Document:

<PAGE>
                             LETTER OF TRANSMITTAL
                                 U S WEST, INC.
                         U S WEST CAPITAL FUNDING, INC.
                               OFFER TO EXCHANGE
                        6 7/8% NOTES DUE AUGUST 15, 2001
                                FOR ANY AND ALL
                  OUTSTANDING 6 7/8% NOTES DUE AUGUST 15, 2001
               PURSUANT TO THE PROSPECTUS DATED FEBRUARY   , 2000

 THE EXCHANGE OFFER WILL EXPIRE AT 5:00 P.M., NEW YORK CITY TIME, ON MARCH 15,
 2000, UNLESS THE EXCHANGE OFFER IS EXTENDED.

 THE PRINCIPAL EXCHANGE AGENT (THE "EXCHANGE AGENT") FOR THE EXCHANGE OFFER IS:

                  BANK ONE TRUST COMPANY, NATIONAL ASSOCIATION

<TABLE>
<S>                                            <C>
                  BY MAIL:                          BY HAND, OVERNIGHT MAIL OR COURIER:
Bank One Trust Company, National Association   Bank One Trust Company, National Association
            Attention: Exchanges                           Attention: Exchanges
       Global Corporate Trust Services                Global Corporate Trust Services
              1 Bank One Plaza,                           One North State Street,
            Mail Suite 1L 1-0122                                9(th) Floor
           Chicago, IL 60670-0122                            Chicago, IL 60602
                     or                                             or
Bank One Trust Company, National Association   Bank One Trust Company, National Association
            Attention: Exchanges                           Attention: Exchanges
       Global Corporate Trust Services                Global Corporate Trust Services
         14 Wall Street, 8(th) Floor                    14 Wall Street, 8(th) Floor
             New York, NY 10005                             New York, NY 10005

                BY FACSIMILE:                         FOR INFORMATION OR CONFIRMATION
               (312) 407-8853                                  BY TELEPHONE:
            Attention: Exchanges                              (800) 524-9472
</TABLE>

  FOR HOLDERS IN LUXEMBOURG ("LUXEMBOURG HOLDERS") ONLY, THE EXCHANGE AGENT IN
                                   LUXEMBOURG
                     (THE "LUXEMBOURG EXCHANGE AGENT") IS:

                        KREDIETBANK LUXEMBOURGEOISE S.A.

                                    BY MAIL:
                        Kredietbank S.A. Luxembourgeoise
                               43 Boulevard Royal
                              L - 2955, Luxembourg

                        FOR INFORMATION OR CONFIRMATION
                                 BY TELEPHONE:
                               (352) 47 97 39 35

                                 BY FACSIMILE:
                               (352) 47 97 73 951

FOR QUESTIONS REGARDING THIS LETTER OF TRANSMITTAL OR FOR OTHER INFORMATION, YOU
MAY CONTACT THE EXCHANGE AGENT OR, FOR LUXEMBOURG HOLDERS ONLY, THE LUXEMBOURG
EXCHANGE AGENT.
<PAGE>
    DELIVERY OF THIS INSTRUMENT TO AN ADDRESS OR TRANSMISSION TO A FACSIMILE
NUMBER OTHER THAN AS SET FORTH ABOVE DOES NOT CONSTITUTE A VALID DELIVERY. THE
METHOD OF DELIVERY OF ALL DOCUMENTS, INCLUDING CERTIFICATES, IS AT THE RISK OF
THE HOLDER. IF DELIVERY IS BY MAIL, REGISTERED MAIL WITH RETURN RECEIPT
REQUESTED, PROPERLY INSURED, IS RECOMMENDED. YOU SHOULD READ THE INSTRUCTIONS
ACCOMPANYING THIS LETTER OF TRANSMITTAL CAREFULLY BEFORE YOU COMPLETE THIS
LETTER OF TRANSMITTAL.

    The undersigned acknowledges that he or she has received the Prospectus
dated February   , 2000 (the "Prospectus") of U S WEST, Inc. ("U S WEST") and
U S WEST Capital Funding, Inc. (the "Company"), and this Letter of Transmittal
and the instructions hereto (the "Letter of Transmittal"), which together
constitute the Company's offer (the "Exchange Offer") to exchange $1,000
principal amount of each of its 6 7/8% Notes due August 15, 2001 (the "New
Notes") the offering of which has been registered under the Securities Act of
1933, as amended (the "Securities Act"), pursuant to a Registration Statement of
which the Prospectus is a part, for each $1,000 principal amount of its
outstanding 6 7/8% Notes due August 15, 2001 (the "Old Notes"), of which
$1,150,000,000 aggregate principal amount is outstanding, upon the terms and
subject to the conditions set forth in the Prospectus. The term "Expiration
Date" shall mean 5:00 p.m., New York City time, on March 15, 2000, unless the
Company, in its sole discretion, extends the Exchange Offer, in which case the
term shall mean the latest date and time to which the Exchange Offer is extended
by the Company. Capitalized terms used but not defined herein have the meaning
given to them in the Prospectus.

    This Letter of Transmittal is to be used if either (1) certificates
representing Old Notes are to be physically delivered to the Exchange Agent
herewith by Holders (as defined below) (or for Luxembourg Holders only, to the
Luxembourg Exchange Agent), (2) tender of Old Notes is to be made by book-entry
transfer to an account maintained by the Exchange Agent or the Luxembourg
Exchange Agent at The Depository Trust Company ("DTC"), pursuant to the
procedures set forth in "The Exchange Offer--Procedures for Tendering Old 6 7/8%
Notes" in the Prospectus by any financial institution that is a participant in
DTC and whose name appears on a security position listing as the owner of Old
Notes or (3) tender of Old Notes is to be made according to the guaranteed
delivery procedures set forth in the Prospectus under "The Exchange
Offer--Guaranteed Delivery Procedures." Delivery of this Letter of Transmittal
and any other required documents must be made to the Exchange Agent (or for
Luxembourg Holders only, to the Luxembourg Exchange Agent).

    DELIVERY OF DOCUMENTS TO DTC IN ACCORDANCE WITH DTC PROCEDURES DOES NOT
CONSTITUTE DELIVERY TO THE EXCHANGE AGENT OR THE LUXEMBOURG EXCHANGE AGENT.

    The term "Holder" as used herein means any person in whose name Old Notes
are registered on the books of the Company or any other person who has obtained
a properly completed bond power from the registered holder.

    All Holders of Old Notes who wish to tender their Old Notes must, prior to
the Expiration Date: (1) complete, sign, and deliver this Letter of Transmittal,
or a facsimile thereof, to the Exchange Agent (or for Luxembourg Holders only,
to the Luxembourg Exchange Agent), in person or to the address set forth above;
and (2) tender (and not withdraw) his or her Old Notes or, if a tender of Old
Notes is to be made by book-entry transfer to the account maintained by the
Exchange Agent (or for Luxembourg Holders only, the Luxembourg Exchange Agent)
at DTC, confirm such book-entry transfer (a "Book-Entry Confirmation"), in each
case in accordance with the procedures for tendering described in the
Instructions to this Letter of Transmittal. Holders of Old Notes whose
certificates are not immediately available, or who are unable to deliver their
certificates or Book-Entry Confirmation and all other documents required by this
Letter of Transmittal to be delivered to the Exchange Agent (or for Luxembourg
Holders only, to the Luxembourg Exchange Agent) on or prior to the Expiration
Date,

                                       2
<PAGE>
must tender their Old Notes according to the guaranteed delivery procedures set
forth under the caption "The Exchange Offer--Guaranteed Delivery Procedures" in
the Prospectus. (See Instruction 2.)

    Upon the terms and subject to the conditions of the Exchange Offer, the
acceptance for exchange of the Old Notes validly tendered and not withdrawn and
the issuance of the New Notes will be made promptly following the Expiration
Date. For the purposes of the Exchange Offer, the Company shall be deemed to
have accepted for exchange validly tendered Old Notes when, as and if the
Company has given written notice thereof to the Exchange Agent or to the
Luxembourg Exchange Agent.

    The undersigned has completed, executed and delivered this Letter of
Transmittal to indicate the action the undersigned desires to take with respect
to the Exchange Offer.

    PLEASE READ THE ENTIRE LETTER OF TRANSMITTAL AND THE PROSPECTUS CAREFULLY
BEFORE CHECKING ANY BOX BELOW. THE INSTRUCTIONS INCLUDED IN THIS LETTER OF
TRANSMITTAL MUST BE FOLLOWED. QUESTIONS AND REQUESTS FOR ASSISTANCE OR FOR
ADDITIONAL COPIES OF THE PROSPECTUS, THIS LETTER OF TRANSMITTAL AND THE NOTICE
OF GUARANTEED DELIVERY MAY BE DIRECTED TO THE EXCHANGE AGENT (OR FOR LUXEMBOURG
HOLDERS ONLY, TO THE LUXEMBOURG EXCHANGE AGENT). SEE INSTRUCTION 12.

    HOLDERS WHO WISH TO ACCEPT THE EXCHANGE OFFER AND TENDER THEIR OLD NOTES
MUST COMPLETE THIS LETTER OF TRANSMITTAL IN ITS ENTIRETY AND COMPLY WITH ALL OF
ITS TERMS.

                                       3
<PAGE>
    List below the Old Notes to which this Letter of Transmittal relates. If the
space provided below is inadequate, the Certificate Numbers and Principal
Amounts should be listed on a separate signed schedule, attached hereto. The
minimum permitted tender is $1,000 in principal amount of each of the 6 7/8%
Notes due August 15, 2001. All other tenders must be in integral multiples of
$1,000.

BOX I

<TABLE>
<S>                                                         <C>                  <C>
                          DESCRIPTION OF 6 7/8% NOTES DUE AUGUST 15, 2001
                                                                    (A)                  (B)
                                                                                 AGGREGATE PRINCIPAL
     NAME(S) AND ADDRESS(ES) OF REGISTERED HOLDER(S)*           CERTIFICATE      AMOUNT TENDERED (IF
                (PLEASE FILL IN, IF BLANK)                       NUMBER(S)        LESS THAN ALL)**
                                                            Total Principal
                                                            Amount of Old Notes
*   Need not be completed by book-entry Holders.
**  Need not be completed by Holders who wish to tender all Old Notes listed.
</TABLE>

                                       4
<PAGE>
              PLEASE READ CAREFULLY THE ACCOMPANYING INSTRUCTIONS

<TABLE>
<S>                                                <C>
BOX II                                             BOX III
     SPECIAL REGISTRATION INSTRUCTIONS                    SPECIAL DELIVERY INSTRUCTIONS
       (SEE INSTRUCTIONS 4, 5 AND 6)                      (SEE INSTRUCTIONS 4, 5 AND 6)

    To be completed ONLY if certificates for       To be completed ONLY if certificates for Old
Old Notes in a principal amount not                Notes in a principal amount not tendered, or
tendered, or New Notes issued in exchange          New Notes issued in exchange for Old Notes
for Old Notes accepted for exchange, are to        accepted for exchange, are to be delivered
be issued in the name of someone other than        to someone other than the undersigned.
the undersigned.

Issue certificate(s) to:                           Deliver certificate(s) to:

  Name: ----------------------------------                            NAME:
               (PLEASE PRINT)                      --------------------------------------------
                                                                  (PLEASE PRINT)

--------------------------------------------       --------------------------------------------
               (PLEASE PRINT)                                     (PLEASE PRINT)

Address: ---------------------------------         Address: ---------------------------------

  ----------------------------------------         --------------------------------------------
            (INCLUDING ZIP CODE)                               (INCLUDING ZIP CODE)

  ----------------------------------------         --------------------------------------------
(TAXPAYER IDENTIFICATION OR SOCIAL SECURITY        (TAXPAYER IDENTIFICATION OR SOCIAL SECURITY
                  NUMBER)                                            NUMBER)
</TABLE>

IMPORTANT: THIS LETTER OF TRANSMITTAL OR A FACSIMILE HEREOF (TOGETHER WITH THE
           CERTIFICATE(S) FOR OLD NOTES OR A CONFIRMATION OF BOOK-ENTRY TRANSFER
           OF SUCH OLD NOTES AND ALL OTHER REQUIRED DOCUMENTS) OR, IF GUARANTEED
           DELIVERY PROCEDURES ARE TO BE COMPLIED WITH, A NOTICE OF GUARANTEED
           DELIVERY, MUST BE RECEIVED BY THE EXCHANGE AGENT (OR FOR LUXEMBOURG
           HOLDERS ONLY, THE LUXEMBOURG EXCHANGE AGENT) ON OR PRIOR TO THE
           EXPIRATION DATE.

/ /  CHECK HERE IF OLD NOTES ARE BEING DELIVERED BY DTC TO AN ACCOUNT MAINTAINED
    BY THE EXCHANGE AGENT OR THE LUXEMBOURG EXCHANGE AGENT WITH DTC AND COMPLETE
    THE FOLLOWING:

    Name of Tendering Institution
    --------------------------------------------------------------

/ /  The Depository Trust Company

    Account Number
    --------------------------------------------------------------------------

    Transaction Code Number
    ------------------------------------------------------------------

    Holders whose Old Notes are not immediately available or who cannot deliver
    their Old Notes and all other documents required hereby to the Exchange
    Agent (or for Luxembourg Holders only, to the Luxembourg Exchange Agent) on
    or prior to the Expiration Date may tender their Old Notes according to the
    guaranteed delivery procedures set forth in the Prospectus under the caption
    "The Exchange Offer--Guaranteed Delivery Procedures." (See Instruction 2.)

                                       5
<PAGE>
/ /  CHECK HERE IF OLD NOTES ARE BEING DELIVERED PURSUANT TO A NOTICE OF
    GUARANTEED DELIVERY PREVIOUSLY SENT TO THE EXCHANGE AGENT (OR FOR LUXEMBOURG
    HOLDERS ONLY, TO THE LUXEMBOURG EXCHANGE AGENT) AND COMPLETE THE FOLLOWING:

    Name(s) of Tendering Holder(s)
    -------------------------------------------------------------

    Date of Execution of Notice of Guaranteed Delivery
    -------------------------------------------

    Name of Institution which Guaranteed Delivery
    -----------------------------------------------

    Transaction Code Number
    ------------------------------------------------------------------

/ /  CHECK HERE IF YOU ARE A BROKER-DEALER AND WISH TO RECEIVE 10 ADDITIONAL
    COPIES OF THE PROSPECTUS AND 10 COPIES OF ANY AMENDMENTS OR SUPPLEMENTS
    THERETO:

    Name:
    ----------------------------------------------------------------------------

    Address:
    ----------------------------------------------------------------------------

    If the undersigned is not a broker-dealer, the undersigned represents that
it is acquiring the New Notes in the ordinary course of its business, it has no
arrangement or understanding with any person, nor does it intend to engage in,
the distribution (as that term is interpreted by the SEC) of New Notes and it is
not an affiliate (as that term is interpreted by the SEC) of the Company or
U S WEST, or if it is an affiliate, it will comply with the registration and
prospectus delivery requirements of the Securities Act to the extent applicable.
If the undersigned is a broker-dealer that will receive New Notes for its own
account in exchange for Old Notes that were acquired as a result of
market-making activities or other trading activities, it acknowledges that it
will deliver a prospectus in connection with any resale of such New Notes;
however, by so acknowledging and by delivering a prospectus, the undersigned
will not be deemed to admit that it is an "underwriter" within the meaning of
the Securities Act.

                                       6
<PAGE>
                    NOTE: SIGNATURES MUST BE PROVIDED BELOW
                PLEASE READ ACCOMPANYING INSTRUCTIONS CAREFULLY

Ladies and Gentlemen:

    Subject to the terms and conditions of the Exchange Offer, the undersigned
hereby tenders to U S WEST Capital Funding, Inc. (the "Company") the principal
amount of Old Notes indicated above.

    Subject to and effective upon the acceptance for exchange of the principal
amount of Old Notes tendered hereby in accordance with this Letter of
Transmittal, the undersigned sells, assigns and transfers to, or upon the order
of, the Company all right, title and interest in and to the Old Notes tendered
hereby. The undersigned hereby irrevocably constitutes and appoints the Exchange
Agent (or for Luxembourg Holders only, the Luxembourg Exchange Agent) as its
agent and attorney-in-fact (with full knowledge that the Exchange Agent also
acts as the agent of the Company and as Trustee under the Indenture for the Old
Notes and the New Notes) with respect to the tendered Old Notes with full power
of substitution (such power of attorney being deemed an irrevocable power
coupled with an interest), subject only to the right of withdrawal described in
the Prospectus, to (1) deliver certificates for such Old Notes to the Company or
transfer ownership of such Old Notes on the account books maintained by DTC,
together, in either such case, with all accompanying evidences of transfer and
authenticity to, or upon the order of, the Company and (2) present such Old
Notes for transfer on the books of the Company and receive all benefits and
otherwise exercise all rights of beneficial ownership of such Old Notes, all in
accordance with the terms of the Exchange Offer.

    The undersigned acknowledges that the Exchange Offer is being made in
reliance upon interpretative advice given by the staff of the SEC to third
parties in connection with transactions similar to the Exchange Offer, so that
the New Notes issued pursuant to the Exchange Offer in exchange for the Old
Notes may be offered for resale, resold and otherwise transferred by holders
thereof (other than a broker-dealer who purchased such Old Notes directly from
the Company for resale pursuant to Rule 144A, Regulation S or any other
available exemption under the Securities Act or a person that is an "affiliate"
of the Company or U S WEST within the meaning of Rule 405 under the Securities
Act) without compliance with the registration and prospectus delivery provisions
of the Securities Act, provided that such New Notes are acquired in the ordinary
course of such holders' business and such holders are not participating, do not
intend to participate and have no arrangement or understanding with any person
to participate, in the distribution of such New Notes.

    The undersigned represents and warrants that (1) the New Notes acquired
pursuant to the Exchange Offer are being acquired in the ordinary course of
business of the person receiving New Notes (which shall be the undersigned
unless otherwise indicated in the box entitled "Special Delivery Instructions"
above) (the "Recipient"), (2) neither the undersigned nor the Recipient (if
different) is engaged in, intends to engage in or has any arrangement or
understanding with any person to participate in the distribution (as that term
is interpreted by the SEC) of such New Notes, and (3) neither the undersigned
nor the Recipient (if different) is an "affiliate" of the Company or U S WEST as
defined in Rule 405 under the Securities Act, or if it is an affiliate, it will
comply with the registration and prospectus delivery requirements of the
Securities Act to the extent applicable.

    If the undersigned is a broker-dealer, the undersigned further
(1) represents that it acquired Old Notes for the undersigned's own account as a
result of market-making activities or other trading activities, (2) represents
that it has not entered into any arrangement or understanding with the Company
or any "affiliate" of the Company (within the meaning of Rule 405 under the
Securities Act) to distribute the New Notes to be received in the Exchange Offer
and (3) acknowledges that it will deliver a prospectus meeting the requirements
of the Securities Act (for which purposes, the delivery of the Prospectus, as
the same may be hereafter supplemented or amended, shall be sufficient) in
connection with any resale of New Notes received in the Exchange Offer. Such a
broker-dealer will not be

                                       7
<PAGE>
deemed, solely by reason of such acknowledgment and prospectus delivery, to
admit that it is an "underwriter" within the meaning of the Securities Act.

    The undersigned hereby represents and warrants that the undersigned has full
power and authority to tender, exchange, assign and transfer the Old Notes
tendered hereby and to acquire New Notes issuable upon the exchange of such
tendered Old Notes, and that, when the same are accepted for exchange, the
Company will acquire good and unencumbered title thereto, free and clear of all
liens, restrictions, charges and encumbrances and not subject to any adverse
claim. The undersigned also warrants that it will, upon request, execute and
deliver any additional documents deemed to be necessary or desirable by the
Exchange Agent (or for Luxembourg Holders only, the Luxembourg Exchange Agent)
or the Company in order to complete the exchange, assignment and transfer of
tendered Old Notes or transfer of ownership of such Old Notes on the account
books maintained by a book-entry transfer facility.

    The undersigned agrees that acceptance of any tendered Old Notes by the
Company and the issuance of New Notes in exchange therefor shall constitute
performance in full by the Company of its obligations under the Registration
Rights Agreement (as defined in the Prospectus) and that, upon the issuance of
the New Notes, the Company will have no further obligations or liabilities
thereunder for the registration of the Old Notes or the New Notes.

    The undersigned understands that tenders of Old Notes pursuant to the
procedures described under the caption "The Exchange Offer--Procedures for
Tendering Old 6 7/8% Notes" in the Prospectus and in the instructions hereto
will constitute a binding agreement between the undersigned, the Company and the
Exchange Agent (or for Luxembourg Holders only, the Luxembourg Exchange Agent)
in accordance with the terms and subject to the conditions of the Exchange
Offer.

    The Exchange Offer is subject to certain conditions set forth in the
Prospectus under the caption "The Exchange Offer--Conditions of the Exchange
Offer." The undersigned recognizes that as a result of these conditions, as more
particularly set forth in the Prospectus, the Company may not be required to
exchange any of the Old Notes tendered hereby. If any tendered Old Notes are not
accepted for exchange pursuant to the Exchange Offer for any reason,
certificates for any such unaccepted Old Notes will be returned (except as noted
below with respect to lenders through DTC), at the Company's cost and expense,
to the undersigned at the address shown below or at a different address as may
be indicated herein under "Special Delivery Instructions" as promptly as
practicable after the Expiration Date.

    All authority conferred or agreed to be conferred by this Letter of
Transmittal shall survive the death, incapacity or dissolution of the
undersigned, and every obligation of the undersigned under this Letter of
Transmittal shall be binding on the undersigned's heirs, personal
representatives, successors and assigns. This tender may be withdrawn only in
accordance with the procedures set forth in this Letter of Transmittal.

    By acceptance of the Exchange Offer, each broker-dealer that receives New
Notes pursuant to the Exchange Offer hereby acknowledges and agrees that upon
the receipt of notice by the Company of the happening of any event that makes
any statement in the Prospectus untrue in any material respect or that requires
the making of any changes in the Prospectus in order to make the statements
therein not misleading (which notice the Company agrees to deliver promptly to
such broker-dealer), such broker-dealer will suspend use of the Prospectus until
the Company has amended or supplemented the Prospectus to correct such
misstatement or omission and has furnished copies of the amended or supplemented
prospectus to such broker-dealer.

    Unless otherwise indicated under "Special Registration Instructions," please
issue the certificates representing the New Notes issued in exchange for the Old
Notes accepted for exchange and return any certificates for Old Notes not
tendered or not exchanged, in the name(s) of the undersigned (or, in

                                       8
<PAGE>
either such event in the case of Old Notes tendered by DTC, by credit to the
account at DTC). Similarly, unless otherwise indicated under "Special Delivery
Instructions," please send the certificates representing the New Notes issued in
exchange for the Old Notes accepted for exchange and any certificates for Old
Notes not tendered or not exchanged (and accompanying documents, as appropriate)
to the undersigned at the address shown below the undersigned's signature(s),
unless, in either event, tender is being made through DTC. In the event that
both "Special Registration Instructions" and "Special Delivery Instructions" are
completed, please issue the certificates representing the New Notes issued in
exchange for the Old Notes accepted for exchange in the name(s) of, and return
any certificates for Old Notes not tendered or not exchanged to, the person(s)
so indicated. The undersigned understands that the Company has no obligations
pursuant to the "Special Registration Instructions" or "Special Delivery
Instructions" to transfer any Old Notes from the name of the registered
Holder(s) thereof if the Company does not accept for exchange any of the Old
Notes so tendered.

    Holders who wish to tender the Old Notes and (1) whose Old Notes are not
immediately available or (2) who cannot deliver their Old Notes, this Letter of
Transmittal or any other documents required hereby to the Exchange Agent (or for
Luxembourg Holders only, to the Luxembourg Exchange Agent) prior to the
Expiration Date, may tender their Old Notes according to the guaranteed delivery
procedures set forth in the Prospectus under the caption "The Exchange
Offer--Guaranteed Delivery Procedures." See Instruction 1 regarding the
completion of the Letter of Transmittal.

                                       9
<PAGE>
                        PLEASE SIGN HERE WHETHER OR NOT
                 OLD NOTES ARE BEING PHYSICALLY TENDERED HEREBY
                    AND WHETHER OR NOT TENDER IS TO BE MADE
                 PURSUANT TO THE GUARANTEED DELIVERY PROCEDURES

    This Letter of Transmittal must be signed by the registered holder(s) as
their name(s) appear on the Old Notes or, if tendered by a participant in DTC,
exactly as such participant's name appears on a security listing as the owner of
Old Notes, or by person(s) authorized to become registered holder(s) by a
properly completed bond power from the registered holder(s), a copy of which
must be transmitted with this Letter of Transmittal. If Old Notes to which this
Letter of Transmittal relate are held of record by two or more joint holders,
then all such holders must sign this Letter of Transmittal. If signature is by a
trustee, executor, administrator, guardian, attorney-in-fact, officer of a
corporation or other person acting in a fiduciary or representative capacity,
then such person must (1) set forth his or her full title below and (2) unless
waived by the Company, submit evidence satisfactory to the Company of such
person's authority so to act. (See Instruction 4.)

<TABLE>
<S>                                            <C>
X ----------------------------------------     Date: -------------------------------------

X ----------------------------------------     Date: -------------------------------------

        Signature(s) of Holder(s) or
            Authorized Signatory

Name(s): ----------------------------------    Address: ----------------------------------

 Name(s): ----------------------------------    Address: ----------------------------------
                Please Print                                Including Zip Code

Capacity: ----------------------------------    Telephone Number: ------------------------
                                                            Including Area Code

Social Security No. -------------------------
</TABLE>

                   PLEASE COMPLETE SUBSTITUTE FORM W-9 HEREIN

                                       10
<PAGE>
BOX IV

                    SIGNATURE GUARANTEE (SEE INSTRUCTION 1)

        CERTAIN SIGNATURES MUST BE GUARANTEED BY AN ELIGIBLE INSTITUTION

--------------------------------------------------------------------------------
             (NAME OF ELIGIBLE INSTITUTION GUARANTEEING SIGNATURES)

--------------------------------------------------------------------------------
  (FIRM ADDRESS (INCLUDING ZIP CODE) AND TELEPHONE NO. (INCLUDING AREA CODE))

--------------------------------------------------------------------------------
                             (AUTHORIZED SIGNATURE)

--------------------------------------------------------------------------------
                                 (PRINTED NAME)

--------------------------------------------------------------------------------
                                    (TITLE)

Date:
-------------------------------------

                                  INSTRUCTIONS
         FORMING PART OF THE TERMS AND CONDITIONS OF THE EXCHANGE OFFER

1. GUARANTEE OF SIGNATURES.

    Signatures on this Letter of Transmittal need not be guaranteed if (a) this
Letter of Transmittal is signed by the registered holder(s) of the Old Notes
tendered herewith and such holder(s) have not completed the box set forth herein
entitled "Special Registration Instructions" or the box entitled "Special
Delivery Instructions" or (b) such Old Notes are tendered for the account of a
member firm of a registered national securities exchange or of the National
Association of Securities Dealers, Inc. or a commercial bank or trust company
having an office or correspondent in the United States (each, an "Eligible
Institution"). (See Instruction 6.) Otherwise, all signatures on this Letter of
Transmittal or a notice of withdrawal, as the case may be, must be guaranteed by
an Eligible Institution. All signatures on bond powers and endorsements on
certificates must also be guaranteed by an Eligible Institution.

2. DELIVERY OF THIS LETTER OF TRANSMITTAL AND OLD NOTES.

    Unless the Exchange Agent or the Luxembourg Exchange Agent, as appropriate,
has received a properly transmitted Agent's Message (as defined below),
certificates for all physically delivered Old Notes or confirmation of any
book-entry transfer to the Exchange Agent (or for Luxembourg Holders only, to
the Luxembourg Exchange Agent) at DTC of Old Notes tendered by book-entry
transfer, as well as, in each case (including cases where tender is effected by
book-entry transfer), a properly completed and duly executed copy of this Letter
of Transmittal or facsimile hereof and any other documents required by this
Letter of Transmittal, must be received by the Exchange Agent (or for Luxembourg
Holders only, the Luxembourg Exchange Agent) at its address set forth herein
prior to 5:00 p.m., New York City time, on the Expiration Date. The method of
delivery of the tendered Old Notes, this Letter of Transmittal and all other
required documents to the Exchange Agent (or for Luxembourg Holders only, to the
Luxembourg Exchange Agent) is at the election and risk of the Holder and the
delivery will be deemed made only when actually received by the Exchange Agent
(or for Luxembourg Holders only, to the Luxembourg Exchange Agent). If Old Notes
are sent by mail,

                                       11
<PAGE>
registered mail with return receipt requested, properly insured, is recommended.
In all cases, sufficient time should be allowed to ensure timely delivery. No
Letter of Transmittal or Old Notes should be sent to the Company.

    The Exchange Agent will make a request to establish an account with respect
to the Old Notes at DTC for purposes of the Exchange Offer within two
business days after the date of the Prospectus, and any financial institution
that is a participant in DTC may make book-entry delivery of Old Notes by
causing DTC to transfer such Old Notes into the appropriate Exchange Agent's
account at DTC in accordance with DTC's procedures for transfer. However,
although delivery of Old Notes may be effected through book-entry transfer at
DTC, the Letter of Transmittal, with any required signature guarantees or an
Agent's Message (as defined in the next paragraph) in connection with a
book-entry transfer and any other required documents, must, in any case, be
transmitted to and received by the Exchange Agent (or for Luxembourg Holders
only, the Luxembourg Exchange Agent) at the address specified on the cover
page of the Letter of Transmittal on or prior to the Expiration Date or the
guaranteed delivery procedures described below must be complied with.

    A Holder may tender Old Notes that are held through DTC by transmitting its
acceptance through DTC's Automated Tender Offer Program, for which the
transaction will be eligible, and DTC will then edit and verify the acceptance
and send an Agent's Message to the Exchange Agent (or for Luxembourg Holders
only, to the Luxembourg Exchange Agent) for its acceptance. The term "Agent's
Message" means a message transmitted by DTC to, and received by, the Exchange
Agent (or for Luxembourg Holders only, the Luxembourg Exchange Agent) and
forming part of the Book-Entry Confirmation, which states that DTC has received
an express acknowledgment from each participant in DTC tendering the Old Notes
and that such participant has received the Letter of Transmittal and agrees to
be bound by the terms of the Letter of Transmittal and the Company may enforce
such agreement against such participant.

    Holders who wish to tender their Old Notes and (1) whose Old Notes are not
immediately available, or (2) who cannot deliver their Old Notes, this Letter of
Transmittal or any other documents required hereby to the Exchange Agent (or for
Luxembourg Holders only, to the Luxembourg Exchange Agent) on or prior to the
Expiration Date or comply with book-entry transfer procedures on a timely basis
must tender their Old Notes according to the guaranteed delivery procedures set
forth in the Prospectus. See "The Exchange Offer--Guaranteed Delivery
Procedures." Pursuant to such procedure: (1) such tender must be made by or
through an Eligible Institution and (2) on or prior to the Expiration Date, the
Exchange Agent (or for Luxembourg Holders only, the Luxembourg Exchange Agent)
must have received from the Eligible Institution either an Agent's Message with
respect to guaranteed delivery or (a) a properly completed and duly executed
Notice of Guaranteed Delivery (by facsimile transmission, overnight courier,
mail or hand delivery) setting forth the name and address of the Holder of the
Old Notes, the certificate number or numbers of such Old Notes and the principal
amount of Old Notes tendered, stating that the tender is being made thereby and
guaranteeing that, within five New York Stock Exchange trading days after the
date of signing of the Notice of Guaranteed Delivery, this Letter of Transmittal
(or facsimile hereof) together with the certificate(s) representing the Old
Notes and any other required documents will be deposited by the Eligible
Institution with the Exchange Agent (or for Luxembourg Holders only, the
Luxembourg Exchange Agent); and (b) such properly completed and executed Letter
of Transmittal (or facsimile hereof), as well as all other documents required by
this Letter of Transmittal and the certificate(s) representing all tendered Old
Notes in proper form for transfer (or a confirmation of book-entry transfer of
such Old Notes into the Exchange Agent's or the Luxembourg Exchange Agent's, as
appropriate, account at DTC), must be received by the Exchange Agent (or for
Luxembourg Holders only, the Luxembourg Exchange Agent) within five New York
Stock Exchange trading days after the date of signing of the Notice of
Guaranteed Delivery, all in the manner provided in the Prospectus under the
caption "The Exchange Offer--Guaranteed Delivery Procedures." Any Holder who
wishes to tender his or her Old Notes pursuant to

                                       12
<PAGE>
the guaranteed delivery procedures described above must ensure that the Exchange
Agent (or for Luxembourg Holders only, the Luxembourg Exchange Agent) receives
the Notice of Guaranteed Delivery prior to 5:00 p.m., New York City time, on the
Expiration Date. Upon request to the Exchange Agent (or for Luxembourg Holders
only, to the Luxembourg Exchange Agent), a Notice of Guaranteed Delivery will be
sent to Holders who wish to tender their Old Notes according to the guaranteed
delivery procedures set forth above.

    All questions as to the validity, form, eligibility (including time of
receipt), acceptance of tendered Old Notes, and withdrawal of tendered Old Notes
will be determined by the Company in its sole discretion, which determination
will be final and binding. All tendering Holders, by execution of this Letter of
Transmittal (or facsimile thereof), shall waive any right to receive notice of
the acceptance of the Old Notes for exchange. The Company reserves the absolute
right to reject any and all Old Notes not properly tendered or any Old Notes the
Company's acceptance of which might, in the Company's judgment or the judgment
of the Company's counsel, be unlawful. The Company also reserves the right to
waive any irregularities or conditions of the Exchange Offer as to particular
Old Notes. The Company's interpretation of the terms and conditions of the
Exchange Offer (including the instructions in this Letter of Transmittal) shall
be final and binding on all parties. Unless waived, any defects or
irregularities in connection with tenders of Old Notes must be cured within such
time as the Company shall determine, Neither the Company, U S WEST, the Exchange
Agent, the Luxembourg Exchange Agent nor any other person shall be under any
duty to give notification of defects or irregularities with respect to tenders
of Old Notes, nor shall any of them incur any liability for failure to give such
notification. Tenders of Old Notes, will not be deemed to have been made until
such defects or irregularities have been cured to the Company's satisfaction or
waived. Any Old Notes received by the Exchange Agent (or for Luxembourg Holders
only, the Luxembourg Exchange Agent) that are not properly tendered and as to
which the defects or irregularities have not been cured or waived will be
returned by the Exchange Agent or the Luxembourg Exchange Agent, as appropriate,
to the tendering Holders pursuant to the Company's determination, unless
otherwise provided in this Letter of Transmittal, as soon as practicable
following the Expiration Date. The Exchange Agent and the Luxembourg Exchange
Agent have no fiduciary duties to the Holders with respect to the Exchange Offer
and are acting solely on the basis of directions of the Company.

3. INADEQUATE SPACE.

    If the space provided is inadequate, the certificate numbers and/or the
number of Old Notes should be listed on a separate signed schedule attached
hereto.

4. TENDER BY HOLDER.

    Only a Holder of Old Notes may tender such Old Notes in the Exchange Offer.
Any beneficial owner of Old Notes who is not the registered Holder and who
wishes to tender should arrange with such registered Holder to execute and
deliver this Letter of Transmittal on such beneficial owner's behalf or must,
prior to completing and executing this Letter of Transmittal and delivering his
or her Old Notes, either make appropriate arrangements to register ownership of
the Old Notes in such beneficial owner's name or obtain a properly complete bond
power from the registered Holder or properly endorsed certificates representing
such Old Notes.

5. PARTIAL TENDERS; WITHDRAWALS.

    Tenders of Old Notes will be accepted only in integral multiples of $1,000.
If less than the entire principal amount of any Old Notes is tendered, the
tendering Holder should fill in the principal amount tendered in the third
column (B) of the box entitled "Description of 6 7/8% Notes due August 15, 2001"
above. The entire principal amount of any Old Notes delivered to the Exchange
Agent or to the Luxembourg Exchange Agent will be deemed to have been tendered
unless otherwise

                                       13
<PAGE>
indicated. If the entire principal amount of all Old Notes is not tendered, then
Old Notes for the principal amount of Old Notes not tendered and a certificate
or certificates representing New Notes issued in exchange for any Old Notes
accepted will be sent to the Holder at his or her registered address, unless a
different address is provided in the "Special Delivery Instructions" box above
on this Letter of Transmittal or unless tender is made through DTC, promptly
after the Old Notes are accepted for exchange.

    Except as otherwise provided herein, tenders of Old Notes may be withdrawn
at any time prior to 5:00 p.m., New York City time, on the Expiration Date. To
withdraw a tender of Old Notes in the Exchange Offer, a written notice (sent by
facsimile transmission, mail or hand delivery) of withdrawal must be received by
the Exchange Agent (or for Luxembourg Holders only, the Luxembourg Exchange
Agent) at its address set forth herein prior to 5:00 p.m., New York City time,
on the Expiration Date. Any such notice of withdrawal must (1) specify the name
of the person having deposited the Old Notes to be withdrawn (the "Depositor"),
(2) identify the Old Notes to be withdrawn (including the certificate number or
numbers and principal amount of such Old Notes, or, in the case of Old Notes
transferred by book-entry transfer, the name and number of the account at DTC to
be credited), (3) be signed by the Depositor in the same manner as the original
signature on the Letter of Transmittal by which such Old Notes were tendered
(including any required signature guarantees) or be accompanied by documents of
transfer sufficient to have the Exchange Agent (or for Luxembourg Holders only,
the Luxembourg Exchange Agent) with respect to the Old Notes register the
transfer of such Old Notes into the name of the person withdrawing the tender,
(4) specify the name in which any such Old Notes are to be registered, if
different from that of the Depositor and (5) state that the Depositor is
withdrawing the election to have such Old Notes tendered. All questions as to
the validity, form and eligibility (including time of receipt) of such notices
will be determined by the Company, whose determination shall be final and
binding on all parties. Any Old Notes so withdrawn will be deemed not to have
been validly tendered for purposes of the Exchange Offer and no New Notes will
be issued with respect thereto unless the Old Notes so withdrawn are validly
retendered. Any Old Notes which have been tendered but which are not accepted
for exchange by the Company will be returned to the Holder thereof without cost
to such Holder as soon as practicable after withdrawal, rejection of tender or
termination of the Exchange Offer. In the case of Old Notes tendered by
book-entry transfer into the Exchange Agent's or the Luxembourg Exchange
Agent's, as appropriate, account at DTC, the Old Notes will be credited to an
account with DTC specified by the Holder. Properly withdrawn Old Notes may be
retendered by following one of the procedures described in the Prospectus under
"The Exchange Offer--Procedures for Tendering Old 6 7/8% Notes" at any time
prior to the Expiration Date.

6. SIGNATURES ON THE LETTER OF TRANSMITTAL; BOND POWERS AND ENDORSEMENTS.

    If this Letter of Transmittal (or facsimile hereof) is signed by the
registered Holder(s) of the Old Notes tendered hereby, the signature must
correspond with the name(s) as written on the face of the Old Note without
alteration, enlargement or any change whatsoever. If any of the Old Notes
tendered hereby are owned of record by two or more joint owners, all such owners
must sign this Letter of Transmittal.

    If a number of Old Notes registered in different names are tendered, it will
be necessary to complete, sign and submit as many copies of this Letter of
Transmittal as there are different registrations of Old Notes.

    If this Letter of Transmittal (or facsimile hereof) is signed by the
registered Holder or Holders (which term, for the purposes described herein,
shall include a book-entry transfer facility whose name appears on a security
listing as the owner of the Old Notes) of Old Notes tendered and the certificate
or certificates for New Notes issued in exchange therefor is to be issued (or
any untendered principal amount of Old Notes to be reissued) to the registered
Holder, then such Holder need not and should not endorse any tendered Old Notes,
nor provide a separate bond power. In any other case, such

                                       14
<PAGE>
Holder must either properly endorse the Old Notes tendered or transmit a
properly completed separate bond power with this Letter of Transmittal with the
signatures on the endorsement or bond power guaranteed by an Eligible
Institution.

    If this Letter of Transmittal (or facsimile hereof) is signed by a person
other than the registered Holder or Holders of any Old Notes listed, such Old
Notes must be endorsed or accompanied by appropriate bond powers in each case
signed as the name of the registered Holder or Holders appears on the Old Notes.
If this Letter of Transmittal (or facsimile hereof) or any Old Notes or bond
powers are signed by trustees, executors, administrators, guardians,
attorneys-in-fact, or officers of corporations or others acting in a fiduciary
or representative capacity, such persons should so indicate when signing, and
unless waived by the Company, evidence satisfactory to the Company of their
authority so to act must be submitted with this Letter of Transmittal.

    Endorsement on Old Notes or signatures on bond powers required by this
Instruction 6 must be guaranteed by an Eligible Institution.

7. SPECIAL REGISTRATION AND DELIVERY INSTRUCTIONS.

    Tendering Holders should indicate, in the applicable box or boxes, the name
and address to which New Notes or substitute Old Notes for principal amounts not
tendered or not accepted for exchange are to be issued or sent, if different
from the name and address of the person signing this Letter of Transmittal. In
the case of issuance in a different name, the taxpayer identification or social
security number of the person named must also be indicated.

