compensation      expense – stock options issued by Alltel                                                                              |   | $                       | 1.2      |   |              | $      | 62.2 |   |   | $ | 19.3 |   |   | $ | - |   |
| Compensation      expense – stock options converted to Alltel stock options in connection      with the acquisition of Western Wireless |   |                    |   - |   |              |   |   1.7 |   |   |   |   2.0 |   |   |   |   0.6 |   |
| Compensation      expense – restricted stock awards                                                                                     |   |                    | -        |   |              |   | 28.3 |   |   |   | 16.2 |   |   |   | 6.1 |   |
| Compensation      expense before income taxes                                                                                                 |   |                    | 1.2      |   |              |   | 92.2 |   |   |   | 37.5 |   |   |   | 6.7 |   |
| Income      tax benefit                                                                                                                       |   |                    | (0.5     | )      |              |   | (28.9 | ) |   |   | (12.1 | ) |   |   | (2.5 | ) |
| Compensation      expense, net of tax                                                                                                         |   | $                       | 0.7      |   |              | $      | 63.3 |   |   | $ | 25.4 |   |   | $ | 4.2 |   |

----

Index to Financial Supplement 

| 9. | Stock-BasedCompensation Plans,      Continued: |
|----|------------------------------------------------|

| Expected      life           |   | 5.0      years |
|------------------------------|--------|----------------|
| Expected      volatility     |   |           | 23.5% |
| Dividend      yield          |   |           | 0.0% |
| Risk-free      interest rate |   |           | 3.7% |

----

Index to Financial Supplement 

| 9. | Stock-BasedCompensation Plans,      Continued: |
|----|------------------------------------------------|

|                                                       |   |           |     |   |                |   | Weighted    |
|------------------------------------------------------------|--------|----------------|----------|--------|---------------------|--------|-------------|
|                                                       |   |           |     |   | Weighted            |   | Average     |
|                                                       |   | (Thousands)    |     |   | Average             |   | Remaining   |
|                                                       |   | Number      of |     |   | Exercise      Price |   | Contractual |
|                                                       |   | Shares         |     |   | Per      Share      |   | Life        |
| Rolled      over in connection with the merger – new |   |           | 8,000.0  |   |                | $      | 2.50        |   | 6.9      years |
| Granted                                                    |   |           | 25,590.0 |   |                |   | 10.00       |   | 9.9 years |
| Outstanding      at December 31, 2007                      |   |           | 33,590.0 |   |                | $      | 8.21        |   | 9.2      years |
| Exercisable      at December 31, 2007                      |   |           | 8,000.0  |   |                | $      | 2.50        |   |   |

----

Index to Financial Supplement 

| 9. | Stock-BasedCompensation Plans,      Continued: |
|----|------------------------------------------------|

|                                        |   | January 1      - |   |   | Year      Ended   |   |   | Year      Ended   |
|---------------------------------------------|--------|-----------------------|--------|--------|-------------------|--------|--------|-------------------|
|                                        |   | November 15,     |   |   | December 31, |   |   | December 31, |
|                                        |   | 2007                  |   |   | 2006              |   |   | 2005              |
| Weighted      average grant date fair value |   |                  | $17.41 |   |              |   | $15.18 |              |   |   | $13.30 |
| Expected      life                          |   | 5.9      years        |   |   | 5.9      years    |   |   | 5.0      years    |
| Expected      volatility                    |   |                  | 20.9%  |   |              |   | 22.9%  |              |   |   | 27.4% |
| Dividend      yield                         |   |                  | 0.8%   |   |              |   | 0.8%   |              |   |   | 2.7% |
| Risk-free      interest rate                |   |                  | 4.7%   |   |              |   | 4.5%   |              |   |   | 3.7% |

----

Index to Financial Supplement 

| 9. | Stock-BasedCompensation Plans,      Continued: |
|----|------------------------------------------------|

|                                                            |   | (Thousands)    |         |   | Weighted           |
|-----------------------------------------------------------------|--------|----------------|--------------|--------|--------------------|
|                                                            |   | Number      of |         |   | Average      Price |
|                                                            |   | Shares         |         |   | Per      Share     |
| Outstanding      at January 1, 2005                             |   |           | 15,922.3     |   |               | $ | 55.56 |
| Granted                                                         |   |           | 1,409.3      |   |               |   | 55.53 |
| Converted      from Western Wireless due to merger              |   |           | 2,889.5      |   |               |   | 28.61 |
| Exercised                                                       |   |           | (2,321.2     | )      |               |   | 33.90 |
| Forfeited                                                       |   |           |  (576.6 | )      |               |   | 56.72 |
| Expired                                                         |   |           |  (6.8   | )      |               |   | 8.92 |
| Outstanding      at December 31, 2005                           |   |           | 17,316.5     |   |               | $ | 53.94 |
| Granted                                                         |   |           | 1,357.1      |   |               |   | 63.25 |
| Exercised                                                       |   |           | (2,207.8     | )      |               |   | 40.12 |
| Forfeited                                                       |   |           |  (96.0  | )      |               |   | 58.93 |
| Expired                                                         |   |           |  (13.8  | )      |               |   | 31.83 |
| Outstanding      immediately prior to the spin-off              |   |           | 16,356.0     |   |               | $ | 56.57 |
| Adjustment      in shares resulting from spin-off               |   |           | 3,631.0      |   |               |   | - |
| Granted                                                         |   |           | 10.0         |   |               |   | 57.46 |
| Exercised                                                       |   |           | (2,928.3     | )      |               |   | 44.74 |
| Forfeited                                                       |   |           |  (892.5 | )      |               |   | 42.69 |
| Outstanding      at December 31, 2006                           |   |           | 16,176.2     |   |               | $ | 46.78 |
| Granted                                                         |   |           | 1,601.4      |   |               |   | 61.66 |
| Exercised                                                       |   |           | (2,670.0     | )      |               |   | 37.48 |
| Forfeited                                                       |   |           | (133.5       | )      |               |   | 45.93 |
| Expired                                                         |   |           |  (1.2   | )      |               |   | 26.18 |
| Outstanding      immediately prior to the Merger                |   |           | 14,972.9     |   |               | $ | 50.04 |
| Settlement      of awards in connection with the Merger         |   |           | (12,104.9    | )      |               |   | 49.91 |
| Rolled      over in connection with the Merger – existing |   |           | (2,868.0     | )      |               |   | 50.58 |
| Outstanding      at November 15, 2007                           |   |           | -            |   |               | $ |  - |

|                                                         |   | (Thousands)    |              |   | Weighted           |
|--------------------------------------------------------------|--------|----------------|-------------------|--------|--------------------|
|                                                         |   | Number      of |              |   | Average      Price |
|                                                         |   | Shares         |              |   | Per      Share     |
| Non-vested      at December 31, 2006                         |   |           | 4,391.9           |   |               | $ | 45.89 |
| Granted                                                      |   |           | 1,601.4           |   |               |   | 61.66 |
| Vested                                                       |   |           | (1,677.7          | )      |               |   | 44.60 |
| Forfeited                                                    |   |           |   (79.4 | )      |               |   | 47.76 |
| Non-vested      immediately prior to the merger              |   |           | 4,236.2           |   |               |   | 52.33 |
| Adjustment      to vest shares in connection with the Merger |   |           | (4,236.2          | )      |               |   | 52.33 |
| Non-vested      at November 15, 2007                         |   |           | -                 |   |               | $ | - |

----

Index to Financial Supplement

| 9. | Stock-BasedCompensation Plans,      Continued: |
|----|------------------------------------------------|

|                                                         |   |           |     |   | Weighted        |
|--------------------------------------------------------------|--------|----------------|----------|--------|-----------------|
|                                                         |   |           |     |   | Average         |
|                                                         |   | Number      of |     |   | Fair      Value |
|                                                         |   | Shares         |     |   | Per      Share  |
| Non-vested      at December 31, 2006                         |   |           | 487,552  |   |            | $ | 58.37 |
| Granted                                                      |   |           | 255,520  |   |            |   | 60.64 |
| Vested                                                       |   |           | (128,607 | )      |            |   | 57.58 |
| Forfeited                                                    |   |           | (3,833   | )      |            |   | 53.18 |
| Non-vested      immediately prior to the Merger              |   |           | 610,632  |   |            |   | 59.52 |
| Adjustment      to vest shares in connection with the Merger |   |           | (610,632 | )      |            |   | 59.52 |
| Non-vested      at November 15, 2007                         |   |           | -        |   |            | $ |  - |

----

Index to Financial Supplement 

| 10. | Employee      Benefit Plans: |
|-----|------------------------------|

|                                                       | Successor               |   |   | Predecessor                        |
|------------------------------------------------------------|-------------------------|--------|--------|------------------------------------|
|                                                       | November 16 - |   |   | January 1      -              |   | Year      Ended |   | Year      Ended |
|                                                       | December 31,       |   |   | November 15,                  |   | December 31, |   | December 31, |
| (Millions)                                                 | 2007                    |   |   | 2007                               |   | 2006 |   | 2005 |
| Benefits      earned during the period                     | $      1.0              |   |   | $     9.6 |   | $      16.4 |   | $      36.2 |
| Interest      cost on benefit obligation                   | 2.5                     |   |   | 11.2                               |   | 35.2 |   | 56.3 |
| Amortization      of prior service cost                    | -                       |   |   | 0.9                                |   | 1.0 |   | 0.5 |
| Recognized      net actuarial loss                         | -                       |   |   | 4.3                                |   | 17.2 |   | 30.5 |
| Special      termination benefits                          | -                       |   |   | -                                  |   | 9.1 |   | - |
| Losses      (gains) from plan settlements and curtailments | (0.1                    | )      |   | 118.6                              |   | 3.6 |   | 2.5 |
| Expected      return on plan assets                        |   (2.0        | )      |   |     (12.6      | ) |   (48.6 | ) |   (82.9 |
| Net      periodic benefit expense                          | $      1.4              |   |   | $      132.0                       |   | $      33.9 |   | $      43.1 |

|                                |   | Successor               |   |   | Predecessor           |
|-------------------------------------|--------|-------------------------|--------|--------|-----------------------|
|                                |   | November 16 - |   |   | January 1      - |   |   | Year      Ended |   |   |   | Year      Ended |
|                                |   | December 31,       |   |   | November 15,     |   |   | December 31, |   |   |   | December 31, |
|                                |   | 2007                    |   |   | 2007                  |   |   | 2006 |   |   |   | 2005 |
| Discount      rate                  |   |                    | 6.31%  |   |                  |   | 5.94% |   |   |   | 6.12% |   | (a) |   |   | 6.00% |
| Expected      return on plan assets |   |                    | 8.50%  |   |                  |   | 8.50% |   |   |   | 8.50% |   |   |   |   | 8.50% |
| Rate      of compensation increase  |   |                    | 3.50%  |   |                  |   | 3.50% |   |   |   | 3.50% |   |   |   |   | 3.50% |

|   | (a) | Reflects      weighted average discount rate.  Expense for the period January      1, 2006 to June 30, 2006 calculated using discount rate of      5.80%.  Expense for the period July 1, 2006 to December 31, 2006      calculated using discount rate of6.43%. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

Index to Financial Supplement 

| 10. | Employee      Benefit Plans, Continued: |
|-----|-----------------------------------------|

|                                                                         |   | Successor |          |   | Predecessor |   |
|------------------------------------------------------------------------------|--------|-----------|---------------|--------|-------------|--------|
| (Millions)                                                                   |   | 2007      |          |   | 2006        |   |
| Fair      value of plan assets at beginning of year                          |   | $         | 171.6         |   |        | $      | 1,013.1 |   |
| Employer      contributions                                                  |   |      | 30.9          |   |        |   | 20.2 |   |
| Transfer      to Windstream due to spin-off of wireline business             |   |      | (0.4          | )      |        |   | (851.2 | ) |
| Settlements                                                                  |   |      | (27.9         | )      |        |   | (16.9 | ) |
| Actual      return on plan assets                                            |   |      | 11.5          |   |        |   | 38.2 |   |
| Benefits      paid                                                           |   |      | (6.5          | )      |        |   | (31.8 | ) |
| Fair      value of plan assets at end of year                                |   | $         | 179.2         |   |        | $      | 171.6 |   |
| Projected      benefit obligation at beginning of year                       |   | $         | 217.5         |   |        | $      | 1,055.9 |   |
| Benefits      earned                                                         |   |      | 10.6          |   |        |   | 16.4 |   |
| Interest      cost on projected benefit obligation                           |   |      | 13.7          |   |        |   | 35.2 |   |
| Special      termination benefits                                            |   |      | -             |   |        |   | 9.1 |   |
| Plan      amendments                                                         |   |      | 112.0         |   |        |   | 3.2 |   |
| Plan      settlements and curtailments                                       |   |      | (27.9         | )      |        |   | (16.9 | ) |
| Transfer      to Windstream due to spin-off of wireline business             |   |      | -             |   |        |   | (790.9 | ) |
| Actuarial      gain                                                          |   |      | (16.8         | )      |        |   | (62.7 | ) |
| Benefits      paid                                                           |   |      | (6.5          | )      |        |   | (31.8 | ) |
| Projected      benefit obligation at end of year                             |   | $         | 302.6         |   |        | $      | 217.5 |   |
| Funded      status – plan assets less than projected benefitobligation |   | $         | (123.4        | )      |        | $      | (45.9 | ) |
| Amounts      recognized in the consolidated balance sheet:                   |   |      |          |   |        |   |   |   |
| Noncurrent      assets                                                       |   | $         |  31.2    |   |        | $      | 20.3 |   |
| Current      liabilities                                                     |   |      | (145.7        | )      |        |   | (3.4 | ) |
| Noncurrent      liabilities                                                  |   |      | (8.9          | )      |        |   | (62.8 | ) |
|                                                                         |   | $         | (123.4        | )      |        | $      | (45.9 | ) |
| Amounts      recognized in accumulated other comprehensive income    (loss): |   |      |          |   |        |   |   |   |
| Prior      service cost                                                      |   | $         |   - |   |        | $      | (7.6 | ) |
| Net      actuarial loss                                                      |   |      | (0.8          | )      |        |   | (34.6 | ) |
|                                                                         |   | $         | (0.8          | )      |        | $      | (42.2 | ) |