8. U.S. BACKUP TAX WITHHOLDING AND INTERNAL REVENUE SERVICE FORM W-9.

    Under the federal income tax laws, payments that may be made by the Company
on account of New Notes issued pursuant to the Exchange Offer may be subject to
backup withholding at the rate of 31%. In order to avoid such backup
withholding, each tendering Holder should complete and sign the Substitute Form
W-9 included in this Letter of Transmittal and either (a) provide the correct
taxpayer identification number ("TIN") and certify, under penalties of perjury,
that the TIN provided is correct and that (1) the Holder has not been notified
by the Internal Revenue Service (the "IRS") that the Holder is subject to backup
withholding as a result of failure to report all interest or dividends or
(2) the IRS has notified the Holder that the Holder is no longer subject to
backup withholding; or (b) provide an adequate basis for exemption. If the
tendering Holder has not been issued a TIN and has applied for one, or intends
to apply for one in the near future, such Holder should write "Applied For" in
the space provided for the TIN in Part I of the Substitute Form W-9, sign and
date the Substitute Form W-9 and sign the Certificate of Payee Awaiting Taxpayer
Identification Number. If "Applied For" is written in Part I, the Company (or
the Exchange Agent under the Indenture governing the New Notes) shall retain 31%
of payments made to the tendering Holder during the 60-day period following the
date of the Substitute Form W-9. If the Holder furnishes the Exchange Agent (or
for Luxembourg Holders only, the Luxembourg Exchange Agent) or the Company with
its TIN within 60 days after the date of the Substitute Form W-9, the Company,
the Exchange Agent (or for Luxembourg Holders only, the Luxembourg Exchange
Agent) shall remit such amounts retained during the 60-day period to the Holder
and no further amounts shall be retained or withheld from payments made to the
Holder thereafter. If, however, the Holder has not provided the Exchange Agent
(or for Luxembourg Holders only, the Luxembourg Exchange Agent) or the Company
with its TIN within such 60-day period, the Company, the Exchange Agent (or for
Luxembourg Holders only, the Luxembourg Exchange Agent) shall remit such
previously retained amounts to the IRS as backup withholding. In general, if a
Holder is an individual, the TIN is the social security number of such
individual. If the Exchange Agent (or for Luxembourg Holders only, the
Luxembourg Exchange Agent) or the Company are not provided with the correct TIN,
the Holder may be subject to a $50 penalty imposed by the IRS. Certain Holders
(including, among others, all corporations and certain foreign individuals) are
not

                                       15
<PAGE>
subject to these backup withholding and reporting requirements. In order for a
foreign individual to qualify as an exempt recipient, such Holder must submit a
statement (generally, IRS Form W-8), signed under penalties of perjury,
attesting to that individual's exempt status. For further information concerning
backup withholding and instructions for completing the Substitute Form W-9
(including how to obtain a taxpayer identification number if you do not have one
and how to complete the Substitute Form W-9 if Old Notes are registered in more
than one name), consult the enclosed Guidelines for Certification of Taxpayer
Identification Number on Substitute Form W-9. Failure to complete the Substitute
Form W-9 will not, by itself, cause Old Notes to be deemed invalidly tendered,
but may require the Company, the Exchange Agent (or for Luxembourg Holders only,
the Luxembourg Exchange Agent) to withhold 31% of the amount of any payments
made on account of New Notes. Backup withholding is not an additional federal
income tax. Rather, the federal income tax liability of a person subject to
backup withholding will be reduced by the amount of tax withheld. If withholding
results in an overpayment of taxes, a refund may be obtained from the IRS.

9. TRANSFER TAXES.

    Holders who tender their Old Notes for exchange will not be obligated to pay
any transfer taxes in connection therewith. If, however, certificates
representing New Notes or Old Notes for principal amounts not tendered or
accepted for exchange are to be delivered to, or are to be registered in the
name of, any person other than the registered Holder of the Old Notes tendered
hereby, or if tendered Old Notes are registered in the name of a person other
than the person signing this Letter of Transmittal, or if a transfer tax is
imposed for any reason other than the exchange of Old Notes pursuant to the
Exchange Offer, then the amount of any such transfer taxes (whether imposed on
the registered Holder or on any other persons) will be payable by the tendering
Holder. If satisfactory evidence of payment of such taxes or exemption therefrom
is not submitted with this Letter of Transmittal, the amount of such transfer
taxes will be billed directly to such tendering Holder. See the Prospectus under
"The Exchange Offer--Transfer Taxes."

    Except as provided in this Instruction 9, it will not be necessary for
transfer tax stamps to be affixed to the Old Notes listed in this Letter of
Transmittal.

10. WAIVER OF CONDITIONS.

    The Company reserves the right, in its sole discretion, to amend, waive or
modify specified conditions in the Exchange Offer in the case of any Old Notes
tendered.

11. MUTILATED, LOST, STOLEN OR DESTROYED OLD NOTES.

    Any tendering Holder whose Old Notes have been mutilated, lost, stolen or
destroyed should contact the Exchange Agent (or for Luxembourg Holders only, the
Luxembourg Exchange Agent) at the address indicated herein for further
instructions.

12. REQUESTS FOR ASSISTANCE, COPIES.

    Requests for assistance and requests for additional copies of the Prospectus
or this Letter of Transmittal may be directed to the Exchange Agent (or for
Luxembourg Holders only, to the Luxembourg Exchange Agent) at the address
specified in the Prospectus. Holders may also contact their broker, dealer,
commercial bank, trust company or other nominee for assistance concerning the
Exchange Offer.

                                       16
<PAGE>
                         (DO NOT WRITE IN SPACE BELOW)

<TABLE>
   CERTIFICATE SURRENDERED          OLD NOTES TENDERED             OLD NOTES ACCEPTED
<S>                            <C>                            <C>

</TABLE>

Received
----------------------

Accepted by
-------------------

Checked by
--------------------

Delivery Prepared by
-----------

Checked by
--------------------

Date
-------------------------

                                       17
<PAGE>
                    TO BE COMPLETED BY ALL TENDERING HOLDERS
                              (SEE INSTRUCTION 5)
                   PAYOR'S NAME: BANK ONE TRUST COMPANY, N.A.

<TABLE>
<S>                              <C>                               <C>
SUBSTITUTE                       PART I--Taxpayer Identification       ------------------------
FORM W-9                         Number ("TIN"). Enter your TIN         Social Security Number
DEPARTMENT OF THE                in the appropriate box. For                      or
TREASURY INTERNAL                individuals, this is your Social      ------------------------
REVENUE SERVICE                  Security Number (SSN). For sole       Employer Identification
REQUEST FOR TAXPAYER             proprietors, see the                           Number
IDENTIFICATION NUMBER            Instructions in the enclosed
AND CERTIFICATION                Guidelines. For other entities,
                                 it is your Employer
                                 Identification Number (EIN). If
                                 you do not have a number, see
                                 how to get a TIN in the enclosed
                                 Guidelines.
                                 PART II--For Payees exempt for backup withholding. See Part II of
                                 instructions in the enclosed Guidelines. NOTE: If the account is
                                 in more than one name, see the chart on Page 2 of the enclosed
                                 guidelines on whose number to enter.
                                 PART III--CERTIFICATION--UNDER PENALTIES OF PERJURY, I CERTIFY
                                 THAT:

                                 (1) the number shown on this form is my correct Taxpayer
                                     Identification Number (or I am waiting for a number to be
                                     issued to me).

                                 (2) I am not subject to backup withholding because: (a) I am
                                     exempt from backup withholding, or (b) I have not been
                                     notified by the Internal Revenue Service (the "IRS") that I am
                                     subject to backup withholding as a result of a failure to
                                     report all interest or dividends, or (c) the IRS has notified
                                     me that I am no longer subject to backup withholding.

                                 Signature -------------------  Date ----------------------
CERTIFICATION INSTRUCTIONS--You must cross out item 2 above if you have been notified by the IRS
that you are currently subject to backup withholding because of underreporting interest of
dividends on your tax return. For real estate transactions, item 2 does not apply. For mortgage
interest paid, the acquisition or abandonment of secured property, cancellation of debt,
contributions to an individual retirement arrangement (IRA), and general payments other than
interest and dividends, you are not required to sign the Certification, but you must provide your
correct TIN.
</TABLE>

                                       18
<PAGE>
         CERTIFICATION OF PAYEE AWAITING TAXPAYER IDENTIFICATION NUMBER

    I certify, under penalties of perjury, that a Taxpayer Identification Number
has not been issued to me, and that I mailed or delivered an application to
receive a Taxpayer Identification Number to the appropriate Internal Revenue
Service Center or Social Security Administration Office (or I intend to mail or
deliver an application in the near future). I understand that if I do not
provide a Taxpayer Identification Number to the payor, 31% of all payments made
to me on account of the New Notes shall be retained until I provide a Taxpayer
Identification Number within 60 days, such retained amounts shall be remitted to
the Internal Revenue Service as backup withholding and 31% of all reportable
payments made to me thereafter will be withheld and remitted to the Internal
Revenue Service until I provide a Taxpayer Identification Number.

Signature
-------------------------------------------------  Date
------------------------

NOTE:  FAILURE TO COMPLETE AND RETURN THIS FORM MAY RESULT IN BACKUP WITHHOLDING
       OF 31% OF ANY PAYMENTS MADE TO YOU ON ACCOUNT OF THE NEW NOTES. PLEASE
       REVIEW THE ENCLOSED GUIDELINES FOR CERTIFICATION OF TAXPAYER
       IDENTIFICATION NUMBER ON SUBSTITUTE FORM W-9 FOR ADDITIONAL DETAILS.

                                       19
<PAGE>
                               OFFER TO EXCHANGE

                                 U S WEST, INC.
                         U S WEST CAPITAL FUNDING, INC.
                6 7/8% NOTES DUE AUGUST 15, 2001 WHICH HAVE BEEN
            REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED
                                FOR ANY AND ALL
                  OUTSTANDING 6 7/8% NOTES DUE AUGUST 15, 2001

 THE EXCHANGE OFFER WILL EXPIRE AT 5:00 P.M., NEW YORK CITY TIME ON MARCH 15,
 2000, UNLESS EXTENDED. TENDERS OF 6 7/8% NOTES DUE AUGUST 15, 2001 MAY ONLY BE
 WITHDRAWN UNDER THE CIRCUMSTANCES DESCRIBED IN THE PROSPECTUS AND THE LETTER
 OF TRANSMITTAL.

To Our Clients:

    Enclosed for your consideration is a Prospectus dated February   , 2000 (the
"Prospectus") and the related Letter of Transmittal (the "Letter of
Transmittal"), relating to the offer (the "Exchange Offer") of U S WEST, Inc.
("U S WEST") and U S WEST Capital Funding, Inc. (the "Company") to exchange up
to $1,150,000,000 aggregate principal amount of new 6 7/8% Notes due August 15,
2001, which will be freely transferable (the "New Notes"), for any and all
outstanding 6 7/8% Notes due August 15, 2001, which have certain transfer
restrictions (the "Old Notes"), upon the terms and subject to the conditions
described in the Prospectus and the related Letter of Transmittal. The Exchange
Offer is intended to satisfy certain obligations of the Company contained in the
Registration Rights Agreement dated August 20, 1999, between U S WEST, the
Company and the initial purchasers of the Old Notes.

    This material is being forwarded to you as the beneficial owner of the Old
Notes carried by us for your account but not registered in your name. A TENDER
OF SUCH OLD NOTES MAY ONLY BE MADE BY US AS THE HOLDER OF RECORD AND PURSUANT TO
YOUR INSTRUCTIONS.

    Accordingly, we request instructions as to whether you wish us to tender on
your behalf the Old Notes held by us for account, pursuant to the terms and
conditions set forth in the enclosed Prospectus and Letter of Transmittal.

    Please forward your instructions to us as promptly as possible in order to
permit us to tender the Old Notes on your behalf in accordance with the
provisions of the Exchange Offer. The Exchange Offer will expire at 5:00 p.m.,
New York City time, on March 15, 2000 (the "Expiration Date"), unless extended
by the Company. Any Old Notes tendered pursuant to the Exchange Offer may be
withdrawn at any time before 5:00 p.m., New York City time, on the Expiration
Date.

    Your attention is directed to the following:

    1.  The Exchange Offer is for any and all Old Notes.

    2.  The Exchange Offer is subject to certain conditions set forth in the
       Prospectus in the section captioned "The Exchange Offer--Conditions of
       the Exchange Offer."

    3.  The Exchange Offer expires at 5:00 p.m., New York City time, on the
       Expiration Date, unless extended by the Company.

    If you wish to have us tender your Old Notes, please so instruct us by
completing, executing and returning to us the instruction form on the back of
this letter.

    THE LETTER OF TRANSMITTAL IS FURNISHED TO YOU FOR INFORMATION ONLY AND MAY
NOT BE USED DIRECTLY BY YOU TO TENDER OLD NOTES.
<PAGE>
                INSTRUCTIONS WITH RESPECT TO THE EXCHANGE OFFER

    The undersigned acknowledge(s) receipt of this letter and the enclosed
materials referred to therein relating to the Exchange Offer made by the Company
with respect to the Old Notes.

    This will instruct you to tender the Old Notes held by you for the account
of the undersigned, upon and subject to terms and conditions set forth in the
Prospectus and the related Letter of Transmittal.

    Please tender the Old Notes held by you for the account of the undersigned
as indicated below:

<TABLE>
<CAPTION>
                                                  AGGREGATE PRINCIPAL AMOUNT OF OLD NOTES
                                                  ---------------------------------------
<S>                                            <C>

6 7/8% Notes due August 15, 2001.............   -------------------------------------------

/ /  Please do not tender any Old Notes held
     by you for the account of the
     undersigned.

Dated: , 2000                                   -------------------------------------------
                                                -------------------------------------------
                                                               Signature(s)

                                                -------------------------------------------
                                                -------------------------------------------
                                                -------------------------------------------
                                                         Please print name(s) here

                                                -------------------------------------------
                                                -------------------------------------------
                                                                Address(es)

                                                -------------------------------------------
                                                   Area Code(s) and Telephone Number(s)

                                                -------------------------------------------
                                               Tax Identification or Social Security No(s).
</TABLE>

    NONE OF THE OLD NOTES HELD BY US FOR YOUR ACCOUNT WILL BE TENDERED UNLESS WE
RECEIVE WRITTEN INSTRUCTIONS FROM YOU TO DO SO. UNLESS A SPECIFIC CONTRARY
INSTRUCTION IS GIVEN IN THE SPACE PROVIDED, YOUR SIGNATURE(S) HEREON SHALL
CONSTITUTE AN INSTRUCTION TO US TO TENDER ALL THE OLD NOTES HELD BY US FOR YOUR
ACCOUNT.

                                       2
<PAGE>
                               OFFER TO EXCHANGE

                                 U S WEST, INC.
                           U S CAPITAL FUNDING, INC.
                        6 7/8% NOTES DUE AUGUST 15, 2001
                                FOR ANY AND ALL
                  OUTSTANDING 6 7/8% NOTES DUE AUGUST 15, 2001

 THE EXCHANGE OFFER WILL EXPIRE AT 5:00 P.M., NEW YORK CITY TIME ON MARCH 15,
 2000, UNLESS EXTENDED. TENDERS OF 6 7/8% NOTES DUE AUGUST 15, 2001 MAY ONLY BE
 WITHDRAWN UNDER THE CIRCUMSTANCES DESCRIBED IN THE PROSPECTUS AND THE LETTER
 OF TRANSMITTAL.

To:  Brokers, Dealers, Commercial Banks, Trust Companies and Other Nominees:

    U S WEST, Inc. ("U S WEST") and U S WEST Capital Funding, Inc. (the
"Company") hereby offer to exchange (the "Exchange Offer"), upon and subject to
the terms and conditions set forth in the Prospectus dated February   , 2000
(the "Prospectus") and the enclosed Letter of Transmittal (the "Letter of
Transmittal"), up to $1,150,000,000 aggregate principal amount of new 6 7/8%
Notes due August 15, 2001, which will be freely transferable (the "New Notes"),
for any and all outstanding 6 7/8% Notes due August 15, 2001, which have certain
transfer restrictions (the "Old Notes"). The Exchange Offer is intended to
satisfy certain obligations of the Company contained in the Registration Rights
Agreement dated August 20, 1999, between U S WEST, the Company and the initial
purchasers of the Old Notes.

    We are requesting that you contact your clients for whom you hold Old Notes
regarding the Exchange Offer. For your information and for forwarding to your
clients for whom you hold Old Notes registered in your name or in the name of
your nominee, or who hold Old Notes registered in their own names, we are
enclosing the following documents:

    1.  Prospectus dated February   , 2000;

    2.  The Letter of Transmittal for your use and for the information of your
       clients;

    3.  A Notice of Guaranteed Delivery to be used to accept the Exchange Offer
       if certificates for Old Notes are not immediately available or time will
       not permit all required documents to reach the principal exchange agent,
       Bank One Trust Company, National Association (the "Exchange Agent") (or
       for those clients that are Luxembourg holders ("Luxembourg Holders")
       only, Kredietbank Luxembourgeoise S.A. (the "Luxembourg Exchange Agent"))
       prior to the Expiration Date (as defined below) or if the procedure for
       book-entry transfer cannot be completed on a timely basis;

    4.  A form of letter which may be sent to your clients for whose account you
       hold Old Notes registered in your name or the name of your nominee, with
       space provided for obtaining such clients' instructions with regard to
       the Exchange Offer;

    5.  Guidelines for Certification of Taxpayer Identification Number on
       Substitute Form W-9; and

    6.  Return envelopes addressed to the Exchange Agent (or for Luxembourg
       Holders only, to the Luxembourg Exchange Agent) for the Old Notes.

    YOUR PROMPT ACTION IS REQUESTED. THE EXCHANGE OFFER WILL EXPIRE AT 5:00
P.M., NEW YORK CITY TIME, ON MARCH 15, 2000 (THE "EXPIRATION DATE"), UNLESS
EXTENDED BY THE COMPANY. ANY OLD NOTES TENDERED PURSUANT TO THE EXCHANGE OFFER
MAY BE WITHDRAWN AT ANY TIME BEFORE 5:00 P.M., NEW YORK CITY TIME, ON THE
EXPIRATION DATE.

                                       1
<PAGE>
    To participate in the Exchange Offer, a duly executed and properly completed
Letter of Transmittal (or facsimile thereof), with any required signature
guarantees and any other required documents, must be sent to the Exchange Agent
(or for Luxembourg Holders only, to the Luxembourg Exchange Agent) and
certificates representing the Old Notes must be delivered to the Exchange Agent
(or for Luxembourg Holders only, to the Luxembourg Exchange Agent), all in
accordance with the instructions set forth in the Letter of Transmittal and the
Prospectus.

    If holders of Old Notes wish to tender, but it is impracticable for them to
forward their certificates for Old Notes prior to the expiration of the Exchange
Offer or to comply with the book-entry transfer procedures on a timely basis, a
tender may be effected by following the guaranteed delivery procedures described
in the Prospectus under "The Exchange Offer--Guaranteed Delivery Procedures."

    Any inquiries you may have with respect to the Exchange Offer or requests
for additional copies of the enclosed materials should be directed to the
Exchange Agent (or for Luxembourg Holders only, to the Luxembourg Exchange
Agent) for the Old Notes, at its address and telephone numbers set forth on the
front of the Letter of Transmittal.

                                          Very truly yours,

                                          U S WEST, Inc.

                                          U S WEST Capital Funding, Inc.

    NOTHING HEREIN OR IN THE ENCLOSED DOCUMENTS SHALL CONSTITUTE YOU OR ANY
OTHER PERSON AS AN AGENT OF THE COMPANY, U S WEST, THE EXCHANGE AGENT OR THE
LUXEMBOURG EXCHANGE AGENT, OR AUTHORIZE YOU OR ANY OTHER PERSON TO USE ANY
DOCUMENT OR MAKE ANY STATEMENTS ON BEHALF OF ANY OF THEM WITH RESPECT TO THE
EXCHANGE OFFER, EXCEPT FOR STATEMENTS EXPRESSLY MADE IN THE PROSPECTUS OR THE
LETTER OF TRANSMITTAL.

Enclosures

                                       2
<PAGE>
                         NOTICE OF GUARANTEED DELIVERY
                                      FOR
                        6 7/8% NOTES DUE AUGUST 15, 2001
                                       OF
                                 U S WEST, INC.
                         U S WEST CAPITAL FUNDING, INC.

    As set forth in the Prospectus dated February   , 2000 (the "Prospectus") of
U S WEST, Inc. ("U S WEST") and U S WEST Capital Funding, Inc. (the "Company")
and in the Letter of Transmittal (the "Letter of Transmittal"), this form or a
form substantially equivalent to this form must be used to accept the Exchange
Offer (as defined below) if the certificates for the outstanding 6 7/8% Notes
due August 15, 2001 (the "Old Notes") of the Company and all other documents
required by the Letter of Transmittal cannot be delivered to the Exchange Agent
(as defined below) (or for Luxembourg Holders only, to the Luxembourg Exchange
Agent (as defined below)) by the expiration of the Exchange Offer or compliance
with book-entry transfer procedures cannot be effected on a timely basis. Such
form may be delivered by hand or transmitted by facsimile transmission, mail or
overnight courier to the Exchange Agent (or for Luxembourg Holders only, to the
Luxembourg Exchange Agent) no later than the Expiration Date, and must include a
signature guarantee by an eligible guarantor institution as set forth below.

 THE EXCHANGE OFFER WILL EXPIRE AT 5:00 P.M., NEW YORK CITY TIME ON MARCH 15,
 2000 (THE "EXPIRATION DATE"), UNLESS EXTENDED. TENDERS OF 6 7/8% NOTES DUE
 AUGUST 15, 2001 MAY ONLY BE WITHDRAWN UNDER THE CIRCUMSTANCES DESCRIBED IN THE
 PROSPECTUS AND THE LETTER OF TRANSMITTAL.

   TO: BANK ONE TRUST COMPANY, NATIONAL ASSOCIATION (THE PRINCIPAL "EXCHANGE
                                    AGENT"),
           OR FOR HOLDERS IN LUXEMBOURG ("LUXEMBOURG HOLDERS") ONLY,
      KREDIETBANK LUXEMBOURGEOISE S.A. (THE "LUXEMBOURG EXCHANGE AGENT"):

                  BANK ONE TRUST COMPANY, NATIONAL ASSOCIATION

<TABLE>
<CAPTION>

<S>                                            <C>
                  BY MAIL:                          BY HAND, OVERNIGHT MAIL OR COURIER:

Bank One Trust Company, National Association   Bank One Trust Company, National Association
            Attention: Exchanges                           Attention: Exchanges
       Global Corporate Trust Services                Global Corporate Trust Services
              1 Bank One Plaza,                           One North State Street,
            Mail Suite 1L 1-0122                                9(th) Floor
           Chicago, IL 60670-0122                            Chicago, IL 60602
                     or                                             or
Bank One Trust Company, National Association   Bank One Trust Company, National Association
            Attention: Exchanges                           Attention: Exchanges
       Global Corporate Trust Services                Global Corporate Trust Services
         14 Wall Street, 8(th) Floor                    14 Wall Street, 8(th) Floor
             New York, NY 10005                             New York, NY 10005

                BY FACSIMILE:                         FOR INFORMATION OR CONFIRMATION
               (312) 407-8853                                  BY TELEPHONE:
            Attention: Exchanges                              (800) 524-9472
</TABLE>

<PAGE>
                        KREDIETBANK LUXEMBOURGEOISE S.A.

                                    BY MAIL:
                        Kredietbank S.A. Luxembourgeoise
                               43 Boulevard Royal
                              L - 2955, Luxembourg

                        FOR INFORMATION OR CONFIRMATION
                                 BY TELEPHONE:
                               (352) 47 97 39 35

                                 BY FACSIMILE:
                               (352) 47 97 73 951

    DELIVERY OF THIS INSTRUMENT TO AN ADDRESS OR TRANSMISSION TO A FACSIMILE
NUMBER OTHER THAN AS SET FORTH ABOVE DOES NOT CONSTITUTE A VALID DELIVERY. THE
METHOD OF DELIVERY OF ALL DOCUMENTS, INCLUDING CERTIFICATES, IS AT THE RISK OF
THE HOLDER. IF DELIVERY IS BY MAIL, REGISTERED MAIL WITH RETURN RECEIPT
REQUESTED, PROPERLY INSURED, IS RECOMMENDED. YOU SHOULD READ THE INSTRUCTIONS
ACCOMPANYING THE LETTER OF TRANSMITTAL CAREFULLY BEFORE YOU COMPLETE THIS
GUARANTEED DELIVERY.

    This Notice of Guaranteed Delivery is not to be used to guarantee
signatures. If a signature on a Letter of Transmittal is required to be
guaranteed by an eligible guarantor institution under the instructions thereto,
such signature must appear in the applicable space provided on the Letter of
Transmittal for Guarantee of Signature(s).

                                       2
<PAGE>
Ladies and Gentlemen:

    The undersigned acknowledges receipt of the Prospectus and the related
Letter of Transmittal which describes the Company's offer (the "Exchange Offer")
to exchange $1,000 in principal amount of new 6 7/8% Notes due August 15, 2001
(the "New Notes") for each $1,000 in principal amount of Old Notes.

    The undersigned hereby tenders to the Company the aggregate principal amount
of Old Notes set forth below on the terms and conditions set forth in the
Prospectus and the related Letter of Transmittal pursuant to the guaranteed
delivery procedures set forth in "The Exchange Offer--Guaranteed Delivery
Procedures" section in the Prospectus and the accompanying Letter of
Transmittal.

    The undersigned understands that no withdrawal of a tender of Old Notes may
be made after 5:00 p.m., New York City time, on the Expiration Date. The
undersigned understands that for a withdrawal of a tender of Old Notes to be
effective, a written notice of withdrawal that complies with the requirements of
the Exchange Offer must be timely received by the Exchange Agent (or for
Luxembourg Holders only, the Luxembourg Exchange Agent) at its address specified
on the cover of this Notice of Guaranteed Delivery prior to 5:00 p.m., New York
City time, on the Expiration Date.

    The undersigned understands that the exchange of Old Notes for New Notes
pursuant to the Exchange Offer will be made only after timely receipt by the
Exchange Agent (or for Luxembourg Holders only, the Luxembourg Exchange Agent)
of (1) such Old Notes (or book-entry confirmation of the transfer of such Old
Notes into the Exchange Agent's or the Luxembourg Exchange Agent's, as
appropriate, account at The Depository Trust Company ("DTC")) and (2) a Letter
of Transmittal (or facsimile thereof) with respect to such Old Notes, properly
completed and duly executed, with any required signature guarantees, this Notice
of Guaranteed Delivery and any other documents required by the Letter of
Transmittal or a properly transmitted Agent's Message. The term "Agent's
Message" means a message transmitted by DTC to, and received by, the Exchange
Agent or the Luxembourg Exchange Agent, as appropriate, and forming part of the
confirmation of a book-entry transfer, which states that DTC has received an
express acknowledgment from a participant in DTC tendering the Old Notes and
that such participant has received the Letter of Transmittal and agrees to be
bound by the terms of the Letter of Transmittal and the Company may enforce such
agreement against such participant.

    All authority conferred or agreed to be conferred by this Notice of
Guaranteed Delivery shall not be affected by, and shall survive, the death or
incapacity of the undersigned, and every obligation of the undersigned under
this Notice of Guaranteed Delivery shall be binding on the heirs, executors,
administrators, trustees in bankruptcy, personal and legal representatives,
successors and assigns of the undersigned.

                                       3
<PAGE>
                                PLEASE COMPLETE

<TABLE>
<S>                                            <C>
                                               If Old Notes will be delivered by book-entry
                                               transfer at DTC, insert Depository Account
Principal Amount of Old Notes Tendered:        No.:

-------------------------------------------    -------------------------------------------

Certificate No.(s) of Old Notes (if
available):

-------------------------------------------
</TABLE>

                                       4
<PAGE>
                 PLEASE SIGN AND PRINT NAME(S) AND ADDRESS(ES)

<TABLE>
<S>                                            <C>
Signature(s) of Registered Holder(s) or        Name(s) of Registered Holder(s)
Authorized Signatory:

-------------------------------------------    -------------------------------------------
-------------------------------------------    -------------------------------------------
-------------------------------------------    -------------------------------------------

Date:                                          Address(es): -------------------------------

-------------------------------------------    -------------------------------------------

                                               Area Code and Telephone No.:

                                               -------------------------------------------
</TABLE>

    This Notice of Guaranteed Delivery must be signed by the registered
holder(s) of Old Notes exactly as its (their) name(s) appear on certificates for
Old Notes or on a security position listing as the owner of Old Notes, or by
person(s) authorized to become registered holder(s) by endorsements and
documents transmitted with this Notice of Guaranteed Delivery. If signature is
by a trustee, executor, administrator, guardian, attorney-in-fact, officer or
other person acting in a fiduciary or representative capacity, such person must
provide the following information.

Name(s):
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

Capacity:
--------------------------------------------------------------------------------

Address(es):
-------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

DO NOT SEND OLD NOTES WITH THIS FORM. OLD NOTES SHOULD BE SENT TO THE EXCHANGE
AGENT (OR FOR LUXEMBOURG HOLDERS ONLY, TO THE LUXEMBOURG EXCHANGE AGENT)
TOGETHER WITH A PROPERLY COMPLETED AND DULY EXECUTED LETTER OF TRANSMITTAL.

                                       5
<PAGE>
                                   GUARANTEE
                    (NOT TO BE USED FOR SIGNATURE GUARANTEE)

    The undersigned, a member firm of a registered national securities exchange
or of the National Association of Securities Dealers, Inc. or a commercial bank
or trust company having an office or a correspondent in the United States, or
otherwise an "eligible guarantor institution" within the meaning of
Rule 17Ad-15 under the Securities Exchange Act of 1934, as amended (the
"Exchange Act"), hereby (1) represents that each holder of Old Notes on whose
behalf this tender is being made "own(s)" the Old Notes covered hereby within
the meaning of Rule 13d-3 under the Exchange Act (2) represents that such tender
of Old Notes complies with Rule 14e-4 of the Exchange Act and (3) guarantees
that, within five New York Stock Exchange trading days after the date of signing
of the Notice of Guaranteed Delivery, a properly completed and duly executed
Letter of Transmittal (or a facsimile thereof), together with certificates
representing the Old Notes covered hereby in proper form for transfer (or
confirmation of the book-entry transfer of such Old Notes into the Exchange
Agent's or the Luxembourg Exchange Agent's, as appropriate, account at DTC,
pursuant to the procedure for book-entry transfer set forth in the Prospectus)
and required documents will be deposited by the undersigned with the Exchange
Agent (or for Luxembourg Holders only, the Luxembourg Exchange Agent).

    The undersigned acknowledges that it must deliver the Letter of Transmittal
and Old Notes tendered hereby to the Exchange Agent (or for Luxembourg Holders
only, to the Luxembourg Exchange Agent) within the time period set forth above
and the failure to do so could result in financial loss to the undersigned.

--------------------------------------------------------------------------------

                                  Name of Firm

--------------------------------------------------------------------------------

                                    Address

Area Code and Telephone No:
------------------------------------------------------------

--------------------------------------

         Authorized Signature

--------------------------------------

                Title

Name:
--------------------------------------

        (Please Type or Print)

Dated:
--------------------------------------

PLEASE DO NOT SEND CERTIFICATES FOR OLD NOTES WITH THIS FORM. CERTIFICATES FOR
OLD NOTES SHOULD ONLY BE SENT WITH YOUR LETTER OF TRANSMITTAL.

                                       6
<PAGE>
            GUIDELINES FOR CERTIFICATION OF TAXPAYER IDENTIFICATION
                         NUMBER ON SUBSTITUTE FORM W-9

    GUIDELINES FOR DETERMINING THE PROPER IDENTIFICATION NUMBER TO GIVE THE
PAYER.--Social Security numbers have nine digits separated by two hyphens: i.e.,
000-00-0000. Employer identification numbers have nine digits separated by only
one hyphen: i.e., 00-0000000. The table below will help determine the number to
give the payer.

<TABLE>
<CAPTION>
-------------------------------------------------------------------------------
<C>                     <S>  <C>                       <C>
FOR THIS TYPE OF ACCOUNT:                              GIVE THE SOCIAL SECURITY
                                                       NUMBER OF:

<CAPTION>
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
                                                       GIVE THE EMPLOYER
FOR THIS TYPE OF ACCOUNT:                              IDENTIFICATION
                                                       NUMBER OF:
-------------------------------------------------------------------------------
                   1.   An individual's account        The individual
<C>                     <S>  <C>                       <C>

                   2.   Two or more individuals        The actual owner of the
                        (joint account)                account or, if combined
                                                       funds, the first
                                                       individual on the
                                                       account(1)

                   3.   Husband and wife (joint        The actual owner of the
                        account)                       account or, if joint
                                                       funds, the first
                                                       individual on the
                                                       account(1)

                   4.   Custodian account of a minor   The minor(2)
                        (Uniform Gift to Minors Act)

                   5.   Adult and minor (joint         The adult or, if the
                        account)                       minor is the only
                                                       contributor, the
                                                       minor(1)

                   6.   Account in the name of         The ward, minor, or
                        guardian or committee for a    incompetent person(3)
                        designated ward, minor, or
                        incompetent person

                   7.   (a)  The usual revocable       The grantor-trustee(1)
                             savings trust account
                             (grantor is also
                             trustee)

                        (b)  So-called trust account   The actual owner(1)
                             that is not a legal or
                             valid trust under State
                             law

                   8.   Sole proprietorship account    The owner(4)

                   9.   A valid trust, estate, or      The legal entity (Do not
                        pension trust                  furnish the identifying
                                                       number of the personal
                                                       representative or
                                                       trustee unless the legal
                                                       entity itself is not
                                                       designated in the
                                                       account title.)(5)

                  10.   Corporate account              The corporation

                  11.   Religious, charitable, or      The organization
                        educational organization
                        account

                  12.   Partnership account held in    The partnership
                        the name of the business

                  13.   Association, club, or other    The organization
                        tax-exempt organization

                  14.   A broker or registered         The broker or nominee
                        nominee

                  15.   Account with the Department    The public entity
                        of Agriculture in the name of
                        a public entity (such as a
                        State or local government,
                        school district, or prison)
                        that receives agricultural
                        program payments
</TABLE>

<TABLE>
<CAPTION>
-------------------------------------------------------------------------------
<C>                     <S>  <C>                       <C>
-------------------------------------------------------------------------------
</TABLE>

(1) List first and circle the name of the person whose number you furnish.

(2) Circle the minor's name and furnish the minor's social security number.

(3) Circle the ward's, minor's or incompetent person's name and furnish such
    person's social security number.

(4) Show the name of the owner.

(5) List first and circle the name of the legal trust, estate, or pension trust.

NOTE: If no name is circled when there is more than one name, the number will be
considered to be that of the first name listed.
<PAGE>
            GUIDELINES FOR CERTIFICATION OF TAXPAYER IDENTIFICATION
                         NUMBER ON SUBSTITUTE FORM W-9
                                     PAGE 2

OBTAINING A NUMBER

If you don't have a taxpayer identification number or you don't know your
number, obtain Form SS-5, Application for a Social Security Number Card (for
individuals), or Form SS-4, Application for Employer Identification Number (for
businesses and all other entities), at the local office of the Social Security
Administration or the Internal Revenue Service and apply for a number.

PAYEES EXEMPT FROM BACKUP WITHHOLDING

Payees specifically exempted from backup withholding on ALL payments include the
following (Section references are to the Internal Revenue Code):

    - A corporation.

    - A financial institution.

    - An organization exempt from tax under section 501(a), or an individual
      retirement plan, or a custodial account under Section 403(b)(7).

    - The United States or any agency or instrumentality thereof.

    - A State, the District of Columbia, a possession of the United States, or
      any subdivision or instrumentality thereof.

    - A foreign government, a political subdivision of a foreign government, or
      any agency or instrumentality thereof.

    - An international organization or any agency, or instrumentality thereof.

    - A registered dealer in securities or commodities registered in the U.S. or
      a possession of the U.S.

    - A real estate investment trust.

    - A common trust fund operated by a bank under section 584(a).

    - An exempt charitable remainder trust, or a non-exempt trust described in
      section 4947(a)(1).

    - An entity registered at all times under the Investment Company Act of
      1940.

    - A foreign central bank of issue.

Payments of dividends and patronage dividends not generally subject to backup
withholding include the following:

    - Payments to nonresident aliens subject to withholding under section 1441.

    - Payments to partnerships not engaged in a trade or business in the U.S.
      and which have at least one nonresident partner.

    - Payments of patronage dividends where the amount received is not paid in
      money.

    - Payments made by certain foreign organizations.

    - Payments made to a nominee.

Payments of interest not generally subject to backup withholding include the
following:

    - Payments of interest on obligations issued by individuals.

        NOTE: You may be subject to backup withholding if this interest is $600
        or more and is paid in the course of the payer's trade or business and
        you have not provided your correct taxpayer identification number to the
        payer.

    - Payments of tax-exempt interest (including exempt-interest dividends under
      section 852).

    - Payments described in section 6049(b)(5) to nonresident aliens.

    - Payments on tax-free government bonds under section 1451.

    - Payments made by certain foreign organizations.

    - Payments made to a nominee.

Exempt payees described above should file a Substitute Form W-9 to avoid
possible erroneous backup withholding.

FILE THIS FORM WITH THE PAYER, FURNISH YOUR TAXPAYER IDENTIFICATION NUMBER,
WRITE "EXEMPT" ON THE FACE OF THE FORM, SIGN AND DATE THE FORM AND RETURN IT TO
THE PAYER.

Certain payments other than interest, dividends, and patronage dividends, that
are not subject to information reporting are also not subject to backup
withholding. For details, see sections 6041, 6041A(a), 6042, 6044, 6045, 6049,
6050A, and 6050N, and the regulations under those sections.

PRIVACY ACT NOTICE.  Section 6109 requires most recipients of dividend,
interest, or other payments to give taxpayer identification numbers to payers
who must report the payments to IRS. The IRS uses the numbers for identification
purposes and to help verify the accuracy of tax returns. Payers must be given
the numbers whether or not recipients are required to file a tax return. Payers
must generally withhold 31% of taxable interest, dividend, and certain other
payments to a payee who does not furnish a taxpayer identification number to a
payer. Certain penalties may also apply.

PENALTIES

(1) PENALTY FOR FAILURE TO FURNISH TAXPAYER IDENTIFICATION NUMBER.--If you fail
    to furnish your taxpayer identification number to a payer, you are subject
    to a penalty of $50 for each such failure unless your failure is due to
    reasonable cause and not to willful neglect.

(2) FAILURE TO REPORT CERTAIN DIVIDEND AND INTEREST PAYMENTS.--If you fail to
    include any portion of an includible payment for interest, dividends or
    patronage dividends in gross income, such failure is strong evidence of
    negligence. If negligence is shown, you will be subject to a penalty of 20%
    on any portion of an underpayment attributable to that failure.

(3) CIVIL PENALTY FOR FALSE INFORMATION WITH RESPECT TO WITHHOLDING.--If you
    make a false statement with no reasonable basis which results in no
    imposition of backup withholding, you are subject to a penalty of $500.

(4) CRIMINAL PENALTY FOR FALSIFYING INFORMATION.--Willfully falsifying
    certifications or affirmations may subject you to criminal penalties
    including fines and/or imprisonment.

FOR ADDITIONAL INFORMATION CONTACT YOUR TAX CONSULTANT OR THE INTERNAL REVENUE
SERVICE.<PAGE>

                                                                  Exhibit 4.2

                   CERTIFICATE OF DESIGNATION OF VOTING POWER,
                            PREFERENCES AND RELATIVE,
                           PARTICIPATING, OPTIONAL AND
                              OTHER SPECIAL RIGHTS
                AND QUALIFICATIONS, LIMITATIONS AND RESTRICTIONS

                                       OF

                    ___% JUNIOR EXCHANGEABLE PREFERRED STOCK

                                       OF

                           RURAL CELLULAR CORPORATION

                               ------------------

                       Pursuant to Section 302A.401 of the
                       Minnesota Business Corporation Act

                               ------------------

                  Rural Cellular Corporation, a Minnesota corporation (the
"Company") certifies that pursuant to the authority contained in ARTICLE VI
of its Articles of Incorporation, as amended (the "Articles of
Incorporation"), and in accordance with the provisions of Section 302A.401 of
the Minnesota Business Corporation Act, the Board of Directors of the Company
(the "Board of Directors") at a meeting duly called and held on January 3,
2000, duly approved and adopted the following resolution which resolution
remains in full force and effect on the date hereof:

                  RESOLVED, that pursuant to the authority vested in the
Board of Directors by the Articles of Incorporation, the Board of Directors
does hereby designate, create, authorize and provide for the issue of
preferred stock having a par value of $.01 per share, which shall be
designated as     % Junior Exchangeable Preferred Stock (the "Exchangeable
Preferred Stock") consisting of 320,000 shares which shall include 110,000
shares issued pursuant to the Registration Statement and an additional 50,000
shares reserved for possible future issuance from time to time and shall have
the voting powers, preferences and relative participating, optional and other
special rights, and qualifications, limitations and restrictions thereon as
follows:

<PAGE>

         1.       CERTAIN DEFINITIONS.

         Unless the context otherwise requires, the terms defined in this
SECTION 1 shall have, for all purposes of this resolution, the meanings
herein specified (with terms defined in the singular having comparable
meanings when used in the plural).

         "ACQUIRED INDEBTEDNESS" means Indebtedness of a Person (including an
Unrestricted Subsidiary) (i) existing at the time such Person becomes a
Restricted Subsidiary or (ii) assumed in connection with the acquisition of
assets from such Person, in the case of both of the preceding clause (i) and
clause (ii), other than Indebtedness incurred in connection with, or in
contemplation of, such Person becoming a Restricted Subsidiary or such
acquisition. Acquired Indebtedness will be deemed to be Incurred on the date
of the related acquisition of assets from any Person or the date the acquired
Person becomes a Restricted Subsidiary.

         "ACQUIRED PERSON" has the meaning specified in the definition of
Permitted Investment.

         "ADDITIONAL SHARES" means 50,000 shares of Exchangeable Preferred
Stock authorized by this Certificate of Designation which are not being
issued on the Issue Date but which are reserved for issuance from time to
time after the Issue Date, other than Dividend Shares.

         "ADJUSTED ANNUALIZED OPERATING CASH FLOW RATIO" of any Person means
the Annualized Operating Cash Flow Ratio of such Person as adjusted to treat
all Preferred Stock of such Person as Redeemable Stock.