|                                |   | Successor |   |   | Predecessor |
|-------------------------------------|--------|-----------|--------|--------|-------------|
| (Millions)                          |   | 2007      |   |   | 2006        |
| Discount      rate                  |   |      | 6.55%  |   |        |   | 5.94% |
| Expected      return on plan assets |   |      | 8.50%  |   |        |   | 8.50% |
| Rate      of compensation increase  |   |      | 3.50%  |   |        |   | 3.50% |

----

Index to Financial Supplement 

| 10. | Employee      Benefit Plans, Continued: |
|-----|-----------------------------------------|

|                                                               |   |       |                        |   | Percentage      of Plan Assets |
|--------------------------------------------------------------------|--------|------------|-----------------------------|--------|--------------------------------|
|                                                               |   | Target     |                        |   | At      December 31:           |
|                                                               |   | Allocation |                        |   | Successor                      |   |   | Predecessor |
| Asset      Category                                                |   | 2008       |                        |   | 2007                           |   |   | 2006 |
| Equity      securities                                             |   |       | 62.5%      – 77.5%    |   |                           |   | 72.4% |   |   |   | 72.3% |
| Fixed      income securities                                       |   |       | 15.0%      – 35.0%    |   |                           |   | 25.9% |   |   |   | 25.3% |
| Money      market and other short-term interest bearing securities |   |       | 0.0%      – 7.5% |   |                           |   |  1.7% |   |   |   |  2.4% |
|                                                               |   |       |                        |   |                           |   | 100.0% |   |   |   | 100.0% |

|                                          |   | Pension  |
|-----------------------------------------------|--------|----------|
| (Millions)                                    |   | Benefits |
| Expected      employer contributions for 2008 |   | $        | 148.9 |
| Expected      benefit payments:               |   |     |   |
| 2008                                          |   | $        | 148.9 |
| 2009                                          |   |     | 4.3 |
| 2010                                          |   |     | 4.7 |
| 2011                                          |   |     | 5.0 |
| 2012                                          |   |     | 5.5 |
| 2013      – 2017                        |   |     | 39.7 |

----

Index to Financial Supplement 

| 10. | Employee      Benefit Plans, Continued: |
|-----|-----------------------------------------|

| 11. | Integration      Expenses, Restructuring and OtherCharges: |
|-----|------------------------------------------------------------|

| (Millions)                                                       |   |   |
|------------------------------------------------------------------|--------|--------|
| Merger-related      expenses                                     |   | $      | 5.2 |
| Total      integration expenses, restructuring and other charges |   | $      | 5.2 |

|                                                             |   | First   |   |   | Second  |   |   | Third   |   |   | Oct.      1 - |   |   |   |
|------------------------------------------------------------------|--------|---------|--------|--------|---------|--------|--------|---------|--------|--------|---------------|--------|--------|--------|
| (Millions)                                                       |   | Quarter |   |   | Quarter |   |   | Quarter |   |   | Nov.      15  |   |   | Total  |
| Severance      and employee benefit costs                        |   | $       | 3.7    |   |    | $      | 0.7    |    |   | $      | 0.3           |   |   | $      | (0.2 | ) |   | $ | 4.5 |
| Rebranding      and signage costs                                |   |    | 0.1    |   |    |   | 0.3    |    |   |   | 3.9           |   |   |   | 1.1 |   |   |   | 5.4 |
| Computer      system conversion and other integration expenses   |   |    | 2.5    |   |    |   | 1.9    |    |   |   | 1.7           |   |   |   | 0.5 |   |   |   | 6.6 |
| Lease      termination costs                                     |   |    | -      |   |    |   | -      |    |   |   | 2.6           |   |   |   | - |   |   |   | 2.6 |
| Merger-related      expenses                                     |   |    | -      |   |    |   | 33.1   |    |   |   | 2.5           |   |   |   | 612.3 |   |   |   | 647.9 |
| Total      integration expenses, restructuring and other charges |   | $       | 6.3    |   |    | $      | 36.0   |    |   | $      | 11.0          |   |   | $      | 613.7 |   |   | $ | 667.0 |

----

Index to Financial Supplement 

| 11. | Integration      Expenses, Restructuring and Other Charges,  Continued: |
|-----|-------------------------------------------------------------------------|

| (Millions)                                                       |   |   |
|------------------------------------------------------------------|--------|--------|
| Rebranding      and signage costs                                |   | $      | 9.3 |
| Computer      system conversion and other integration expenses   |   |   | 4.4 |
| Total      integration expenses, restructuring and other charges |   | $      | 13.7 |

| (Millions)                                                       |   |   |
|------------------------------------------------------------------|--------|--------|
| Computer      system conversion and other integration expenses   |   | $      | 22.3 |
| Relocation      costs                                            |   |   | 0.7 |
| Total      integration expenses, restructuring and other charges |   | $      | 23.0 |

----

Index to Financial Supplement 

| 11. | Integration      Expenses, Restructuring and Other Charges,  Continued: |
|-----|-------------------------------------------------------------------------|

| (Millions)                                                                                 |   |
|--------------------------------------------------------------------------------------------|--------|
| Predecessor:                                                                               |   |   |   |
| Balance      at December 31, 2005                                                          |   | $ | 0.2 |   |
| Integration      expenses, restructuring and other charges recorded during the      period |   |   | 13.7 |   |
| Cash      outlays during the period                                                        |   |   | (13.8 | ) |
| Balance      at December 31, 2006                                                          |   |   | 0.1 |   |
| Integration      expenses, restructuring and other charges recorded during the      period |   |   | 667.0 |   |
| Cash      outlays during the period                                                        |   |   | (106.5 | ) |
| Other      adjustments                                                                     |   |   | (6.0 | ) |
| Balance      at November 15, 2007                                                          |   | $ | 554.6 |   |
| Successor:                                                                                 |   |   |   |   |
| Balance      at November 16, 2007                                                          |   | $ | 554.6 |   |
| Integration      expenses, restructuring and other charges recorded during the      period |   |   | 5.2 |   |
| Cash      outlays during the period                                                        |   |   | (377.5 | ) |
| Balance      at December 31, 2007                                                          |   | $ | 182.3 |   |

| 12. | Investments      – Special Cash Dividend: |
|-----|-------------------------------------------------|

| 13. | Gain      on Exchange or Disposal of Assets andOther: |
|-----|-------------------------------------------------------|

----

Index to Financial Supplement 

| 13. | Gain      on Exchange or Disposal of Assets and Other,  Continued: |
|-----|--------------------------------------------------------------------|

| 14. | Income      Taxes: |
|-----|--------------------|

|       |   | Successor               |   |   | Predecessor           |
|------------|--------|-------------------------|--------|--------|-----------------------|
|       |   | November 16 - |   |   | January 1      - |   |   | Year      Ended |   |   | Year      Ended |
|       |   | December 31,       |   |   | November 15,     |   |   | December 31, |   |   | December 31, |
| (Millions) |   | 2007                    |   |   | 2007                  |   |   | 2006 |   |   | 2005 |
| Current:   |   |                    |   |   |                  |   |   |   |   |   |   |
| Federal    |   | $                       | (13.0  | )      |                  | $ | 277.2 |   |   | $ | 280.6 |   |   | $ | 301.3 |
| State      |   |                    | (4.5   | )      |                  |   | 28.8 |   |   |   | 77.6 |   |   |   | 24.3 |
|       |   |                    | (17.5  | )      |                  |   | 306.0 |   |   |   | 358.2 |   |   |   | 325.6 |
| Deferred:  |   |                    |   |   |                  |   |   |   |   |   |   |   |   |   |   |
| Federal    |   |                    | (41.1  | )      |                  |   | 39.7 |   |   |   | 113.1 |   |   |   | 85.1 |
| State      |   |                    | (5.9   | )      |                  |   | 25.8 |   |   |   | 3.7 |   |   |   | 13.8 |
|       |   |                    | (47.0  | )      |                  |   | 65.5 |   |   |   | 116.8 |   |   |   | 98.9 |
|       |   | $                       | (64.5  | )      |                  | $ | 371.5 |   |   | $ | 475.0 |   |   | $ | 424.5 |

----

Index to Financial Supplement 

| 14. | Income      Taxes, Continued: |
|-----|-------------------------------|

|                                                                      |   | Successor          |   |   | Predecessor       |   |
|---------------------------------------------------------------------------|--------|--------------------|--------|--------|-------------------|--------|
|                                                                      |   | November      16 - |   |   | January      1 -  |   |   | Year      Ended |   |   | Year      Ended |   |
|                                                                      |   | December      31,  |   |   | November 15, |   |   | December      31, |   |   | December    31, |   |
|                                                                      |   | 2007               |   |   | 2007              |   |   | 2006 |   |   | 2005 |   |
| Statutory      federal income tax rates                                   |   |               | 35.0   | %      |              |   | 35.0 | % |   |   | 35.0 | % |   |   | 35.0 | % |
| Increase      (decrease):                                                 |   |               |   |   |              |   |   |   |   |   |   |   |   |   |   |   |
| State      income taxes, net of federal benefit                           |   |               | 4.0    |   |              |   | 5.4 |   |   |   | 4.1 |   |   |   | 2.1 |   |
| Adjustments      to income tax liabilities including contingency reserves |   |               | -      |   |              |   | (2.7 | ) |   |   | (2.2 | ) |   |   | (0.7 | ) |
| Tax      exempt interest income                                           |   |               | -      |   |              |   | (0.5 | ) |   |   | (1.2 | ) |   |   | (0.3 | ) |
| Non-deductible      costs associated with the acquisition of Alltel       |   |               | -      |   |              |   | 18.6 |   |   |   | - |   |   |   | - |   |
| Non-deductible      loss on debt exchange                                 |   |               | -      |   |              |   | - |   |   |   | 0.7 |   |   |   | - |   |
| Other      items, net                                                     |   |               | (0.7   | )      |              |   | 0.5 |   |   |   | 0.2 |   |   |   | 0.5 |   |
| Effective      income tax rates                                           |   |               | 38.3   | %      |              |   | 56.3 | % |   |   | 36.6 | % |   |   | 36.6 | % |

----

Index to Financial Supplement 

| 14. | Income      Taxes, Continued: |
|-----|-------------------------------|

| (Millions)                                                        |   |
|-------------------------------------------------------------------|--------|
| Predecessor:                                                      |   |   |   |
| Balance      at January 1, 2007                                   |   | $ | 93.7 |   |
| Additions      based on tax positions related to the current year |   |   | 28.3 |   |
| Reductions      related to tax positions of prior years           |   |   | (16.3 | ) |
| Reductions      for settlements and payments                      |   |   | (2.6 | ) |
| Reductions      due to statute expiration                         |   |   | (32.2 | ) |
| Balance      at November 15, 2007                                 |   | $ | 70.9 |   |
| Successor:                                                        |   |   |   |   |
| Balance      at November 16, 2007                                 |   | $ | 70.9 |   |
| Additions      based on tax positions related to the current year |   |   | - |   |
| Reductions      related to tax positions of prior years           |   |   | - |   |
| Reductions      for settlements and payments                      |   |   | - |   |
| Reductions      due to statute expiration                         |   |   | (3.5 | ) |
| Balance      at December 31, 2007                                 |   | $ | 67.4 |   |