         "AFFILIATE" of any Person means any other Person directly or
indirectly controlling or controlled by or under direct or indirect common
control with such Person. For the purposes of this definition, "control" when
used with respect to any Person means the power to direct the management and
policies of such Person, directly or indirectly, whether through the
ownership of voting securities, by contract or otherwise; and the terms
"controlling" and "controlled" have meanings correlative to the foregoing.

         "ANNUALIZED OPERATING CASH FLOW" of any Person means the Operating
Cash Flow of such Person for the Reference Period multiplied by two.

         "ANNUALIZED OPERATING CASH FLOW RATIO" of any Person on any date
(the "Transaction Date") means, with respect to any Person and its Restricted
Subsidiaries, the ratio of (i) Consolidated Indebtedness of such Person and
its Restricted Subsidiaries on the Transaction Date (after giving pro forma
effect to the Incurrence of any Indebtedness on such Transaction Date)
divided by (ii) the aggregate amount of Annualized Operating Cash

                                        2

<PAGE>

Flow of such Person (determined on a pro forma basis after giving effect to
all dispositions of businesses made by such Person and its Restricted
Subsidiaries from the beginning of the Reference Period through the
Transaction Date as if such dispositions had occurred at the beginning of
such Reference Period); PROVIDED that for purposes of such computation, in
calculating Annualized Operating Cash Flow and Consolidated Indebtedness: (i)
the transaction giving rise to the need to calculate the Annualized Operating
Cash Flow Ratio will be assumed to have occurred (on a pro forma basis) on
the first day of the Reference Period; (ii) the incurrence of any
Indebtedness during the Reference Period or subsequent thereto and on or
prior to the Transaction Date (and the application of the proceeds therefrom
to the extent used to retire Indebtedness) will be assumed to have occurred
(on a pro forma basis) on the first day of such Reference Period; (iii)
Consolidated Interest Expense attributable to any Indebtedness (whether
existing or being incurred) bearing a floating interest rate shall be
computed as if the rate in effect on the Transaction Date had been the
applicable rate for the entire Reference Period; (iv) all members of the
consolidated group of such Person on the Transaction Date that were acquired
during the Reference Period shall be deemed to be members of the consolidated
group of such Person for the entire Reference Period and (v) the Indebtedness
and Annualized Operating Cash Flow of any Restricted Subsidiary that is not a
Wholly Owned Restricted Subsidiary shall be determined in accordance with the
actual percentage of the Person's common equity interest in such Restricted
Subsidiary on the date of determination of the Annualized Operating Cash Flow
Ratio (thus, for example, in the case of a Restricted Subsidiary in which
such Person owns a 51% common equity interest, 51% of such Subsidiary's
Indebtedness and of such Subsidiary's Annualized Operating Cash Flow would be
included in the calculation of such Person's aggregate Indebtedness and
Annualized Operating Cash Flow, respectively. When the foregoing definition
is used in connection with the Company and its Restricted Subsidiaries,
references to a Person and its Restricted Subsidiaries in the foregoing
definition shall be deemed to refer to the Company and its Restricted
Subsidiaries.

         "APPLICABLE PREMIUM" means, with respect to any Exchangeable
Preferred Stock being redeemed or paid on any redemption date, the greater of
(i) 1.0% of the aggregate Liquidation Preference of such Exchangeable
Preferred Stock being redeemed or paid; or (ii) the excess of (A) the present
value at such redemption date of the redemption price of such Exchangeable
Preferred Stock being redeemed or paid at       , 2005 (such redemption price
being set forth in the table under the definition of "Applicable Redemption
Price" below) plus, all required dividend payments due on such Exchangeable
Preferred Stock being redeemed or paid through      , 2005 (such dividends to
be deemed to be payable in cash for purposes of such determination (assuming
a 360-day year consisting of twelve 30-day months), but excluding accumulated
and unpaid dividends since the most recent Dividend Payment Date, computed on
a quarterly basis for Exchangeable Preferred Stock using a discount rate
equal to the Treasury Rate plus 50 basis points, over, (B) the aggregate
liquidation preference of such Exchangeable Preferred Stock being redeemed or
paid.

                                        3

<PAGE>

         "APPLICABLE REDEMPTION PRICE" means, for each share of Exchangeable
Preferred Stock, the price equal to the redemption prices set forth below
(expressed as percentages of the then effective Liquidation Preference
thereof), plus, without duplication, all accumulated and unpaid dividends, if
any, to but excluding the Redemption Date (including an amount in cash equal
to a prorated dividend for the period from the Dividend Payment Date
immediately prior to but excluding the Redemption Date), if redeemed during
the 12- month period commencing on        of the years set forth below:

<TABLE>

<S>                                                         <C>
                  2005.............................................%
                  2006............................................ %
                  2007.............................................%
                  2008.............................................%
                  2009 and thereafter.......................100.000%

</TABLE>

         "ARTICLES OF INCORPORATION" has the meaning set forth in the
introductory paragraph to this resolution.

         "ASSET SALE" means the sale, conveyance, transfer, assignment or
other disposition of, directly or indirectly, in one transaction or a series
of related transactions, by the Company or any Restricted Subsidiary of the
Company of any of its property, business or assets, including any sale or
other transfer or issuance of any Capital Stock of any Restricted Subsidiary
of the Company whether owned on the Issue Date or thereafter acquired.

         "BOARD OF DIRECTORS" has the meaning set forth in the introductory
paragraph to this resolution.

         "BOARD RESOLUTION" means a copy of a resolution certified by the
Secretary or an Assistant Secretary of the Company to have been duly adopted
by the Board of Directors, to be in full force and effect on the date of such
certification and delivered to the Transfer Agent.

         "BUSINESS DAY" means each Monday, Tuesday, Wednesday, Thursday and
Friday which is not a day on which banking institutions in New York City or
the State of Minnesota are authorized or obligated by law or executive order
to close.

         "CAPITAL LEASE OBLIGATION" means that portion of any obligation of a
Person as lessee under a lease which is required to be capitalized on the
balance sheet of such lessee in accordance with generally accepted accounting
principles.

         "CAPITAL STOCK" means, with respect to any Person, any and all
shares, interests, participations or other equivalents (however designated,
whether voting or non-voting) of equity of such Person.

                                        4

<PAGE>

         "CASH EQUIVALENTS" means (i) securities issued or directly and fully
guaranteed or insured by the United States of America or any agency or
instrumentality thereof (PROVIDED that the full faith and credit of the
United States of America is pledged in support thereof), in each case
maturing within one year after the date of acquisition, (ii) time deposits
and certificates of deposit of, and commercial paper issued by the parent
corporation of any domestic commercial bank or domestic branch of any foreign
commercial bank organized in an OECD member country, in each case, of
recognized standing having capital and surplus in excess of $500 million and
commercial paper issued by others rated at least A-2 or the equivalent
thereof by Standard & Poor's Rating Group or at least P-2 or the equivalent
thereof by Moody's Investors Services, Inc. and in each case maturing within
one year after the date of acquisition, (iii) repurchase obligations with a
term of not more than seven days for underlying securities of the types
described in clauses (i) and (ii) above entered into with any financial
institution meeting the qualifications specified in clauses (ii) and (iv)
herein, and (iv) investments in money market funds substantially all of whose
assets comprise securities of the types described in clauses (i) and (ii)
above.

         "CERTIFICATE OF DESIGNATION" means this Certificate of Designation
of Voting Power, Preferences and Relative, Participating, Optional and Other
Special Rights and Qualifications, Limitations and Restrictions of      %
Junior Exchangeable Preferred Stock of the Company.

         "CHANGE OF CONTROL" means (i) directly or indirectly, a sale,
transfer or other conveyance of all or substantially all the assets of the
Company, on a consolidated basis, to any "person" or "group" (as such terms
are used for purposes of Sections 13(d) and 14(d) of the Exchange Act,
whether or not applicable), excluding transfers or conveyances to or among
the Company's Wholly Owned Restricted Subsidiaries, as an entirety or
substantially as an entirety in one transaction or series of related
transactions, in each case with the effect that any Person or group of
Persons owns more than 50% of the total Voting Power entitled to vote in the
election of directors, managers or trustees of the transferee entity
immediately after such transaction, (ii) any "person" or "group" (as such
terms are used for purposes of Sections 13(d) and 14(d) of the Exchange Act,
whether or not applicable) is or becomes the "beneficial owner" (as that term
is used in Rules 13d-3 and 13d-5 under the Exchange Act, whether or not
applicable, except that a Person shall be deemed to have "beneficial
ownership" of all shares that any such Person has the right to acquire,
whether such right is exercisable immediately or only after the passage of
time), directly or indirectly, of more than 50% of the total Voting Power of
the Company, or (iii) during any period of 24 consecutive months, individuals
who at the beginning of such period constituted the Board of Directors
(together with any new directors whose election by such Board or whose
nomination for election by the shareholders of the Company was approved by a
vote of a majority of the directors then still in office who were either
directors at the beginning of such period or whose election or nomination for
election was previously so approved), cease for any reason to constitute a
majority of the Board of Directors then in office. For purposes

                                        5

<PAGE>

of this definition, any new directors elected by the following security
holders shall be deemed to be members of the Board of Directors at the
beginning any such 24 month period: (i) the holders of Exchangeable Preferred
Stock, exercising rights pursuant to this Certificate of Designation; or (ii)
if the Company issues in connection with the Triton Acquisition Class M
preferred stock, Madison Dearborn Capital Partners III, LP and Boston
Ventures Limited Partnership V or any of their affiliates or permitted
transferees, exercising rights as holders of shares of our convertible
preferred stock.

         "CHANGE OF CONTROL OFFER" has the meaning set forth in SECTION 8(a).

         "CHANGE OF CONTROL PAYMENT" has the meaning set forth in
SECTION 8(a).

         "CHANGE OF CONTROL PAYMENT DATE" has the meaning set forth in
SECTION 8(d).

         "CLASS A SHARE RIGHTS AGREEMENT" means the Class A Share Rights
Agreement, dated as of April 30, 1999, by and among the Company and Norwest
Bank Minnesota, National Association Rights Agent.

         "CLASS B SHARE RIGHTS AGREEMENT" means the Class B Share Rights
Agreement, dated as of April 30, 1999, by and among the Company and Norwest
Bank Minnesota, National Association Rights Agent.

         "CLASS T CONVERTIBLE PREFERRED STOCK" means any shares of the
Company's Class T convertible preferred stock issued from time to time to
Telephone & Data Systems, Inc., a Delaware corporation, and/or its affiliates
in exchange for shares of the Company's common stock, on the terms
contemplated by the Recapitalization Agreement dated as of October 31, 1999,
between the Company and Telephone & Data Systems, Inc. (as amended on
December 6, 1999), as such agreement may be amended or otherwise modified
from time to time in a manner not inconsistent with the terms of this
Certificate of Designation.

         "COMMISSION" means the United States Securities and Exchange
Commission.

         "COMMON STOCK" of any Person means Capital Stock of such Person that
does not rank prior, as to the payment of dividends or as to the distribution
of assets upon any voluntary or involuntary liquidation, dissolution or
winding up of such Person, to shares of Capital Stock of any other class of
such Person.

         "CONSOLIDATED INDEBTEDNESS" of any Person means at any date the
Indebtedness of such Person and its Restricted Subsidiaries at such date.

         "CONSOLIDATED INTEREST EXPENSE" of any Person means for any period the
interest expense included in an income statement (taking into account the effect
of any Interest

                                        6

<PAGE>

Hedge Agreements but without deduction of interest income) of such Person and
its Restricted Subsidiaries for such period, including without limitation or
duplication (or, to the extent not so included, with the addition of), (i)
the portion of any rental obligation in respect of any Capital Lease
Obligation allocable to interest expense in accordance with generally
accepted accounting principles; (ii) the amortization of Indebtedness
discounts; (iii) any payments or fees with respect to letters of credit,
bankers' acceptances or similar facilities; (iv) fees with respect to
Interest Hedge Agreements; (v) the portion of any rental obligations in
respect of any Sale and Leaseback Transaction allocable to interest expense
(determined as if such were treated as a Capital Lease Obligation); and (vi)
Preferred Stock dividends accrued or payable other than dividends on
Qualified Capital Stock of the Company.

         "CONSOLIDATED NET INCOME" of any Person means for any period the net
income (or loss) of such Person and its Restricted Subsidiaries for such
period determined on a consolidated basis in accordance with generally
accepted accounting principles; PROVIDED that there shall be excluded
therefrom (to the extent included and without duplication) (i) the net income
(or loss) of any Person acquired by such Person or a Restricted Subsidiary of
such Person after the Issue Date in a pooling of interests transaction for
any period prior to the date of such transaction; (ii) the net income (or
loss) of any Person that is not a Restricted Subsidiary of such Person except
to the extent of the amount of dividends or other distributions actually paid
to such Person or Restricted Subsidiary of such Person by such other Person
during such period; (iii) gains or losses from sales of assets other than
sales of assets acquired and held for resale in the ordinary course of
business; (iv) for the purposes of the covenants in SECTION 9(c), the net
income, if positive, of any Restricted Subsidiary to the extent that the
declaration or payment of dividends or similar distributions by such
Restricted Subsidiary of such net income is not at that time permitted by the
operation of the terms of its charter or any agreement, instrument, judgment,
decree, order, statute, rule or governmental regulations applicable to such
Restricted Subsidiary and (v) all extraordinary gains and extraordinary
losses.

         "CONSOLIDATED NET WORTH" of any Person means the consolidated
shareholders' equity of such Person, determined on a consolidated basis in
accordance with generally accepted accounting principles; PROVIDED that with
respect to the Company, adjustments following the Issue Date to the
accounting books and records of the Company in accordance with Accounting
Principles Board Opinions Nos. 16 and 17 (or successor opinions thereto) or
otherwise resulting from the acquisition of control of the Company by another
Person and its Subsidiaries shall not be given effect; PROVIDED FURTHER that
such computation shall exclude (i) any amounts attributable to Redeemable
Stock or any equity security convertible into or exchangeable for
Indebtedness, the cost of treasury stock and the principal amount of any
promissory notes receivable from the sale of the Capital Stock of the Company
or any of its Restricted Subsidiaries and (ii) Unrestricted Subsidiaries.

                                        7

<PAGE>

         "COOPERATIVE BANK EQUITY" means non-voting equity interests in
Cooperative Banks.

         "COOPERATIVE BANKS" means lenders under the Credit Facility which
are cooperative banks.

         "CREDIT FACILITY" means the Existing Credit Facility or the New
Credit Facility, including in each case, any and all instruments and
agreements executed in connection therewith, as such documents may be
amended, restated, supplemented, renewed, replaced or otherwise modified from
time to time irrespective of any changes in the terms and conditions thereof.

         "CUMULATIVE INTEREST EXPENSE" means the total amount of Consolidated
Interest Expense of the Company and its Restricted Subsidiaries for the
period beginning July 1, 1998 through and including the end of the last
fiscal quarter preceding the date of any proposed Restricted Payment.

         "CUMULATIVE OPERATING CASH FLOW" means Operating Cash Flow of the
Company and its Restricted Subsidiaries for the period beginning July 1,
1998, through and including the end of the last fiscal quarter preceding the
date of any proposed Restricted Payment.

         "DEBENTURES TRUSTEE" has the meaning set forth in SECTION 6(a).

         "DEPOSITARY" means a clearing agency registered under the Exchange
Act that is designated to act as Depositary for the Exchangeable Preferred
Stock until a successor Depositary shall have become such pursuant to the
applicable provisions of this Certificate of Designation, and thereafter
"Depositary" shall mean such successor Depositary. The Depositary initially
is DTC.

         "DIVIDEND PAYMENT DATE" has the meaning set forth in SECTION 3(a).

         "DIVIDEND SHARES" means shares of Exchangeable Preferred Stock paid
by the Company to Holders of then outstanding shares of Exchangeable
Preferred Stock as dividends on such outstanding shares in accordance with
this Certificate of Designation.

         "DTC" means The Depository Trust Company, a New York corporation.

         "ESCROW AGENT" means , as escrow agent under the Escrow Agreement
dated February __, 2000.

         "ESCROW AGREEMENT" has the meaning set forth in SECTION 5(c).

         "ESCROWED FUNDS" has the meaning set forth in SECTION 5(c).

                                      8

<PAGE>

         "EXCHANGE ACT" means the Securities Exchange Act of 1934, as amended.

         "EXCHANGE DATE" has the meaning set forth in SECTION 6(c).

         "EXCHANGE DEBENTURES" means the Company's    % Senior Subordinated
Debentures due 2011, issuable in exchange for the Exchangeable Preferred
Stock in accordance with the terms hereof.

         "EXCHANGE INDENTURE" has the meaning set forth in SECTION 6(a).

         "EXCHANGE NOTICE" has the meaning set forth in SECTION 6(c).

         "EXCHANGEABLE PREFERRED STOCK" has the meaning designated in the
second paragraph of the recitals of the Company.

         "EXISTING CREDIT FACILITY" means the Amended and Restated Loan
Agreement, dated as of July 1, 1998, by and among the Company, and TD
Securities (USA) Inc., as arranging agent for the lenders and as such
agreement may be further amended, supplemented, restated or otherwise
modified from time to time, including without limitation, any renewals,
extensions, substitutions, refinancings, restructurings, replacements,
supplementation or other modifications of the foregoing that increase the
aggregate amount of borrowings outstanding or the aggregate commitments of
the lenders thereunder, extend or shorten the maturity of any Indebtedness
incurred thereunder or contemplated thereby or add or delete borrowers or
guarantors thereunder or that effect any other change in the terms and
conditions thereof.

         "FAIR MARKET VALUE" means, with respect to any assets or Person, the
price which could be negotiated in an arm's-length free market transaction,
for cash, between a willing seller and a willing buyer, neither of whom is
under undue pressure or compulsion to complete the transaction. Fair Market
Value will be determined (i) if such Person or assets has a Fair Market Value
of in excess of $250,000 but not in excess of $5 million, by any officer of
the Company and evidenced by an Officers' Certificate, dated within 30 days
of the relevant transaction, or (ii) if such Person or assets has a Fair
Market Value in excess of $5 million, or more, by a majority of the Board of
Directors and evidenced by a Board Resolution, dated within 30 days of the
relevant transaction, based on an appraisal of an independent appraiser of
national reputation.

         "FINAL PAYMENT-IN-KIND DATE" has the meaning set forth in Section
3(a).

         "HOLDER" means a Person in whose name a share of Exchangeable
Preferred Stock is registered.

                                      9

<PAGE>

         "INCUR" means, with respect to any Indebtedness or other obligation
of any Person, to create, issue, incur (by conversion, exchange or
otherwise), assume, guarantee or otherwise become liable in respect of such
Indebtedness or other obligation or the recording, as required pursuant to
generally accepted accounting principles or otherwise, of any such
Indebtedness or other obligation on the balance sheet of such Person (and
"Incurrence," "Incurred," "Incurable" and "Incurring" shall have meanings
correlative to the foregoing); PROVIDED, HOWEVER, that a change in generally
accepted accounting principles that results in an obligation of such Person
that exists at such time becoming Indebtedness shall not be deemed an
Incurrence of such Indebtedness.

         "INDEBTEDNESS" means (without duplication), with respect to any
Person, whether recourse is to all or a portion of the assets of such Person
and whether or not contingent, (i) every obligation of such Person for money
borrowed, (ii) every obligation of such Person evidenced by bonds,
debentures, notes or similar instruments, including obligations Incurred in
connection with the acquisition of property, assets or businesses, (iii)
every reimbursement obligation of such Person with respect to letters of
credit, bankers' acceptances or similar facilities issued for the account of
such Person, (iv) every obligation of such Person issued or assumed as the
deferred purchase price of property or services (but excluding trade accounts
payable or accrued liabilities arising in the ordinary course of business),
(v) every Capital Lease Obligation of such Person, (vi) the maximum fixed
redemption or repurchase price of Redeemable Stock of such Person at the time
of determination, (vii) every obligation to pay rent or other payment amounts
of such Person with respect to any Sale and Leaseback Transaction to which
such Person is a party other than any other such obligation which would
constitute an operating lease obligation of such Person under United States
generally accepted accounting principles, (viii) all obligations under
Interest Hedge Agreements, (ix) every obligation of the type referred to in
clauses (i) through (viii) of another Person and all dividends of another
Person the payment of which, in either case, such Person has guaranteed or is
responsible or liable, directly or indirectly, as obligor, guarantor or
otherwise, or which is secured by a lien on any asset of such Person; and (x)
the liquidation value of Preferred Stock of a Subsidiary of such Person
issued and outstanding and held by other than such Person (or one of its
Restricted Subsidiaries, except that if such Restricted Subsidiary is not a
Wholly Owned Restricted Subsidiary of such Person, the portion of the
liquidation value of such Preferred Stock equal to the product of (1) the
percentage of the common equity interest of such Restricted Subsidiary that
is not owned, directly or indirectly, by such Person, and (2) the aggregate
liquidation value of such Preferred Stock shall constitute Indebtedness);
PROVIDED that for all purposes of this Certificate of Designation, (A) the
amount outstanding at any time of any Indebtedness issued with original issue
discount is the face amount of such Indebtedness less the unamortized portion
of the original issue discount of such Indebtedness at the time of its
issuance as determined in conformity with generally accepted accounting
principles, (B) money borrowed at the time of the Incurrence of any
Indebtedness in order to pre-fund the payment of interest on such
Indebtedness shall be deemed not to be "Indebtedness" and (C)

                                      10

<PAGE>

Indebtedness shall not include any liability for federal, state, local or
other taxes. For purposes of this Certificate of Designations, the amount of
any Indebtedness shall be the amount determined in respect thereof as of the
end of the then most recently ended fiscal quarter of such Person, and in
making such determination, if any agreement relating to such obligation
provides for the netting of amounts payable by and to such Person thereunder
or if any such agreement provides for the simultaneous payment of amounts by
and to such Person or in any event until the counterparty thereunder defaults
in its corresponding payment, the in each such case, the amount of such
obligations shall be the net amount so determined, plus any premium due upon
default by such Person.

         "INTERCOMPANY INDEBTEDNESS" has the meaning set forth in SECTION
9(a).

         "INTEREST HEDGE AGREEMENTS" means any interest rate swap, cap,
collar, floor, option or swap agreements, or any similar arrangements
designed to hedge the risk of variable interest rate volatility or to reduce
interest costs, arising at any time between the Company or any of its
Restricted Subsidiaries, on the one hand, and any Person (other than an
Affiliate of the Company or any of its Restricted Subsidiaries), on the other
hand, as such agreement or arrangement may be modified, supplemented and in
effect from time to time.

         "INVESTMENT" by any Person in any other Person means (without
duplication): (i) the acquisition (whether by purchase, merger, consolidation
or otherwise) by such Person (whether for cash, property, services,
securities or otherwise) of Capital Stock, bonds, notes, debentures,
partnership or other ownership interests or other securities of such other
Person or any agreement to make any such acquisition; (ii) the making by such
Person of any deposit with, or advance, loan or other extension of credit to,
such other Person (including the purchase of property from another Person
subject to an understanding or agreement, contingent or otherwise, to resell
such property to such other Person) or any commitment to make any such
advance, loan or extension; (iii) the entering into by such Person of any
guarantee of, or other contingent obligation with respect to, Indebtedness or
other liability of such other Person; (iv) the making of any capital
contribution by such Person to such other Person; and (v) the designation by
the Board of Directors of any Person to be an Unrestricted Subsidiary. For
purposes of the covenants described in SECTION 9(c), (x) "Investment" shall
include and be valued at the Fair Market Value of such Person's PRO RATA
interest in the net assets of any Restricted Subsidiary at the time that such
Restricted Subsidiary is designated an Unrestricted Subsidiary and shall
exclude the lesser of (A) the Fair Market Value of such Person's PRO RATA
interest in the net assets of any Unrestricted Subsidiary at the time that
such Unrestricted Subsidiary is designated a Restricted Subsidiary and (B)
the Fair Market Value of the amount of such Person's Investments (other than
Permitted Investments) made in (net of cash distributions received from) such
Unrestricted Subsidiary since the Issue Date, and (y) the amount of any
Investment shall be the Fair Market Value of such Investment at the time any
such Investment is made.

                                      11

<PAGE>

         "ISSUE DATE" means the time and date of the first issuance of the
Exchangeable Preferred Stock.

         "JUNIOR STOCK" has the meaning set forth in SECTION 2.

         "LIEN" means, with respect to any property or assets, any mortgage
or deed of trust, pledge, hypothecation, assignment, deposit arrangement,
security interest, lien, charge, easement (other than an easement not
materially impairing usefulness or marketability), encumbrance, preference,
priority or other security agreement or preferential arrangement of any kind
or nature whatsoever on or with respect to such property or assets
(including, without limitation, any conditional sale or other title retention
agreement having substantially the same economic effect as any of the
foregoing).

         "LIQUIDATION PREFERENCE" means $1,000 per share of Exchangeable
Preferred Stock.

         "MANDATORY REDEMPTION DATE" has the meaning set forth in SECTION
5(a).

         "MBCA" has the meaning set forth in SECTION 3(b).

         "NEW CREDIT FACILITY" means the amendment and restatement or the
refinancing or replacement of the Existing Credit Facility in connection with
and conditioned upon the consummation of the Triton Acquisition, with the
same, a deletion of, or additional lenders, including, without limitation,
any successive renewals, extensions, substitutions, refinancings,
restructurings, replacements, supplementations or other modifications of the
foregoing that increase the aggregate amount of borrowings outstanding or the
aggregate commitments of the lenders thereunder, extend or shorten the
maturity of any Indebtedness incurred thereunder or contemplated thereby or
add or delete borrowers or guarantors thereunder or that effect any other
change in the terms and conditions thereof.

         "NOTES INDENTURE" means the Indenture governing the Senior
Subordinated Notes.

         "OFFICERS' CERTIFICATE" means a certificate signed by two officers
at least one of whom shall be the principal executive officer, principal
accounting officer or principal financial officer of the Company and
delivered to the Transfer Agent.

         "OPERATING CASH FLOW" for any Person for any period means (a) the
Consolidated Net Income of such Person for such period, plus (b) the sum,
without duplication (and only to the extent such amounts are deducted from
net revenues in determining such Consolidated Net Income), of (i) the
provisions for income taxes for such period for such Person and its
Subsidiaries, (ii) depreciation, amortization and other non-cash charges of
such Person and its Subsidiaries and (iii) Consolidated Interest Expense of
such Person for such period, determined, in each case, on a consolidated
basis for such Person and its Subsidiaries in

                                      12

<PAGE>

accordance with generally accepted accounting principles, less (c) the sum,
without duplication (and only to the extent such amounts are included in such
Consolidated Net Income) of (i) all extraordinary gains of such Person and
its Subsidiaries during such period and (ii) the amount of all cash payments
made during such period by such Person and its Subsidiaries to the extent
such payments relate to non-cash charges that were added back in determining
Operating Cash Flow for such period or for any prior period; and in the case
of a Restricted Subsidiary that is not a Wholly Owned Restricted Subsidiary,
the determination of the percentage of the Operating Cash Flow of such
Restricted Subsidiary that is to be included in the calculation of the
Company's Annualized Operating Cash Flow Ratio shall be made on a pro forma
basis on the assumption that the percentage of the Company's common equity
interest in such Restricted Subsidiary throughout the applicable Reference
Period was equivalent to its common equity interest on the date of the
determination. When the foregoing definition is used in connection with the
Company and its Restricted Subsidiaries, references to a Person and its
Subsidiaries in the foregoing definition shall be deemed to refer to the
Company and its Restricted Subsidiaries.

         "OPINION OF COUNSEL" means a written opinion of counsel, who may be
counsel for the Company, and who shall be reasonably acceptable to the
Transfer Agent, delivered to the Transfer Agent.

         "PARITY STOCK" has the meaning set forth in SECTION 2(a).

         "PAYING AGENT" means any Person authorized by the Company to pay the
Liquidation Preference (and premium, if any) or accumulated and unpaid
dividends, if any, on any Exchangeable Preferred Stock on behalf of the
Company.

         "PERMITTED INVESTMENTS" means: (i) Investments in Cash Equivalents;
(ii) Investments in the Company or a Restricted Subsidiary (other than
payments described in clause (B) of SECTION 9(c)(ii) and Investments in the
Company by one of its Restricted Subsidiaries pursuant to clause (ii) of the
definition of "Restricted Payments"), (iii) Investments in a Person
substantially all of whose assets are of a type generally used in a Wireless
Communications Business (an "Acquired Person") if, as a result of such
Investments, (A) the Acquired Person immediately thereupon becomes a
Restricted Subsidiary or (B) the Acquired Person immediately thereupon either
(1) is merged or consolidated with or into the Company or any of its
Restricted Subsidiaries or (2) transfers or conveys all or substantially all
of its assets to, or is liquidated into, the Company or any of its Restricted
Subsidiaries; (iv) Investments in accounts and notes receivable acquired in
the ordinary course of business; (v) any securities received in connection
with an Asset Sale that would comply with Section 1015 of the Exchange
Indenture if the Exchange Debentures were issued; (vi) advances and
prepayments for asset purchases in the ordinary course of business in a
Wireless Communications Business of the Company or a Restricted Subsidiary;
(vii) customary loans or advances made in the ordinary course of business to
officers,

                                      13

<PAGE>

directors or employees of the Company or any of its Restricted Subsidiaries
for travel, entertainment, and moving and other relocation expenses; (viii)
the purchase of Cooperative Bank Equity in Cooperative Banks to the extent
required by the charter documents of such Cooperative Banks in connection
with the Incurrence of any Indebtedness which is provided by such Cooperative
Banks under the Credit Facility, PROVIDED that such Incurrence is permitted
under the terms of this Certificate of Designation; (viii) any Investment by
the Company of Qualified Capital Stock Proceeds received after July 1, 1998
in any Unrestricted Subsidiary which conducts or will conduct a
Telecommunications Business (PROVIDED that any such Qualified Capital Stock
Proceeds used to consummate the Triton Acquisition shall be deemed not to
have been used and shall remain available for such an Investment); and (ix)
Investments in Wireless Alliance during the period it is an Unrestricted
Subsidiary not exceeding $25 million in the aggregate made after July 1,
1998; PROVIDED that (I) the matters referenced in clauses (iii) and (ix)
above shall not be Permitted Investments if made at any time that a Voting
Rights Triggering Event or event which with notice or lapse of time or both
would become a Voting Rights Triggering Event has occurred and is continuing
and (II) matters referenced in clause (viii) above shall not be a Permitted
Investment if at any time (A) a Voting Rights Triggering Event or event which
with notice or lapse of time or both would become a Voting Rights Triggering
Event has occurred and is continuing and (B) the Company would not be
permitted to Incur an additional $1.00 of Indebtedness pursuant to Clause (i)
of SECTION 9(a) and (III) following any Permitted Investment pursuant to
clause (viii), the Unrestricted Subsidiary in which such Investment is made
shall be prohibited from using the proceeds of such Investment (directly or
indirectly) to make any Restricted Payment with respect to Junior Stock or
options, warrants or rights to acquire the Company's Junior Stock of the type
described in clause (ii) of the definition of Restricted Payment.

         "PERSON" means any individual, corporation, partnership, joint
venture, trust, unincorporated organization or government or any agency or
political subdivision thereof.

         "PREFERRED STOCK" means, with respect to any Person, and any and all
shares of Capital Stock of such Person that have preferential rights to any
other Capital Stock of such Person with respect to dividends or redemptions
or upon liquidation.

         "PROSPECTUS" means the Prospectus dated February _, 2000 with
respect to the offering of, INTER ALIA, the Exchangeable Preferred Stock.

         "PUBLIC EQUITY OFFERING" means an underwritten public offering of
common stock of the Company pursuant to an effective registration statement
filed with the Commission in accordance with the Securities Act.

                                      14

<PAGE>

         "QUALIFIED CAPITAL STOCK" means, with respect to any Person, any and
all shares of Capital Stock other than Redeemable Stock issued by such
Person, and any options, warrants or other rights to purchase such Capital
Stock.

         "QUALIFIED CAPITAL STOCK PROCEEDS" means, with respect to any
Person, (a) in the case of any sale of Qualified Junior Stock (other than to
any Subsidiary), the aggregate net cash proceeds received by such Person,
after payment of expenses, commissions and the like, Incurred by such Person
in connection therewith, and net of Indebtedness that such Person Incurred,
guaranteed, or otherwise became liable for in connection with the issuance or
acquisition of such Qualified Junior Stock; and (b) in the case of any
exchange, exercise, conversion or surrender of any Redeemable Stock,
Qualified Capital Stock (other than Qualified Junior Stock) or Indebtedness
of such Person issued (other than to any Subsidiary) for cash after the Issue
Date for or into shares of Qualified Junior Stock of such Person, the
aggregate net cash proceeds received from the issuance of such Redeemable
Stock, Qualified Capital Stock or Indebtedness, plus the aggregate net cash
proceeds, if any, received by such Person upon such exchange, exercise,
conversion or surrender of such Redeemable Stock, Qualified Capital Stock or
Indebtedness, and less any and all payments made to the security holders, and
all other expenses, commissions and the like Incurred by such Person or any
Subsidiary in connection therewith.

         "QUALIFIED JUNIOR STOCK" means Junior Stock that does not constitute
Redeemable Stock.

         "QUALIFYING EVENT" means a Public Equity Offering or one or more
Strategic Equity Investments which in either case results in aggregate net
proceeds of not less than $50 million; PROVIDED that any Public Equity
Offering or Strategic Equity Investment, the net proceeds from which are
intended to be used to consummate the Triton acquisition, shall not be a
Qualifying Event.

         "RECORD DATE" has the meaning set forth in SECTION 3(a).

         "REDEEMABLE STOCK" of any Person means any equity security of such
Person that by its terms or otherwise is required to be redeemed prior to the
Mandatory Redemption Date or is redeemable at the option of the holder
thereof (other than an equity security that is redeemable at the option of
the holder and the applicable redemption price is payable only in shares of
Qualified Junior Stock) at any time prior to the Mandatory Redemption Date,
PROVIDED that any Capital Stock that would not constitute Redeemable Stock
but for provisions thereof giving holders thereof the right to require such
Person to repurchase or redeem such Capital Stock upon the occurrence of a
"change of control" occurring prior to the Mandatory Redemption Date shall
not constitute Redeemable Stock if the "change of control" provisions
applicable to such Capital Stock are no more favorable to the holders of such
Capital Stock than the provisions contained in SECTION 8 and such Capital
Stock

                                        15

<PAGE>

specifically provides that such Person will not repurchase or redeem any such
stock pursuant to such provision prior to the Company's repurchase of the
Exchangeable Preferred Stock as required pursuant to SECTION 8.

         "REDEMPTION DATE" has the meaning set forth in SECTION 5(e).

         "REFERENCE PERIOD" with regard to any Person means the last two full
fiscal quarters of such Person immediately preceding any date upon which any
determination is to be made pursuant to the terms of the Senior Subordinated
Notes or this Certificate of Designation.

         "REGISTRATION STATEMENT" means the Registration Statement on Form
S-3 dated January   , 2000 with respect to the offering of, INTER ALIA, the
Exchangeable Preferred Stock.

         "RELATED PERSON" of any Person means any other Person owning (a) 5%
or more of the outstanding Common Stock of such Person or (b) 5% or more of
the Voting Power of such Person.

         "RESTRICTED PAYMENT" means, with respect to any Person, (i) any
declaration or payment of a dividend or other distribution on any shares of
Junior Stock of such Person or any Subsidiary of such Person (other than a
dividend payable solely in shares of its Junior Stock or options, warrants or
other rights to acquire its Junior Stock and other than any declaration or
payment of a dividend or other distribution by a Restricted Subsidiary to the
Company or another Restricted Subsidiary), (ii) any payment on account of the
purchase, redemption, retirement or acquisition of (A) any shares of Junior
Stock of such Person or any Subsidiary of such Person held by other than such
Person or any of its Restricted Subsidiaries or (B) any option, warrant or
other right to acquire shares of Junior Stock of such Person or any
Subsidiary held by other than such Person or any of its Restricted
Subsidiaries, in each case other than pursuant to the cashless exercise of
options, (iii) any Investment (other than a Permitted Investment) made by
such Person; PROVIDED that the term "Restricted Payment" does not include the
payment of a dividend or other distribution by any Restricted Subsidiary on
shares of its Capital Stock that is paid PRO RATA to all holders of such
Capital Stock.

         "RESTRICTED SUBSIDIARY" of any Person means any Subsidiary of such
Person other than an Unrestricted Subsidiary.

         "SALE AND LEASEBACK TRANSACTION" of any Person means an arrangement
with any lender or investor or to which such lender or investor is a party
providing for the leasing by such Person of any property or asset of such
Person which has been or is being sold or transferred by such Person more
than 270 days after the acquisition thereof or the completion of construction
or commencement of operation thereof to such lender or investor or to any
Person to whom funds have been or are to be advanced by such lender or
investor

                                        16

<PAGE>

on the security of such property or asset. The stated maturity of such
arrangement shall be the date of the last payment of rent or any other amount
due under such arrangement prior to the first date on which such arrangement
may be terminated by the lessee without payment of a penalty.

         "SECURITIES ACT" means the Securities Act of 1933, as amended.

         "SENIOR INDEBTEDNESS" means the principal of (and premium, if any)
and interest (including interest accruing on or after the filing of any
petition in bankruptcy or for reorganization relating to the Company whether
or not a claim for post-petition interest is allowed in such proceeding) on
(i) Indebtedness of the Company created pursuant to the Credit Facility and
all other obligations thereunder or under the notes, security documents,
pledge agreements, Interest Hedge Agreements or other agreements or
instruments executed in connection therewith, (ii) Indebtedness of the
Company created pursuant to any vendor financing Incurred for the
acquisition, construction or improvement by the Company or any of its
Restricted Subsidiaries of assets in the Wireless Communications Business,
(iii) all other Indebtedness of the Company referred to in the definition of
Indebtedness other than (A) Indebtedness incurred pursuant to clauses (iv)
and (vi) thereof (and clause (ix) thereof to the extent applicable to
Indebtedness Incurred under clauses (iv) and (vi) thereof), whether Incurred
on or prior to the Issue Date and (B) the Senior Subordinated Notes, and (iv)
amendments, renewals, extensions, modifications, refinancings and refundings
of any such Indebtedness; PROVIDED, HOWEVER, that the following shall not
constitute Senior Indebtedness: (A) any Indebtedness owed to a Person when
such Person is a Restricted Subsidiary of the Company, (B) any Indebtedness
which by the terms of the instrument creating or evidencing the same is not
superior in right of payment to the Exchange Debentures, if and when issued,
(C) any Indebtedness Incurred in violation of this Certificate of Designation
(but, as to any such Indebtedness, no such violation shall be deemed to exist
for purposes of this clause (c) if the holder(s) of such Indebtedness or
their representative shall have received an Officers' Certificate from us to
the effect that the Incurrence of such Indebtedness does not (or in the case
of revolving credit Indebtedness, that the Incurrence of the entire committed
amount thereof at the date on which the initial borrowing thereunder is made
would not) violate this Certificate of Designation, (D) any Indebtedness
which is subordinated in right of payment to any other Indebtedness of the
Company, (E) Indebtedness or other obligations of or amounts owed by the
Company or its Restricted Subsidiaries for compensation to its employees, as
applicable, or for services rendered by such employees to the Company or any
of its Restricted Subsidiaries or (F) any liability for federal, state, local
or other taxes owed or owing by the Company.

         "SENIOR PREFERRED EXCHANGE INDENTURE" means the indenture governing
the Company's 11 3/8% senior subordinated debentures.

                                        17

<PAGE>

         "SENIOR PREFERRED STOCK" means the 11 3/8% senior exchangeable
preferred stock of the Company.

         "SENIOR STOCK" has the meaning set forth in SECTION 2(a).

         "SENIOR SUBORDINATED NOTES" means the 9 5/8% Senior Subordinated
Notes due 2008 of the Company.

         "SHARE RIGHTS AGREEMENTS" means the Class A Share Rights Agreement
and the Class B Share Rights Agreement.

         "SIGNIFICANT SUBSIDIARY" shall have the meaning set forth in Rule
1-02 of Regulation S-X under the Securities Act; PROVIDED that all references
to "10 percent" under such definition shall be deemed to be references to "5
percent."

         "SPECIAL MANDATORY REDEMPTION" has the meaning set forth in SECTION
5(c).

         "STRATEGIC EQUITY INVESTMENT" means an investment in Qualified
Junior Stock made by a Strategic Investor in an aggregate amount of not less
than $50 million.

         "STRATEGIC INVESTOR" means a Person (other than an Affiliate of the
Company or a Person who by virtue of such Investment becomes such an
Affiliate) engaged in one or more Telecommunications Businesses with an
equity market capitalization at the time such Person makes a Strategic Equity
Investment in the Company in excess of $1.0 billion.

         "SUBSIDIARY" means, as applied to any Person, (a) any corporation of
which more than fifty percent (50%) of the outstanding Capital Stock (other
than directors' qualifying shares) having ordinary Voting Power to elect its
board of directors, regardless of the existence at the time of a right of the
holders of any class or classes of securities of such corporation to exercise
such Voting Power by reason of the happening of any contingency, or any
entity other than a corporation of which more than fifty percent (50%) of the
outstanding ownership interests, is at the time owned directly or indirectly
by such Person, or by one or more Subsidiaries of such Person, or by such
Person and one or more Subsidiaries of such Person, or (b) any other entity
which is directly or indirectly controlled or capable of being controlled by
such Person, or by one or more Subsidiaries of such Person, or by such Person
and one or more Subsidiaries of such Person.