----

Index to Financial Supplement 

| 14. | Income      Taxes, Continued: |
|-----|-------------------------------|

|                                                                                       | Successor                                            |   |   | Predecessor                                              |   |
|--------------------------------------------------------------------------------------------|------------------------------------------------------|--------|--------|----------------------------------------------------------|--------|
| (Millions)                                                                                 | 2007                                                 |   |   | 2006                                                     |   |
| Deferred      tax assets:                                                                  |                                                 |   |   |                                                     |   |
| Intangible      asset                                                                      | $   (781.5                            | )      |   | $         - |   |
| Operating      loss carryforwards                                                          | (28.4                                                | )      |   | (28.1                                                    | )      |
| Deferred      financing costs                                                              | (24.8                                                | )      |   | -                                                        |   |
| Allowance      for doubtful accounts                                                       | (21.2                                                | )      |   | (8.1                                                     | )      |
| Partnership      investments                                                               | -                                                    |   |   | (29.9                                                    | )      |
| Deferred      compensation                                                                 | (1.8                                                 | )      |   | (32.4                                                    | )      |
| Pension      and other employee benefits                                                   | (7.3                                                 | )      |   | (16.1                                                    | )      |
| Other                                                                                      |       (62.2            | )      |   |       (37.0                | )      |
|                                                                                       | (927.2                                               | )      |   | (151.6                                                   | )      |
| Valuation      allowance                                                                   |        16.8       |   |   |        18.8           |   |
| Total      deferred tax assets                                                             |     (910.4                       | )      |   |     (132.8                           | )      |
| Deferred      tax liabilities:                                                             |                                                 |   |   |                                                     |   |
| Goodwill      and other intangibles                                                        | 2,305.8                                              |   |   | 740.9                                                    |   |
| Property,      plant and equipment                                                         | 641.8                                                |   |   | 398.6                                                    |   |
| Discount      on long-term debt                                                            | 175.4                                                |   |   | -                                                        |   |
| Partnership      investments                                                               | 127.5                                                |   |   | -                                                        |   |
| Deferred      tower rental income                                                          | 117.5                                                |   |   | -                                                        |   |
| Capitalized      software development costs                                                | 31.1                                                 |   |   | 33.3                                                     |   |
| Unrealized      holding gain on investments                                                | -                                                    |   |   | 32.2                                                     |   |
| Other                                                                                      |         12.2 |   |   |         13.1     |   |
| Total      deferred tax liabilities                                                        |    3,411.3                            |   |   |    1,218.1                                |   |
| Net      deferred income tax liability                                                     | $      2,500.9                                       |   |   | $      1,085.3                                           |   |
| Noncurrent      deferred income tax liabilities                                            | $      2,542.7                                       |   |   | $      1,109.5                                           |   |
| Less      current deferred income tax assets (included in Prepaid expenses and      other) |       (41.8            | )      |   |       (24.2                | )      |
| Net      deferred income tax liability                                                     | $      2,500.9                                       |   |   | $      1,085.3                                           |   |

----

Index to Financial Supplement 

| 15. | Discontinued      Operations: |
|-----|-------------------------------|

----

Index to Financial Supplement 

| 15. | Discontinued      Operations, Continued: |
|-----|------------------------------------------|

|                                            |   | Successor               |   |   | Predecessor           |   |
|-------------------------------------------------|--------|-------------------------|--------|--------|-----------------------|--------|
|                                            |   | November 16 - |   |   | January 1      - |   |   | Year      Ended |   |   | Year      Ended |   |
|                                            |   | December 31,       |   |   | November 15,     |   |   | December 31, |   |   | December 31, |   |
| (Millions)                                      |   | 2007                    |   |   | 2007                  |   |   | 2006 |   |   | 2005 |   |
| Revenues      and sales                         |   | $                       | 0.4    |   |                  | $      | 7.8 |   |   | $ | 1,839.3 |   |   | $ | 3,369.8 |   |
| Operating      expenses (a)                     |   |                    | 0.6    |   |                  |   | 14.1 |   |   |   | 1,290.5 |   |   |   | 2,325.4 |   |
| Operating      income (loss)                    |   |                    | (0.2   | )      |                  |   | (6.3 | ) |   |   | 548.8 |   |   |   | 1,044.4 |   |
| Minority      interest in consolidated entities |   |                    | -      |   |                  |   | - |   |   |   | (6.0 | ) |   |   | (5.9 | ) |
| Other      income (expense), net                |   |                    | (0.1   | )      |                  |   | 1.4 |   |   |   | 0.9 |   |   |   | 11.6 |   |
| Interest      expense (b)                       |   |                    | -      |   |                  |   | - |   |   |   | (9.1 | ) |   |   | (19.4 | ) |
| Loss      on sale of discontinued operations    |   |                    | -      |   |                  |   | (0.2 | ) |   |   | (14.8 | ) |   |   | - |   |
| Income      (loss) before income taxes          |   |                    | (0.3   | )      |                  |   | (5.1 | ) |   |   | 519.8 |   |   |   | 1,030.7 |   |
| Income      tax expense (benefit) (c)           |   |                    | (0.9   | )      |                  |   | (3.6 | ) |   |   | 214.1 |   |   |   | 427.4 |   |
| Income      (loss) from discontinued operations |   | $                       | 0.6    |   |                  | $      | (1.5 | ) |   | $ | 305.7 |   |   | $ | 603.3 |   |

----

Index to Financial Supplement 

| 15. | Discontinued      Operations, Continued: |
|-----|------------------------------------------|