         "TELECOMMUNICATIONS BUSINESS" means the business of (i)
transmitting, or providing services relating to the transmission of, voice,
video or data through owned or leased wireline or wireless transmission
facilities, (ii) creating, developing, constructing, installing, repairing,
maintaining or marketing communications-related systems, network equipment
and facilities, software and other products, or (iii) evaluating, owning,
operating,

                                        18

<PAGE>

participating in or pursuing any other business that is primarily related to
those identified in clause (i) or (ii) above (in the case of this clause
(iii), however, in a manner consistent with the Company's manner of business
on the Issue Date), and shall, in any event, include all businesses in which
the Company or any of its Subsidiaries is engaged on the Issue Date or has
entered into agreements to engage in or to acquire a company to engage in or
contemplate engaging in, as expressly set forth in the Prospectus; PROVIDED
that the determination of what constitutes a Telecommunications Business
shall be made in good faith by the Board of Directors.

         "TRANSFER AGENT" means Norwest Bank Minnesota, National Association,
a national banking association.

         "TREASURY RATE" means, as of any redemption date, the yield to
maturity as of such redemption date of United States Treasury Securities with
a constant maturity (as compiled and published in the most recent Federal
Reserve Statistical Release H.15 (519) that has become publicly available at
least two Business Days prior to the redemption date (or, if such Statistical
Release is no longer published, any publicly available source of similar
market data)) most nearly equal to the period from the redemption date to
          , 2005, PROVIDED HOWEVER, that if the period from the redemption
date to            , 2005 is less than one year, the weekly average yield on
actually traded United States Treasury Securities adjusted to a constant
maturity of one year shall be used.

         "TRITON ACQUISITION" means the acquisition by the Company of
substantially all of the assets of Triton Cellular Partners, L.P. and its
affiliates and the acquisition of one of its Subsidiaries.

         "TRUST INDENTURE ACT" means the Trust Indenture Act of 1939, as
amended.

         "UNDESIGNATED SHARES" means the Undesignated shares of the capital
stock of the Company which are authorized under its Articles of Incorporation.

         "UNRESTRICTED SUBSIDIARY" of any Person means (i) any Subsidiary of
such Person that at the time of determination shall be designated an
Unrestricted Subsidiary by the Board of Directors of such Person in the
manner provided below and (ii) any Subsidiary of an Unrestricted Subsidiary.
The Board of Directors of any Person may designate any Restricted Subsidiary
to be an Unrestricted Subsidiary unless such Subsidiary owns any Capital
Stock of, or owns or holds any Lien on any property of, such Person or any
Restricted Subsidiary; PROVIDED that either (A) the Subsidiary to be so
designated has total assets of $1,000 or less or (B) if such Subsidiary has
assets greater than $1,000, such Person's PRO RATA interest in the Fair
Market Value of the net assets of such Subsidiary at the time of such
designation would be permitted as an Investment under SECTION 9(c). The Board
of Directors of any Person may designate any Unrestricted Subsidiary to be a
Restricted Subsidiary of such

                                        19

<PAGE>

Person; PROVIDED that immediately after giving effect to such designation (x)
such Person would be permitted to Incur $1.00 of additional Indebtedness
pursuant to SECTION 9(a) and (y) no Voting Rights Triggering Event or event
which with notice or lapse of time or both would become a Voting Rights
Triggering Event has occurred and is continuing. Any such designation by the
Board of Directors shall be evidenced by a Board Resolution submitted to the
Transfer Agent. Wireless Alliance shall be deemed an Unrestricted Subsidiary
as of the Issue Date and shall thereafter remain an Unrestricted Subsidiary
unless and until designated by the Board of Directors as a Restricted
Subsidiary in accordance with the terms of this Certificate of Designation.

         "VOTING POWER" of any Person means the aggregate number of votes of
all classes of Capital Stock of such Person which ordinarily have voting
power for the election of directors of such Person.

         "VOTING RIGHTS TRIGGERING EVENT" has the meaning set forth in
SECTION 7(b).

         "WHOLLY OWNED RESTRICTED SUBSIDIARY" of any Person means a
Restricted Subsidiary of such Person all of the outstanding Capital Stock or
other ownership interests of which (other than directors' qualifying shares)
shall at the time be owned by such Person or by one or more Wholly Owned
Restricted Subsidiaries of such Person or by such Person and one or more
Wholly Owned Restricted Subsidiaries of such Person.

         "WIRELESS ALLIANCE" means Wireless Alliance, LLC, a Minnesota
limited liability company.

         "WIRELESS COMMUNICATIONS BUSINESS" means any business substantially
related to the ownership, development, operation or acquisition of fixed and
mobile wireless communications services permitted under the Federal
Communications Commission's ("FCC") Commercial Mobile Radio Service rules
(and the related provisions of the FCC's Public Mobile Services and Personal
Communications Services rules), and other related telecommunications business
services.

         2. RANKING.

         (a) The Exchangeable Preferred Stock shall, with respect to dividend
rights and rights upon the liquidation, winding-up and dissolution of the
Company, rank (i) junior to the Senior Preferred Stock, including an "add-on"
issue of an additional 25,000 shares of such Senior Preferred Stock issued
concurrently with the Exchangeable Preferred Stock being issued under this
Certificate of Designation and the Class T Convertible Preferred Stock; (ii)
senior to all classes of common stock of the Company and to each other class
of Capital Stock established after the Issue Date by the Board of Directors
the terms of which expressly provide that it ranks junior to the Exchangeable
Preferred Stock as to dividend

                                        20

<PAGE>

rights and rights upon the liquidation, winding-up and dissolution of the
Company including any shares of the Company's Class M preferred stock and any
shares of the Company's Series A junior participating preferred stock or
Series B junior participating preferred stock issued to holders of the
Company's Class A common stock or Class B common stock, respectively,
pursuant to either of the Share Rights Agreements (collectively referred to,
together with all classes of common stock of the Company, as "Junior Stock");
(iii) subject to certain conditions, described below, on a parity with each
other class of Capital Stock established after the date of the Prospectus by
the Board of Directors, the terms of which expressly provide that such class
or series will rank on a parity with the Exchangeable Preferred Stock as to
dividend rights and rights upon the liquidation, winding-up and dissolution
of the Company (collectively referred to as "Parity Stock"); and (iv) subject
to certain conditions described below, junior to each class of Capital Stock
established after the date of the Prospectus by the Board of Directors the
terms of which do not expressly provide that such class or series of Capital
Stock will rank junior to, or on a parity with, the Exchangeable Preferred
Stock as to dividend rights and rights upon liquidation, winding-up and
dissolution of the Company (collectively referred to as "Senior Stock").

         (b) The Company shall not authorize or issue any new class of Senior
Stock or Parity Stock without the affirmative vote or consent (voting or
consenting as one class) of the holders of at least (i) 66 2/3% of the shares
of Exchangeable Preferred Stock then outstanding with respect to Senior Stock
and (ii) a majority of the shares of Exchangeable Preferred Stock then
outstanding with respect to Parity Stock; PROVIDED that any shares of
Exchangeable Preferred Stock and the Class T Convertible Preferred Stock may
be issued by us without the approval of the Holders of the Exchangeable
Preferred Stock; PROVIDED FURTHER that, without the approval of Holders of
the Exchangeable Preferred Stock, the Company may issue shares of Senior
Stock in exchange for, or the proceeds of which are used to redeem or
purchase, all (but not less than all) shares of the Exchangeable Preferred
Stock then outstanding in accordance with this Certificate of Designation.

         3. DIVIDENDS.

         (a) The Holders of the outstanding shares of the Exchangeable
Preferred Stock shall be entitled to receive, when, as and if declared by the
Board of Directors out of funds of the Company legally available therefor,
dividends on the Exchangeable Preferred Stock, which shall accrue at a rate
per annum equal to     %. If at any time dividends on the Exchangeable
Preferred Stock are in arrears and unpaid for six or more quarterly dividend
periods (whether or not consecutive), Holders of Exchangeable Preferred Stock
will be entitled to the voting rights specified in SECTION 7 of this
Certificate of Designation. All dividends will be cumulative, whether or not
earned or declared, from        , 2000 and will be payable quarterly in
arrears on     ,     ,     , and      , of each year, commencing on      ,
or, if any such date is not a Business Day, on the next succeeding Business
Day (each, a "Dividend Payment Date") to the Holders of record on the       ,
     ,     , or     ,

                                        21

<PAGE>

immediately preceding the relevant Dividend Payment Date (each, a "Record
Date"). On or before      , 2005 (the "Final Payment-in-Kind Date"), the
Company may, at its option, pay dividends in cash or in Dividend Shares
(including fractional shares, PROVIDED that the Company may, at its option,
pay cash in lieu of issuing fractional shares) having an aggregate
Liquidation Preference equal to the amount of such dividends. After the Final
Payment-in-Kind Date, dividends shall be paid only in cash. The issuance of
such Dividend Shares of Exchangeable Preferred Stock shall constitute
"payment" of the related dividend for all purposes of this Certificate of
Designation. Dividends payable on the Exchangeable Preferred Stock will be
computed on the basis of a 360-day year consisting of twelve 30-day months
and shall be deemed to accrue on a daily basis.

         (b) Dividends on the Exchangeable Preferred Stock shall accrue
whether or not the Company has earnings or profits, whether or not there are
funds legally available for the payment of such dividends and whether or not
dividends are declared. If any dividend (or portion thereof) payable on any
Dividend Payment Date on or before the Final Payment-in-Kind Date, is not
declared or paid in full in cash or in Dividend Shares as described above on
such Dividend Payment Date, the amount of the accumulated and unpaid
dividends will bear interest at the dividend rate on the Exchangeable
Preferred Stock, compounding quarterly from such Dividend Payment Date until
paid in full. If any dividend (or portion thereof) payable on any Dividend
Payment Date after the Final Payment-in-Kind Date, is not declared or paid in
full in cash on such Dividend Payment Date, the amount of the accumulated and
unpaid dividend will bear interest at the dividend rate on the Exchangeable
Preferred Stock, compounding quarterly from such Dividend Payment Date until
paid in full. The Company shall take all actions required or permitted under
the Business Corporation Act of the State of Minnesota (the "MBCA") to permit
the payment of dividends on the Exchangeable Preferred Stock, including,
without limitation, through the revaluation of its assets in accordance with
the MBCA, to make or keep funds legally available for the payment of
dividends.

         (c) No full dividends shall be declared or paid or funds set apart
for the payment of dividends on any Parity Stock for any period unless full
cumulative dividends shall have been or contemporaneously are declared and
paid (or are deemed declared and paid) in full or declared and, if payable in
cash, a sum in cash sufficient for such payment set apart for such payment on
the Exchangeable Preferred Stock. If full dividends are not so paid, the
Exchangeable Preferred Stock will share dividends PRO RATA with the Parity
Stock. Unless full cumulative dividends on all outstanding shares of
Exchangeable Preferred Stock for all past dividend periods shall have been
declared and paid, or declared and a sufficient sum for the payment thereof
set apart, then: (i) no dividend (other than a dividend on Junior Stock
payable solely in shares of any Junior Stock) shall be declared or paid upon
(or deemed paid), or any sum set apart for the payment of dividends upon, any
shares of Junior Stock; (ii) no other distribution shall be declared or made
upon, or any sum set apart for the payment of any distribution upon, any
shares of Junior Stock, other than a distribution

                                        22

<PAGE>

consisting solely of Junior Stock; (iii) no shares of Junior Stock or Parity
Stock shall be repurchased, redeemed or otherwise acquired or retired by the
Company or any of its Subsidiaries; and (iv) no monies shall be paid into or
set apart or made available for a sinking or other like fund for the
purchase, redemption or other acquisition or retirement for value of any
shares of Junior Stock or Parity Stock by the Company or any of its
Subsidiaries. Dividends on account of arrears for any past dividend period
and dividends in connection with any optional redemption may be declared and
paid at any time, without reference to any regular Dividend Payment Date, to
holders of record of the Exchangeable Preferred Stock on such date, not more
than 45 days prior to the payment thereof, as may be fixed by the Board of
Directors.

         4. LIQUIDATION PREFERENCE.

         Upon any voluntary or involuntary liquidation, dissolution or
winding-up of the Company or reduction or decrease in its Capital Stock
resulting in a distribution of assets to the holders of any class or series
of the Company's Capital Stock, Holders of Exchangeable Preferred Stock
($1,000 per share) shall be entitled to payment, out of the assets of the
Company available for distribution to stockholders, the Liquidation
Preference per share of Exchangeable Preferred Stock, plus, without
duplication, an amount in cash equal to all accumulated and unpaid dividends
thereon to but excluding the date fixed for liquidation, dissolution or
winding-up (including an amount equal to a prorated dividend for the period
from the last Dividend Payment Date to the date fixed for liquidation,
dissolution or winding-up), before any distribution is made on any Junior
Stock, including, without limitation, common stock of the Company. If, upon
any voluntary or involuntary liquidation, dissolution or winding-up of the
Company, the amounts payable with respect to the Exchangeable Preferred Stock
and all other Parity Stock are not paid in full, the Holders of the
Exchangeable Preferred Stock and the Parity Stock shall share equally and
ratably in any distribution of assets of the Company in proportion to the
full Liquidation Preference to which each is entitled. After payment of the
full amount of the Liquidation Preference and accumulated and unpaid
dividends to which they are entitled, the Holders of shares of Exchangeable
Preferred Stock shall not be entitled to any further participation in any
distribution of assets of the Company. However, neither the sale, conveyance,
exchange or transfer (for cash, shares of stock, securities or other
consideration) of all or substantially all of the property or assets of the
Company nor the consolidation or merger of the Company with or into one or
more Persons shall be deemed to be a liquidation, dissolution or winding-up
of the Company.

         5. REDEMPTION BY THE COMPANY.

         (a) On         , 2011 (the "Mandatory Redemption Date"), the Company
shall be required to redeem (subject to the MBCA) in whole all outstanding
shares of Exchangeable Preferred Stock at a price in cash equal to 100% of
the aggregate Liquidation Preference

                                        23

<PAGE>

thereof, plus, without duplication, all accumulated and unpaid dividends, if
any, to but excluding the Redemption Date (including an amount in cash equal
to a prorated dividend for the period from the Dividend Payment Date
immediately prior to the Redemption Date to but excluding the Redemption
Date). The Company shall not be required to make sinking fund payments to
protect the Liquidation Preference with respect to the Exchangeable Preferred
Stock.

         (b) Except as provided in the third and fifth sentences of this
Section 5(b), the Exchangeable Preferred Stock shall not be redeemed at the
option of the Company prior to          , 2005. The Exchangeable Preferred
Stock may be redeemed (subject to contractual and other restrictions with
respect thereto and to the MBCA) at any time, in whole or from time to time
in part, at the option, on not less than 30 nor more than 60 days prior
notice, of the Company after        , 2005, at the Applicable Redemption
Price. In addition, at any time prior to        , 2003, the Company may
redeem shares of Exchangeable Preferred Stock having an aggregate Liquidation
Preference of up to 35% of the aggregate Liquidation Preference of all shares
of Exchangeable Preferred Stock (including Additional Shares and Dividend
Shares) issued, from the net cash proceeds of a Qualifying Event at a price
equal to     % of the aggregate Liquidation Preference thereof, plus, without
duplication, accumulated and unpaid dividends, if any, to but excluding the
Redemption Date (including an amount in cash equal to a prorated dividend for
the period from the Dividend Payment Date immediately prior to the Redemption
Date but excluding the Redemption Date), subject to the right of Holders of
record on the relevant Record Date to receive dividends due on a Dividend
Payment Date; PROVIDED, that at least 65% of the aggregate Liquidation
Preference of the Exchangeable Preferred Stock originally issued remains
outstanding immediately following such redemption. Any such redemption must
be made within 60 days after the related Qualifying Event. In addition, at
any time prior to        , 2005, the Exchangeable Preferred Stock may be
redeemed at the option of the Company, in whole but not in part, at a
redemption price equal to 100% of the aggregate Liquidation Preference
thereof plus the Applicable Premium as of, and accumulated and unpaid
dividends, if any, to but excluding, the Redemption Date.

         (c) Pending the consummation of the Triton Acquisition, the Company
will deposit the net proceeds (the "Escrowed Funds") from the sale of the
Exchangeable Preferred Stock in an escrow account. In the event the
consummation of the Triton Acquisition has not occurred on or prior to June
30, 2000 (or, in the case described below, September 30, 2000), then the
Company will use 100% of such net proceeds to redeem all the Exchangeable
Preferred Stock (the "Special Mandatory Redemption") at a redemption price in
cash equal to 101% of the aggregate Liquidation Preference of the
Exchangeable Preferred Stock plus accumulated and unpaid dividends, if any,
to the Special Mandatory Redemption Date. For purposes hereof, "Special
Mandatory Redemption Date" means July 15, 2000, in the event the consummation
of the Triton Acquisition has not occurred by June 30, 2000; PROVIDED that in
the event the Triton Acquisition is not consummated by June 30,

                                        24

<PAGE>

2000 solely as a result of the failure of any Person to receive any necessary
consent, approval, order or authorization of any governmental authority, the
Special Mandatory Redemption Date shall be October 15, 2000. Upon
consummation of the issuance of the Exchangeable Preferred Stock, the Company
and     , as Escrow Agent, will enter into an escrow agreement (the "Escrow
Agreement"). Pursuant to the Escrow Agreement, the Escrowed Funds will be
held by the Escrow Agent in an escrow account and will be required to be
invested in cash equivalents (as defined in the Escrow Agreement). The
Company will be permitted to obtain a full release of assets in the Escrow
Account upon consummation of the Triton Acquisition.

         (d) In case of redemption of less than all of the shares of
Exchangeable Preferred Stock at the time outstanding, the shares to be
redeemed shall be determined PRO RATA, except that the Company may redeem
such shares held by a Holder of fewer than 100 shares without regard to such
PRO RATA redemption requirement.

         (e) Notice of any redemption shall be sent by or on behalf of the
Company not less than 30 nor more than 60 days prior to the date specified
for redemption in such notice (including the Mandatory Redemption Date, the
"Redemption Date"), by first class mail, postage prepaid, to all Holders of
record of the Exchangeable Preferred Stock at their registered address;
PROVIDED that notice of any Special Mandatory Redemption shall be sent not
less than 10 nor more than 15 days prior to the Special Mandatory Redemption
Date. In addition to any information required by law or by the applicable
rules of any exchange upon which Exchangeable Preferred Stock may be listed
or admitted to trading, such notice shall state: (i) whether such redemption
is being made pursuant to the optional or the mandatory redemption provisions
hereof; (ii) the Redemption Date or Special Mandatory Redemption Date, as
applicable; (iii) the redemption price; (iv) if less than all the outstanding
shares of Exchangeable Preferred Stock are to be redeemed, the Liquidation
Preference of, and the accrued and unpaid dividends on, the shares of
Exchangeable Preferred Stock to be redeemed; (v) that on the Redemption Date
the redemption price shall become due and payable upon each share of
Exchangeable Preferred Stock to be redeemed; and (vi) the place or places
where shares are to be surrendered for payment of the redemption price. Upon
the mailing of any such notice of redemption, the Company shall become
obligated to redeem at the time of redemption specified thereon all shares
called for redemption.

         (f) If notice has been mailed in accordance with SECTION 5(e) above
and, PROVIDED that on or before the Redemption Date specified in such notice,
all funds necessary for such redemption shall have been set aside by the
Company, separate and apart from its other funds in trust for the PRO RATA
benefit of the Holders of the shares so called for redemption, so as to be,
and to continue to be available therefor, then, on and after the Redemption
Date, unless the Company defaults in the payment of the applicable redemption
price, dividends on the shares of the Exchangeable Preferred Stock so called
for redemption

                                      25

<PAGE>

shall cease to accumulate and all rights of the Holders of such shares shall
terminate except for the right to receive from the Company the redemption
price, without interest; PROVIDED, HOWEVER, that if a notice of redemption
shall have been given and the funds necessary for redemption (including an
amount in respect of all dividends that will accrue to the Redemption Date)
shall have been segregated and irrevocably set apart by the Company, in trust
for the benefit of the Holders of the shares called for redemption, dividends
shall cease to accumulate on the Redemption Date on the shares to be redeemed
and, at the close of business on the day on which such funds are segregated
and set apart, the Holders of the shares to be redeemed shall cease to be
stockholders of the Company and shall be entitled only to receive the
redemption price for such shares. New certificates of Exchangeable Preferred
Stock having an aggregate Liquidation Preference equal to the unredeemed
portion of the Exchangeable Preferred Stock shall be issued in the name of
the Holder thereof upon cancellation of the original shares of Exchangeable
Preferred Stock without cost to the Holder thereof. Upon surrender, in
accordance with said notice, of the certificates for any shares so redeemed
(properly endorsed or assigned for transfer, if the Company shall so require
and the notice shall so state), such shares shall be redeemed by the Company
at the applicable redemption price. Shares of Exchangeable Preferred Stock
issued and reacquired by the Company shall, upon compliance with the
applicable requirements of Minnesota law, have the status of authorized but
unissued Undesignated Shares of the Company and may, with any and all other
authorized but unissued Undesignated Shares of the Company, be designated or
redesignated, and issued or reissued, as the case may be, as part of any
series of capital stock of the Company, except that any issuance or
reissuance of shares of Exchangeable Preferred Stock must be in compliance
with this Certificate of Designation.

         (g) Any deposit of funds with a bank or trust company for the
purpose of redeeming Exchangeable Preferred Stock shall be irrevocable except
that:

                  (i) the Company shall be entitled to receive from such bank
         or trust company the interest or other earnings, if any, earned on any
         money so deposited in trust, and the Holders of any shares redeemed
         shall have no claim to such interest or other earnings; and

                  (ii) any balance of monies so deposited by the Company and
         unclaimed by the Holders of the Exchangeable Preferred Stock entitled
         thereto at the expiration of two years from the applicable Redemption
         Date shall be repaid, together with any interest or other earnings
         earned thereon, to the Company, and after any such repayment, the
         Holders of the shares entitled to the funds so repaid to the Company
         shall look only to the Company for payment without interest or other
         earnings.

         (h) No Exchangeable Preferred Stock may be redeemed except with funds
legally available for the purpose. The Company shall take all actions required
or permitted under

                                      26

<PAGE>

the MBCA to permit any redemption which is required pursuant to clause (a)
above or which the Company elects pursuant to clause (b) above.

         (i) No optional redemption shall be authorized or made unless on or
prior to such redemption full unpaid cumulative dividends shall have been
paid or a sum set apart for such payment on the Exchangeable Preferred Stock.

         6. EXCHANGE OF EXCHANGEABLE PREFERRED STOCK FOR EXCHANGE DEBENTURES.

         (a) The Company may, at its option, on any scheduled Dividend
Payment Date following the consummation of the Triton Acquisition, exchange,
in whole, but not in part, the Exchangeable Preferred Stock for the Exchange
Debentures to be issued under an indenture (the "Exchange Indenture") in the
form attached hereto as Annex A to be entered into between the Company and a
trustee to be selected by the Company (the "Debentures Trustee"); PROVIDED
that (i) on the date of such exchange there are no accumulated and unpaid
dividends on the Exchangeable Preferred Stock (including the dividends
payable on such date) or other contractual impediments to such exchange; (ii)
there shall be legally available funds sufficient therefor (including,
without limitation, funds sufficient under Minnesota law to repay
Indebtedness when due); (iii) a registration statement relating to the
Exchange Debentures shall have been declared effective under the Securities
Act prior to or on the Exchange Date and shall continue to be in effect on
the date of such exchange; (iv) if required by applicable law, the Exchange
Indenture and the Debentures Trustee thereunder shall have been qualified
under the Trust Indenture Act; (v) immediately prior and after giving effect
to such exchange, no Event of Default (as defined in the Exchange Indenture)
or event which with notice or lapse of time or both would become such an
Event of Default would exist and be continuing and no material breach or
default would exist under the Credit Facility or the Notes Indenture; and
(vi) the Company shall have delivered to the Debentures Trustee a written
Opinion of Counsel, dated the Exchange Date, regarding the satisfaction of
all the conditions to be satisfied prior to such exchange including, without
limitation, those conditions set forth in clauses (i), (ii), (iii) and (iv)
and the due authorization, execution, delivery and enforceability of both the
Exchange Debentures and the Exchange Indenture. In the event that (x) the
issuance of the Exchange Debentures is not permitted on the Exchange Date or
(y) any of the conditions set forth in clauses (i) through (vi) of the
preceding sentence are not satisfied on the Exchange Date, the Company shall
use its best efforts to satisfy such conditions and effect such exchange as
soon as practicable. Notwithstanding the foregoing, in the event of any such
exchange occurring on or before , 2005, any accumulated and unpaid dividends
on the Exchangeable Preferred Stock (including the dividends payable on such
date) may be paid through the issuance of Exchangeable Debentures.

         (b) Upon any exchange of Exchangeable Preferred Stock for Exchange
Debentures on the Exchange Date pursuant to clause (a) of this SECTION 6,
Holders of

                                      27

<PAGE>

outstanding shares of Exchangeable Preferred Stock shall be entitled to
receive, subject to the second succeeding sentence, $1.00 of principal amount
of Exchange Debentures for each $1.00 of the Liquidation Preference of
Exchangeable Preferred Stock held by them. The Exchange Debentures shall be
issued in registered form, without coupons. Exchange Debentures issued in
exchange for Exchangeable Preferred Stock shall be issued in principal
amounts of $1,000 and integral multiples thereof, and the Company shall pay
cash in lieu of issuing an Exchange Debenture in any other principal amount.
On and after the Exchange Date, dividends will cease to accumulate on the
outstanding shares of Exchangeable Preferred Stock, and all rights of the
Holders of Exchangeable Preferred Stock (except the right to receive the
Exchange Debentures, an amount in cash, to the extent applicable, equal to
the accumulated and unpaid dividends to the Exchange Date and cash in lieu of
any Exchange Debenture that is in a principal amount less than $1,000) shall
terminate. The person entitled to receive the Exchange Debentures issuable
upon such exchange shall be treated for all purposes as the registered holder
of such Exchange Debentures.

         (c) The Company shall send a written notice (the "Exchange Notice")
of exchange by mail to each Holder of record of Exchangeable Preferred Stock,
which notice shall state: (i) that the Company is exercising its option to
exchange the Exchangeable Preferred Stock for Exchange Debentures pursuant to
this Certificate of Designation; (ii) the date fixed for exchange (the
"Exchange Date"), which date shall not be less than 30 days nor more than 60
days following the date on which the Exchange Notice is mailed; (iii) that
the Holder is to surrender to the Company, at the place or places where
shares of Exchangeable Preferred Stock are to be surrendered for exchange,
including any procedures applicable to exchanges to be accomplished through
book-entry transfers, in the manner designated in the Exchange Notice, the
shares of Exchangeable Preferred Stock to be exchanged; (iv) that dividends
on the shares of Exchangeable Preferred Stock to be exchanged shall cease to
accrue on the Exchange Date whether or not the shares of Exchangeable
Preferred Stock are surrendered for exchange on the Exchange Date unless the
Company shall default in the delivery of Exchange Debentures; and (v) that
interest on the Exchange Debentures shall accrue from the Exchange Date
whether or not the shares of Exchangeable Preferred Stock are surrendered for
exchange on the Exchange Date. On the Exchange Date, if the conditions set
forth in Sections 6(a)(i) through 6(a)(vi) above and SECTION 6(f) below are
satisfied, the Company shall issue Exchange Debentures in exchange for the
Exchangeable Preferred Stock as provided in this SECTION 6.

         (d) A Holder delivering Exchangeable Preferred Stock for exchange
shall not be required to pay any taxes or duties in respect of the issue or
delivery of Exchange Debentures on exchange but shall be required to pay any
tax or duty that may be payable in respect of any transfer involved in the
issue or delivery of the Exchange Debentures in a name other than that of the
Holder of the Exchangeable Preferred Stock. Certificates representing
Exchangeable Debentures shall not be issued or delivered unless all taxes and
duties, if any, payable by the Holder have been paid.

                                      28

<PAGE>

         (e) On or before the Exchange Date, each Holder of Exchangeable
Preferred Stock shall surrender the shares of Exchangeable Preferred Stock,
in the manner and at the place designated in the Exchange Notice. The Company
shall cause the Exchange Debentures to be executed on the Exchange Date and,
upon surrender in accordance with Exchange Notice of the shares of
Exchangeable Preferred Stock so exchanged (properly endorsed or assigned for
transfer, if the notice shall so state), such shares shall be exchanged by
the Company for Exchange Debentures. The Company shall pay interest, if any,
on the Exchange Debentures at the rate and on the dates specified therein
from the Exchange Date.

         (f) If the Exchange Notice has been mailed in accordance with
SECTION 6(c), the conditions set forth in SECTION 6(a)(i) through 6(a)(vi)
have been satisfied, and before the Exchange Date (i) the Exchange Indenture
shall have been duly executed and delivered by the Company and the Debentures
Trustee; (ii) all Exchange Debentures necessary for such exchange shall have
been duly executed and authenticated by the Company and delivered to the
Debentures Trustee with irrevocable instructions to authenticate the Exchange
Debentures necessary for such exchange; and (iii) an amount in cash, set
aside by the Company, separate and apart from its other funds in trust, or
additional Exchangeable Preferred Stock (as applicable) equal to all
accumulated and unpaid dividends thereon to the Exchange Date shall have been
deposited with the Debentures Trustee, then on and after the close of
business on the Exchange Date, dividends on the shares of Exchangeable
Preferred Stock so exchanged shall cease to accumulate and all rights of the
Holders of such shares shall terminate except for the right to receive from
the Company the Exchange Debentures, cash, if any, and all accrued interest,
if any, thereon to the Exchange Date. Shares of Exchangeable Preferred Stock
issued and reacquired by the Company shall, upon compliance with the
applicable requirements of Minnesota law, have the status of authorized but
unissued Undesignated Shares of the Company, and may, with any and all other
authorized but unissued Undesignated Shares of the Company, be designated or
redesignated, and issued or reissued, as the case may be, as part of any
series of capital stock of the Company, but not as Exchangeable Preferred
Stock.

         (g) The Company shall comply with the provisions of Rule 13e-4
promulgated pursuant to the Exchange Act in connection with any exchange, to
the extent applicable.

         7. VOTING RIGHTS.

         (a) The Holders of shares of the Exchangeable Preferred Stock shall
have no voting rights, except as required by Minnesota law and as hereinafter
provided in this SECTION 7.

         (b) If:

                                      29

<PAGE>

                  (i) at any time, cash dividends on the outstanding
         Exchangeable Preferred Stock are in arrears and unpaid for six (6) or
         more quarterly dividend periods (whether or not consecutive);

                  (ii) the Company fails to redeem the Exchangeable Preferred
         Stock on the Mandatory Redemption Date, or fails to otherwise discharge
         any redemption or repurchase obligation with respect to the
         Exchangeable Preferred Stock;

                  (iii) the Company fails to make a Change of Control Offer on
         the terms and in accordance with the provisions described below in
         SECTION 8 hereof or fails to purchase shares of Exchangeable Preferred
         Stock from Holders who elect to have such shares purchased pursuant to
         the Change of Control Offer;

                  (iv) the Company breaches or violates any of the other
         covenants or agreements set forth in this Certificate of Designation
         and such breach or violation continues for a period of 30 days or more
         after the Company receives notice thereof specifying the default from
         the Holders of at least 25% of the shares of Exchangeable Preferred
         Stock then outstanding;

                  (v) the Company or any of its Restricted Subsidiaries defaults
         under the terms of any instrument evidencing or securing Indebtedness
         having an outstanding principal amount in excess of $10 million in the
         aggregate, which default results in the acceleration of the payment of
         such Indebtedness or constitutes the failure to pay the principal of
         such Indebtedness at maturity; and

                  (vi) the commencement by the Company or any Restricted
         Subsidiary that is a Significant Subsidiary of the Company of a
         voluntary case or proceeding under any applicable Federal or State
         bankruptcy, insolvency, reorganization or other similar law or of any
         other case or proceeding to be adjudicated a bankrupt or insolvent, or
         the consent by the Company or any such Significant Subsidiary to the
         entry of a decree or order for relief in respect of the Company or any
         Restricted Subsidiary that is a Significant Subsidiary of the
         Company in an involuntary case or proceeding under any applicable
         Federal or State bankruptcy, insolvency, reorganization or other
         similar law or to the commencement of any bankruptcy or insolvency
         case or proceeding against the Company or any Restricted Subsidiary
         that is a Significant Subsidiary of the Company, or the filing by
         the Company or any such Restricted Subsidiary that is a Significant
         Subsidiary of the petition or answer or consent seeking reorganization
         or relief under any applicable Federal or State law, or the consent by
         the Company or any such Restricted Subsidiary that is a Significant
         Subsidiary to the filing of such petition or to the appointment of or
         taking possession by a custodian, receiver, liquidator, assignee,
         trustee, sequestrator or similar official of the Company or any
         Restricted Subsidiary that is a Significant Subsidiary of the

                                      30

<PAGE>

         Company or of any substantial part of the property of the Company or
         any Restricted Subsidiary that is a Significant Subsidiary of the
         Company, or the making by the Company or any Restricted Subsidiary of
         the Company of an assignment for the benefit of creditors, or the
         admission by the Company or any such Significant Subsidiary in writing
         of its inability to pay its debts generally as they become due, or the
         taking of corporate action by the Company or any such Significant
         Subsidiary in furtherance of any such action;

then the Holders of a majority of the then outstanding shares of Exchangeable
Preferred Stock, voting as a class (together with the holders of any Parity
Stock having similar voting rights) shall be entitled to elect the lesser of
(I) two directors of the Board of Directors and (II) such number of members
to the Board of Directors constituting at least 25% of the Board of Directors
(each of the events described in clauses (i), (ii), (iii), (iv), (v) and (vi)
being referred to herein as a "Voting Rights Triggering Event"). The voting
rights provided for herein as a result of a Voting Rights Triggering Event
shall represent each Holder's exclusive remedy at law or in equity.

         (c) Whenever the foregoing voting rights shall have vested, such
rights may be exercised initially either at a special meeting of the Holders
of Exchangeable Preferred Stock, called as hereinafter provided, or at any
annual meeting of stockholders of the Company held for the purpose of
electing directors, and thereafter at such annual meetings or by the written
consent of the Holders of Exchangeable Preferred Stock. Such right of the
Holders of Exchangeable Preferred Stock to elect directors may be exercised
until such time as (i) in the case of a dividend default, all dividends in
arrears on the Exchangeable Preferred Stock shall have been paid in full (and
in the case of dividends payable after , 2005, paid in cash) and (ii) in all
other cases, any failure, breach or default giving rise to such Voting Rights
Triggering Event is remedied or waived by the Holders of at least a majority
of the shares of Exchangeable Preferred Stock then outstanding, at which time
the term of any directors elected pursuant to the provisions of SECTION 7(b)
shall thereupon terminate, and such directors shall be deemed to have
resigned.

         (d) At any time when the foregoing voting rights shall have vested
in the Holders of Exchangeable Preferred Stock and if such rights shall not
already have been initially exercised, a proper officer of the Company shall,
upon the written request of Holders of record of 10% or more of the
Exchangeable Preferred Stock then outstanding, addressed to the Secretary of
the Company, call a special meeting of Holders of Exchangeable Preferred
Stock. Such meeting shall be held at the earliest practicable date upon the
notice required for annual meetings of stockholders at the place for holding
annual meetings of stockholders of the Company or, if none, at a place
designated by the Secretary of the Company. If such meeting shall not be
called by the proper officers of the Company within 30 days after the
personal service of such written request upon the Secretary of the Company,
or within 30 days after mailing the same within the United States, by
registered mail, addressed to the

                                      31

<PAGE>

Secretary of the Company at its principal office (such mailing to be
evidenced by the registry receipt issued by the postal authorities), then the
Holders of record of 10% of the shares of Exchangeable Preferred Stock then
outstanding may designate in writing a Holder of Exchangeable Preferred Stock
to call such meeting at the expense of the Company, and such meeting may be
called by such person so designated upon the notice required for annual
meetings of stockholders and shall be held at the place for holding annual
meetings of the Company or, if none, at a place designated by such Holder.
Any Holder of Exchangeable Preferred Stock that would be entitled to vote at
such meeting shall have access to that portion of the stock books of the
Company listing the Holders for the purpose of causing a meeting of
stockholders to be called pursuant to the provisions of this SECTION 7.
Notwithstanding the provisions of this SECTION 7(d) however, no such special
meeting shall be called if any such request is received less than 90 days
before the date fixed for the next ensuing annual or special meeting of
stockholders.

         (e) If any director so elected by the Holders of Exchangeable
Preferred Stock shall cease to serve as a director before his term shall
expire, the Holders of Exchangeable Preferred Stock then outstanding may, at
a special meeting of the Holders called as provided above, elect a successor
to hold office for the unexpired term of the director whose place shall be
vacant.

         (f) In addition to the matters set forth in SECTION 2(b), the
Company shall not, without the affirmative vote or consent of the Holders of
at least a majority of the shares of Exchangeable Preferred Stock then
outstanding (with shares held by the Company or any of its Affiliates not
being considered to be outstanding for this purpose) voting or consenting as
the case may be, as one class:

                  (i) amend or otherwise alter this Certificate of Designation
         (including the provisions of SECTION 8 hereof) or the Escrow Agreement
         in any manner that adversely affects the specified rights, preferences
         or privileges (but not the voting rights) of Holders of Exchangeable
         Preferred Stock;

                  (ii) except as provided in SECTION 2(b), authorize the
         issuance of any additional share of Exchangeable Preferred Stock;

                  (iii) waive any existing Voting Rights Triggering Event or
         compliance with any provision of this Certificate of Designation;

                  (iv) change the shares of Exchangeable Preferred Stock into
         the same or a different number of shares, either with or without par
         value, of another class or series of stock; or

                                      32

<PAGE>

                  (v) divide the shares of Exchangeable Preferred Stock into
         series and determine the designation of each series and the variations
         in the relative rights and preferences between the shares of each
         series, or authorize the Board of Directors to do so;

PROVIDED, HOWEVER, that the Company may not amend

                  (i) the Change of Control provisions of this Certificate of
         Designation (including the related definitions) without the approval of
         the Holders of at least 75% of the then outstanding shares of
         Exchangeable Preferred Stock, voting or consenting, as the case may be,
         as one class; and

                  (ii) the Special Mandatory Redemption provisions set forth in
         SECTION 5(c) (including the related definitions) without the approval
         of the Holders of at least 662/3% of the then outstanding shares of
         Exchangeable Preferred Stock, voting or consenting, as the case may be,
         as one class.

         (g) Without the consent of each Holder affected, an amendment or
waiver of the Company's Articles of Incorporation or of this Certificate of
Designation may not (with respect to any shares of Exchangeable Preferred
Stock held by a non-consenting Holder):

                  (i) alter the voting rights with respect to the Exchangeable
         Preferred Stock or reduce the number of shares of Exchangeable
         Preferred Stock whose holders must consent to an amendment, supplement
         or waiver;

                  (ii) reduce the Liquidation Preference of or change the
         Mandatory Redemption Date of any share of Exchangeable Preferred Stock
         or alter the provisions with respect to the redemption of the
         Exchangeable Preferred Stock (except as provided with respect to
         SECTION 8):

                  (iii) reduce the rate or change the time for payment of
         dividends on any share of Exchangeable Preferred Stock;

                  (iv) waive the consequences of any failure to pay dividends on
         the Exchangeable Preferred Stock;

                  (v) make any share of Exchangeable Preferred Stock payable in
         any form other than that stated in this Certificate of Designation;

                  (vi) make any change in the provisions of this Certificate of
         Designation relating to waivers of the rights of holders of
         Exchangeable Preferred Stock to

                                      33

<PAGE>

         receive the Liquidation Preference and dividends on the Exchangeable
         Preferred Stock;

                  (vii) waive a redemption payment with respect to any share of
         Exchangeable Preferred Stock (except as provided with respect to
         Section 5(c) or SECTION 8); or

                  (viii) make any change in the foregoing amendment and waiver
         provisions.

         (h) The Company in its sole discretion may, without the vote or
consent of any Holders of the Exchangeable Preferred Stock, amend or
supplement this Certificate of Designation or the Escrow Agreement:

                  (i) to cure any ambiguity, defect or inconsistency;

                  (ii) to provide for uncertificated Exchangeable Preferred
         Stock in addition to or in place of certificated Exchangeable Preferred
         Stock; or

                  (iii) to make any change that would provide any additional
         rights or benefits to the Holders of the Exchangeable Preferred Stock
         or that does not adversely affect the legal rights under this
         Certificate of Designation of any such Holder.

         8. CHANGE OF CONTROL.

         (a) Within 30 days after the occurrence a Change of Control, the
Company shall make an offer (the "Change of Control Offer") to each Holder of
shares of Exchangeable Preferred Stock to repurchase all or any part (but
not, in the case of any Holder requiring the Company to purchase less than
all of the shares of Exchangeable Preferred Stock held by such Holder, any
fractional shares) of such Holder's Exchangeable Preferred Stock at an offer
price in cash equal to 101% of the aggregate Liquidation Preference thereof
plus, without duplication, accumulated and unpaid dividends, if any, thereon
to but excluding the date of purchase (the "Change of Control Payment")
(including an amount in cash equal to a pro rated dividend for the period
from the Dividend Payment Date immediately prior to the Change of Control
Payment Date to, but excluding, the Change of Control Payment Date).

         (b) The Change of Control Offer shall include all instructions and
materials necessary to enable Holders to tender their shares of Exchangeable
Preferred Stock.

         (c) The Company shall comply with any tender offer rules under the
Exchange Act which may then be applicable, including the requirements of Rule
14e-1 and any other

                                      34

<PAGE>

securities laws and regulations thereunder to the extent such laws and
regulations are applicable in connection with the repurchase of the
Exchangeable Preferred Stock as a result of a Change of Control. The Change
of Control Offer shall contain information concerning the business of the
Company and its Subsidiaries which the Company in good faith believes will
enable such Holders to make an informed decision with respect to the Change
of Control Offer (which at a minimum will include (i) the most recent annual
and quarterly financial statements, (ii) a description of material
developments in the Company's business subsequent to the date of the latest
of such financial statements referred to in clause (i) (including a
description of the events requiring the Company to make the Change of Control
Offer) and (iii) if applicable, appropriate pro forma financial information
concerning the Change of Control Offer.