|   | (a) | Operating      expenses for the Predecessor period January 1, 2007 to November 15, 2007      included impairment charges totaling $4.7 million to reflect the fair      value less cost to sell of the properties identified for disposition in      the fourth quarter in 2007 and the third quarter of 2006 and resulted in      write-downs in the carrying values of goodwill and customer list allocated      to these properties.  Operating expenses for 2006 included an      impairment charge of $30.5 million to reflect the fair value less cost to      sell of the four rural markets in Minnesota required to be divested, and      resulted in the write-down in the carrying values of goodwill ($25.9      million) and customer list ($4.6 million) allocated to these      markets.  Operating expenses also exclude general corporate      overhead expenses previously allocated to the wireline business in      accordance with Emerging Issues Task Force Issue No. 87-24, “Allocation of      Interest Expense to Discontinued Operations”.  The amount of      corporate overhead expenses added back to Alltel’s continuing operations      totaled $7.0 million in 2006 and $42.1 million in  2005. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | Except      for $260.8 million of long-term debt directly related to the wireline      business that was transferred to Windstream and a $50.0 million credit      facility agreement that was assumed by the buyer of the Bolivian      operations, Alltel had no outstanding indebtedness directly related to the      wireline business, the international operations or the domestic markets to      be divested, and accordingly, no additional interest expense was allocated      to discontinued operations for the periods  presented. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | Income      taxes for the Predecessor period January 1, 2007 to November 15, 2007      included an income tax benefit recorded in 2007 of $3.0 million resulting      from a change in the estimate of tax benefits associated with transaction      costs incurred in connection with the wireline spin-off and the reversal      of income tax contingency reserves applicable to the sold financial      services division due to the expiration of certain state statutes of      limitation.  Includes an income tax benefit recorded in 2006 due      to the reversal of $7.6 million of income tax contingency reserves      attributable to the spun-off wireline business and sold financial services      division. (See Note 14 for a further discussion of the reversal of income      tax contingency reserves recorded in 2007 and  2006). |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                                                      |   | Successor |   |   | Predecessor |
|-----------------------------------------------------------|--------|-----------|--------|--------|-------------|
| (Millions)                                                |   | 2007      |   |   | 2006        |
| Current      assets                                       |   | $         | 0.3    |   |        | $ | 4.3 |
| Property,      plant and equipment, net                   |   |      | 2.9    |   |        |   | 19.6 |
| Goodwill      and other intangible assets (a) (b)         |   |      | 4.1    |   |        |   | 25.9 |
| Non-current      assets                                   |   |      | 7.0    |   |        |   | 45.5 |
| Total      assets related to discontinued operations      |   | $         | 7.3    |   |        | $ | 49.8 |
| Current      liabilities                                  |   | $         | 0.2    |   |        | $ | 2.8 |
| Total      liabilities related to discontinued operations |   | $         | 0.2    |   |        | $ | 2.8 |

|   | (a) | At      December 31, 2007, this amount consisted of cellular licenses ($3.0      million) and customer list ($1.1 million) related to the properties      to be sold. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | At      December 31, 2006, this amount consisted of goodwill ($3.7 million),      cellular licenses ($21.5 million) and customer list ($0.7 million) related      to the four Minnesota markets required to be  divested. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

Index to Financial Supplement 

| 16. | Other      Comprehensive Income (Loss): |
|-----|-----------------------------------------|

|                                                                                            |   | Successor               |   |   | Predecessor           |   |
|-------------------------------------------------------------------------------------------------|--------|-------------------------|--------|--------|-----------------------|--------|
|                                                                                            |   | November 16 - |   |   | January 1      - |   |   | Year      Ended |   |   | Year      Ended |   |
|                                                                                            |   | December 31,       |   |   | November 15,     |   |   | December 31, |   |   | December 31, |   |
| (Millions)                                                                                      |   | 2007                    |   |   | 2007                  |   |   | 2006 |   |   | 2005 |   |
| Unrealized      losses on hedging activities:                                                   |   |                    |   |   |                  |   |   |   |   |   |   |   |
| Unrealized      losses arising in the period                                                    |   | $                       | (9.3   | )      |                  | $      | - |   |   | $ | - |   |   | $ | - |   |
| Income      tax benefit                                                                         |   |                    | (3.6   | )      |                  |   | - |   |   |   | - |   |   |   | - |   |
|                                                                                            |   |                    | (5.7   | )      |                  |   | - |   |   |   | - |   |   |   | - |   |
| Unrealized      holding gains (losses) on investments:                                          |   |                    |   |   |                  |   |   |   |   |   |   |   |   |   |   |   |
| Unrealized      holding gains (losses) arising in the period                                    |   |                    | -      |   |                  |   | (1.1 | ) |   |   | 23.4 |   |   |   | (126.7 | ) |
| Income      tax expense (benefit)                                                               |   |                    | -      |   |                  |   | (0.4 | ) |   |   | 8.2 |   |   |   | (44.4 | ) |
|                                                                                            |   |                    | -      |   |                  |   | (0.7 | ) |   |   | 15.2 |   |   |   | (82.3 | ) |
| Reclassification      adjustments for (gains) losses included in net income for the      period |   |                    | -      |   |                  |   | (56.5 | ) |   |   | - |   |   |   | (75.8 | ) |
| Income      tax expense (benefit)                                                               |   |                    | -      |   |                  |   | 19.7 |   |   |   | - |   |   |   | 26.5 |   |
|                                                                                            |   |                    | -      |   |                  |   | (36.8 | ) |   |   | - |   |   |   | (49.3 | ) |
| Net      unrealized gains (losses) in the period                                                |   |                    | -      |   |                  |   | (57.6 | ) |   |   | 23.4 |   |   |   | (202.5 | ) |
| Income      tax expense (benefit)                                                               |   |                    | -      |   |                  |   | (20.1 | ) |   |   | 8.2 |   |   |   | (70.9 | ) |
|                                                                                            |   |                    | -      |   |                  |   | (37.5 | ) |   |   | 15.2 |   |   |   | (131.6 | ) |
| Foreign      currency translation adjustment:                                                   |   |                    |   |   |                  |   |   |   |   |   |   |   |   |   |   |   |
| Translation      adjustment for the period                                                      |   |                    | -      |   |                  |   | - |   |   |   | (2.1 | ) |   |   | (4.1 | ) |
| Reclassification      adjustments for losses included in net income for the      period         |   |                    | -      |   |                  |   | - |   |   |   | 4.9 |   |   |   | 0.8 |   |
|                                                                                            |   |                    | -      |   |                  |   | - |   |   |   | 2.8 |   |   |   | (3.3 | ) |
| Defined      benefit pension plans:                                                             |   |                    |   |   |                  |   |   |   |   |   |   |   |   |   |   |   |
| Prior      service credit arising during the period                                             |   |                    | -      |   |                  |   | 6.6 |   |   |   | - |   |   |   | - |   |
| Net      actuarial gain arising during the period                                               |   |                    | 0.8    |   |                  |   | 12.4 |   |   |   | - |   |   |   | - |   |
| Less      amounts included in net periodic benefit cost:                                        |   |                    |   |   |                  |   |   |   |   |   |   |   |   |   |   |   |
| Amortization      of prior service cost                                                         |   |                    | -      |   |                  |   | 0.9 |   |   |   | - |   |   |   | - |   |
| Amortization      of net actuarial loss                                                         |   |                    | -      |   |                  |   | 4.3 |   |   |   | - |   |   |   | - |   |
|                                                                                            |   |                    | 0.8    |   |                  |   | 24.2 |   |   |   | - |   |   |   | - |   |
| Income      tax expense                                                                         |   |                    | 0.3    |   |                  |   | 9.4 |   |   |   | - |   |   |   | - |   |
|                                                                                            |   |                    | 0.5    |   |                  |   | 14.8 |   |   |   | - |   |   |   | - |   |
| Other      postretirement benefit plan:                                                         |   |                    |   |   |                  |   |   |   |   |   |   |   |   |   |   |   |
| Net      actuarial loss arising during the period                                               |   |                    | (0.1   | )      |                  |   | (1.7 | ) |   |   |   |   |   |   |   |   |
| Less      amortization of net actuarial loss included in net periodic benefit      cost         |   |                    | -      |   |                  |   | 0.3 |   |   |   | - |   |   |   | - |   |
|                                                                                            |   |                    | (0.1   | )      |                  |   | (1.4 | ) |   |   | - |   |   |   | - |   |
| Income      tax expense                                                                         |   |                    | -      |   |                  |   | (0.6 | ) |   |   | - |   |   |   | - |   |
|                                                                                            |   |                    | (0.1   | )      |                  |   | (0.8 | ) |   |   | - |   |   |   | - |   |
|                                                                                            |   |                    |   |   |                  |   |   |   |   |   |   |   |   |   |   |   |
| Other      comprehensive income (loss) before tax                                               |   |                    | (8.6   | )      |                  |   | (34.8 | ) |   |   | 26.2 |   |   |   | (205.8 | ) |
| Income      tax expense (benefit)                                                               |   |                    | (3.3   | )      |                  |   | (11.3 | ) |   |   | 8.2 |   |   |   | (70.9 | ) |
| Other      comprehensive income (loss)                                                          |   | $                       | (5.3   | )      |                  | $      | (23.5 | ) |   | $ | 18.0 |   |   | $ | (134.9 | ) |

|                                               |   | Successor |   |   | Predecessor |   |
|----------------------------------------------------|--------|-----------|--------|--------|-------------|--------|
| (Millions)                                         |   | 2007      |   |   | 2006        |   |
| Unrealized      holding gains on investments       |   | $         | -      |   |        | $      | 37.5 |   |
| Unrealized      losses on hedging activities       |   |      | (5.7   | )      |        |   | - |   |
| Defined      benefit pension plans                 |   |      | 0.5    |   |        |   | (25.8 | ) |
| Other      postretirement benefit plan             |   |      | (0.1   | )      |        |   | (2.2 | ) |
| Accumulated      other comprehensive income (loss) |   | $         | (5.3   | )      |        | $      | 9.5 |   |

----

Index to Financial Supplement 

| 17. | Commitments      and Contingencies: |
|-----|-------------------------------------|

----

Index to Financial Supplement 

| 17. | Commitments      and Contingencies (Continued): |
|-----|-------------------------------------------------|

| Year       |   | (Millions) |
|------------|--------|------------|
| 2008       |   | $          | 190.1 |
| 2009       |   |       | 150.8 |
| 2010       |   |       | 110.8 |
| 2011       |   |       | 78.1 |
| 2012       |   |       | 43.2 |
| Thereafter |   |       | 159.7 |
| Total      |   | $          | 732.7 |

| 18. | Agreement      to Lease Cell Site Towers: |
|-----|-------------------------------------------|

| (Millions)                                                                               |   |   |   |
|------------------------------------------------------------------------------------------|--------|--------|--------|
| Deferred      rental income – current (included in other current      liabilities) |   | $      | 35.5   |
| Deferred      rental income – long-term (included in other liabilities)            |   |   | 301.7  |
| Total      deferred rental income                                                        |   | $      | 337.2  |

----

Index to Financial Supplement 

| 19. | Quarterly      Financial Information -(Unaudited): |
|-----|----------------------------------------------------|

|                                                        |   | For      the year ended December 31, 2007 |    |
|-------------------------------------------------------------|--------|-------------------------------------------|---------|
|                                                        |   |                                      |    |   | Successor |   |   | Predecessor |   |
|                                                        |   |                                      |    |   | Nov.      16 - |   |   | Oct.      1 - |   |   | Third |   |   | Second |   |   | First |   |
| (Millions)                                                  |   | Total                                     |    |   | Dec.      31 |   |   | Nov.      15 |   |   | Quarter |   |   | Quarter |   |   | Quarter |   |
| Revenues      and sales                                     |   | $                                         | 8,803.1 |   |   | $ | 1,132.9 |   |   | $ | 1,135.1 |   |   | $ | 2,281.5 |   |   | $ | 2,175.1 |   |   | $ | 2,078.5 |   |
| Operating      income (loss)                                |   | $                                         | 806.4   |   |   | $ | 90.7 |   |   | $ | (451.1 | ) |   | $ | 434.0 |   |   | $ | 378.5 |   |   | $ | 354.3 |   |
| Income      (loss) from continuing operations, net of tax   |   | $                                         | 184.1   |   |   | $ | (104.0 | ) |   | $ | (419.4 | ) |   | $ | 278.7 |   |   | $ | 198.5 |   |   | $ | 230.3 |   |
| Income      (loss) from discontinued operations, net of tax |   |                                      | (0.9    | ) |   |   | 0.6 |   |   |   | (2.4 | ) |   |   | 3.9 |   |   |   | (2.8 | ) |   |   | (0.2 | ) |
| Net      income (loss)                                      |   | $                                         | 183.2   |   |   | $ | (103.4 | ) |   | $ | (421.8 | ) |   | $ | 282.6 |   |   | $ | 195.7 |   |   | $ | 230.1 |   |