         (d) Within 30 days following any Change of Control, the Company
shall mail a notice to each Holder stating:

                  (i) that the Change of Control Offer is being made pursuant
         to this SECTION 8 and that all shares of Exchangeable Preferred Stock
         tendered shall be accepted for payment;

                  (ii) the amount of the Change of Control Payment, the
         purchase date, which shall be not earlier than 30 days nor later than
         60 days from the date such notice is mailed (the "Change of Control
         Payment Date");

                  (iii) that any share of Exchangeable Preferred Stock not
         tendered shall continue to accumulate dividends;

                  (iv) the place or places where shares of Exchangeable
         Preferred Stock are to be surrendered for tender pursuant to the
         Change of Control Offer;

                  (v) that on the Change of Control Payment Date the purchase
         price shall become due and payable upon each share of Exchangeable
         Preferred Stock accepted for payment pursuant to the Change of Control
         Offer and, unless the Company fails to pay the Change of Control
         Payment on the Change of Control Payment Date, all shares of
         Exchangeable Preferred Stock accepted for payment pursuant to the
         Change of Control Offer shall cease to accumulate dividends after the
         Change of Control Payment Date;

                  (vi) that Holders electing to have any shares of Exchangeable
         Preferred Stock purchased pursuant to a Change of Control Offer will be
         required to surrender the shares of Exchangeable Preferred Stock, with
         the form entitled "Option of Holder to Elect Purchase" which shall be
         included with the notice of Change of Control completed, to the Paying
         Agent at the address specified in the notice prior

                                      35

<PAGE>

         to the close of business on the third Business Day preceding the
         Change of Control Payment Date;

                  (vii) that Holders will be entitled to withdraw all or any
         portion of their election if the Paying Agent receives, not later than
         the close of business on the third Business Day preceding the Change of
         Control Payment Date, a telegram, telex, facsimile transmission or
         letter setting forth the name of the Holder, the number of shares of
         Exchangeable Preferred Stock delivered for purchase, the certificate
         number of the Exchangeable Preferred Stock tendered and a statement
         that such Holder is withdrawing all or a portion of his election to
         have such shares purchased; and

                  (viii) that the Holder may tender all or any portion of the
         shares of Exchangeable Preferred Stock held by such Holder and that in
         the case of any Holder whose shares are to be purchased only in part,
         the Company shall execute, authorize and deliver to the Holder, without
         service charge, a new certificate as requested by such Holder, for the
         unpurchased portion of his shares of Exchangeable Preferred Stock.

         (e) On the Change of Control Payment Date, the Company shall, to the
extent lawful, (i) accept for payment all shares of Exchangeable Preferred
Stock or portions thereof properly tendered pursuant to the Change of Control
Offer, (ii) deposit with the Paying Agent an amount equal to the Change of
Control Payment in respect of all shares of Exchangeable Preferred Stock or
portions thereof so tendered and (iii) deliver or cause to be delivered to
the Transfer Agent the shares of Exchangeable Preferred Stock so accepted
together with an Officers' Certificate stating the aggregate Liquidation
Preference of the shares of Exchangeable Preferred Stock or portions thereof
being purchased by the Company. The Paying Agent shall promptly mail to each
holder of Exchangeable Preferred Stock so tendered the Change of Control
Payment for such Exchangeable Preferred Stock, and the Transfer Agent shall
promptly authenticate and mail (or cause to be transferred by book entry) to
each holder a new certificate representing the shares of Exchangeable
Preferred Stock equal in Liquidation Preference amount to any unpurchased
portion of the shares of the shares of Exchangeable Preferred Stock
surrendered, if any. The Company shall publicly announce the results of the
Change of Control Offer on or as soon as practicable after the Change of
Control Payment Date.

         (f) If, at the time of a Change of Control, the Company is
prohibited by the terms of any Indebtedness or any Preferred Stock issued by
the Company from purchasing shares of Exchangeable Preferred Stock that may
be tendered by holders pursuant to a Change of Control Offer, prior to
complying with the provisions of this SECTION 8, but in any event within 90
days following a Change of Control, the Company shall either (i) repay,
redeem or repurchase in full all such outstanding Indebtedness and Preferred
Stock or (ii) obtain the

                                      36

<PAGE>

requisite consents, if any, under all agreements governing such outstanding
Indebtedness and Preferred Stock to permit the repurchase of Exchangeable
Preferred Stock required by this SECTION 8. The Company must first comply
with the covenant described in the preceding sentence before it will be
required to repurchase shares of Exchangeable Preferred Stock in the event of
a Change of Control; PROVIDED that if the Company fails to comply with the
covenant described in the preceding sentence, the sole remedy to holders of
Exchangeable Preferred Stock will be the voting rights arising from a Voting
Rights Triggering Event. Moreover, the Company shall not repurchase or redeem
any Exchangeable Preferred Stock pursuant to this Change of Control provision
prior to (i) the Company's repurchase of the Senior Subordinated Notes
pursuant to the Change of Control covenants in the Notes Indenture and
(ii)(A) the Company's redemption of the Senior Preferred Stock pursuant to
the Change of Control redemption provisions with respect thereto or (B) in
the event the Company has exchanged the Senior Preferred Stock for the
Company's 113/8% senior subordinated debentures, the Company's repurchase of
such debentures pursuant to the Change in Control covenants in the Senior
Preferred Exchange Indenture.

         (g) The Company shall not be required to make a Change of Control
Offer upon a Change of Control if a third party makes the Change of Control
Offer in the manner, at the times and otherwise in compliance with the
requirements set forth in this SECTION 8 applicable to a Change of Control
Offer made by the Company and purchases all shares of Exchangeable Preferred
Stock validly tendered and not withdrawn under such Change of Control Offer.

         9. CERTAIN COVENANTS.

         (a) LIMITATION ON CONSOLIDATED INDEBTEDNESS.

                  (i) The Company and its Restricted Subsidiaries shall not
         Incur any Indebtedness, except that the Company may Incur Indebtedness
         if (A) there exists no Voting Rights Triggering Event or event which
         with notice or lapse of time or both would become a Voting Rights
         Triggering Event immediately prior and subsequent thereto and (B)
         after giving effect thereto, the Company's Annualized Operating Cash
         Flow Ratio on a pro forma basis (calculated on the assumption that
         such Indebtedness had been incurred on the first day of the applicable
         Reference Period), would have been less than:

                                      37

<PAGE>

<TABLE>
<CAPTION>
                           FOR THE PERIOD                     RATIO
                           --------------                     -----
                   <S>                                      <C>
                   Prior to January 1, 2000..........       9.0 to 1.0
                   Thereafter........................       8.0 to 1.0
</TABLE>

                  (ii) Notwithstanding the foregoing, the Company and any
         Restricted Subsidiary may incur the following Indebtedness without
         regard to the foregoing limitations (PROVIDED that if there exists a
         Voting Rights Triggering Event pursuant to clauses (i),(ii), (iii) and
         (vi) of SECTION 7(b) or event which with notice or lapse of time or
         both would become a Voting Rights Triggering Event pursuant to clauses
         (i), (ii) (iii) and (vi) of SECTION 7(b) immediately prior and
         subsequent thereto, the Company and its Restricted Subsidiaries may,
         without regard to the foregoing limitations, only incur the
         Indebtedness described in the following clauses (C), (D) and (L)):

                           (A) Indebtedness outstanding on the Issue Date;

                           (B) the Incurrence by the Company of (x) prior to the
                  date of the consummation of the Triton Acquisition,
                  Indebtedness Incurred under the Existing Credit Facility
                  PROVIDED that the amount of Indebtedness Incurred under the
                  Existing Credit Facility and any other credit facilities
                  similar in type to the Existing Credit Facility does not
                  exceed in an aggregate principal amount $300 million at any
                  time outstanding, reduced by repayments and permanent
                  reductions thereof due to application of (1) Net Cash Proceeds
                  (as defined in the Notes Indenture) pursuant to Section 1015
                  of the Notes Indenture; and (2) Net Proceeds (as defined in
                  the Senior Preferred Exchange Indenture) pursuant to Section
                  1015 of the Senior Preferred Exchange Indenture and (y) on and
                  after the date of the consummation of the Triton Acquisition,
                  Indebtedness Incurred under the New Credit Facility, PROVIDED
                  that the amount of Indebtedness Incurred under the New Credit
                  Facility and any other credit facilities similar in type to
                  the New Credit Facility does not exceed in an aggregate
                  principal amount $1.375 billion at any time outstanding,
                  reduced by such repayments and permanent reductions thereof
                  due to application of (1) Net Cash Proceeds (as defined in the
                  Notes Indenture) as set forth in Section 1015 of the Notes
                  Indenture and (2) Net Cash Proceeds (as defined in Senior
                  Preferred Exchange Indenture) pursuant to Section 1015 of the
                  Senior Preferred Exchange Indenture;

                           (C) Indebtedness of the Company or any Restricted
                  Subsidiary of the Company owing to the Company or any
                  Restricted Subsidiary of the Company ("Intercompany
                  Indebtedness"); PROVIDED that (I) in the case of any

                                      38

<PAGE>

                  such Indebtedness of the Company, such obligations shall be
                  unsecured and subordinated in all respects to the rights of
                  the holders of the Exchange Debentures, if and when issued, to
                  the same extent as the Exchange Debentures will be
                  subordinated to Senior Indebtedness and (II) if any event
                  occurs that causes a Restricted Subsidiary of the Company to
                  no longer be a Restricted Subsidiary of the Company, then this
                  clause (C) shall no longer be applicable to such Indebtedness
                  of that Restricted Subsidiary;

                           (D) Indebtedness of the Company or any Restricted
                  Subsidiary of the Company to renew, extend, refinance or
                  refund any Indebtedness of the Company or such Restricted
                  Subsidiary outstanding or committed on the date of renewal,
                  extension, refinancing or refunding other than Indebtedness
                  Incurred pursuant to clause (B) or (C); PROVIDED, HOWEVER,
                  that such Indebtedness does not exceed the principal amount of
                  outstanding or committed Indebtedness so renewed, extended,
                  refinanced or refunded plus premiums, accrued dividends,
                  accrued interest, financing fees and other expenses associated
                  therewith; and PROVIDED FURTHER, HOWEVER, that (I) such
                  renewing, extending, refinancing or refunding Indebtedness
                  shall not have a final maturity and shall not have any other
                  mandatory repayments or redemptions prior to those of the
                  Indebtedness being renewed, extended, refinanced or refunded;
                  (II) in the case of any refinancing or refunding of
                  Indebtedness that would rank PARI PASSU in right of payment to
                  the Exchange Debentures (if and when issued), the refinancing
                  or refunding Indebtedness would rank PARI PASSU or subordinate
                  in right of payment to the Exchange Debentures (if and when
                  issued) and, in the case of any refinancing or refunding of
                  Indebtedness that would rank subordinate to the Exchange
                  Debentures (if and when issued), the refinancing or refunding
                  Indebtedness would rank subordinated in right of payment to
                  the Exchange Debentures to substantially the same extent as
                  the Indebtedness refinanced or refunded; and (III) no
                  Restricted Subsidiary of the Company shall be permitted to
                  refinance any Indebtedness of the Company pursuant to this
                  clause (D), except that any Restricted Subsidiary may
                  guarantee Indebtedness under this clause (D) if such
                  Restricted Subsidiary had guaranteed the Indebtedness
                  refinanced under this clause (D);

                           (E) Indebtedness Incurred by the Company or any
                  Restricted Subsidiary of the Company under Interest Hedge
                  Agreements to hedge interest on permitted Indebtedness;
                  PROVIDED that the notional principal amount of any such
                  Interest Hedge Agreements does not exceed the principal
                  amount of Indebtedness to which such Interest Hedge
                  Agreements relate;

                                      39

<PAGE>

                           (F) (1) Indebtedness of any Restricted Subsidiary of
                  the Company (excluding Indebtedness of Wireless Alliance, if
                  it becomes a Restricted Subsidiary, incurred pursuant to
                  clause (F) (2) below), which does not exceed $75.0 million in
                  the aggregate for all such Restricted Subsidiaries at any
                  time outstanding (excluding any Intercompany Indebtedness or
                  Acquired Indebtedness permitted to be Incurred under this
                  Certificate of Designation), PROVIDED that after giving
                  effect thereto on a pro forma basis the Company's Annualized
                  Operating Cash Flow Ratio is less than, prior to July 1,
                  2001, 9.0 to 1.0, and thereafter, 8.0 to 1.0, and the
                  Adjusted Annualized Operating Cash Flow Ratio of such
                  Restricted Subsidiary is less than 5.0 to 1.0; and

                                    (2) if it becomes a Restricted Subsidiary of
                  the Company, Indebtedness of Wireless Alliance (excluding any
                  Intercompany Indebtedness or Acquired Indebtedness permitted
                  to be Incurred under this Certificate of Designation) which
                  does not exceed $75.0 million in the aggregate at any time
                  outstanding, PROVIDED that after giving effect thereto on a
                  pro forma basis the Company's Annualized Operating Cash Flow
                  Ratio is less than, prior to July 1, 2001, 9.0 to 1.0, and
                  thereafter, 8.0 to 1.0, and the Adjusted Annualized Operating
                  Cash Flow Ratio of such Restricted Subsidiary is less than 5.0
                  to 1.0;

                           (G) any guarantee by any Restricted Subsidiary of the
                  Company of any Indebtedness Incurred under the Credit Facility
                  in compliance with this SECTION 9(a);

                           (H) Acquired Indebtedness, PROVIDED that on a pro
                  forma basis after giving effect to the Incurrence of such
                  Indebtedness, the Company shall be able to Incur $1.00 of
                  additional Indebtedness pursuant to the provisions described
                  under SECTION 9(a)(i);

                           (I) Indebtedness in respect of performance, surety
                  or appeal bonds provided in the ordinary course of business,
                  Indebtedness constituting reimbursement obligations with
                  respect to letters of credit issued in the ordinary course of
                  business in respect of workers' compensation claims, and
                  self-insurance of other Indebtedness issued in the ordinary
                  course of business with respect to reimbursement type
                  obligations regarding workers' compensation claims;

                           (J) Indebtedness arising from agreements providing
                  for indemnification, adjustment of purchase price or similar
                  obligations, or from guarantees or letters of credit, surety
                  bonds or performance bonds securing

                                      40

<PAGE>

                  any obligations of the Company or any of its Restricted
                  Subsidiaries pursuant to such agreements, in any case
                  Incurred in connection with the disposition of any business,
                  assets or Restricted Subsidiary of the Company (other than
                  guarantees of Indebtedness Incurred by any Person acquiring
                  all or any portion of such business, assets or Restricted
                  Subsidiary of the Company for the purpose of financing such
                  acquisition), in an amount not to exceed the gross proceeds
                  actually received by the Company or any of its Restricted
                  Subsidiaries in connection with such disposition;

                           (K) Indebtedness (including Capital Lease
                  Obligations) Incurred to finance the cost (including the cost
                  of design, development, construction, installation or
                  integration) of telecommunications network assets, equipment
                  or inventory acquired by the Company or any of its Restricted
                  Subsidiaries which, in the aggregate, does not exceed $15.0
                  million at any time outstanding; and

                           (L) Indebtedness of the Company or any Restricted
                  Subsidiary, which does not exceed $75.0 million at any time
                  outstanding.

                           For purposes of determining any particular amount of
                  Indebtedness under this SECTION 9(a), (i) guarantees, Liens or
                  obligations with respect to letters of credit or other similar
                  instruments supporting Indebtedness otherwise included in the
                  determination of such particular amount shall not be included;
                  and (ii) any Liens securing the Exchange Debentures granted
                  pursuant to the equal and ratable provisions referred to under
                  SECTION 9(f) shall not be treated as giving rise to
                  Indebtedness.

                           For purposes of determining compliance with this
                  SECTION 9(a), in the event that an item of Indebtedness meets
                  the criteria of more than one of the types of Indebtedness
                  described in the above clauses (other than Indebtedness
                  referred to in clause (B) above), the Company, in its sole
                  discretion, shall classify (including under the first
                  paragraph of SECTION 9(a)), and from time to time may
                  reclassify (including under the first paragraph of this
                  SECTION 9(a)), such item of Indebtedness and only be required
                  to include the amount and type of such Indebtedness in one of
                  such clauses (or paragraph).

                  The accrual of interest or dividends or the accretion of
                  accreted value will not be deemed an incurrence of
                  Indebtedness for the purposes of this SECTION 9(a).

         (b) LIMITATION ON PREFERRED STOCK OF RESTRICTED SUBSIDIARIES.

                                      41

<PAGE>

                  The Company shall not permit any Restricted Subsidiary of the
         Company to create or issue any Preferred Stock except:

                  (i) Preferred Stock outstanding on the Issue Date;

                  (ii) Preferred Stock issued to and held by the Company or any
         of its Restricted Subsidiaries (PROVIDED that, if such Restricted
         Subsidiary is not a Wholly Owned Restricted Subsidiary of the Company,
         the portion of the liquidation value of such Preferred Stock equal to
         the product of (x) the percentage of the common equity interest of such
         Restricted Subsidiary that the Company does not own, directly or
         indirectly and (y) the aggregate liquidation value of such Preferred
         Stock must be permitted to be issued pursuant to clause (v) below);

                  (iii) Preferred Stock issued by any Person prior to that
         Person's having become a direct or indirect Restricted Subsidiary of
         the Company;

                  (iv) Preferred Stock issued by a Restricted Subsidiary of the
         Company the proceeds of which are used to refinance certain outstanding
         Preferred Stock of such Restricted Subsidiary, PROVIDED that (A) the
         liquidation value of the refinancing Preferred Stock does not exceed
         the liquidation value so refinanced plus premiums, accrued dividends,
         financing fees and other expenses associated with such refinancing and
         (B) such refinancing Preferred Stock has no mandatory redemptions prior
         to (and in no greater amounts than) the Preferred Stock being
         refinanced; and

                  (v) Preferred Stock issued by a Restricted Subsidiary to the
         extent such Preferred Stock, together with all other Restricted
         Subsidiary Indebtedness, could be incurred pursuant to clause (F) or
         (L) of SECTION 9(a)(ii).

         (c) RESTRICTED PAYMENTS.

                  (i) The Company and its Restricted Subsidiaries shall not make
         any Restricted Payment unless after giving effect thereto (A) no Voting
         Rights Triggering Event or event which, with notice or lapse of time or
         both, would become a Voting Rights Triggering Event has occurred and is
         continuing; (B) the Company would be permitted to Incur an additional
         $1.00 of Indebtedness pursuant to SECTION 9(a)(i); (C) the total of all
         Restricted Payments made on or after July 1, 1998 does not exceed the
         sum of (I) Cumulative Operating Cash Flow less 1.75 times Cumulative
         Interest Expense, (II) 100% of the aggregate Qualified Capital Stock
         Proceeds of the Company after the Issue Date (excluding Qualified
         Capital Stock Proceeds received to consummate the Triton Acquisition)
         and (III) an amount equal to the sum of (1) the net reduction in
         Investments (other than reductions in Permitted Investments) in any
         Person resulting from payments of interest on Indebtedness,

                                      42

<PAGE>

         dividends, repayments of loans or advances, or other transfers of
         assets, in each case to the Company or any Restricted Subsidiary or
         from the Net Cash Proceeds from the sale of any such Investments
         (except, in each case, to the extent any such proceeds or other
         amounts are included in the calculation of Consolidated Net Income)
         and (2) the portion (proportionate to the Company's direct or
         indirect equity interest in such Subsidiary) of the Fair Market Value
         of the net assets of an Unrestricted Subsidiary at the time such
         Unrestricted Subsidiary is designated a Restricted Subsidiary;
         PROVIDED, HOWEVER, that the foregoing sum shall not exceed, in the
         case of any Person (including any Unrestricted Subsidiary), the
         amount of Investments previously made (and treated as a Restricted
         Payment) by the Company or its Restricted Subsidiaries in such
         Person; and (D) all accumulated and unpaid dividends on the
         Exchangeable Preferred Stock shall have been paid in full as provided
         in this Certificate of Designation.

                  (ii) The provisions in SECTION 9(c)(i) shall not be violated,
         so long as (except as otherwise provided in clause (D) below) no Voting
         Rights Triggering Event or event which with notice or lapse of time or
         both would become a Voting Rights Triggering Event has occurred and is
         continuing or shall occur as a consequence of the actions or payments
         set forth below, by reason of (A) the payment of any dividend within 60
         days after declaration thereof, if at the declaration date such payment
         would have complied with the foregoing provision, (B) the purchase,
         acquisition, redemption or other acquisition or retirement for value of
         shares of Capital Stock of any Restricted Subsidiary held by Persons
         other than the Company or any of its Restricted Subsidiaries, (C) the
         redemption, defeasance, repurchase or other acquisition or retirement
         of any Junior Stock of the Company or its Restricted Subsidiaries
         either in exchange for or out of the net cash proceeds of the
         substantially concurrent sale (other than to a Subsidiary of the
         Company) of Qualified Junior Stock, (D) the issuance of the Class T
         Convertible Preferred Stock, without regard for whether a Voting Rights
         Triggering Event or event which with notice or lapse of time or both
         would become a Voting Rights Triggering Event has occurred and is
         continuing or shall occur as a consequence of such issuance (provided
         that (i) the liquidation preference of all such preferred stock issued
         upon such exchange shall not exceed $15.0 million), (ii) the annual
         dividend rate on such preferred stock shall not exceed 5.0%, (iii) no
         dividend shall be payable on such preferred stock prior to the
         mandatory redemption date of such preferred stock, (iv) the mandatory
         redemption of such preferred stock shall not occur prior to one year
         after the mandatory redemption of the Exchangeable Preferred Stock and
         (v) such preferred stock is issued in exchange for shares of the
         Company's Class A common stock and Class B common stock in order to
         satisfy the Federal Communications Commission cross ownership rules);
         (E) the purchase, redemption, acquisition, cancellation or other
         retirement for value of shares of Junior Stock of the Company to the
         extent necessary in the good faith judgment of the Board of Directors

                                      43

<PAGE>

         (evidenced by the vote of a majority of the disinterested members) to
         prevent the loss or secure the renewal or reinstatement of any license
         or franchise held by the Company or any Restricted Subsidiary from any
         governmental agency, that is deemed material to the Company or its
         Restricted Subsidiary, as the case may be, by the Board of Directors;
         (F) the purchase, redemption, retirement or other acquisition for value
         of shares of Junior Stock of the Company, or options, warrants or other
         rights to purchase such shares, held by directors, employees or former
         directors or employees of the Company or of any Restricted Subsidiary,
         or their estates or beneficiaries under their estates, upon death,
         disability, retirement, termination of employment or pursuant to the
         terms of any agreement under which such shares of Junior Securities or
         options, warrants or other rights were issued, but only if the
         aggregate consideration paid for such purchase, redemption,
         acquisition, cancellation or other retirement of such shares of Junior
         Stock or options, warrants or other rights after the Issue Date does
         not exceed (1) $2.0 million in any calendar year (provided that unused
         amounts may be carried over to succeeding 12 month periods, subject to
         a maximum aggregate carry over of $2.0 million), plus (2) the aggregate
         net cash proceeds received by us during that calendar year from any
         reissuance of the Qualified Capital Stock to the directors and
         employees of the Company and its Restricted Subsidiaries' (PROVIDED
         that the amount of any such net cash proceeds that are used to permit
         a purchase, redemption, retirement or other acquisition for value
         pursuant to this clause (F) shall be excluded from clause (B) of the
         preceding paragraph); and (G) Restricted Payments, in addition to
         Restricted Payments permitted pursuant to clauses (A) through (F)
         above, not in excess of $25 million in the aggregate after the Issue
         Date.

         The payments described in clauses (A), (C) (PROVIDED that the proceeds
         of the sale of the Qualified Junior Stock constitute Qualified Capital
         Stock Proceeds), (E), (F) and (G) of this SECTION 9(c)(ii) shall count
         as Restricted Payments for the calculation under SECTION 9(c)(i).

         (d) LIMITATIONS CONCERNING DISTRIBUTIONS AND TRANSFERS BY RESTRICTED
SUBSIDIARIES.

                  The Company shall not, and shall not permit any Restricted
         Subsidiary of the Company to, create or otherwise cause or suffer to
         exist or become effective any consensual restriction or prohibition on
         the ability of any of its Restricted Subsidiaries to: (A) pay dividends
         on, or make other distributions in respect of, its Capital Stock, or
         any other ownership interest or participation in, or measured by, its
         profits, to the Company or any Restricted Subsidiary of the Company or
         pay any Indebtedness or other obligation owed to the Company or any
         Restricted Subsidiary of the Company; (B) make any loans or advances to
         the Company or any Restricted Subsidiary of the Company; or (C)
         transfer any of its property or assets to the

                                      44

<PAGE>

         Company or any Restricted Subsidiary of the Company. Notwithstanding
         the foregoing, the Company may, and may permit any Restricted
         Subsidiary of the Company to, suffer to exist any such restriction
         or prohibition: (I) pursuant to this Certificate of Designation, the
         Notes Indenture, the Existing Credit Facility, the certificate of
         designation governing the Senior Preferred Stock or any other
         agreement in effect on the Issue Date; (II) pursuant to an agreement
         relating to any Indebtedness of such Restricted Subsidiary which was
         outstanding or committed prior to the date on which such Restricted
         Subsidiary was acquired by the Company other than in anticipation of
         becoming a Restricted Subsidiary, PROVIDED that such restriction or
         prohibition shall not apply to any property or assets of the Company
         or any of its Restricted Subsidiaries other than the property or
         assets of such Restricted Subsidiary and its Subsidiaries; (III)
         pursuant to an agreement effecting a renewal, extension, refinancing
         or refunding of any agreement described in clauses (I) and (II) above,
         PROVIDED, HOWEVER, that the provisions contained in such renewal,
         extension, refinancing or refunding agreement relating to such
         restriction or prohibition are no more restrictive in any material
         respect than the provisions contained in the agreement the subject
         thereof; (IV) existing under or by reason of applicable law; (V)
         customary provisions restricting subletting or assignment of any
         lease governing any leasehold interest of any Restricted Subsidiary;
         (VI) purchase money obligations for property acquired in the ordinary
         course of business that impose restrictions of the type referred to
         in clause (C) of this SECTION 9(d); (VII) restrictions of the type
         referred to in clause (C) of this SECTION 9(d) contained in security
         agreements securing Indebtedness of a Restricted Subsidiary to the
         extent that such Liens were otherwise Incurred in accordance with
         SECTION 9(f) below and restrict the transfer of property subject to
         such agreements; (VIII) customary provisions in joint venture
         agreements and other similar agreements entered into in the ordinary
         course of business or (IX) pursuant to contracts with respect solely
         to a Restricted Subsidiary which have been entered into for the sale
         or disposition of Capital Stock or assets of such Restricted
         Subsidiary (PROVIDED that (1) such restriction or prohibition applies
         solely to the Capital Stock or assets of such Restricted Subsidiary
         which are being sold, (2) immediately after giving effect to the
         transactions contemplated by such contract, no Voting Rights
         Triggering Event or circumstance which with notice or lapse of time
         or both would become a Voting Rights Triggering Event would exist and
         (3) such restriction or prohibition is terminated on the earlier of
         the date the transactions contemplated by such contract are
         consummated or the first anniversary of the date of such contract).

                                      45

<PAGE>

         (e) LIMITATIONS ON TRANSACTIONS WITH AFFILIATES AND RELATED PERSONS.

                  The Company shall not, and shall not permit any Restricted
         Subsidiary of the Company to, enter into any transaction involving
         aggregate consideration (i) up to $1 million, including, without
         limitation, any purchase, sale, lease or exchange of property or the
         rendering of any service, with or to any Affiliate or Related Person of
         the Company (other than a Restricted Subsidiary), unless the Company's
         management determines in good faith that (A) such transaction is in the
         best interests of the Company or such Restricted Subsidiary and (B)
         such transaction is on terms that are no less favorable to the Company
         or such Restricted Subsidiary than those which might be obtained in
         arm's- length transactions with a third party at the time; (ii) in
         excess of $1.0 million but not exceeding $5.0 million, unless the
         management of the Company makes the determination (which determination
         will be evidenced by an Officers' Certificate) set forth in clause (i)
         of this paragraph; and (iii) in excess of $5.0 million, unless a
         majority of disinterested members of the Board of Directors of the
         Company makes the determinations (which determinations will be
         evidenced by a Board Resolution) set forth in clause (i) of this
         paragraph.

                  Notwithstanding the foregoing, the following payments shall
         not be subject to the provisions described in the first paragraph of
         this covenant: (i) payment of customary fees and indemnity payments to
         our directors who are not employees of the Company and the payment of
         compensation and indemnity payments to officers of the Company, in each
         case, in the ordinary course of business and (ii) Restricted Payments
         made in compliance with SECTION 9(c).

         (f)      LIMITATIONS ON LIENS.

                  (i) The Company shall not, and shall not permit any Restricted
         Subsidiary of the Company to, Incur or suffer to exist any Lien on or
         with respect to any property or assets now owned or hereafter acquired
         to secure any Indebtedness that ranks in right of payment PARI PASSU
         with or subordinate to the Exchange Debentures, if and when issued,
         without making, or causing such Restricted Subsidiary to make,
         effective provision for securing the Exchange Debentures, if and when
         issued, (A) equally and ratably with such Indebtedness as to such
         property for so long as such Indebtedness shall be so secured or (B) in
         the event such Indebtedness is Indebtedness of the Company or a
         Restricted Subsidiary of the Company which is subordinate in right of
         payment to the Exchange Debentures, if and when issued, prior to such
         Indebtedness as to such property for so long as such Indebtedness will
         be so secured.

                  (ii) The restrictions in SECTION 9(f)(i) shall not apply to
         (A) Liens existing in respect of any Indebted ness that exists on the
         Issue Date; (B) Liens in favor of the

                                       46
<PAGE>

         Company or Liens in favor of a Wholly Owned Restricted Subsidiary of
         the Company on the assets or Capital Stock of another Wholly Owned
         Restricted Subsidiary of the Company; (C) Liens to secure
         Indebtedness outstanding or committed for the purpose of financing
         all or any part of the purchase price or the cost of construction or
         improvement of the equipment or other property subject to such
         Liens; PROVIDED, HOWEVER, that (I) the principal amount of any
         Indebted ness secured by such a Lien does not exceed 100% of such
         purchase price or cost, (II) such Lien does not extend to or cover any
         other property other than such item of property or any improvements
         on such item and (III) the Incurrence of such Indebtedness is
         otherwise permitted by this Certificate of Designation; (D) Liens on
         property existing immediately prior to the time of acquisition
         thereof (and not Incurred in anticipation of the financing of such
         acquisition); (E) Liens to secure Indebtedness to extend, renew,
         refinance or refund (or successive extensions, renewals,
         refinancings or refundings), in whole or in part, Indebtedness
         secured by any Lien referred to in clauses (A), (C) and (D) of this
         SECTION 9(f)(ii) so long as such Lien does not extend to any other
         property and the principal amount of Indebtedness so secured is not
         increased except as otherwise permitted under clause (B) or (D) of
         SECTION 9 (a)(ii); (F) Liens on any Permitted Investment in
         Cooperative Bank Equity in favor of any Cooperative Banks; (G) Liens
         securing letters of credit entered into in the ordinary course of
         business and consistent with past business practice; or (H) any
         other Liens in respect of any Indebtedness which Indebtedness does
         not exceed $1 million in the aggregate.

         (g)      LIMITATION ON CERTAIN DEBT.

                  The Company shall not Incur any Indebtedness that is
         subordinate in right of payment to any other Indebtedness of the
         Company unless the Indebtedness so Incurred is either PARI PASSU or
         subordinate in right of payment to the Exchange Debentures (if and when
         issued). For the avoidance of doubt, the foregoing limitation will not
         apply to distinctions between categories of the Company's Senior
         Indebtedness that exist by reason of any Liens or guarantees arising or
         created in respect of some but not all such Senior Indebtedness.

         (h)      CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE.

                  The Company shall not consolidate with or merge into any
         Person or permit any other Person to consolidate with or merge into the
         Company, or transfer, sell, convey or lease or otherwise dispose of all
         or substantially all of its assets to, any Person unless, (i) (A) the
         Company is the surviving entity or (B) if the Company is not the
         surviving entity, then the successor or transferee shall be a
         corporation organized and validly existing under the laws of the United
         States of America or any jurisdiction thereof and the Exchangeable
         Preferred Stock shall be converted into or

                                        47
<PAGE>

         exchanged for and shall become shares of such successor or
         transferee company, having in respect of such successor or
         transferee company substantially the same powers, preferences and
         relative participating, optional or other special rights and the
         qualifications, limitations or restrictions thereon that the
         Exchangeable Preferred Stock had immediately prior to such
         transaction, (ii) the Consolidated Net Worth of the successor or
         transferee immediately after the transaction is not less than 100%
         of the Company's Consolidated Net Worth immediately prior to the
         transaction, (iii) immediately after giving effect to such
         transaction, the Company (or its permitted successor or transferee)
         would be permitted to Incur at least $1.00 of additional
         Indebtedness pursuant to SECTION 9(a)(i), (iv) after giving effect
         to such transaction no Voting Rights Triggering Event or event which
         with notice or lapse of time would become a Voting Rights Triggering
         Event has occurred and is continuing, and (v) an Officers'
         Certificate and an Opinion of Counsel covering such conditions shall
         be delivered to the Transfer Agent.

                  However, clause (iii) above will not apply if, in good faith
         determination of the Board of Directors, whose determination shall be
         evidenced by a Board Resolution, the principal purpose of the
         transaction is to change the Company's state of incorporation and the
         transaction shall have not have as one of its purposes the evasion of
         the foregoing limitations.

         (i)      REPORTS.

                  Whether or not the Company is subject to the reporting
         requirements of Section 13 or 15(d) of the Exchange Act, the Company
         shall deliver to the Transfer Agent and to each Holder, within 15 days
         after it is or would have been required to file such with the
         Commission, annual and quarterly financial statements substantially
         equivalent to financial statements that would have been included in
         reports filed with the Commission, if the Company were subject to the
         requirements of Section 13 or 15(d) of the Exchange Act, including,
         with respect to annual information only, a report thereon by the
         Company's certified independent public accountants as such would be
         required in such reports to the Commission, and in each case, together
         with a management's discussion and analysis of financial condition and
         results of operations which would be so required.

10.      AMENDMENT.

         Unless otherwise provided in SECTION 2(b) or 7, neither this
Certificate of Designation or the Escrow Agreement shall be amended, either
directly or indirectly, or through merger or consolidation with another entity,
in any manner that would alter or change the powers, preferences or special
rights of the Exchangeable Preferred Stock so as to affect them

                                        48
<PAGE>

adversely without the affirmative vote of the Holders of a majority or more
of the outstanding Exchangeable Preferred Stock voting separately as a class.

11.      EXCLUSION OF OTHER RIGHTS.

         Except as may otherwise be required by law, the shares of Exchangeable
Preferred Stock shall not have any voting powers, preferences and relative,
participating, optional or other special rights, other than those specifically
set forth in this Certificate of Designation (as such Certificate of Designation
may be amended from time to time in accordance with the terms hereof) and in the
Articles of Incorporation. The shares of Exchangeable Preferred Stock shall have
no preemptive or subscription rights.

12.      HEADINGS OF SECTIONS.

         The headings of the various sections and subsections hereof are for
convenience of reference only and shall not affect the interpretation of any of
the provisions hereof.

13.      SEVERABILITY OF PROVISIONS.

         If any voting power, preference or relative, participating, optional
and other special right of the Exchangeable Preferred Stock or qualification,
limitation or restriction thereof set forth in this Certificate of Designation
(as this Certificate of Designation may be amended from time to time) is
invalid, unlawful or incapable of being enforced by reason of any rule of law or
public policy, all other voting powers, preferences and relative, participating,
optional and other special rights of Exchangeable Preferred Stock and
qualifications, limitations and restrictions thereof set forth in this
Certificate of Designation (as so amended) which can be given effect without the
invalid, unlawful or unenforceable voting power, preference and relative,
participating, optional or other special right of Exchangeable Preferred Stock
or qualification, limitation or restriction thereof, shall, nevertheless, remain
in full force and effect, and no voting powers, preferences and relative,
participating, optional or other special rights of Exchangeable Preferred Stock
and qualifications, limitations and restrictions thereof herein set forth shall
be deemed dependent upon any other such voting powers, preferences and relative,
participating, optional or other special rights of Exchangeable Preferred Stock
and qualifications, limitations and restrictions thereof unless so expressed
herein.

14.      OTHER INSTRUMENTS OR AGREEMENTS.

         It is the intent of the Company that this Certificate of Designation
shall stand on its own and shall not be read as one agreement with, or be deemed
to relate to, any other instrument executed by the Company or any other
agreement entered into by the Company, on the one hand, and any holder of
Preferred Stock of the Company, on the other hand, for

                                        49
<PAGE>

purposes of determining the intended meaning of any provision in this
Certificate of Designation or any such other instrument or agreement. In
furtherance of the foregoing, it is understood and agreed by the Company and
each Holder of Exchangeable Preferred Stock that the inclusion of provisions
in this Certificate of Designation not included in any such other instrument
or agreement (or the exclusion of provisions in this Certificate of
Designation included in any such other instrument or agreement) shall not
affect the interpretation of the provisions of this Certificate of
Designation and such other instrument or agreement.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

                                        50
<PAGE>

         IN WITNESS WHEREOF, the Company has caused this certificate to be duly
executed by ___________________________________________ of the Company and by
____________________________________ of the Company, this _ day of January,
2000.