|   | A. | During      the Successor period November 16, 2007 to December 31, 2007, Alltel      incurred $5.2 million of incremental expenses related to the completion of      the Merger, which included insurance premiums of $4.2 million to obtain      retroactive indemnification coverage for departing directors and officers      for events that occurred prior to the Merger and $1.0 million in employee      retention bonuses.  These expenses increased the reported net      loss in the period by $3.2 million. (See Note  11). |
|--------|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | B. | During      the period October 1, 2007 to November 15, 2007, Alltel incurred $1.4      million of integration expenses related to its 2006 acquisitions of      Midwest Wireless and properties in Illinois, Texas and Virginia,      consisting of branding, signage and system conversion costs.  In      connection with its acquisition by two private investment firms, Alltel      incurred $612.3 million of incremental costs, which included financial      advisory, legal, accounting, regulatory filing, and other fees of $142.0      million, stock-based compensation expense of $63.8 million related to the      accelerated vesting of employee stock option and restricted stock awards,      a curtailment charge of $118.6 million resulting from the termination and      payout of the supplemental executive retirement plan, and additional      compensation-related costs of $287.9 million primarily related to      change-in-control payments to certain executives, bonus payments and      related payroll taxes. These charges      increased the reported net loss in the period by $466.9 million. (See Note      11). |
|--------|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | C. | During      the third quarter of 2007, Alltel incurred $5.6 million of integration      expenses related to its 2006 acquisitions of Midwest Wireless and      properties in Illinois, Texas and Virginia, consisting of branding,      signage and system conversion costs.  Alltel also incurred $0.3      million of severance and employee benefit costs and lease termination fees      of $2.6 million related to the closing of two call centers.  In      connection with its acquisition by two private investment firms, Alltel      incurred $2.5 million of incremental costs during the third quarter of      2007, principally consisting of financial advisory, legal and regulatory      filing fees. The integration      expenses and other charges decreased net income $7.6 million. (See Note      11).  During the third quarter of 2007, Alltel recorded a      reduction in its income tax contingency reserves to reflect the expiration      of certain state statutes of limitations, the effects of which resulted in      a decrease in income tax expense associated with continuing operations of      $33.8 million. (See Note 14). |
|--------|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | D. | During      the second quarter of 2007, Alltel incurred $2.2 million of integration      expenses related to its 2006 acquisitions of Midwest Wireless and      properties in Illinois, Texas and Virginia, consisting of branding,      signage and system conversion costs.  Alltel also incurred $0.7      million of severance and employee benefit costs related to the closing of      two call centers.  In connection with its acquisition by two      private investment firms, Alltel incurred $33.1 million of incremental      costs during the second quarter of 2007, principally consisting of      financial advisory, legal and regulatory filing fees. The integration      expenses and other charges decreased net income $34.9 million. (See Note      11). |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | E. | During      the first quarter of 2007, Alltel incurred $2.6 million of integration      expenses related to its 2006 acquisitions of Midwest Wireless and      properties in Illinois, Texas and Virginia.  The integration      expenses primarily consisted of branding, signage and system conversion      costs.  Alltel also incurred $3.7 million of severance and      employee benefit costs related to a planned workforce reduction in      connection with the closing of two call centers.  These expenses      decreased net income $3.9 million. (See Note 11).  During the      first quarter of 2007, Alltel recorded a pretax gain of $56.5 million      related to the sale of marketable equity securities acquired by the      Company through its merger with Western Wireless.  This      transaction increased net income $36.8 million. (See Note    13). |
|--------|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

Index to Financial Supplement 

| 19.  | Quarterly      Financial Information - (Unaudited),Continued: |
|-----------|---------------------------------------------------------------|

|                                                        |   | Predecessor                               |
|-------------------------------------------------------------|--------|-------------------------------------------|
|                                                        |   | For      the year ended December 31, 2006 |
|                                                        |   |                                      |   |   | Fourth |   |   | Third |   |   | Second |   |   | First |
| (Millions)                                                  |   | Total                                     |   |   | Quarter |   |   | Quarter |   |   | Quarter |   |   | Quarter |
| Revenues      and sales                                     |   | $                                         | 7,884.0 |   |   | $ | 2,088.2 |   |   | $ | 2,007.3 |   |   | $ | 1,945.2 |   |   | $ | 1,843.3 |
| Operating      income                                       |   | $                                         | 1,357.6 |   |   | $ | 363.8 |   |   | $ | 358.0 |   |   | $ | 343.8 |   |   | $ | 292.0 |
| Income      from continuing operations, net of tax          |   | $                                         | 823.7 |   |   | $ | 235.8 |   |   | $ | 165.3 |   |   | $ | 288.4 |   |   | $ | 134.2 |
| Income      (loss) from discontinued operations, net of tax |   |                                      | 305.7 |   |   |   | (19.9 | ) |   |   | 21.9 |   |   |   | 140.5 |   |   |   | 163.2 |
| Net      income                                             |   | $                                         | 1,129.4 |   |   | $ | 215.9 |   |   | $ | 187.2 |   |   | $ | 428.9 |   |   | $ | 297.4 |

|   | F. | During      the fourth quarter of 2006, Alltel incurred $2.9 million of integration      expenses related to its acquisitions of Midwest Wireless and wireless      properties in Illinois, Texas and Virginia.  These expenses      primarily consisted of branding, signage and computer system conversion      costs.  These expenses decreased net income $1.8 million. (See      Note 11).  During the fourth quarter of 2006, Alltel recorded a      $37.5 million adjustment to its income tax liabilities including its      contingency reserves to reflect the settlement with the IRS of all of the      Company’s tax liabilities related to its consolidated federal income tax      returns for the years 1997 through 2003.  The effects of the      adjustment to the income tax liabilities resulted in a decrease in income      tax expense from continuing operations of $29.9 million and a reduction in      income tax expense from discontinued operations of $7.6 million. (See Note      14).  Loss from discontinued operations included an impairment      charge of $30.5 million to reflect the fair value less cost to sell of the      four rural markets in Minnesota required to be divested.  The      effects of the impairment charge decreased income from discontinued      operations $28.7 million.  (See Note  15). |
|--------|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | G. | During      the third quarter of 2006, Alltel repurchased prior to maturity $1.0      billion of long-term debt and terminated a related interest rate swap      agreement.  In connection with the early termination of the debt      and interest rate swap agreement, Alltel incurred net pretax termination      fees of $23.0 million.  Following the spin-off of the wireline      business, Alltel completed a debt exchange in which the Company      transferred to two investment banks certain debt securities received in      the spin-off transaction in exchange for certain Alltel debt      securities.  In completing the tax-free debt exchange, Alltel      incurred a loss of $27.5 million.  These transactions decreased      net income $38.8 million.     (See Note      13). |
|--------|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | H. | During      the second quarter of 2006, Alltel recorded a pretax gain of $176.6      million related to the liquidation of its investment in RTB Class C      stock. This      gain increased net income $107.6 million. (See Note  13). |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | I. | During      the first quarter of 2006, Alltel incurred $10.8 million of integration      expenses in connection with its acquisition of Western      Wireless.  The integration expenses primarily consisted of      branding, signage and system conversion costs.  These expenses      decreased net income $6.6 million. (See Note  11). |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 20.  | Subsequent      Event: |
|-----------|------------------------|

----