                                            RURAL CELLULAR CORPORATION

                                            By: ____________________________
                                            Name:
                                            Title:

                                            By: ____________________________
                                            Name:
                                            Title:

ATTEST:

By: ____________________________
Name:
Title:

<PAGE>

                                       ANNEX A

                              FORM OF EXCHANGE INDENTURE

------------------------------------------------------------------------------
------------------------------------------------------------------------------

                             RURAL CELLULAR CORPORATION

                                         TO

                              NORWEST BANK MINNESOTA,
                                NATIONAL ASSOCIATION
                                      as Trustee

                                  -----------------

                                     INDENTURE

                          Dated as of _____________, _____

                                  -----------------

                                  $______________

                     % Senior Subordinated Debentures due 2011

------------------------------------------------------------------------------
------------------------------------------------------------------------------
<PAGE>

                                 TABLE OF CONTENTS

                                    ARTICLE ONE

                          DEFINITIONS AND OTHER PROVISIONS
                               OF GENERAL APPLICATION
<TABLE>

<S>              <C>                                                             <C>
SECTION 101.     Definitions.. . . . . . . . . . . . . . . . . . . . . . . . . .  -1-
SECTION 102.     Compliance Certificates and Opinions. . . . . . . . . . . . . . -25-
SECTION 103.     Form of Documents Delivered to Trustee. . . . . . . . . . . . . -25-
SECTION 104.     Acts of Holders; Record Date. . . . . . . . . . . . . . . . . . -26-
SECTION 105.     Notices, Etc., to Trustee and Company.. . . . . . . . . . . . . -27-
SECTION 106.     Notice to Holders; Waiver . . . . . . . . . . . . . . . . . . . -28-
SECTION 107.     Conflict with Trust Indenture Act . . . . . . . . . . . . . . . -28-
SECTION 108.     Effect of Headings and Table of Contents. . . . . . . . . . . . -28-
SECTION 109.     Successors and Assigns. . . . . . . . . . . . . . . . . . . . . -29-
SECTION 110.     Separability Clause . . . . . . . . . . . . . . . . . . . . . . -29-
SECTION 111.     Benefits of Indenture . . . . . . . . . . . . . . . . . . . . . -29-
SECTION 112.     Governing Law.. . . . . . . . . . . . . . . . . . . . . . . . . -29-
SECTION 113.     Legal Holidays. . . . . . . . . . . . . . . . . . . . . . . . . -29-
SECTION 114.     Counterparts. . . . . . . . . . . . . . . . . . . . . . . . . . -30-
SECTION 115.     Other Agreements. . . . . . . . . . . . . . . . . . . . . . . . -30-

                                    ARTICLE TWO

                                   SECURITY FORMS

SECTION 201.     Forms Generally.. . . . . . . . . . . . . . . . . . . . . . . . -31-
SECTION 202.     Form of Face of Security. . . . . . . . . . . . . . . . . . . . -31-
SECTION 203.     Form of Reverse of Security.. . . . . . . . . . . . . . . . . . -34-
SECTION 204.     Form of Trustee's Certificate of Authentication.. . . . . . . . -38-

                                   ARTICLE THREE

                                   THE SECURITIES

SECTION 301.     Title and Terms.. . . . . . . . . . . . . . . . . . . . . . . . -39-
SECTION 302.     Denominations.. . . . . . . . . . . . . . . . . . . . . . . . . -40-
SECTION 303.     Execution, Authentication, Delivery and Dating. . . . . . . . . -40-
SECTION 304.     Temporary Securities. . . . . . . . . . . . . . . . . . . . . . -41-
SECTION 305.     Global Securities . . . . . . . . . . . . . . . . . . . . . . . -42-

                                       i

<PAGE>

SECTION 306.     Registration; Registration of Transfer and Exchange Generally;
                 Certain Transfers and Exchanges.. . . . . . . . . . . . . . . . -43-
SECTION 307.     Mutilated, Destroyed, Lost and Stolen Securities. . . . . . . . -45-
SECTION 308.     Payment of Interest; Interest Rights Preserved. . . . . . . . . -46-
SECTION 309.     Persons Deemed Owners . . . . . . . . . . . . . . . . . . . . . -47-
SECTION 310.     Cancellation. . . . . . . . . . . . . . . . . . . . . . . . . . -48-
SECTION 311.     Computation of Interest . . . . . . . . . . . . . . . . . . . . -48-

                                    ARTICLE FOUR

                             SATISFACTION AND DISCHARGE

SECTION 401.     Satisfaction and Discharge of Indenture.. . . . . . . . . . . . -49-
SECTION 402.     Application of Trust Money. . . . . . . . . . . . . . . . . . . -50-

                                    ARTICLE FIVE

                                      REMEDIES

SECTION 501.     Events of Default.. . . . . . . . . . . . . . . . . . . . . . . -51-
SECTION 502.     Acceleration of Maturity; Rescission and Annulment. . . . . . . -53-
SECTION 503.     Collection of Indebtedness and Suits for Enforcement by
                 Trustee.. . . . . . . . . . . . . . . . . . . . . . . . . . . . -54-
SECTION 504.     Trustee May File Proofs of Claim. . . . . . . . . . . . . . . . -55-
SECTION 505.     Trustee May Enforce Claims Without Possession of
                 Securities. . . . . . . . . . . . . . . . . . . . . . . . . . . -56-
SECTION 506.     Application of Money Collected. . . . . . . . . . . . . . . . . -56-
SECTION 507.     Limitation on Suits . . . . . . . . . . . . . . . . . . . . . . -57-
SECTION 508.     Unconditional Right of Holders to Receive Principal
                 Premium and Interest. . . . . . . . . . . . . . . . . . . . . . -57-
SECTION 509.     Restoration of Rights and Remedies. . . . . . . . . . . . . . . -58-
SECTION 510.     Rights and Remedies Cumulative. . . . . . . . . . . . . . . . . -58-
SECTION 511.     Delay or Omission Not Waiver. . . . . . . . . . . . . . . . . . -58-
SECTION 512.     Control by Holders. . . . . . . . . . . . . . . . . . . . . . . -58-
SECTION 513.     Waiver of Past Defaults . . . . . . . . . . . . . . . . . . . . -59-
SECTION 514.     Undertaking for Costs . . . . . . . . . . . . . . . . . . . . . -59-
SECTION 515.     Waiver of Stay or Extension Laws. . . . . . . . . . . . . . . . -60-

                                      ii

<PAGE>

                                    ARTICLE SIX

                                    THE TRUSTEE

SECTION 601.     Certain Duties and Responsibilities.. . . . . . . . . . . . . . -61-
SECTION 602.     Notice of Defaults. . . . . . . . . . . . . . . . . . . . . . . -61-
SECTION 603.     Certain Rights of Trustee . . . . . . . . . . . . . . . . . . . -62-
SECTION 604.     Not Responsible for Recitals or Issuance of Securities. . . . . -63-
SECTION 605.     May Hold Securities . . . . . . . . . . . . . . . . . . . . . . -64-
SECTION 606.     Money Held in Trust . . . . . . . . . . . . . . . . . . . . . . -64-
SECTION 607.     Compensation and Reimbursement. . . . . . . . . . . . . . . . . -64-
SECTION 608.     Disqualification; Conflicting Interests . . . . . . . . . . . . -65-
SECTION 609.     Corporate Trustee Required; Eligibility . . . . . . . . . . . . -65-
SECTION 610.     Resignation and Removal; Appointment of Successor . . . . . . . -66-
SECTION 611.     Acceptance of Appointment by Successor. . . . . . . . . . . . . -67-
SECTION 612.     Merger, Conversion, Consolidation or Succession to Business . . -67-
SECTION 613.     Preferential Collection of Claims Against Company . . . . . . . -68-
SECTION 614.     Appointment of Authenticating Agent . . . . . . . . . . . . . . -68-

                                   ARTICLE SEVEN

                 HOLDERS' LISTS AND REPORTS BY TRUSTEE AND COMPANY

SECTION 701.     Company to Furnish Trustee Names and Addresses of Holders . . . -70-
SECTION 702.     Preservation of Information; Communications to Holders. . . . . -70-
SECTION 703.     Reports by Trustee. . . . . . . . . . . . . . . . . . . . . . . -71-
SECTION 704.     Reports by Company. . . . . . . . . . . . . . . . . . . . . . . -71-

                                   ARTICLE EIGHT

                CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE

SECTION 801.     Company May Consolidate, Etc. Only on Certain Terms . . . . . . -72-
SECTION 802.     Successor Substituted . . . . . . . . . . . . . . . . . . . . . -73-

                                    ARTICLE NINE

                              SUPPLEMENTAL INDENTURES

SECTION 901.     Supplemental Indentures Without Consent of Holders. . . . . . . -74-
SECTION 902.     Supplemental Indentures with Consent of Holders . . . . . . . . -74-

                                      iii

<PAGE>

SECTION 903.     Execution of Supplemental Indentures. . . . . . . . . . . . . . -75-
SECTION 904.     Effect of Supplemental Indentures . . . . . . . . . . . . . . . -76-
SECTION 905.     Conformity with Trust Indenture Act . . . . . . . . . . . . . . -76-
SECTION 906.     Reference in Securities to Supplemental Indentures. . . . . . . -76-
SECTION 907.     Notice of Supplemental Indenture. . . . . . . . . . . . . . . . -76-

                                    ARTICLE TEN

                                     COVENANTS

SECTION 1001.    Payment of Principal, Premium and Interest. . . . . . . . . . . -77-
SECTION 1002.    Maintenance of Office or Agency . . . . . . . . . . . . . . . . -77-
SECTION 1003.    Money for Security Payments to be Held in Trust.. . . . . . . . -77-
SECTION 1004.    Existence . . . . . . . . . . . . . . . . . . . . . . . . . . . -79-
SECTION 1005.    Maintenance of Properties . . . . . . . . . . . . . . . . . . . -79-
SECTION 1006.    Payment of Taxes and Other Claims . . . . . . . . . . . . . . . -80-
SECTION 1007.    Maintenance of Insurance. . . . . . . . . . . . . . . . . . . . -80-
SECTION 1008.    Limitation on Consolidated Indebtedness . . . . . . . . . . . . -80-
SECTION 1009.    Limitation on Preferred Stock of Restricted Subsidiaries. . . . -84-
SECTION 1010.    Limitation on Certain Indebtedness. . . . . . . . . . . . . . . -85-
SECTION 1011.    Limitation on Restricted Payments . . . . . . . . . . . . . . . -85-
SECTION 1012.    Limitations Concerning Distributions and Transfers By
                 Restricted Subsidiaries . . . . . . . . . . . . . . . . . . . . -87-
SECTION 1013.    Limitations on Liens. . . . . . . . . . . . . . . . . . . . . . -88-
SECTION 1014.    Limitation on Transactions with Affiliates and Related
                 Persons . . . . . . . . . . . . . . . . . . . . . . . . . . . . -89-
SECTION 1015.    Limitation on Asset Sales . . . . . . . . . . . . . . . . . . . -90-
SECTION 1016.    [INTENTIONALLY LEFT BLANK]. . . . . . . . . . . . . . . . . . . -93-
SECTION 1017.    Change of Control . . . . . . . . . . . . . . . . . . . . . . . -93-
SECTION 1018.    Statement by Officers as to Default; Compliance Certificates. . -95-
SECTION 1019.    Waiver of Certain Covenants . . . . . . . . . . . . . . . . . . -95-
SECTION 1020.    [INTENTIONALLY LEFT BLANK]  . . . . . . . . . . . . . . . . . . -96-

                                   ARTICLE ELEVEN

                              REDEMPTION OF SECURITIES

SECTION 1101.    Right of Redemption . . . . . . . . . . . . . . . . . . . . . . -97-
SECTION 1102.    Applicability of Article Eleven . . . . . . . . . . . . . . . . -97-
SECTION 1103.    Election to Redeem; Notice to Trustee . . . . . . . . . . . . . -97-
SECTION 1104.    Selection by Trustee of Securities to Be Redeemed . . . . . . . -97-

                                      iv

<PAGE>

SECTION 1105.    Notice of Redemption. . . . . . . . . . . . . . . . . . . . . . -98-
SECTION 1106.    Deposit of Redemption Price . . . . . . . . . . . . . . . . . . -99-
SECTION 1107.    Securities Payable on Redemption Date . . . . . . . . . . . . . -99-
SECTION 1108.    Securities Redeemed in Part . . . . . . . . . . . . . . . . . . -99-

                                   ARTICLE TWELVE

                            SUBORDINATION OF SECURITIES

SECTION 1201.    Securities Subordinate to Senior Indebtedness . . . . . . . . .-100-
SECTION 1202.    Payment Over of Proceeds Upon Dissolution . . . . . . . . . . .-100-
SECTION 1203.    No Payment When Senior Indebtedness in Default. . . . . . . . .-101-
SECTION 1204.    Payment Permitted If No Default . . . . . . . . . . . . . . . .-102-
SECTION 1205.    Subrogation to Rights of Holders of Senior Indebtedness . . . .-103-
SECTION 1206.    Provisions Solely to Define Relative Rights . . . . . . . . . .-103-
SECTION 1207.    Trustee to Effectuate Subordination . . . . . . . . . . . . . .-104-
SECTION 1208.    No Waiver of Subordination Provisions . . . . . . . . . . . . .-104-
SECTION 1209.    Notice to Trustee.. . . . . . . . . . . . . . . . . . . . . . .-104-
SECTION 1210.    Reliance on Judicial Order or Certificate of Liquidating
                 Agent . . . . . . . . . . . . . . . . . . . . . . . . . . . . .-105-
SECTION 1211.    Trustee Not Fiduciary for Holders of Senior Debt. . . . . . . .-106-
SECTION 1212.    Rights of Trustee as Holder of Senior Indebtedness;
                 Preservation of Trustee's Rights. . . . . . . . . . . . . . . .-106-
SECTION 1213.    Article Twelve Applicable to Paying Agents. . . . . . . . . . .-106-
SECTION 1214.    Defeasance of this Article Twelve . . . . . . . . . . . . . . .-106-

                                  ARTICLE THIRTEEN

                         DEFEASANCE AND COVENANT DEFEASANCE

SECTION 1301.    Company's Option to Effect Defeasance or Covenant
                 Defeasance. . . . . . . . . . . . . . . . . . . . . . . . . . .-107-
SECTION 1302.    Defeasance and Discharge. . . . . . . . . . . . . . . . . . . .-107-
SECTION 1303.    Covenant Defeasance . . . . . . . . . . . . . . . . . . . . . .-108-
SECTION 1304.    Conditions to Defeasance or Covenant Defeasance . . . . . . . .-108-
SECTION 1305.    Deposited Money and U.S. Government Obligations to be
                 Held in Trust; Other Miscellaneous Provisions . . . . . . . . .-110-
SECTION 1306.    Reinstatement . . . . . . . . . . . . . . . . . . . . . . . . .-111-

</TABLE>
                                       v

<PAGE>

          INDENTURE, dated as of __________, _____ (this "Indenture"), between
Rural Cellular Corporation, a corporation duly organized and existing under the
laws of the State of Minnesota (herein called the "Company"), having its
principal office at 3905 Dakota Street S. W., Alexandria, Minnesota  56308, and
Norwest Bank Minnesota, National Association, having its principal office at N
9303-120, Sixth and Marquette Avenue, Minneapolis, Minnesota 55479-0069, a trust
company duly organized and existing under the laws of the State of Minnesota, as
Trustee (herein called the "Trustee").

                               RECITALS OF THE COMPANY

          The Company has duly authorized the creation of an issue of its
[ ]% Senior Subordinated Debentures due 2011 (the "Securities") of substantially
the tenor and amount hereinafter set forth, and to provide therefor the Company
has duly authorized the execution and delivery of this Indenture.

          All things necessary to make the Securities, when executed by the
Company and authenticated and delivered hereunder and duly issued by the
Company, the valid obligations of the Company, and to make this Indenture a
valid agreement of the Company, in accordance with their and its terms, have
been done.

          NOW, THEREFORE, THIS INDENTURE WITNESSETH:

          For and in consideration of the premises and the purchase of the
Securities by the Holders thereof, it is mutually covenanted and agreed, for the
equal and proportionate benefit of all Holders of the Securities, as follows:

                                     ARTICLE ONE

                           DEFINITIONS AND OTHER PROVISIONS
                                OF GENERAL APPLICATION

SECTION 101.     DEFINITIONS.

          For all purposes of this Indenture, except as otherwise expressly
provided or unless the context otherwise requires:

          (1)    the terms defined in this Article have the meanings assigned to
     them in this Article and include the plural as well as the singular;

<PAGE>

          (2)    all other terms used herein which are defined in the Trust
     Indenture Act, either directly or by reference therein, have the meanings
     assigned to them therein;

          (3)    all accounting terms not otherwise defined herein have the
     meanings assigned to them in accordance with generally accepted accounting
     principles (whether or not such is indicated herein), and, except as
     otherwise herein expressly provided, the term "generally accepted
     accounting principles" with respect to any computation required or
     permitted hereunder shall mean such accounting principles as are generally
     accepted at the date of such computation;

          (4)    unless otherwise specifically set forth herein, all
     calculations or determinations of a Person shall be performed or made on a
     consolidated basis in accordance with generally accepted accounting
     principles but shall not include the assets and liabilities of Unrestricted
     Subsidiaries, except to the extent of dividends and distributions actually
     paid to the Company or one of its Wholly Owned Restricted Subsidiaries; and

          (5)    the words "herein," "hereof" and "hereunder" and other words of
     similar import refer to this Indenture as a whole and not to any particular
     Article, Section or other subdivision.

          Certain terms, used principally in Articles Six and Ten, are defined
as provided in such Articles.

          "Acquired Indebtedness" means Indebtedness of a Person (including an
Unrestricted Subsidiary) (i) existing at the time such Person becomes a
Restricted Subsidiary or (ii) assumed in connection with the acquisition of
assets from such Person, in the case of both of the preceding clause (i) and
clause (ii), other than Indebtedness incurred in connection with, or in
contemplation of, such Person becoming a Restricted Subsidiary or such
acquisition.  Acquired Indebtedness shall be deemed to be Incurred on the date
of the related acquisition of assets from any Person or the date the acquired
Person becomes a Restricted Subsidiary.

          "Acquired Person" has the meaning specified in the definition of
Permitted Investments.

          "Act," when used with respect to any Holder, has the meaning specified
in Section 104.

          "Additional Securities" has the meaning set forth in Section 301.

                                      -2-
<PAGE>

          "Adjusted Annualized Operating Cash Flow Ratio" of any Person means
the Annualized Operating Cash Flow Ratio of such Person as adjusted to treat all
Preferred Stock of such Person as Redeemable Stock.

          "Administrative Agent" means the Person or Persons designated as such
under the Credit Facility.

          "Affiliate" of any Person means any other Person directly or
indirectly controlling or controlled by or under direct or indirect common
control with such Person.  For the purposes of this definition, "control" when
used with respect to any Person means the power to direct the management and
policies of such Person, directly or indirectly, whether through the ownership
of voting securities, by contract or otherwise; and the terms "controlling" and
"controlled" have meanings correlative to the foregoing.

          "Agent Member" means any member of, or participant in, the Depositary.

          "Annualized Operating Cash Flow" of any Person means the Operating
Cash Flow of such Person for the Reference Period multiplied by two.

          "Annualized Operating Cash Flow Ratio" of any Person on any date (the
"Transaction Date") means, with respect to any Person and its Restricted
Subsidiaries, the ratio of (i) Consolidated Indebtedness of such Person and its
Restricted Subsidiaries on the Transaction Date (after giving pro forma effect
to the Incurrence of any Indebtedness on such Transaction Date) divided by (ii)
the aggregate amount of Annualized Operating Cash Flow of such Person
(determined on a pro forma basis after giving effect to all dispositions of
businesses made by such Person and its Restricted Subsidiaries from the
beginning of the Reference Period through the Transaction Date as if such
dispositions had occurred at the beginning of such Reference Period); PROVIDED
that for purposes of such computation, in calculating Annualized Operating Cash
Flow and Consolidated Indebtedness:  (a) the transaction giving rise to the need
to calculate the Annualized Operating Cash Flow Ratio will be assumed to have
occurred (on a pro forma basis) on the first day of the Reference Period; (b)
the Incurrence of any Indebtedness during the Reference Period or subsequent
thereto and on or prior to the Transaction Date (and the application of the
proceeds therefrom to the extent used to retire Indebtedness) will be assumed to
have occurred (on a pro forma basis) on the first day of such Reference Period;
(c) Consolidated Interest Expense attributable to any Indebtedness (whether
existing or being incurred) bearing a floating interest rate shall be computed
as if the rate in effect on the Transaction Date had been the applicable rate
for the entire Reference Period; (d) all members of the consolidated group of
such Person on the Transaction Date that were acquired during the Reference
Period shall be deemed to be members of the consolidated group of such Person
for the entire Reference Period; and (e) the Indebtedness and Annualized
Operating Cash Flow of any Restricted Subsidiary that is not a Wholly Owned
Restricted Subsidiary shall be determined in

                                      -3-
<PAGE>

accordance with the actual percentage of the Person's common equity interest
in such Restricted Subsidiary on the date of determination of the Annualized
Operating Cash Flow Ratio (thus, for example, in the case of a Restricted
Subsidiary in which such Person owns a 51% common equity interest, 51% of
such Subsidiary's Indebtedness and of such Subsidiary's Annualized Operating
Cash Flow would be included in the calculation of such Person's aggregate
Indebtedness and Annualized Operating Cash Flow, respectively).  When the
foregoing definition is used in connection with the Company and its
Restricted Subsidiaries, references to a Person and its Restricted
Subsidiaries in the foregoing definition shall be deemed to refer to the
Company and its Restricted Subsidiaries.

          "Applicable Premium" means, with respect to any Securities being
redeemed or paid on any redemption date, the greater of (i) 1.0% of the
aggregate principal amount of such Securities being redeemed or paid; or (ii)
the excess of (A) the present value at such redemption date of (1) the
redemption price of such Securities being redeemed or paid at ____________,
2005 (such redemption price being set forth in the table under Article 2)
plus (2) all required interest payments due on such Securities being redeemed
or paid through        , 2005 (such interest to be deemed to be payable in
cash for purposes of such determination (assuming a 360-day year consisting
of twelve 30-day months) but excluding accrued and unpaid interest since the
most recent interest payment date), computed on a semi-annual basis for
Securities using a discount rate equal to the Treasury Rate plus 50.0 basis
point over, (B) the principal amount of such Securities being redeemed or
paid.

          "Applicable Procedures" means, with respect to any transfer or
transaction involving a Global Security or beneficial interest therein, the
rules and procedures of the Depositary for such Security, Euroclear and CEDEL,
in each case to the extent applicable to such transaction and as in effect from
time to time.

          "Asset Sale" has the meaning specified in Section 1015.

          "Asset Sale Offer" has the meaning set forth in Section 1015.

          "Asset Sale Offer Amount" has the meaning set forth in Section 1015.

          "Asset Sale Offer Date" has the meaning set forth in Section 1015.

          "Asset Sale Offer Period" has the meaning set forth in Section 1015.

          "Authenticating Agent" means any Person authorized by the Trustee to
act on behalf of the Trustee to authenticate Securities.

                                      -4-
<PAGE>

          "Board of Directors" of a Person which is a corporation, means either
the board of directors of that Person or any duly authorized committee of that
board.

          "Board Resolution" means a copy of a resolution certified by the
Secretary or an Assistant Secretary of the Company to have been duly adopted by
the Board of Directors of the Company, to be in full force and effect on the
date of such certification and delivered to the Trustee.

          "Business Day" means each Monday, Tuesday, Wednesday, Thursday and
Friday which is not a day on which banking institutions in New York City or the
State of Minnesota are authorized or obligated by law or executive order to
close.

          "Capital Lease Obligation" means that portion of any obligation of a
Person as lessee under a lease which is required to be capitalized on the
balance sheet of such lessee in accordance with generally accepted accounting
principles.

          "Capital Stock" means, with respect to any Person,  any and all
shares, interests, participations or other equivalents (however designated,
including voting and non-voting) of equity of such Person.

          "Cash Equivalents" means (i) securities issued or directly and fully
guaranteed or insured by the United States of America or any agency or
instrumentality thereof (PROVIDED that the full faith and credit of the United
States of America is pledged in support thereof), in each case maturing within
one year after the date of acquisition, (ii) time deposits and certificates of
deposit of, and commercial paper issued by the parent corporation of any
domestic commercial bank or domestic branch of any foreign commercial bank
organized in any OECD member country, in each case, of recognized standing
having capital and surplus in excess of $500 million and commercial paper issued
by others rated at least A-2 or the equivalent thereof by Standard & Poor's
Corporation or at least P-2 or the equivalent thereof by Moody's Investors
Service, Inc. and in each case maturing within one year after the date of
acquisition, (iii )repurchase obligations with a term of not more than seven
days for underlying securities of the types described in clauses (i) and (ii)
above entered into with any financial institution meeting the qualifications
specified in clauses (iii) and (iv) herein, and (iv) investments in money market
funds substantially all of whose assets comprise securities of the types
described in (i) and (ii) above.

          "CEDEL" means Cedel Bank, S.A. (or any successor securities clearing
agency).

          "Change of Control" has the meaning set forth in Section 1017.

          "Change of Control Offer" has the meaning set forth in Section 1017.

                                      -5-
<PAGE>

          "Change of Control Offer Period" has the meaning set forth in Section
1017.

          "Change of Control Offer Purchase Date" has the meaning set forth in
Section 1017.

          "Commission" means the United States Securities and Exchange
Commission.

          "Common Stock" means, with respect to any Person, any and all shares,
interests, participations or other equivalents (however designated, including
voting and non-voting) of equity of such Person.

          "Company" means the Person named as the "Company" in the first
paragraph of this instrument until a successor Person shall have become such
pursuant to the applicable provisions of this Indenture and thereafter "Company"
shall mean such successor Person.

          "Company Request" or "Company Order" means a written request or order
signed in the name of the Company by its Chairman of the Board, its President or
a Vice President, and by its Treasurer, an Assistant Treasurer, its Secretary or
an Assistant Secretary, and delivered to the Trustee.

          "Consolidated Indebtedness" of any Person means at any date the
Indebtedness of such Person and its Restricted Subsidiaries at such date.

          "Consolidated Interest Expense" of any Person means for any period the
interest expense included in an income statement (taking into account the effect
of any Interest Hedge Agreements but without deduction of interest income) of
such Person and its Restricted Subsidiaries for such period, including without
limitation or duplication (or, to the extent not so included, with the addition
of), (i) the portion of any rental obligation in respect of any Capital Lease
Obligation allocable to interest expense in accordance with generally accepted
accounting principles; (ii) the amortization of Indebtedness discounts; (iii)
any payments or fees with respect to letters of credit, bankers' acceptances or
similar facilities; (iv) fees with respect to Interest Hedge Agreements; (v) the
portion of any rental obligations in respect of any Sale and Leaseback
Transaction allocable to interest expense (determined as if such were treated as
a Capital Lease Obligation); and (vi) Preferred Stock dividends accrued or
payable other than dividends on Qualified Capital Stock of such Person.

          "Consolidated Net Income" of any Person means for any period the net
income (or loss) of such Person and its Restricted Subsidiaries for such period
determined on a consolidated basis in accordance with generally accepted
accounting

                                      -6-
<PAGE>

principles; PROVIDED that there shall be excluded therefrom (to the extent
included and without duplication) (i) the net income (or loss) of any Person
acquired by such Person or a Restricted Subsidiary of such Person after the
date of this Indenture in a pooling-of-interests transaction for any period
prior to the date of such transaction, (ii) the net income (or loss) of any
Person that is not a Restricted Subsidiary of such Person except to the
extent of the amount of dividends or other distributions actually paid to
such Person by such other Person during such period, (iii) gains or losses
from sales of assets other than sales of assets acquired and held for resale
in the ordinary course of business, (iv) for purposes of Section 1011, the
net income, if positive, of any Restricted Subsidiary to the extent that the
declaration or payment of dividends or similar distributions by such
Restricted Subsidiary of such net income is not at that time permitted by the
operation of the terms of its charter or any agreement, instrument, judgment,
decree, order, statute, rule or governmental regulations applicable to such
Restricted Subsidiary, and (v) all extraordinary gains and extraordinary
losses.

          "Consolidated Net Worth" of any Person means the consolidated
shareholders' equity of such Person, determined on a consolidated basis in
accordance with generally accepted accounting principles; PROVIDED that, with
respect to the Company, adjustments following the date of this Indenture to the
accounting books and records of the Company in accordance with Accounting
Principles Board Opinions Nos. 16 and 17 (or successor opinions thereto) or
otherwise resulting from the acquisition of control of the Company by another
Person and its Subsidiaries shall not be given effect; PROVIDED FURTHER, that
such computation shall exclude (i) any amounts attributable to Redeemable Stock
or any equity security convertible into or exchangeable for Indebtedness, the
cost of treasury stock and the principal amount of any promissory notes
receivable from the sale of the Capital Stock of the Company or any of its
Restricted Subsidiaries and (ii) Unrestricted Subsidiaries.

          "Cooperative Bank Equity" means non-voting equity interests in
Cooperative Banks.

          "Cooperative Banks" means lenders under the Credit Facility which are
cooperative banks.

          "Corporate Trust Office" means the principal office of the Trustee at
N 9303-120, Sixth and Marquette Avenue, Minneapolis, Minnesota 55479-0069 at
which at any particular time its corporate trust business shall be administered
or such other location designated by the Trustee in a report pursuant to Section
703(a).

          "Credit Facility" means the Existing Credit Facility or the New Credit
Facility including, in each case, any and all instruments and agreements
executed in connection therewith, as such documents may be amended, restated,
supplemented,

                                      -7-
<PAGE>

renewed, replaced or otherwise modified from time to time irrespective of any
changes in the terms and conditions thereof.

          "Cumulative Interest Expense" means the total amount of Consolidated
Interest Expense of the Company and its Restricted Subsidiaries for the period
beginning July 1, 1998 through and including the end of the last fiscal quarter
preceding the date of any proposed Restricted Payment.

          "Cumulative Operating Cash Flow" means Operating Cash Flow of the
Company and its Restricted Subsidiaries for the period beginning July 1, 1998
through and including the end of the last fiscal quarter preceding the date of
any proposed Restricted Payment.

          "Defaulted Interest" has the meaning specified in Section 308.

          "Depositary" means a clearing agency registered under the Exchange Act
that is designated to act as Depositary for the Securities until a successor
Depositary shall have become such pursuant to the applicable provisions of this
Indenture, and thereafter "Depositary" shall mean such successor Depositary.
The Depositary will initially be DTC.

          "Designated Senior Indebtedness" means the Indebtedness under the
Credit Facility.

          "DTC" means The Depository Trust Company, a New York corporation.

          "DWAC" means the DTC Deposit/Withdrawal at Custodian System.

          "Euroclear" means the Euroclear Clearance System (or any successor
securities clearing agency).

          "Event of Default" has the meaning specified in Section 501.

          "Exchange Act" refers to the Securities Exchange Act of 1934, as
amended.

          "Exchange Date" means the time and date the Securities are first
issued under this Indenture in exchange for the Exchangeable Preferred Stock.

          "Exchangeable Preferred Stock" means the Company's __% Junior
Exchangeable Preferred Stock.

                                      -8-
<PAGE>

          "Existing Credit Facility" means the Amended and Restated Loan
Agreement, dated as of July 1, 1998, by and among TD Securities (USA) Inc., as
arranging agent for the lenders and as such agreement may be further amended,
supplemented, restated or otherwise modified from time to time, including,
without limitation, any renewals, extensions, substitutions, refinancing,
restructuring, replacements, supplementation or other modifications of the
foregoing that increase the aggregate amount of borrowings outstanding or the
aggregate commitments of the lenders thereunder, extend or shorten the maturity
of any Indebtedness incurred thereunder or contemplated thereby or add or delete
borrowers or guarantors thereunder or that effect any other change in the terms
and conditions thereof.

          "Expiration Date" has the meaning specified in the definition of Offer
to Purchase.

          "Fair Market Value" means, with respect to any assets or Person, the
price which could be negotiated in an arm's-length free market transaction, for
cash, between a willing seller and a willing buyer, neither of whom is under
undue pressure or compulsion to complete the transaction.  Fair Market Value
will be determined (i) if such Person or assets have a Fair Market Value in
excess of $250,000, but not in excess of $5 million, by any officer of the
Company and evidenced by an Officers' Certificate, dated within 30 days of the
relevant transaction, or (ii) if such Person or assets has a Fair Market Value
of $5 million or more, by a majority of the Board of Directors of the Company
and evidenced by a Board Resolution, dated within 30 days of the relevant
transaction, based on an appraisal of an independent appraiser of national
reputation.

          "Global Securities" has the meaning set forth in Section 201.

          "Holder" means a Person in whose name a Security is registered in the
Security Register.

          "Incur" means, with respect to any Indebtedness or other obligation of
any Person, to create, issue, incur (by conversion, exchange or otherwise),
assume, guarantee or otherwise become liable in respect of such Indebtedness or
other obligation or the recording, as required pursuant to generally accepted
accounting principles or otherwise, of any such Indebtedness or other obligation
on the balance sheet of such Person (and "Incurrence," "Incurred," "Incurrable"
and "Incurring" shall have meanings correlative to the foregoing); PROVIDED,
HOWEVER, that a change in generally accepted accounting principles that results
in an obligation of such Person that exists at such time becoming Indebtedness
shall not be deemed an Incurrence of such Indebtedness.

          "Indebtedness" means (without duplication), with respect to any
Person, whether recourse is to all or a portion of the assets of such Person and
whether or not contingent, (i) every obligation of such Person for money
borrowed, (ii) every obligation

                                      -9-

<PAGE>

of such Person evidenced by bonds, debentures, notes or similar instruments,
including obligations Incurred in connection with the acquisition of
property, assets or businesses, (iii) every reimbursement obligation of such
Person with respect to letters of credit, bankers' acceptances or similar
facilities issued for the account of such Person, (iv) every obligation of
such Person issued or assumed as the deferred purchase price of property or
services (but excluding trade accounts payable or accrued liabilities arising
in the ordinary course of business), (v) every Capital Lease Obligation of
such Person, (vi) the maximum fixed redemption or repurchase price of
Redeemable Stock of such Person at the time of determination, (vii) every
obligation to pay rent or other payment amounts of such Person with respect
to any Sale and Leaseback Transaction to which such Person is a party other
than any other such obligation which would constitute an operating lease
obligation of such Person under United States generally accepted accounting
principles, (viii) all obligations under Interest Hedge Agreements, (ix)
every obligation of the type referred to in clauses (i) through (viii) of
another Person and all dividends of another Person the payment of which, in
either case, such Person has guaranteed or is responsible or liable, directly
or indirectly, as obligor, guarantor or otherwise or which is secured by a
Lien on any asset of such Person and (x) the liquidation value of Preferred
Stock of a Subsidiary of such person issued and outstanding and held by other
than such Person (or one of its Restricted Subsidiaries, except that if such
Restricted Subsidiary is not a Wholly Owned Restricted Subsidiary of such
Person, the portion of the liquidation value of such Preferred Stock equal to
the product of (1) the percentage of the common equity interest of such
Restricted Subsidiary that is not owned, directly or indirectly, by such
Person and (2) the aggregate liquidation value of such Preferred Stock shall
constitute Indebtedness); PROVIDED that for all purposes of this Indenture,
(A) the amount outstanding at any time of any Indebtedness issued with
original issue discount is the face amount of such Indebtedness less the
unamortized portion of the original issue discount of such Indebtedness at
the time of its issuance as determined in conformity with generally accepted
accounting principles, (B) money borrowed at the time of the Incurrence of
any Indebtedness in order to pre-fund the payment of interest on such
Indebtedness shall be deemed not to be "Indebtedness" and (C) Indebtedness
shall not include any liability for federal, state, local or other taxes.
For purposes of this Indenture, the amount of any Indebtedness shall be the
amount determined in respect thereof as of the end of the then most recently
ended fiscal quarter of such Person, and in making such determination, if any
agreement relating to such obligation provides for the netting of amounts
payable by and to such Person thereunder or if any such agreement provides
for the simultaneous payment of amounts by and to such Person or in any event
until the counterparty thereunder defaults in its corresponding payment, then
in each such case, the amount of such obligations shall be the net amount so
determined, plus any premium due upon default by such Person.

          "Indenture" means this instrument as originally executed or as it may
from time to time be supplemented or amended by one or more indentures
supplemental hereto entered into pursuant to the applicable provisions hereof.

                                      -10-
<PAGE>

          "Intercompany Indebtedness" has the meaning set forth in Section 1008.

          "Interest Hedge Agreements" means any interest rate swap, cap, collar,
floor, option or swap agreements, or any similar arrangements designed to hedge
the risk of variable interest rate volatility or to reduce interest costs,
arising at any time between the Company or any Restricted Subsidiary, on the one
hand, and any Person (other than an Affiliate of the Company or any Restricted
Subsidiary), on the other hand, as such agreement or arrangement may be
modified, supplemented and in effect from time to time.

          "Interest Payment Date" means the Stated Maturity of an installment of
interest on the Securities.

          "Investment" by any Person in any other Person means (without
duplication):  (a) the acquisition (whether by purchase, merger, consolidation
or otherwise) by such Person (whether for cash, property, services, securities
or otherwise) of capital stock, bonds, notes, debentures, partnership or other
ownership interests or other securities of such other Person or any agreement to
make any such acquisition; (b) the making by such Person of any deposit with, or
advance, loan or other extension of credit to, such other Person (including the
purchase of property from another Person subject to an understanding or
agreement, contingent or otherwise, to resell such property to such other
Person) or any commitment to make any such advance, loan or extension; (c) the
entering into by such Person of any guarantee of, or other contingent obligation
with respect to, Indebtedness or other liability of such other Person; (d) the
making of any capital contribution by such Person to such other Person; and (e)
the designation by the Board of Directors of the Company of any Person to be an
Unrestricted Subsidiary. For purposes of Section 1011 (i) "Investment" shall
include and be valued at the Fair Market Value of such Person's PRO RATA
interest in the net assets of any Restricted Subsidiary at the time that such
Restricted Subsidiary is designated an Unrestricted Subsidiary and shall exclude
the lesser of (A) the Fair Market Value of such Person's pro rata interest in
the net assets of any Unrestricted Subsidiary at the time that such Unrestricted
Subsidiary is designated a Restricted Subsidiary and (B) the Fair Market Value
of the amount of such Person's Investments (other than Permitted Investments)
made in (net of cash distributions received from) such Unrestricted Subsidiary
since the date of this Indenture, and (ii) the amount of any Investment shall be
the Fair Market Value of such Investment at the time any such Investment is
made.

          "Issue Date" means the time and date of the first issuance of the
Exchangeable Preferred Stock.

          "Junior Certificate of Designation" means the Certificate of
Designation of Voting Power, Preferences and Relative, Participating, Optional
and other Special Rights and Qualifications, Limitations and Restrictions of the
Exchangeable Preferred Stock.

                                      -11-
<PAGE>

          "Lien" means, with respect to any property or assets, any mortgage or
deed of trust, pledge, hypothecation, assignment, deposit arrangement, security
interest, lien, charge, easement (other than any easement not materially
impairing usefulness or marketability), encumbrance, preference, priority or
other security agreement or preferential arrangement of any kind or nature
whatsoever on or with respect to such property or assets (including, without
limitation, any conditional sale or other title retention agreement having
substantially the same economic effect as any of the foregoing).

          "Marketable Securities" has the meaning set forth in Section 1015.

          "Maturity" means, when used with respect to any Security, the date on
which the principal of such Security becomes due and payable as therein or
herein provided, whether at the Stated Maturity or by declaration of
acceleration, call for redemption or otherwise.

          "Net Cash Proceeds" means the aggregate amount of cash and Cash
Equivalents received by the Company and its Restricted Subsidiaries in respect
of an Asset Sale (including upon the conversion to cash and Cash Equivalents of
(a) any note or installment receivable at any time or (b) any other property as
and when any cash and Cash Equivalents are received in respect of any property
received in an Asset Sale but only to the extent such cash and Cash Equivalents
are received within one year after such Asset Sale), less the sum of (i) all
reasonable out-of-pocket fees, commissions and other expenses incurred in
connection with such Asset Sale, including the amount (estimated in good faith
by the Board of Directors of the Company) of income, franchise, sales and other
applicable taxes required to be paid by the Company or any Restricted Subsidiary
of the Company in connection with such Asset Sale and (ii) the aggregate amount
of cash so received which is used to retire any existing Senior Indebtedness or
Indebtedness of the Company that ranks PARI PASSU in right of payment with the
Securities or existing Indebtedness of such Restricted Subsidiaries, as the case
may be, which is required to be repaid in connection with such Asset Sale or is
secured by a Lien on the property or assets of the Company or any of its
Restricted Subsidiaries, as the case may be.

          "New Credit Facility" means the amendment and restatement of the
refinancing or replacement of the Existing Credit Facility in connection with
and conditioned upon the consummation of the Triton Acquisition, with the same,
a deletion of, or additional lenders, including, without limitation, any
successive renewals, extensions, substitutions, refinancing, restructurings,
replacements, supplementations or other modifications of the foregoing that
increase the aggregate amount of borrowing outstanding or the aggregate
commitments of the lenders thereunder, extend or shorten the maturity of any
Indebtedness incurred thereunder or contemplated thereby or add or delete
borrowers or guarantors thereunder or that effect any other change in the terms
and conditions hereof.

                                      -12-
<PAGE>

          "Notes Indenture" means that certain Indenture dated as of May 14,
1998, relating to the Company's Senior Subordinated Notes.

          "Notice of Default" has the meaning specified in Section 501.

          "Offer" has the meaning specified in the definition of Offer to
Purchase.

          "Offer to Purchase" means a written offer (the "Offer") sent by the
Company to each Holder at his address appearing in the Security Register on the
date of the Offer offering to purchase up to the principal amount of Securities
specified in such Offer at the purchase price specified in such Offer (as
determined pursuant to this Indenture).  Unless otherwise required by applicable
law, the Offer shall specify an expiration date (the "Expiration Date") of the
Offer to Purchase which, subject to any contrary requirements of applicable law,
shall be not less than 30 days nor more than 60 days after the date of such
Offer to Purchase and a settlement date (the "Purchase Date") for purchase of
Securities within five Business Days after the Expiration Date. The Company
shall notify the Trustee at least 15 Business Days (or such shorter period as is
acceptable to the Trustee) prior to the mailing of the Offer of the Company's
obligation to make an Offer to Purchase, and the Offer shall be mailed by the
Company or, at the Company's request, by the Trustee in the name and at the
expense of the Company.  The Offer shall contain information concerning the
business of the Company and its Subsidiaries which the Company in good faith
believes will enable such Holders to make an informed decision with respect to
the Offer to Purchase (which at a minimum will include (i) the most recent
annual and quarterly financial statements and "Management's Discussion and
Analysis of Financial Condition and Results of Operations" contained in the
documents required to be filed with the Trustee pursuant to Section 704 (which
requirements may be satisfied by delivery of such documents together with the
Offer), (ii) a description of material developments in the Company's business
subsequent to the date of the latest of such financial statements referred to in
clause (i) (including a description of the events requiring the Company to make
the Offer to Purchase), (iii) if applicable, appropriate pro forma financial
information concerning the Offer to Purchase and the events requiring the
Company to make the Offer to Purchase and (iv) any other information required by
applicable law to be included therein.  The Offer shall contain all instructions
and materials necessary to enable such Holders to tender Securities pursuant to
the Offer to Purchase.  The Offer shall also state:

          (1)    the Section of this Indenture pursuant to which the Offer to
     Purchase is being made;

          (2)    the Expiration Date and the Purchase Date;

          (3)    the aggregate principal amount of the Outstanding Securities
     offered to be purchased by the Company pursuant to the Offer to Purchase

                                      -13-
<PAGE>

     (including, if less than 100%, the manner by which such has been determined
     pursuant to the Section hereof requiring the Offer to Purchase) (the
     "Purchase Amount");

          (4)    the purchase price to be paid by the Company for each $1,000
     aggregate principal amount of Securities accepted for payment (as specified
     pursuant to this Indenture) (the "Purchase Price");

          (5)    that the Holder may tender all or any portion of the Securities
     registered in the name of such Holder and that any portion of a Security
     tendered must be tendered in an integral multiple of $1,000 principal
     amount;

          (6)    the place or places where Securities are to be surrendered for
     tender pursuant to the Offer to Purchase;

          (7)    that on the Purchase Date the Purchase Price will become due
     and payable upon each Security accepted for payment pursuant to the Offer
     to Purchase and that interest thereon shall cease to accrue on and after
     the Purchase Date;

          (8)    that each Holder electing to tender a Security pursuant to the
     Offer to Purchase will be required to surrender such Security at the place
     or places specified in the Offer prior to the close of business on the
     Expiration Date (such Security being, if the Company or the Trustee so
     requires, duly endorsed by, or accompanied by a written instrument of
     transfer in form satisfactory to the Company and the Trustee duly executed
     by, the Holder thereof or his attorney duly authorized in writing);

          (9)    that Holders will be entitled to withdraw all or any portion of
     Securities tendered if the Company (or its Paying Agent) receives, not
     later than the close of business on the Expiration Date, a telegram, telex,
     facsimile transmission or letter setting forth the name of the Holder, the
     principal amount of the Security the Holder tendered, the certificate
     number of the Security the Holder tendered and a statement that such Holder
     is withdrawing all or a portion of his tender;

          (10)   that (a) if Securities in an aggregate principal amount less
     than or equal to the Purchase Amount are duly tendered and not withdrawn
     pursuant to the Offer to Purchase, the Company shall purchase all such
     Securities and (b) if Securities in an aggregate principal amount in excess
     of the Purchase Amount are tendered and not withdrawn pursuant to the Offer
     to Purchase, the Company shall purchase Securities having an aggregate
     principal amount equal to the Purchase Amount on a pro rata basis (with
     such adjustments as may be deemed appropriate

                                      -14-
<PAGE>

     so that only Securities in denominations of $1,000 or integral multiples
     thereof shall be purchased); and

          (11)   that in case of any Holder whose Security is purchased only in
     part, the Company shall execute, and the Trustee shall authenticate and
     deliver to the Holder of such Security without service charge, a new
     Security or Securities, of any authorized denomination as requested by such
     Holder, in an aggregate principal amount equal to and in exchange for the
     unpurchased portion of the Security so tendered.

Any Offer to Purchase shall be governed by and effected in accordance with the
Offer for such Offer to Purchase.

          "Officers' Certificate" means a certificate signed by two officers at
least one of whom shall be the principal executive officer, principal accounting
officer or principal financial officer of the Company and delivered to the
Trustee.

          "Operating Cash Flow" for any Person for any period means (a) the
Consolidated Net Income of such Person for such period, plus (b) the sum,
without duplication (and only to the extent such amounts are deducted from net
revenues in determining such Consolidated Net Income), of (i) the provisions for
income taxes for such period for such Person and its Subsidiaries, (ii)
depreciation, amortization and other non-cash charges of such Person and its
Subsidiaries and (iii) Consolidated Interest Expense of such Person for such
period, determined, in each case, on a consolidated basis for such Person and
its Subsidiaries in accordance with generally accepted accounting principles,
less (c) the sum, without duplication (and only to the extent such amounts are
included in such Consolidated Net Income) of (i) all extraordinary gains of such
Person and its Subsidiaries during such period and (ii) the amount of all cash
payments made during such period by such Person and its Subsidiaries to the
extent such payments relate to non-cash charges that were added back in
determining Operating Cash Flow for such period or for any prior period; and in
the case of a Restricted Subsidiary that is not a Wholly Owned Restricted
Subsidiary, the determination of the percentage of the Operating Cash Flow of
such Restricted Subsidiary that is to be included in the calculation of the
Company's Annualized Operating Cash Flow Ratio shall be made on a pro forma
basis on the assumption that the percentage of the Company's common equity
interest in such Restricted Subsidiary throughout the applicable Reference
Period was equivalent to its common equity interest on the date of the
determination.  When the foregoing definition is used in connection with the
Company, references to a Person and its Subsidiaries in the foregoing definition
shall be deemed to refer to the Company and its Restricted Subsidiaries.

                                   -15-
<PAGE>

          "Opinion of Counsel" means a written opinion of counsel, who may be
counsel for the Company, and who shall be reasonably acceptable to the Trustee,
delivered to the Trustee.

          "Outstanding," when used with respect to Securities, means, as of the
date of determination, all Securities theretofore authenticated and delivered
under this Indenture, EXCEPT:

          (i)    Securities theretofore cancelled by the Trustee or delivered to
     the Trustee for cancellation;

          (ii)   Securities for whose payment or redemption money in the
     necessary amount has been theretofore deposited with the Trustee or any
     Paying Agent (other than the Company) in trust or set aside and segregated
     in trust by the Company (if the Company shall act as its own Paying Agent)
     for the Holders of such Securities; PROVIDED that, if such Securities are
     to be redeemed, notice of such redemption has been duly given pursuant to
     this Indenture or provision therefor satisfactory to the Trustee has been
     made; and

          (iii)  Securities which have been paid pursuant to Section 307 or in
     exchange for or in lieu of which other Securities have been authenticated
     and delivered pursuant to this Indenture, other than any such Securities in
     respect of which there shall have been presented to the Trustee proof
     satisfactory to it that such Securities are held by a bona fide purchaser
     in whose hands such Securities are valid obligations of the Company;

PROVIDED, HOWEVER, that in determining whether the Holders of the requisite
principal amount of the Outstanding Securities have given any request, demand,
authorization, direction, notice, consent or waiver hereunder, Securities owned
by the Company or any other obligor upon the Securities or any Affiliate of the
Company or of such other obligor shall be disregarded and deemed not to be
Outstanding, except that, in determining whether the Trustee shall be protected
in relying upon any such request, demand, authorization, direction, notice,
consent or waiver, only Securities which the Trustee knows to be so owned shall
be so disregarded.  Securities so owned which have been pledged in good faith
may be regarded as Outstanding if the pledgee establishes to the satisfaction of
the Trustee the pledgee's right so to act with respect to such Securities and
that the pledgee is not the Company or any other obligor upon the Securities or
any Affiliate of the Company or of such other obligor.

          "PARI PASSU," when used with respect to the ranking of any
Indebtedness of any Person in relation to other Indebtedness of such Person,
means that each such Indebtedness (a) either (i) is not subordinated in right of
payment to any other Indebtedness of such Person or (ii) is subordinate in right
of payment to the same

                                   -16-
<PAGE>

Indebtedness of such Person as is the other and is so subordinate to the same
extent and (b) is not subordinate in right of payment to the other or to any
Indebtedness of such Person as to which the other is not so subordinate.

          "Paying Agent" means any Person authorized by the Company to pay the
principal of (and premium, if any) or interest on any Securities on behalf of
the Company.

          "Payment Blockage Period" has the meaning specified in Section 1203.

          "Permitted Investments" means  (i) Investments in Cash Equivalents;
(ii) Investments in the Company or a Restricted Subsidiary (other than payments
described in clause (iii) of the second paragraph of Section 1011 and
Investments in the Company by its Restricted Subsidiary pursuant to clause (ii)
of the definition of "Restricted Payments"); (iii) Investments in a Person
substantially all of whose assets are of a type generally used in a Wireless
Communications Business (an "Acquired Person") if, as a result of such
Investments, (A) the Acquired Person immediately thereupon becomes a Restricted
Subsidiary or (B) the Acquired Person immediately thereupon either (1) is merged
or consolidated with or into the Company or any Restricted Subsidiary or (2)
transfers or conveys all or substantially all of its assets to, or is liquidated
into, the Company or any of its Restricted Subsidiaries; (iv) Investments in
accounts and notes receivable acquired in the ordinary course of business; (v)
any securities received in connection with an Asset Sale that complies with the
covenants in Section 1015; (vi) advances and prepayments for asset purchases in
the ordinary course of business in a Wireless Communications Business of the
Company or a Restricted Subsidiary; (vii) customary loans or advances made in
the ordinary course of business to officers, directors or employees of the
Company or any of its Restricted Subsidiaries for travel, entertainment, and
moving and other relocation expenses; (viii) the purchase of Cooperative Bank
Equity in Cooperative Banks to the extent required by the charter documents of
such Cooperative Banks in connection with the Incurrence of any Indebtedness
which is provided by such Cooperative Banks under the Credit Facility, PROVIDED
that such Incurrence is permitted under the terms of this Indenture; (ix) any
Investment by the Company of Qualified Capital Stock Proceeds received after
July 1,  1998, in any Unrestricted Subsidiary which conducts or will conduct a
Telecommunications Business (PROVIDED that any such Qualified Capital Stock
Proceeds used to consummate the Triton Acquisition shall be deemed not to have
been used and shall remain available for such an Investment); and (x)
Investments in Wireless Alliance during the period it is an Unrestricted
Subsidiary not exceeding $25.0 million in the aggregate made after July 1, 1998;
PROVIDED that (a) the matters referenced in clauses (iii) and (x) above shall
not be Permitted Investments if made at any time that an Event of Default or
event which with notice or lapse of time or both would become an Event of
Default has occurred and is continuing, (b) that the matters referenced in
clause (ix) shall not be Permitted Investments if at any time (1) an Event of
Default or event which with

                                   -17-
<PAGE>

notice or lapse of time or both would become an Event of Default has occurred
and is continuing and (2) the Company would not be permitted to Incur an
additional $1.00 of Indebtedness pursuant to the provision of the Exchange
Indenture described in the first paragraph of Section 1008 and (3) that and
following any Permitted Investment pursuant to clause (x), the Unrestricted
Subsidiary in which such Investment is made shall be prohibited from using
the proceeds of such Investment (directly or indirectly) to make any
Restricted Payment with respect to the Company's Junior Stock or options,
warrants or rights to acquire the Company's Junior Stock of the type
described in clause (ii) of the definition of Restricted Payment.

          "Person" means any individual, corporation, partnership, joint
venture, trust, unincorporated organization or government or any agency or
political subdivision thereof.

          "Predecessor Security" of any particular Security means every previous
Security evidencing all or a portion of the same debt as that evidenced by such
particular Security; and, for the purposes of this definition, any Security
authenticated and delivered under Section 307 in exchange for or in lieu of a
mutilated, destroyed, lost or stolen Security shall be deemed to evidence the
same debt as the mutilated, destroyed, lost or stolen Security.

          "Preferred Stock" means, with respect to any Person, any and all
shares of Capital Stock of such Person that have preferential rights to any
other Capital Stock of such Person with respect to dividends or redemptions or
upon liquidation.
`
          "Proceeding" has the meaning specified in Section 1202.

          "Prospectus" means the Prospectus dated February ___, 2000 with
respect to the offering of, INTER ALIA, the Exchangeable Preferred Stock.

          "Public Equity Offering" means an underwritten public offering of
common stock of the Company pursuant to an effective registration statement
filed with the Commission in accordance with the Securities Act.

          "Purchase Amount" has the meaning specified in the definition of Offer
to Purchase.

          "Purchase Date" has the meaning specified in the definition of Offer
to Purchase.

          "Purchase Price" has the meaning specified in the definition of Offer
to Purchase.

                                   -18-
<PAGE>

          "Qualified Capital Stock" means, with respect to any Person, any and
all shares of Capital Stock other than Redeemable Stock issued by such Person,
and the options, warrants or other rights to purchase such Capital Stock.

          "Qualified Capital Stock Proceeds" means, with respect to any Person,
(a) in the case of any sale of Qualified Capital Stock (other than to any
Subsidiary), the aggregate net cash proceeds received by such Person, after
payment of expenses, commissions and the like Incurred by such Person in
connection therewith, and net of Indebtedness that such Person Incurred,
guaranteed or otherwise became liable for in connection with the issuance or
acquisition of such Capital Stock; and (b) in the case of any exchange,
exercise, conversion or surrender of any Redeemable Stock or Indebtedness of
such Person issued (other than to any Subsidiary) for cash after the date of
this Indenture for or into shares of Qualified Capital Stock of such Person, the
liquidation value of the Redeemable Stock or the net book value of such
Indebtedness as adjusted on the books of such Person to the date of such
exchange, exercise, conversion or surrender, plus any additional amount paid by
the securityholders to such Person upon such exchange, exercise, conversion or
surrender and less any and all payments made to the securityholders, and all
other expenses, commissions and the like Incurred by such Person or any
Subsidiary in connection therewith.

          "Qualifying Event" means a Public Equity Offering or one or more
Strategic Equity Investments which in either case results in aggregate net
proceeds of not less than $50 million; PROVIDED that any Public Equity Offering
or Strategic Equity Investment, the net proceeds from which are intended to be
used to consummate the Triton Acquisition, shall not be a Qualifying Event.

          "Redeemable Stock" of any Person means any equity security of such
Person that by its terms or otherwise is required to be redeemed prior to the
final Stated Maturity of the Securities or is redeemable at the option of the
holder thereof (other than an equity security that is redeemable at the option
of the holder and the applicable redemption price is payable only in shares of
Qualified Capital Stock) at any time prior to the final Stated Maturity of the
Securities; PROVIDED that any Capital Stock that would not constitute Redeemable
Stock but for provisions thereof giving holders thereof the right to require
such Person to repurchase or redeem such Capital Stock upon the occurrence of a
"change of control" occurring prior to the final Stated Maturity of the
Securities shall not constitute Redeemable Stock if the "change of control"
provisions applicable to such Capital Stock are no more favorable to the holders
of such Capital Stock than the provisions contained in Section 1017 of this
Indenture and such Capital Stock specifically provides that such Person will not
repurchase or redeem any such stock pursuant to such provision prior to the
Company's repurchase of the Securities as required to be repurchased pursuant to
Section 1017.

                                   -19-

<PAGE>

          "Redemption Date," when used with respect to any Security to be
redeemed, means the date fixed for such redemption by or pursuant to this
Indenture.

          "Redemption Price," when used with respect to any Security to be
redeemed, means the price at which it is to be redeemed pursuant to this
Indenture.

          "Reference Period" with regard to any Person means the last two full
fiscal quarters of such Person immediately preceding any date upon which any
determination is to be made pursuant to the terms of the Securities or this
Indenture.

          "Registration Statement" means the Registration Statement on Form S-3
dated February __, 2000 with respect to the offering of, INTER ALIA, the
Exchangeable Preferred Stock.

          "Regular Record Date" for the interest payable on any Interest Payment
Date means the [             ] or [             ] (whether or not a Business
Day), as the case may be, next preceding such Interest Payment Date.

          "Related Person" of any Person means any other Person owning (a) 5% or
more of the outstanding Common Stock of such Person or (b) 5% or more of the
Voting Power of such Person.

          "Restricted Payments" means, with respect to any Person, (i) any
declaration or payment of a dividend or other distribution on any shares of
Capital Stock of such Person or any Subsidiary of such Person (other than a
dividend payable solely in shares of its Capital Stock or options, warrants or
other rights to acquire its Capital Stock and other than any declaration or
payment of a dividend or other distribution by a Restricted Subsidiary to the
Company or another Restricted Subsidiary),  (ii) any payment on the account of
the purchase, redemption, retirement or acquisition (including by way of issuing
any Indebtedness or Redeemable Stock in exchange for Qualified Capital Stock) of
(A) any shares of Capital Stock of such Person or any Subsidiary of such Person
held by other than such Person or any of its Restricted Subsidiaries or (B) any
option, warrant or other right to acquire shares of Capital Stock of such Person
or any  Subsidiary of such Person held by other than such person or any of its
Restricted Subsidiaries, in each case other than pursuant to the cashless
exercise of options,  (iii) any Investment (other than a Permitted Investment)
made by such Person and (iv) any  redemption, defeasance, repurchase or other
acquisition or retirement for value prior to any scheduled maturity, repayment
or sinking fund payment, any Subordinated Indebtedness of such Person; PROVIDED,
that the term "Restricted Payment" does not include the payment of a dividend or
other distribution by any Restricted Subsidiary on shares of its Capital Stock
that is paid pro rata to all holders of such Capital Stock.

          "Restricted Subsidiary" of any Person means any Subsidiary of such
Person other than an Unrestricted Subsidiary.

                                      -20-

<PAGE>

          "Sale and Leaseback Transaction" of any Person means an arrangement
with any lender or investor or to which such lender or investor is a party
providing for the leasing by such Person of any property or asset of such Person
which has been or is being sold or transferred by such Person more than 270 days
after the acquisition thereof or the completion of construction or commencement
of operation thereof to such lender or investor or to any person to whom funds
have been or are to be advanced by such lender or investor on the security of
such property or asset.  The stated maturity of such arrangement shall be the
date of the last payment of rent or any other amount due under such arrangement
prior to the first date on which such arrangement may be terminated by the
lessee without payment of a penalty.

          "Securities" means securities designated in the first paragraph of the
recitals of the Company.

          "Securities Act" means the Securities Act of 1933, as amended.

          "Securities Payment" has the meaning set forth in Section 1202.

          "Security Registrar" and "Security Register" have the respective
meanings specified in Section 306.

          "Senior Exchange Debentures" means the Company's 11-3/8% Senior
Subordinated Debentures issuable in exchange for shares of the Company's 11-3/8%
Senior Exchangeable Preferred Stock.

          "Senior Exchange Indenture" means the indenture governing the
Company's 11-3/8% Senior Subordinated Debentures.

          "Senior Indebtedness" means the principal of (and premium, if any) and
interest (including interest accruing on or after the filing of any petition in
bankruptcy or for reorganization relating to the Company, whether or not a claim
for post-petition interest is allowed in such proceeding) on (i) Indebtedness of
the Company created pursuant to the Credit Facility and all other obligations
thereunder or under the notes, security documents, pledge agreements, Interest
Hedge Agreements or other agreements or instruments executed in connection
therewith, (ii) Indebtedness of the Company created pursuant to any vendor
financing Incurred for the acquisition, construction or improvement by the
Company or any Restricted Subsidiary of assets in the Wireless Communications
Business, (iii) all other Indebtedness of the Company referred to in the
definition of Indebtedness other than clauses (iv)and (vi) thereof (and clause
(ix) thereof to the extent applicable to Indebtedness Incurred under clauses
(iv) and (vi) thereof), whether Incurred on or prior to the date of this
Indenture and the Senior Subordinated Notes, and (iv) amendments, renewals,
extensions, modifications, refinancings and refundings of any such Indebtedness;
PROVIDED, HOWEVER, that the following shall not

                                      -21-

<PAGE>

constitute Senior Indebtedness: (A) any Indebtedness owed to a Person when
such Person is a Restricted Subsidiary of the Company, (B) any Indebtedness
which by the terms of the instrument creating or evidencing the same is not
superior in right of payment to the Securities, (C) any Indebtedness Incurred
in violation of this Indenture (but, as to any such Indebtedness, no such
violation shall be deemed to exist for purposes of this clause (C) if the
holder(s) of such Indebtedness or their representative and the Trustee shall
have received an Officers' Certificate to the effect that the Incurrence of
such Indebtedness does not (or, in the case of revolving credit Indebtedness,
that the Incurrence of the entire committed amount thereof at the date on
which the initial borrowing thereunder is made would not) violate this
Indenture), (D) any Indebtedness which is subordinated in right of payment to
any other Indebtedness of the Company, (E) Indebtedness or other obligations
of or amounts owed by the Company or its Restricted Subsidiaries for
compensation to the Company or their employees, as applicable, or for
services rendered by such employees to the Company or its Restricted
Subsidiaries or (F) any liability for federal, state, local or other taxes
owed or owing by us.

          "Senior Nonmonetary Default" has the meaning specified in Section
1203.

          "Senior Payment Default" has the meaning specified in Section 1203.

          "Senior Preferred Stock" means the Company's 11 3/8% Senior
Exchangeable Preferred Stock.

          "Senior Subordinated Notes" mean the Company's 9 5/8% Senior
Subordinated Notes due 2008 and 9 5/8% Series B Senior Subordinated Notes issued
under the Notes Indenture.

          "Significant Subsidiary" shall have the meaning set forth in Rule 1-02
of Regulation S-X under the Securities Act; PROVIDED that all references to "10
percent" under such definition shall be deemed to be references to "5 percent."

          "Stated Maturity," when used with respect to any Security or any
installment of interest thereon, means the date specified in such Security as
the date on which the principal of such Security or such installment of interest
is due and payable.

          "Strategic Equity Investment" means an investment in Qualified Stock
made by a Strategic Investor in an aggregate amount of not less than $50
million.

          "Strategic Investor" means a Person (other than an Affiliate of the
Company or a Person who by virtue of such Investment becomes such an Affiliate)
engaged in one or more Telecommunications Businesses with an equity market
capitalization at the time such Person makes a Strategic Equity Investment in
the Company in excess of $1 billion.

                                      -22-

<PAGE>

          "Subordinated Indebtedness" means Indebtedness of the Company that is
subordinated in right of payment to the Securities.

          "Subsidiary" of any Person means (i) any corporation of which more
than fifty percent (50%) of the outstanding Capital Stock (other than directors'
qualifying shares) having ordinary Voting Power to elect its board of directors,
regardless of the existence at the time of a right of the holders of any class
or classes of securities of such corporation to exercise such Voting Power by
reason of the happening of any contingency, or any entity other than a
corporation of which more than fifty percent (50%) of the outstanding ownership
interests, is at the time owned directly or indirectly by such Person, or by one
or more Subsidiaries of such Person, or by such Person and one or more
Subsidiaries of such Person, or (ii) any other entity which is directly or
indirectly controlled or capable of being controlled by such Person, or by one
or more Subsidiaries of such Person, or by such Person and one or more
Subsidiaries of such Person.

          "Successor Company" has the meaning specified in Section 801.

          "Telecommunications Business" means the business of (i) transmitting,
or providing services relating to the transmission of, voice, video or data
through owned or leased wireline or wireless transmission facilities, (ii)
creating, developing, constructing, installing, repairing, maintaining or
marketing communications-related systems, network equipment and facilities,
software and other products, or (iii) evaluating, owning, operating,
participating in or pursuing any other business that is primarily related to
those identified in Clause (i) or (ii) above (in the case of this Clause (iii),
however, in a manner consistent with the Company's manner of business on the
date of this Indenture), and shall, in any event, include all businesses in
which the Company or any of its Subsidiaries is engaged on the date of this
Indenture or has entered into agreements to engage in or to acquire a company to
engage in or contemplate engaging in, as expressly set forth in the Prospectus;
PROVIDED that the determination of what constitutes a Telecommunications
Business shall be made in good faith by the Company's Board of Directors.

          "Treasury Rate" means, as of any redemption date, the yield to
maturity as of such redemption date of United States Treasury securities with a
constant maturity (as compiled and published in the most recent Federal Reserve
Statistical Release H.15 (519) that has become publicly available at least two
Business Days prior to the redemption date (or, if such Statistical Release is
no longer published, any publicly available source of similar market data), most
nearly equal to the period from the redemption date to     , 2005, PROVIDED,
HOWEVER, that if the period from the redemption date to      , 2005 is less than
one year, the weekly average yield on actually traded United States Treasury
securities adjusted to a constant maturity of one year shall be used.

                                      -23-

<PAGE>

          "Triton Acquisition" means the acquisition of substantially all the
assets of Triton Cellular Partners, L.P. and its affiliates and the acquisition
of one of its subsidiaries by the Company.

          "Trust Indenture Act" means the Trust Indenture Act of 1939 as in
force at the date as of which this instrument was executed, except as provided
in Section 905; PROVIDED, HOWEVER, that in the event the Trust Indenture Act of
1939 is amended after such date, "Trust Indenture Act" means, to the extent
required by any such amendment, the Trust Indenture Act of 1939 as so amended.

          "Trustee" means the Person named as the "Trustee" in the first
paragraph of this instrument until a successor Trustee shall have become such
pursuant to the applicable provisions of this Indenture, and thereafter
"Trustee" shall mean such successor Trustee.

          "Unrestricted Subsidiary" of any Person means (i) any Subsidiary of
such Person that at the time of determination shall be designated an
Unrestricted Subsidiary by the Board of Directors of such Person in the manner
provided below and (ii) any Subsidiary of an Unrestricted Subsidiary.  The Board
of Directors of any Person may designate any Restricted Subsidiary to be an
Unrestricted Subsidiary unless such Subsidiary owns any Capital Stock of, or
owns or holds any Lien on any property of, such Person or any Restricted
Subsidiary; PROVIDED that either (A) the Subsidiary to be so designated has
total assets of $1,000 or less or (B) if such Subsidiary has assets greater than
$1,000, such Person's PRO RATA interest in the Fair Market Value of the net
assets of such Subsidiary at the time of such designation would be permitted as
an investment under Section 1011.  The Board of Directors of any Person may
designate any Unrestricted Subsidiary to be a Restricted Subsidiary of such
Person, PROVIDED that immediately after giving effect to such designation (x)
such Person would be permitted to Incur $1.00 of additional Indebtedness
pursuant to the first paragraph of Section 1008 and (y) no Event of Default or
event which with notice or lapse of time or both would become an Event of
Default has occurred and is continuing. Any such designation by the Board of
Directors shall be evidenced by a Board Resolution submitted to the Trustee.
Wireless Alliance shall be deemed an Unrestricted Subsidiary as of the date of
this Indenture and shall thereafter remain an Unrestricted Subsidiary unless and
until designated by the Board of Directors of the Company as a Restricted
Subsidiary in accordance with the terms of this Indenture.

          "U.S. Government Obligations" has the meaning specified in
Section 1304.

          "Voting Power" of any Person means the aggregate number of votes of
all classes of Capital Stock of such Person which ordinarily have voting power
for the election of directors of such Person.

                                      -24-

<PAGE>

          "Wholly Owned Restricted Subsidiary" of any Person means a Restricted
Subsidiary of such Person all of the outstanding Capital Stock or other
ownership interests of which (other than directors' qualifying shares) shall at
the time be owned by such Person or by one or more Wholly Owned Restricted
Subsidiaries of such Person or by such Person and one or more Wholly Owned
Restricted Subsidiaries of such Person.

          "Wireless Communications Business" means any business substantially
related to the ownership, development, operation or acquisition of fixed and
mobile wireless communications services permitted under the Federal
Communications Commission's ("FCC") Commercial Mobile Radio Services rules (and
the related provisions of the FCC's Public Mobile Services and Personal
Communications Services rules), and other related telecommunications business
services.

SECTION 102.     COMPLIANCE CERTIFICATES AND OPINIONS.

          Upon any application or request by the Company to the Trustee to take
any action under any provision of this Indenture, the Company shall furnish to
the Trustee such certificates and opinions as may be required under the Trust
Indenture Act.  Each such certificate or opinion shall be given in the form of
an Officers' Certificate, if to be given by an officer of the Company, or an
Opinion of Counsel, if to be given by counsel, and shall comply with the
requirements of the Trust Indenture Act and any other requirement set forth in
this Indenture.

          Every certificate or opinion with respect to compliance with a
condition or covenant provided for in this Indenture shall include

          (1)    a statement that each individual signing such certificate or
     opinion has read such covenant or condition and the definitions herein
     relating thereto;

          (2)    a brief statement as to the nature and scope of the examination
     or investigation upon which the statements or opinions contained in such
     certificate or opinion are based;

          (3)    a statement that, in the opinion of each such individual, he
     has made such examination or investigation as in its reasonable judgment is
     necessary to enable him to express an informed opinion as to whether or not
     such covenant or condition has been complied with; and

          (4)    a statement as to whether or not, in the opinion of each such
     individual, such condition or covenant has been complied with.

                                    -25-

<PAGE>

SECTION 103.     FORM OF DOCUMENTS DELIVERED TO TRUSTEE.

          In any case where several matters are required to be certified by, or
covered by an opinion of, any specified Person, it is not necessary that all
such matters be certified by, or covered by the opinion of, only one such
Person, or that they be so certified or covered by only one document, but one
such Person may certify or give an opinion with respect to some matters and one
or more other such Persons as to other matters, and any such Person may certify
or give an opinion as to such matters in one or several documents.

          Any certificate or opinion of an officer of the Company may be based,
insofar as it relates to legal matters, upon a certificate or opinion of, or
representations by, counsel, unless such officer knows that the certificate or
opinion or representations with respect to the matters upon which his
certificate or opinion is based are erroneous.  Any certificate or opinion of
counsel may be based, insofar as it relates to factual matters, upon a
certificate or opinion of, or representations by, an officer or officers of the
Company stating that the information with respect to such factual matters is in
the possession of the Company, unless such counsel knows that the certificate or
opinion or representations with respect to such matters are erroneous.

          Where any Person is required to make, give or execute two or more
applications, requests, consents, certificates, statements, opinions or other
instruments under this Indenture, they may, but need not, be consolidated and
form one instrument.

SECTION 104.     ACTS OF HOLDERS; RECORD DATE.

          (a)    Any request, demand, authorization, direction, notice, consent,
waiver or other action provided by this Indenture to be given or taken by
Holders may be embodied in and evidenced by one or more instruments of
substantially similar tenor signed by such Holders in person or by agent duly
appointed in writing; and, except as herein otherwise expressly provided, such
action shall become effective when such instrument or instruments are received
by the Trustee and, where it is hereby expressly required, to the Company.  Such
instrument or instruments (and the action embodied therein and evidenced
thereby) are herein sometimes referred to as the "Act" of the Holders signing
such instrument or instruments.  Proof of execution of any such instrument or of
a writing appointing any such agent shall be sufficient for any purpose of this
Indenture and (subject to Section 601) conclusive in favor of the Trustee and
the Company, if made in the manner provided in this Section 104.

          (b)    The fact and date of the execution by any Person of any such
instrument or writing may be proved by the affidavit of a witness of such
execution or by a certificate of a notary public or other officer authorized by
law to take

                                    -26-

<PAGE>

acknowledgments of deeds, certifying that the individual signing such
instrument or writing acknowledged to him the execution thereof.  Where such
execution is by a signer acting in a capacity other than his individual
capacity, such certificate or affidavit shall also constitute sufficient
proof of his authority.  The fact and date of the execution of any such
instrument or writing, or the authority of the Person executing the same, may
also be proved in any other manner which the Trustee reasonably deems
sufficient.

          (c)    The Company may, in the circumstances permitted by the Trust
Indenture Act, fix any day as the record date for the purpose of determining the
Holders entitled to give or take any request, demand, authorization, direction,
notice, consent, waiver or other action, or to vote on any action, authorized or
permitted to be given or taken by Holders.  If not set by the Company prior to
the first solicitation of a Holder made by any Person in respect of any such
action, or, in the case of any such vote, prior to such vote, the record date
for any such action or vote shall be the 30th day (or, if later, the date of the
most recent list of Holders required to be provided pursuant to Section 701)
prior to such first solicitation or vote, as the case may be.  With regard to
any record date, only the Holders on such date (or their duly designated
proxies) shall be entitled to give or take, or vote on, the relevant action.

          (d)    The ownership of Securities shall be proved by the Security
Register.

          (e)    Any request, demand, authorization, direction, notice, consent,
waiver or other Act of the Holder of any Security shall bind every future Holder
of the same Security and the Holder of every Security issued upon the
registration of transfer thereof or in exchange therefor or in lieu thereof in
respect of anything done, omitted or suffered to be done by the Trustee or the
Company in reliance thereon, whether or not notation of such action is made upon
such Security.

SECTION 105.     NOTICES, ETC., TO TRUSTEE AND COMPANY.

          Any request, demand, authorization, direction, notice, consent, waiver
or Act of Holders or other document provided or permitted by this Indenture to
be made upon, given or furnished to, or filed with,

          (1)    the Trustee by any Holder or by the Company shall be sufficient
     for every purpose hereunder if made, given, furnished or filed in writing
     to or with the Trustee at its Corporate Trust Office, Attention: Trust
     Officer, or

          (2)    the Company by the Trustee or by any Holder shall be sufficient
     for every purpose hereunder (unless otherwise herein expressly provided) if
     in writing and mailed, first-class postage prepaid, to the Company,
     Attention: Chief

                                    -27-

<PAGE>

     Executive Officer, addressed to it at the address of its principal
     office specified in the first paragraph of this instrument or at any
     other address previously furnished in writing to the Trustee by the
     Company.

SECTION 106.     NOTICE TO HOLDERS; WAIVER.

          Where this Indenture provides for communication with or notice to
Holders, such notice shall be sufficiently given (unless otherwise herein
expressly provided) if in writing and mailed, first-class postage prepaid, to
each Holder, at his address as it appears in the Security Register, not later
than the latest date (if any), and not earlier than the earliest date (if any),
prescribed for the giving of such notice.  In any case where notice to Holders
is given by mail, neither the failure to mail such notice, nor any defect in any
notice so mailed, to any particular Holder shall affect the sufficiency of such
notice with respect to other Holders.  Where this Indenture provides for notice
in any manner, such notice may be waived in writing by the Person entitled to
receive such notice, either before or after the event, and such waiver shall be
the equivalent of such notice.  Waivers of notice by Holders shall be filed with
the Trustee, but such filing shall not be a condition precedent to the validity
of any action taken in reliance upon such waiver.

          In case by reason of the suspension of regular mail service or by
reason of any other cause it shall be impracticable to give such notice by mail,
then such notification as shall be made with the approval of the Trustee shall
constitute a sufficient notification for every purpose hereunder.

SECTION 107.     CONFLICT WITH TRUST INDENTURE ACT.

          If any provision hereof limits, qualifies or conflicts with a
provision of the Trust Indenture Act that is required under such Act to be part
of and govern this Indenture, the latter provision shall control.  If any
provision of this Indenture modifies or excludes any provision of the Trust
Indenture Act that may be so modified or excluded, the provision of this
Indenture shall be deemed to apply.

SECTION 108.     EFFECT OF HEADINGS AND TABLE OF CONTENTS.

          The Article and Section headings herein and the Table of Contents are
for convenience only and shall not affect the construction hereof.

                                    -28-

<PAGE>

SECTION 109.     SUCCESSORS AND ASSIGNS.

          All covenants and agreements in this Indenture by the Company shall
bind its successors and assigns, whether so expressed or not.

SECTION 110.     SEPARABILITY CLAUSE.

          In case any provision in this Indenture or in the Securities shall be
invalid, illegal or unenforceable, the validity, legality and enforceability of
the remaining provisions shall not in any way be affected or impaired thereby.

SECTION 111.     BENEFITS OF INDENTURE.

          Nothing in this Indenture or in the Securities, express or implied,
shall give to any Person, other than the parties hereto and their successors
hereunder, the holders of Senior Indebtedness (subject to Article Thirteen
hereof) and the Holders of Securities, any benefit or any legal or equitable
right, remedy or claim under this Indenture.

SECTION 112.     GOVERNING LAW.

          THIS INDENTURE AND THE SECURITIES SHALL BE GOVERNED BY AND CONSTRUED
IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO
PRINCIPLES OF CONFLICT OF LAWS.

SECTION 113.     LEGAL HOLIDAYS.

          In any case where any Interest Payment Date, Redemption Date, Purchase
Date or Stated Maturity of any Security shall not be a Business Day, then
(notwithstanding any other provision of this Indenture or of the Securities)
payment of interest or principal (and premium, if any) need not be made on such
date, but may be made on the next succeeding Business Day with the same force
and effect as if made on the Interest Payment Date, Redemption Date or Purchase
Date, or at the Stated Maturity, PROVIDED that no interest shall accrue for the
period from and after such Interest Payment Date, Redemption Date, Purchase Date
or Stated Maturity, as the case may be if such payment is made on such next
succeeding Business Day.

                                    -29-

<PAGE>

SECTION 114.     COUNTERPARTS.

          This instrument may be executed in any number of counterparts, each of
which so executed shall be deemed to be an original, and all of which
counterparts shall together constitute but one and the same instrument.

SECTION 115.     OTHER AGREEMENTS.

          It is the intent of the Company, the Trustee and the Holders that this
Indenture shall stand on its own and shall not be read as one agreement with, or
be deemed to relate to, any other agreement entered into by the Company, on the
one hand, and the Trustee or any Holder, on the other hand, for purposes of
determining the intended meaning of any provision in this Indenture or any such
other agreement.  In furtherance of the foregoing, it is understood and agreed
by the Company, the Trustee and the Holders that the inclusion of provisions in
this Indenture not included in any such other agreement (or the exclusion of
provisions in this Indenture included in any such other agreement), including
the Senior Exchange Indenture, shall not affect the interpretation of the
provisions of this Indenture and such other agreements.

                                    -30-
<PAGE>

                                     ARTICLE TWO

                                    SECURITY FORMS

SECTION 201.     FORMS GENERALLY.

          The Securities and the Trustee's certificates of authentication shall
be in substantially the forms set forth in this Article Two, with such
appropriate insertions, omissions, substitutions and other variations as are
required or permitted by this Indenture, and may have such letters, numbers or
other marks of identification and such legends or endorsements placed thereon as
may be required to comply with the rules of any securities exchange or as may,
consistently herewith, be determined by the officers executing such Securities,
as evidenced by their execution of the Securities.

          The definitive Securities shall be printed, lithographed or engraved
or produced by any combination of these methods on steel engraved borders or may
be produced in any other manner permitted by the rules of any securities
exchange on which the Securities may be listed, all as determined by the
officers executing such Securities, as evidenced by their execution of such
Securities.

          The Securities may also be represented by one or more Securities in
registered, global form without coupons (collectively, the "Global Securities").
The Global Securities shall be deposited upon issuance with the Trustee as
custodian for DTC and registered in the name of DTC or its nominee, in each case
for credit to an account of a direct or indirect participant in DTC as described
below.

SECTION 202.     FORM OF FACE OF SECURITY.

[IF THE SECURITY IS A GLOBAL SECURITY, THEN INSERT -- THIS SECURITY IS A GLOBAL
SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS
REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF.  THIS SECURITY MAY
NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER
OF THIS SECURITY IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY
PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED
CIRCUMSTANCES DESCRIBED IN THE INDENTURE.]

          [IF THE SECURITY IS A GLOBAL SECURITY AND THE DEPOSITORY TRUST COMPANY
IS TO BE THE DEPOSITARY THEREFOR, THEN INSERT -- UNLESS THIS CERTIFICATE IS
PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW
YORK CORPORATION ("DTC"), TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF
TRANSFER,

                                    -31-

<PAGE>

EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF
CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER
ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER,
PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.]

                   [     ]% SENIOR SUBORDINATED DEBENTURES DUE 2011

No. ________                                                        $________

CUSIP Number __________

          Rural Cellular Corporation, a corporation duly organized and existing
under the laws of Minnesota (herein called the "Company," which term includes
any successor Person under the Indenture hereinafter referred to), for value
received, hereby promises to pay to _______________, or registered assigns, the
principal sum of ___________ Dollars, or such other principal amount (which,
when taken together with the principal amounts of all other Outstanding
Securities, shall not exceed $__________ in the aggregate at any time) as may be
set forth in the records of the Trustee hereinafter referred to in accordance
with the Indenture, on ___________, 2011, and to pay interest in cash thereon
from the date of issuance hereof (or, on or prior to ____________, 2005, in
Additional Securities having an aggregate principal amount equal to the amount
of such interest, at the option of the Company) or from the most recent Interest
Payment Date to which interest has been paid or duly provided for, semi-annually
on _________ and __________ in each year, commencing on the first such date
following the date hereof, at the rate of [     ]% per annum, until the
principal hereof is paid or made available for payment, and (to the extent that
the payment of such interest shall be legally enforceable) at the rate of
[ ]% per annum on any overdue principal and premium, if any, and on any overdue
installment of interest until paid.  The interest so payable, and punctually
paid or duly provided for, on any Interest Payment Date will, as provided in
such Indenture, be paid to the Person in whose name this Security (or one or
more Predecessor Securities) is registered at the close of business on the
Regular Record Date for such interest, which shall be ___________ or
____________ (whether or not a Business Day), as the case may be, next preceding
such Interest Payment Date.  Any such interest not so punctually paid or duly
provided for will forthwith cease to be payable to the Holder on such Regular
Record Date and may either be paid to the Person in whose name this Security (or
one or more Predecessor Securities) is registered at the close of business on a
Special Record Date for the payment of such Defaulted Interest to be fixed by
the Trustee, notice of which shall be given to Holders of Securities not less
than 10 days prior to such Special Record Date, or be paid at any time in any
other lawful

                                    -32-

<PAGE>

manner not inconsistent with the requirements of any securities exchange on
which the Securities may be listed, and upon such notice as may be required
by such exchange, all as more fully provided in the Indenture.

          Payment of the principal of (and premium, if any) and interest on this
Security will be made at the Corporate Trust Office or at the office or agency
of the Company maintained for that purpose in the Borough of Manhattan, New York
City, in such coin or currency of the United States of America as at the time of
payment is legal tender for payment of public and private debts; PROVIDED,
HOWEVER, that at the option of the Company payment of interest may be made by
check mailed to the address of the Person entitled thereto as such address shall
appear in the Security Register.

          Reference is hereby made to the further provisions of this Security
set forth on the reverse hereof, which further provisions shall for all purposes
have the same effect as if set forth at this place.

          Unless the certificate of authentication hereon has been executed by
the Trustee referred to on the reverse hereof by manual signature, this Security
shall not be entitled to any benefit under the Indenture or be valid or
obligatory for any purpose.

          IN WITNESS WHEREOF, the Company has caused this instrument to be duly
executed under its corporate seal.

Dated:

                               RURAL CELLULAR CORPORATION

[Seal]

                               By:____________________________
                                    Name:
                                    Title:
Attest:

________________________
Name:
Title:

                                    -33-

<PAGE>

SECTION 203.     FORM OF REVERSE OF SECURITY.

          This Security is one of a duly authorized issue of securities of the
Company designated as its [     ]% Senior Subordinated Debentures due 2011
(herein called the "Securities"), limited in aggregate principal amount to
$[__________], issued and to be issued under an Indenture, dated as of
[________], [____] (herein called the "Indenture"), between the Company and
Norwest Bank Minnesota, National Association, as Trustee (herein called the
"Trustee," which term includes any successor trustee under the Indenture), to
which Indenture and all indentures supplemental thereto reference is hereby made
for a statement of the respective rights, limitations of rights, duties and
immunities thereunder of the Company, the Trustee, the holders of Senior
Indebtedness and the Holders of the Securities and of the terms upon which the
Securities are, and are to be, authenticated and delivered.

          After ____________, 2005, the Securities may be redeemed at any time
at the option of the Company, in whole or from time to time in part, on not less
than 30 nor more than 60 days prior notice, at the following Redemption Prices
(expressed as percentages of the principal amount thereof).  If redeemed during
the 12-month period beginning [       ] of the years indicated,

<TABLE>
<CAPTION>
                                                Redemption
           Year                                   Price
           ----                                 ----------
           <S>                                  <C>
           2005                                     %
           2006                                     %
           2007                                     %
           2008                                     %
           2009 and thereafter                   100.000%
</TABLE>

together in the case of any such redemption with accrued interest to but
excluding the Redemption Date, but any interest installment whose Stated
Maturity is on or prior to such Redemption Date will be payable to the Holders
of such Securities, or one or more Predecessor Securities, of record at the
close of business on the relevant Record Dates referred to on the face hereof,
all as provided in the Indenture.

          Notwithstanding the foregoing, at any time prior to _____________,
2003, the Company may redeem up to 35% of the aggregate principal amount of
Securities actually issued under the Indenture from the net cash proceeds of a
Qualifying Event at a Redemption Price equal to ___________% of the aggregate
principal amount thereof, together with accrued and unpaid interest to but
excluding the Redemption Date; PROVIDED that at least 65% in aggregate principal
amount of Securities remains outstanding immediately following such redemption;
PROVIDED FURTHER, HOWEVER, that the aggregate liquidation preference of any
shares of Exchangeable Preferred Stock previously

                                    -34-

<PAGE>

redeemed out of the net cash proceeds of a Qualifying Event shall be counted
as aggregate principal amount of Securities issued and redeemed for purposes
of the foregoing 35.0% calculation. Any such redemption must be made within
60 days after the related Qualifying Event.

          In addition, at any time prior to        , 2005, the Securities may be
redeemed at the Company's option, in whole but not in part, at a redemption
price equal to 100% of the aggregate principal amount thereof plus the
Applicable Premium as of, and accrued and unpaid interest, if any, to but
excluding, the redemption date.

          Notice of any optional redemption of any Securities (or portion
thereof) will be given to the Holders at their addresses appearing in the
Security Register not less than 30 nor more than 60 days prior to the Redemption
Date.  The notice of redemption shall state the Redemption Date, the Redemption
Price, if less than all the Outstanding Securities are to be redeemed, principal
amounts of the particular Securities to be redeemed, that on the Redemption Date
the Redemption Price will become due and payable upon each Security to be
redeemed and the place or places where such Securities are to be surrendered for
payment of the Redemption Price.  If less than all of the Securities are to be
redeemed, the particular Securities to be redeemed shall be selected not more
than 60 days prior to the Redemption Date by the Trustee by such method as the
Trustee deems fair and appropriate.

          The Securities do not have the benefit of any sinking fund
obligations.

          In the event of redemption or purchase pursuant to an Offer to
Purchase of this Security in part only, a new Security or Securities for the
unredeemed or unpurchased portion hereof will be issued in the name of the
Holder hereof upon the cancellation hereof.

          The indebtedness evidenced by this Security is, to the extent provided
in the Indenture, subordinate and subject in right of payment to the prior
payment in full of all Senior Indebtedness, and this Security is issued subject
to the provisions of the Indenture with respect thereto. Each Holder of this
Security, by accepting the same, (a) agrees to and shall be bound by such
provisions, (b) authorizes and directs the Trustee on his behalf to take such
action as may be necessary or appropriate to effectuate the subordination so
provided and (c) appoints the Trustee his attorney-in-fact for any and all such
purposes.

          If an Event of Default shall occur and be continuing, the principal of
all the Securities may be declared or automatically become due and payable in
the manner and with the effect provided in the Indenture.

                                    -35-

<PAGE>

          The Indenture provides that, subject to certain conditions, if (i)
certain Net Cash Proceeds are available to the Company as a result of Asset
Sales or (ii) a Change of Control occurs, the Company shall be required to make
an Offer to Purchase for Securities.

          The Indenture contains provisions for defeasance at any time of (i)
the entire indebtedness of this Security or (ii) certain restrictive covenants
and Events of Default with respect to this Security, in each case upon
compliance with certain conditions set forth therein.

          The Indenture permits, with certain exceptions as therein provided,
the amendment thereof and the modification of the rights and obligations of the
Company and the rights of the Holders of the Securities under the Indenture at
any time by the Company and the Trustee with the consent of the Holders of a
majority in aggregate principal amount of the Securities at the time
Outstanding.  The Indenture also contains provisions permitting the Holders of
specified percentages in aggregate principal amount of the Securities at the
time Outstanding, on behalf of the Holders of all the Securities, to waive
compliance by the Company with certain provisions of the Indenture and certain
past defaults under the Indenture and their consequences.  Any such consent or
waiver by the Holder of this Security shall be conclusive and binding upon such
Holder and upon all future Holders of this Security and of any Security issued
upon the registration of transfer hereof or in exchange herefor or in lieu
hereof, whether or not notation of such consent or waiver is made upon this
Security.

          No reference herein to the Indenture and no provision of this Security
or of the Indenture shall alter or impair the obligation of the Company, which
is absolute and unconditional, to pay the principal of (and premium, if any) and
interest on this Security at the time, place and rate, and in the coin or
currency, herein prescribed.

          As provided in the Indenture and subject to certain limitations
therein set forth, the transfer of this Security is registrable in the Security
Register, upon surrender of this Security for registration of transfer at the
Corporate Trust Office or at the office or agency of the Company in the Borough
of Manhattan, New York City, duly endorsed by, or accompanied by a written
instrument of transfer in form satisfactory to the Company and the Security
Registrar duly executed by, the Holder hereof or his attorney duly authorized in
writing, and thereupon one or more new Securities, of authorized denominations
and for the same aggregate principal amount, will be issued to the designated
transferee or transferees.

          The Securities are issuable only in registered form without coupons in
denominations of $1,000 and any integral multiple thereof.  As provided in the
Indenture and subject to certain limitations therein set forth, Securities are
exchangeable for a like

                                    -36-

<PAGE>

aggregate principal amount of Securities of a different authorized
denomination, as requested by the Holder surrendering the same.

          No service charge shall be made for any such registration of transfer
or exchange, but the Company may require payment of a sum sufficient to cover
any tax or other governmental charge payable in connection therewith.

          Prior to due presentment of this Security for registration of
transfer, the Company, the Trustee and any agent of the Company or the Trustee
may treat the Person in whose name this Security is registered as the owner
hereof for all purposes, whether or not this Security be overdue, and neither
the Company, the Trustee nor any such agent shall be affected by notice to the
contrary.

          Interest on this Security shall be computed on the basis of a 360-day
year of twelve 30-day months.

          All terms used in this Security which are not defined herein but which
are defined in the Indenture shall have the meanings assigned to them in the
Indenture.

          The Indenture and this Security shall be governed by and construed in
accordance with the laws of the State of New York.

                                    -37-

<PAGE>

                          OPTION OF HOLDER TO ELECT PURCHASE

          If you want to elect to have this Security purchased in its entirety
by the Company pursuant to Section 1015 or 1017 of the Indenture, check the box:

          / /

          If you want to elect to have only a part of this Security purchased by
the Company pursuant to Section 1015 or 1017 of the Indenture, state the amount:
$_______

Dated:                  Your Signature:__________________________
                                 (Sign exactly as name appears on
                                 the other side of this Security)

Signature Guarantee:______________________________
                 (Signature must be guaranteed
                 by a member firm of the New York
                 Stock Exchange or a commercial
                 bank or trust company)

SECTION 204.     FORM OF TRUSTEE'S CERTIFICATE OF AUTHENTICATION.

          This is one of the Securities referred to in the within-mentioned
Indenture.

                               Norwest Bank Minnesota, National Association,
                               as Trustee

                               By:_______________________,
                                    Authorized Officer

                                      -38-
<PAGE>

                                    ARTICLE THREE

                                    THE SECURITIES

SECTION 301.     TITLE AND TERMS.

          The aggregate principal amount of Securities which may be
authenticated and delivered under this Indenture is limited to [$__________]
[insert liquidation preference of all Exchangeable Preferred Stock being
exchanged for Securities on the Exchange Date, plus the maximum amount of
Securities issuable hereunder as dividends thereon], except for Securities
authenticated and delivered upon registration of transfer of, or in exchange
for, or in lieu of, other Securities pursuant to Section 304, 305, 306, 307, 906
or 1108 or in connection with an Offer to Purchase pursuant to Section 1015 or
1017.

          Subject to Section 303, the Trustee shall authenticate Securities for
original issue on the date of this Indenture in the aggregate principal amount
of [$___________] [insert liquidation preference of all Exchangeable Preferred
Stock being exchanged for Securities on the Exchange Date].  With respect to any
Securities issued after the date of this Indenture for the payment of interest
as permitted by this Section 301, there shall be established in or pursuant to a
resolution of the Board of Directors of the Company, and subject to Section 303,
set forth, or determined in the manner provided in an Officers' Certificate, or
established in one or more indentures supplemental hereto, prior to the issuance
of such Securities ("Additional Securities"):

                 (1)  the aggregate principal amount of such Securities that may
          be authenticated and delivered under this Indenture;

                 (2)  the issuance date of such Securities that may be
          authenticated and delivered under this Indenture; and

                 (3)  that such Additional Securities shall be issuable in the
          same form as the then Outstanding Securities (i.e., as either a Global
          Security or as non-Global Securities) and having the same terms as the
          then Outstanding Securities and the same depositaries.

          The Securities shall be known and designated as the "[     ]% Senior
Subordinated Debentures due 2011" of the Company.  Their Stated Maturity shall
be _________, 2011 and they shall bear interest at the rate of [     ]% per
annum, from their date of issuance or from the most recent Interest Payment Date
to which interest has been paid in cash (or, on or prior to __________, 2005 in
Additional Securities having an aggregate principal amount equal to the amount
of such interest at the option of the Company) or duly provided for, as the case
may be, payable semi-annually on _________ and ____________, commencing on the
first such date following the date of this

                                    -39-

<PAGE>

Indenture, to the Holders of record on the immediately preceding __________
and __________, until the principal thereof is paid or made available for
payment.  The interest so payable, and punctually paid or duly provided for
in respect of any Security, on any Interest Payment Date shall, as provided
in this Indenture, be paid to the Person in whose name such Security (or one
or more Predecessor Securities) is registered at the close of business on the
Regular Record Date for such interest, which shall be _________ or
____________ (whether or not a Business Day), as the case may be, next
preceding such Interest Payment Date.

          The principal of (and premium, if any) and interest on the Securities
shall be payable at the Corporate Trust Office or at the office or agency of the
Company in the City and State of New York maintained for such purpose; PROVIDED,
HOWEVER, that at the option of the Company payment of interest may be made by
check mailed to the address of the Person entitled thereto as such address shall
appear in the Security Register.

          The Securities shall be subject to repurchase by the Company pursuant
to an Offer to Purchase as provided in Sections 1015 and 1017.

          The Securities shall be redeemable as provided in Article Eleven.

          The Securities shall be subordinated in right of payment to Senior
Indebtedness as provided in Article Twelve.

          The Securities shall be subject to defeasance at the option of the
Company as provided in Article Thirteen.

SECTION 302.     DENOMINATIONS.

          The Securities shall be issuable only in registered form without
coupons and only in denominations of $1,000 and any integral multiples thereof.

SECTION 303.     EXECUTION, AUTHENTICATION, DELIVERY AND DATING.

          The Securities shall be executed on behalf of the Company by its
Chairman of the Board, its President or one of its Vice Presidents, under its
corporate seal reproduced thereon attested by its Secretary, one of its
Assistant Secretaries or its Chief Financial Officer.  The signature of any of
these officers on the Securities may be manual or facsimile.

          Securities bearing the manual or facsimile signatures of individuals
who were at any time the proper Officers of the Company shall bind the Company,

                                    -40-

<PAGE>

notwithstanding that such individuals or any of them have ceased to hold such
offices prior to the authentication and delivery of such Securities or did not
hold such offices at the date of such Securities.

          At any time and from time to time after the execution and delivery of
this Indenture, the Company may deliver Securities executed by the Company to
the Trustee for authentication, together with a Company Order for the
authentication and delivery of such Securities; and the Trustee in accordance
with such Company Order shall authenticate and deliver such Securities as in
this Indenture provided and not otherwise.

          Each Security shall be dated the date of its authentication.

          No Security shall be entitled to any benefit under this Indenture or
be valid or obligatory for any purpose unless there appears on such Security a
certificate of authentication substantially in the form provided for herein
executed by the Trustee by manual signature, and such certificate upon any
Security shall be conclusive evidence, and the only evidence, that such Security
has been duly authenticated and delivered hereunder.

SECTION 304.     TEMPORARY SECURITIES.

          Pending the preparation of definitive Securities, the Company may
execute, and upon Company Order the Trustee shall authenticate and deliver,
temporary Securities which are printed, lithographed, typewritten, mimeographed
or otherwise produced, in any authorized denomination, substantially of the
tenor of the definitive Securities in lieu of which they are issued and with
such appropriate insertions, omissions, substitutions and other variations as
the officers executing such Securities may determine, as evidenced by their
execution of such Securities.

          If temporary Securities are issued, the Company will cause definitive
Securities to be prepared without unreasonable delay.  After the preparation of
definitive Securities, the temporary Securities shall be exchangeable for
definitive Securities upon surrender of the temporary Securities at any office
or agency of the Company designated pursuant to Section 1002, without charge to
the Holder. Upon surrender for cancellation of any one or more temporary
Securities the Company shall execute and the Trustee shall authenticate and
deliver in exchange therefor a like principal amount of definitive Securities of
authorized denominations.  Until so exchanged the temporary Securities shall in
all respects be entitled to the same benefits under this Indenture as definitive
Securities.

                                    -41-

<PAGE>

SECTION 305.     GLOBAL SECURITIES.

          (a)    Each Global Security authenticated under this Indenture shall
be registered in the name of the Depositary designated by the Company for such
Global Security or a nominee thereof and delivered to such Depositary or a
nominee thereof or custodian therefor, and each such Global Security shall
constitute a single Security for all purposes of this Indenture.

          (b)    Notwithstanding any other provision in this Indenture, no
Global Security may be exchanged in whole or in part for Securities registered,
and no transfer of a Global Security in whole or in part may be registered, in
the name of any Person other than the Depositary for such Global Security or a
nominee thereof unless (i) such Depositary (A) has notified the Company that it
is unwilling or unable to continue as Depositary for such Global Security or (B)
has ceased to be a clearing agency registered as such under the Exchange Act,
(ii) there shall have occurred and be continuing an Event of Default with
respect to such Global Security, (iii) the Company executes and delivers to the
Trustee a Company Order stating that it elects to cause the issuance of the
Securities in certificated form and that all Global Securities shall be
exchanged in whole for Securities that are not Global Securities (in which case
such exchange shall be effected by the Trustee) or (iv) pursuant to the
following sentence.  All or any portion of a Global Security may be exchanged
for a Security that has a like aggregate principal amount and is not a Global
Security, upon 20 days' prior request made by the Depositary or its authorized
representative to the Trustee.

          (c)    If any Global Security is to be exchanged for other Securities
or cancelled in whole, it shall be surrendered by or on behalf of the Depositary
or its nominee to the Trustee, as Security Registrar, for exchange or
cancellation as provided in this Article Three.  If any Global Security is to be
exchanged for other Securities or cancelled in part, or if another Security is
to be exchanged in whole or in part for a beneficial interest in any Global
Security, then either (i) such Global Security shall be so surrendered for
exchange or cancellation as provided in this Article Three or (ii) the principal
amount thereof shall be reduced or increased by an amount equal to the portion
thereof to be so exchanged or cancelled, or equal to the principal amount of
such other Security to be exchanged for a beneficial interest therein, as the
case may be, by means of an appropriate adjustment made on the records of the
Trustee, as Security Registrar, whereupon the Trustee, in accordance with the
Applicable Procedures, shall instruct the Depositary or its authorized
representative to make a corresponding adjustment to its records.  Upon any such
surrender or adjustment of a Global Security, the Trustee shall, subject to
Section 305(b) and as otherwise provided in this Article Three, authenticate and
deliver any Securities issuable in exchange for such Global Security (or any
portion thereof) to or upon the order of, and registered in such names as may be
directed by, the Depositary or its authorized representative.  Upon the request
of the Trustee in connection with the occurrence of any of the events specified
in the preceding paragraph, the

                                    -42-

<PAGE>

Company shall promptly make available to the Trustee a reasonable supply of
Securities that are not in the form of Global Securities. The Trustee shall
be entitled to rely upon any order, direction or request of the Depositary or
its authorized representative which is given or made pursuant to this Article
Three if such order, direction or request is given or made in accordance with
the Applicable Procedures.

          (d)    Every Security authenticated and delivered upon registration of
transfer of, or in exchange for or in lieu of, a Global Security or any portion
thereof, whether pursuant to this Article Three, Section 906, 1015, 1017 or 1108
or otherwise, shall be authenticated and delivered in the form of, and shall be,
a Global Security, unless such Security is registered in the name of a Person
other than the Depositary for such Global Security or a nominee thereof.

          (e)    The Depositary or its nominee, as registered owner of a Global
Security, shall be the Holder of such Global Security for all purposes under the
Indenture and the Securities, and owners of beneficial interests in a Global
Security shall hold such interests pursuant to the Applicable Procedures.
Accordingly, any such owner's beneficial interest in a Global Security will be
shown only on, and the transfer of such interest shall be effected only through,
records maintained by the Depositary or its nominee or its Agent Members.

SECTION 306.     REGISTRATION; REGISTRATION OF TRANSFER AND EXCHANGE GENERALLY;
                 CERTAIN TRANSFERS AND EXCHANGES.

          (a)     Registration; Registration of Transfer and Exchange Generally.
The Company shall cause to be kept at the Corporate Trust Office a register (the
register maintained in such office and in any other office or agency designated
pursuant to Section 1002 being herein sometimes collectively referred to as the
"Security Register") in which, subject to such reasonable regulations as it may
prescribe, the Company shall provide for the registration of Securities and of
transfers and exchanges of Securities. The Trustee is hereby appointed "Security
Registrar" for the purpose of registering Securities and transfers and exchanges
of Securities as herein provided.

          Upon surrender for registration of transfer of any Security at an
office or agency of the Company designated pursuant to Section 1002 for such
purpose, the Company shall execute, and the Trustee shall authenticate and
deliver, in the name of the designated transferee or transferees, one or more
new Securities of any authorized denominations, of a like aggregate principal
amount and bearing such restrictive legends as may be required by this
Indenture.

          At the option of the Holder, Securities may be exchanged for new
Securities of any authorized denominations, of a like aggregate principal amount
upon surrender of the Securities to be exchanged at such office or agency.
Whenever any

                                    -43-

<PAGE>

Securities are so surrendered for exchange, the Company shall execute, and
the Trustee shall authenticate and deliver, the Securities which the Holder
making the exchange is entitled to receive.

          All Securities issued upon any registration of transfer or exchange of
Securities shall be the valid Obligations of the Company, evidencing the same
debt, and entitled to the same benefits under this Indenture, as the Securities
surrendered upon such registration of transfer or exchange.

          Every Security presented or surrendered for registration of transfer
or for exchange shall (if so required by the Company or the Trustee) be duly
endorsed, or be accompanied by a written instrument of transfer in form
satisfactory to the Company and the Security Registrar duly executed, by the
Holder thereof or his attorney duly authorized in writing.

          No service charge shall be made for any registration of transfer or
exchange of Securities, but the Company may require payment of a sum sufficient
to cover any tax or other governmental charge that may be imposed in connection
with any registration of transfer or exchange of Securities, other than
exchanges pursuant to Section 304, 305, 306, 906, 1015, 1017 or 1108 not
involving any transfer.

          The Company shall not be required (i) to issue, register the transfer
of or exchange any Security during a period beginning at the opening of business
15 days before the day of the mailing of a notice of redemption of Securities
selected for redemption under Section 1104 and ending at the close of business
on the day of such mailing, or (ii) to register the transfer of or exchange any
Security so selected for redemption, in whole or in part, except the unredeemed
portion of any Security being redeemed in part.

          (b)    Certain Transfers and Exchanges.  Notwithstanding any other
provision of this Indenture or the Securities, transfers and exchanges of
Securities and beneficial interests in a Global Security of the kinds specified
in this Section 306(b) shall be made only in accordance with this Section
306(b).

          (i)    A beneficial interest in a Global Security may not be exchanged
     for a Security in certificated form unless (1) DTC (x) notifies the Company
     that it is unwilling or unable to continue as Depositary for the Global
     Security or (y) has ceased to be a clearing agency registered under the
     Exchange Act, and in either case the Company fails to appoint a successor
     Depositary, (2) the Company, at its option, notifies the Trustee in writing
     that it elects to cause the issuance of the Securities in certificated form
     or (3) there shall have occurred and be continuing an Event of Default or
     any event which after notice or lapse of time or both would be an Event of
     Default with respect to the Securities.  In all cases, certificated

                                    -44-

<PAGE>

     Securities delivered in exchange for any Global Security or beneficial
     interests therein shall be registered in the names, and issued in any
     approved denominations, requested by or on behalf of the Depositary (in
     accordance with its customary procedures).  Any certificated Security
     issued in exchange for an interest in a Global Security shall bear the
     legend restricting transfers that is borne by such Global Security.

          (ii)   A beneficial interest in a Global Security may not be
     exchanged for a Security in certificated form unless (A) DTC (x) notifies
     the Company that it is unwilling or unable to continue as Depositary for
     the Global Security or (y) has ceased to be a clearing agency registered
     under the Exchange Act, and in either case the Company fails to appoint a
     successor Depository, (B) the Company, at its options, notifies the
     Trustee in writing that it elects to cause the issuance of the Securities
     in certificated form or (C) there shall have occurred and be continuing
     an Event of Default or any event which after notice or lapse of time or
     both would be an Event of Default with respect to the Securities. In all
     cases, certificated Securities delivered in exchange for any Global
     Security or beneficial interests therein shall be registered in the
     names, and issued in any approved denominations, requested by or on
     behalf of the Depositary (in accordance with its customary procedures).
     Any certificated Security issued in exchange for an interest in a Global
     Security shall bear the legend restricting transfers that is borne by
     such Global Security. Any such exchange shall be effected only through
     the DWAC System and an appropriate adjustment shall be made in the
     records of the Security Register to reflect a decrease in the principal
     amount of the relevant Global Security.

SECTION 307.     MUTILATED, DESTROYED, LOST AND STOLEN SECURITIES.

          If any mutilated Security is surrendered to the Trustee, the Company
shall execute and the Trustee shall authenticate and deliver in exchange
therefor a new Security of like tenor and principal amount and bearing a number
not contemporaneously outstanding.

          If there shall be delivered to the Company and the Trustee (i)
evidence to their satisfaction of the destruction, loss or theft of any Security
and (ii) such security or indemnity as may be required by them to save each of
them and any agent of either of them harmless, then, in the absence of notice to
the Company or the Trustee that such Security has been acquired by a bona fide
purchaser, the Company shall execute and upon its request the Trustee shall
authenticate and deliver, in lieu of any such destroyed, lost or stolen
Security, a new Security of like tenor and principal amount and bearing a number
not contemporaneously outstanding.

                                    -45-

<PAGE>

          In case any such mutilated, destroyed, lost or stolen Security has
become or is about to become due and payable, the Company in its discretion may,
instead of issuing a new Security, pay such Security.

          Upon the issuance of any new Security under this Section, the Company
may require the payment of a sum sufficient to cover any tax or other
governmental charge that may be imposed in relation thereto and any other
expenses (including the fees and expenses of the Trustee) connected therewith.

          Every new Security issued pursuant to this Section in lieu of any
destroyed, lost or stolen Security shall constitute an original additional
contractual obligation of the Company, whether or not the destroyed, lost or
stolen Security shall be at any time enforceable by anyone, and shall be
entitled to all the benefits of this Indenture equally and proportionately with
any and all other Securities duly issued hereunder.

          The provisions of this Section are exclusive and shall preclude (to
the extent lawful) all other rights and remedies with respect to the replacement
or payment of mutilated, destroyed, lost or stolen Securities.

SECTION 308.     PAYMENT OF INTEREST; INTEREST RIGHTS PRESERVED.

          Interest on any Security which is payable, and is punctually paid or
duly provided for, on any Interest Payment Date shall be paid to the Person in
whose name that Security (or one or more Predecessor Securities) is registered
at the close of business on the Regular Record Date for such interest.

          Any interest on any Security which is payable, but is not punctually
paid or duly provided for, on any Interest Payment Date (herein called
"Defaulted Interest") shall forthwith cease to be payable to the Holder on the
relevant Regular Record Date by virtue of having been held by such Holder, and
such Defaulted Interest may be paid by the Company, at its election in each
case, as provided in clause (1) or (2) below:

          (1)    The Company may elect to make payment of any Defaulted Interest
     to the Persons in whose names the Securities (or their respective
     Predecessor Securities) are registered at the close of business on a
     Special Record Date for the payment of such Defaulted Interest, which shall
     be fixed in the following manner.  The Company shall notify the Trustee in
     writing of the amount of Defaulted Interest proposed to be paid on each
     Security and the date of the proposed payment, and at the same time the
     Company shall deposit with the Trustee an amount of money equal to the
     aggregate amount proposed to be paid in respect of such Defaulted Interest
     or shall make arrangements satisfactory to the Trustee for such deposit
     prior to the date of the proposed payment, such money when

                                    -46-

<PAGE>

     deposited to be held in trust for the benefit of the Persons entitled to
     such Defaulted Interest as in this Clause provided. Thereupon the
     Trustee shall fix a Special Record Date for the payment of such
     Defaulted Interest which shall be not more than 15 days and not less
     than 10 days prior to the date of the proposed payment and not less than
     10 days after the receipt by the Trustee of the notice of the proposed
     payment.  The Trustee shall promptly notify the Company of such Special
     Record Date and, in the name and at the expense of the Company, shall
     cause notice of the proposed payment of such Defaulted Interest and the
     Special Record Date therefor to be mailed, first-class postage prepaid,
     to each Holder at his address as it appears in the Security Register,
     not less than 10 days prior to such Special Record Date.  Notice of the
     proposed payment of such Defaulted Interest and the Special Record Date
     therefor having been so mailed, such Defaulted Interest shall be paid to
     the Persons in whose names the Securities (or their respective
     Predecessor Securities) are registered at the close of business on such
     Special Record Date and shall no longer be payable pursuant to the
     following clause (2).

          (2)    The Company may make payment of any Defaulted Interest in any
     other lawful manner not inconsistent with the requirements of any
     securities exchange on which the Securities may be listed, and upon such
     notice as may be required by such exchange, if, after notice given by the
     Company to the Trustee of the proposed payment pursuant to this clause,
     such manner of payment shall be deemed practicable by the Trustee.

          Subject to the foregoing provisions of this Section, each Security
delivered under this Indenture upon registration of transfer of or in exchange
for or in lieu of any other Security shall carry the rights to interest accrued
and unpaid, and to accrue interest, which were carried by such other Security.

          None of the Company, the Trustee, any Paying Agent or the Security
Registrar will have any responsibility or liability for any aspect of the
records relating to or payments made on account of beneficial ownership
interests of a Global Security or for maintaining, supervising or reviewing any
records relating to such beneficial ownership interests.

SECTION 309.     PERSONS DEEMED OWNERS.

          Prior to due presentment of a Security for registration of transfer,
the Company, the Trustee and any agent of the Company or the Trustee may treat
the Person in whose name such Security is registered as the owner of such
security for the purpose of receiving payment of principal of (and premium, if
any) and (subject to Section 308) interest on such Security and for all other
purposes whatsoever, whether or not such

                                    -47-

<PAGE>

Security be overdue, and neither the Company, the Trustee nor any agent of
the Company or the Trustee shall be affected by notice to the contrary.

SECTION 310.     CANCELLATION.

          All Securities surrendered for payment, redemption, registration of
transfer or exchange or for credit against any Offer to Purchase, pursuant to
Section 1015 or 1017, shall, if surrendered to any Person other than the
Trustee, be delivered to the Trustee and shall be promptly cancelled by it.  The
Company may at any time deliver to the Trustee for cancellation any Securities
previously authenticated and delivered hereunder which the Company may have
acquired in any manner whatsoever, and all Securities so delivered shall be
promptly cancelled by the Trustee.  No Securities shall be authenticated in lieu
of or in exchange for any Securities cancelled as provided in this Section 310,
except as expressly permitted by this Indenture. All cancelled Securities held
by the Trustee shall (subject to the record-retention requirements of the
Exchange Act) be disposed of as directed by a Company Order.

SECTION 311.     COMPUTATION OF INTEREST.

          Interest on the Securities shall be computed on the basis of a 360-day
year of twelve 30-day months.

                                      -48-

<PAGE>

                                     ARTICLE FOUR

                              SATISFACTION AND DISCHARGE

SECTION 401.     SATISFACTION AND DISCHARGE OF INDENTURE.

          This Indenture shall cease to be of further effect (except as to
any surviving rights of registration of transfer or exchange of Securities
herein expressly provided for), and the Trustee, on demand of and at the
expense of the Company, shall execute proper instruments acknowledging
satisfaction and discharge of this Indenture (including, but not limited to,
Article Twelve hereof), when

          (1)    either

                 (A)    all Securities theretofore authenticated and delivered
          (other than (i) Securities which have been destroyed, lost or stolen
          and which have been replaced or paid as provided in Section 307 and
          (ii) Securities for whose payment money has theretofore been deposited
          in trust or segregated and held in trust by the Company and thereafter
          repaid to the Company or discharged from such trust, as provided in
          Section 1003) have been delivered to the Trustee for cancellation; or

                 (B)    all such Securities not theretofore delivered to the
          Trustee for cancellation

                        (i)    have become due and payable, or

                        (ii)   will become due and payable at their Stated
                 Maturity within one year, or

                        (iii)  are to be called for redemption within one year
                 under arrangements satisfactory to the Trustee for the giving
                 of notice of redemption by the Trustee in the name, and at the
                 expense, of the Company,

          and the Company, in the case of (i), (ii) or (iii) above, has
          deposited or caused to be deposited with the Trustee as trust funds in
          trust for the purpose an amount sufficient to pay and discharge the
          entire indebtedness on such Securities not theretofore delivered to
          the Trustee for cancellation, for principal (and premium, if any) and
          interest to the date of such deposit (in the case of Securities which
          have become due and payable) or to the Stated Maturity or Redemption
          Date, as the case may be;

                                       -49-
<PAGE>

          (2)    the Company has paid or caused to be paid all other sums
     payable hereunder by the Company; and

          (3)    the Company has delivered to the Trustee an Officers'
     Certificate and an Opinion of Counsel, each stating that all conditions
     precedent herein provided that relate to the satisfaction and discharge of
     this Indenture have been satisfied.

Notwithstanding the satisfaction and discharge of this Indenture pursuant to
this Article Four, the obligations of the Company to the Trustee under
Section 607, the obligations of the Trustee to any Authenticating Agent under
Section 614 and, if money shall have been deposited with the Trustee pursuant
to subclause (B) of clause (1) of this Section, the obligations of the
Trustee under Section 402 and the last paragraph of Section 1003 shall
survive.

SECTION 402.     APPLICATION OF TRUST MONEY.

          Subject to the provisions of the last paragraph of Section 1003,
all money deposited with the Trustee pursuant to Section 401 shall be held in
trust and applied by it, in accordance with the provisions of the Securities
and this Indenture, to the payment, either directly or through any Paying
Agent (including the Company acting as its own Paying Agent) as the Trustee
may determine, to the Persons entitled thereto, of the principal (and
premium, if any) and interest for whose payment such money has been deposited
with the Trustee.

                                       -50-
<PAGE>

                                     ARTICLE FIVE

                                       REMEDIES

SECTION 501.     EVENTS OF DEFAULT.

          "Event of Default," wherever used herein, means any one of the
following events (whatever the reason for such Event of Default and whether
it shall be occasioned by the provisions of Article Twelve or be voluntary or
involuntary or be effected by operation of law or pursuant to any judgment,
decree or order of any court or any order, rule or regulation of any
administrative or governmental body):

          (1)    failure to pay the principal of (or premium, if any, on) any
     Security at its Maturity; or

          (2)    failure to pay any interest upon any Security for a period of
     30 days or more after it becomes due and payable; or

          (3)    failure to Offer to Purchase or, on the applicable Purchase
     Date, to purchase Securities required to be purchased by the Company
     pursuant to Section 1015 or 1017; or

          (4)    failure to perform or comply with, or breach of, Article Eight;
     or

          (5)    failure to perform, or breach of, any other covenant or
     agreement of the Company in this Indenture (other than a covenant or
     agreement a default in whose performance or whose breach is elsewhere in
     this Section 501 specifically addressed), and continuance of such failure
     or breach for a period of 30 days after there has been given, by registered
     or certified mail, to the Company by the Trustee or to the Company and the
     Trustee by the Holders of at least 25% in aggregate principal amount of the
     Outstanding Securities a written notice specifying such failure or breach
     and requiring it to be remedied and stating that such notice is a "Notice
     of Default" hereunder; or

          (6)    a default or defaults under any bond(s), debenture(s), note(s)
     or other evidence(s) of Indebtedness by the Company or any Restricted
     Subsidiary of the Company or under any mortgage(s), indenture(s) or
     instrument(s) under which there may be issued or by which there may be
     secured or evidenced any Indebtedness of such type by the Company or any
     such Restricted Subsidiary with a principal amount then outstanding,
     individually or in the aggregate, in excess of $10 million, whether such
     Indebtedness now exists or shall hereafter be created, which default or
     defaults result in the acceleration of the payment of such Indebtedness or
     shall constitute a failure to pay any portion of the principal of such

                                      -51-
<PAGE>

     Indebtedness at maturity after the expiration of any applicable grace
     period with respect thereto or shall have resulted in such Indebtedness
     becoming or being declared due and payable prior to the date on which it
     would otherwise have become due and payable; or

          (7)    a final judgment or final judgments for the payment of money
     are entered against the Company or any Restricted Subsidiary of the Company
     in an aggregate amount in excess of $10 million (net of any amounts with
     respect to which a reputable and financially sound insurance company has
     acknowledged liability in writing), which judgments remain undischarged,
     unstayed or unbonded for a period (during which execution shall not be
     effectively stayed) of 60 days after the right to appeal has expired; or

          (8)    the entry by a court having jurisdiction in the premises of (A)
     a decree or order for relief in respect of the Company or any Restricted
     Subsidiary that is a Significant Subsidary of the Company in an involuntary
     case or proceeding under any applicable Federal or State bankruptcy,
     insolvency, reorganization or other similar law or (B) a decree or order
     adjudging the Company or any such Significant Subsidiary a bankrupt or
     insolvent, or approving as properly filed a petition seeking
     reorganization, arrangement, adjustment or composition of or in respect of
     the Company or any such Significant Subsidiary under any applicable Federal
     or State law, or appointing a custodian, receiver, liquidator, assignee,
     trustee, sequestrator or other similar official of the Company or any such
     Significant Subsidiary or of any substantial part of the property of the
     Company or any such Significant Subsidiary, or ordering the winding up or
     liquidation of the affairs of the Company or any such Significant
     Subsidiary, and the continuance of any such decree or order for relief or
     any such other decree or order unstayed and in effect for a period of 60
     consecutive days; or

          (9)    the commencement by the Company or any Restricted Subsidiary
     that is a Significant Subsidiary of the Company of a voluntary case or
     proceeding under any applicable Federal or State bankruptcy, insolvency,
     reorganization or other similar law or of any other case or proceeding to
     be adjudicated a bankrupt or insolvent, or the consent by the Company or
     any such Significant Subsidiary to the entry of a decree or order for
     relief in respect of the Company or any Restricted Subsidiary that is a
     Significant Subsidiary of the Company in an involuntary case or proceeding
     under any applicable Federal or State bankruptcy, insolvency,
     reorganization or other similar law or to the commencement of any
     bankruptcy or insolvency case or proceeding against the Company or any
     Restricted Subsidiary that is a Significant Subsidiary of the Company, or
     the filing by the Company or any such Restricted Subsidiary that is a
     Significant Subsidiary of a petition or answer or consent seeking
     reorganization or relief under any applicable Federal or State law, or the
     consent by the Company or any such

                                      -52-
<PAGE>

     Restricted Subsidiary that is a Significant Subsidiary to the filing of
     such petition or to the appointment of or taking possession by a custodian,
     receiver, liquidator, assignee, trustee, sequestrator or similar official
     of the Company or any Restricted Subsidiary that is a Significant
     Subsidiary of the Company or of any substantial part of the property of the
     Company or any Restricted Subsidiary that is a Significant Subsidiary of
     the Company, or the making by the Company or any Restricted Subsidiary of
     the Company of an assignment for the benefit of creditors, or the admission
     by the Company or any such Significant Subsidiary in writing of its
     inability to pay its debts generally as they become due, or the taking of
     corporate action by the Company or any such Significant Subsidiary in
     furtherance of any such action.

SECTION 502.     ACCELERATION OF MATURITY; RESCISSION AND ANNULMENT.

          If an Event of Default (other than an Event of Default specified in
Section 501(8) or (9)) shall occur and be continuing, then and in every such
case the Trustee or the Holders of not less than 25% in aggregate principal
amount of the Outstanding Securities may declare the principal of all the
Securities to be due and payable immediately, by a notice in writing to the
Company (and to the Trustee if given by Holders), and upon any such
declaration such principal (and premium, if any) and any accrued interest
shall become immediately due and payable.  If an Event of Default specified
in Section 501(8) or (9) occurs, the principal of (and premium, if any) and
any accrued interest on the Securities then Outstanding shall IPSO FACTO
become immediately due and payable without any declaration or other Act on
the part of the Trustee or any Holder.

          At any time after such a declaration of acceleration has been made
and before a judgment or decree based on acceleration for payment of the
money due has been obtained by the Trustee, as hereinafter provided in this
Article Five, the Holders of a majority in aggregate principal amount of the
Outstanding Securities, by written notice to the Company and the Trustee, may
rescind and annul such declaration of acceleration and its consequences if

          (1)    the Company has paid or deposited with the Trustee a sum
     sufficient to pay

                 (A)    all overdue interest on all Securities,

                 (B)    the principal of (and premium, if any, on) any
          Securities which have become due otherwise than by such declaration of
          acceleration (including any Securities required to have been purchased
          on the Purchase Date pursuant to an Offer to Purchase made by the
          Company) and, to the

                                      -53-
<PAGE>

          extent that payment of such interest is lawful, interest thereon at
          the rate provided by the Securities,

                 (C)    to the extent that payment of such interest is lawful,
          interest upon overdue interest at the rate provided by the Securities,
          and

                 (D)    all sums paid or advanced by the Trustee hereunder and
          the reasonable compensation, expenses, disbursements and advances of
          the Trustee, its agents and counsel;

     and

          (2)    all Events of Default, other than the nonpayment of the
     principal of Securities which have become due solely by such declaration of
     acceleration, have been cured or waived as provided in Section 513.

No such rescission shall affect any subsequent default or impair any right
consequent thereon.

          No Holder of any Securities will have any right to institute any
proceeding with respect to the Securities or for any remedy thereunder,
unless such Holder shall have previously given to the Debentures Trustee
written notice of an Event of Default and unless the Holders of at least 25%
in aggregate principal amount of the outstanding Securities shall have made
written request to the Trustee and the Trustee shall not have received from
the Holders of a majority in aggregate principal amount of the outstanding
Securities a direction inconsistent with such request and shall have failed
to constitute such proceeding within 60 days.  However, such limitations do
not apply to a suit instituted by a Holder of Securities for enforcement of
payment of the principal of and premium, if any, or interest on such
Securities on or after the respective due dates expressed in such Securities.
 The Holders of a majority in aggregate principal amount of the Securities
outstanding may waive any existing Event of Default except an Event of
Default in the payment of interest or principal (including premium) on the
Securities.

SECTION 503.     COLLECTION OF INDEBTEDNESS AND SUITS FOR ENFORCEMENT BY
                 TRUSTEE.

          The Company covenants that if

          (1)    default is made in the payment of any interest on any Security
     when such interest becomes due and payable and such default continues for a
     period of 30 days, or

          (2)    default is made in the payment of the principal of (or premium,
     if any, on) any Security at the Maturity thereof or, with respect to any
     Security

                                      -54-
<PAGE>

     required to have been purchased pursuant to an Offer to Purchase made by
     the Company, at the Purchase Date thereof,

the Company shall, upon demand of the Trustee, and subject to Article Twelve,
pay to it, for the benefit of the Holders of such Securities, the whole
amount then due and payable on such Securities for principal (and premium, if
any) and interest, and, to the extent that payment of such interest shall be
legally enforceable, interest on any overdue principal (and premium, if any)
and on any overdue interest, at the rate provided by the Securities, and, in
addition thereto, such further amount as shall be sufficient to cover the
costs and expenses of collection, including the reasonable compensation,
expenses, disbursements and advances of the Trustee, its agents and counsel.

          If the Company fails to pay such amounts forthwith upon such
demand, the Trustee, in its own name and as Trustee of an express trust, may
institute a judicial proceeding for the collection of the sums so due and
unpaid, may prosecute such proceeding to judgment or final decree and may
enforce the same against the Company or any other obligor upon the Securities
and collect the moneys adjudged or decreed to be payable in the manner
provided by law out of the property of the Company or any other obligor upon
the Securities wherever situated.

          If an Event of Default occurs and is continuing, the Trustee may in
its discretion proceed to protect and enforce its rights and the rights of
the Holders by such appropriate judicial proceedings as the Trustee shall
deem most effectual to protect and enforce any such rights, whether for the
specific enforcement of any covenant or agreement in this Indenture or in aid
of the exercise of any power granted herein, or to enforce any other proper
remedy.

SECTION 504.     TRUSTEE MAY FILE PROOFS OF CLAIM.

          In case of any judicial proceeding relative to the Company (or any
other obligor upon the Securities), its property or its creditors, the
Trustee shall be entitled and empowered, by intervention in such proceeding
or otherwise, to take any and all actions authorized under the Trust
Indenture Act in order to have claims of the Holders and the Trustee allowed
in any such proceeding.  In particular, the Trustee shall be authorized to
collect and receive any moneys or other property payable or deliverable on
any such claims and, subject to Article Twelve, to distribute the same; and
any custodian, receiver, assignee, trustee, liquidator, sequestrator or other
similar official in any such judicial proceeding is hereby authorized by each
Holder to make such payments to the Trustee and, in the event that the
Trustee shall consent to the making of such payments directly to the Holders,
to pay to the Trustee any amount due it for the reasonable compensation,
expenses, disbursements and advances of the Trustee, its agents and Counsel,
and any other amounts due the Trustee under Section 607.

                                      -55-
<PAGE>

          No provision of this Indenture shall be deemed to authorize the
Trustee to authorize or consent to or accept or adopt on behalf of any Holder
any plan of reorganization, arrangement adjustment or composition affecting the
Securities or the rights of any Holder thereof or to authorize the Trustee to
vote in respect of the claim of any Holder in any such proceeding; PROVIDED,
HOWEVER, that the Trustee may, on behalf of the Holders, vote for the election
of a trustee in bankruptcy or similar official and may be a member of the
creditors' committee.

SECTION 505.     TRUSTEE MAY ENFORCE CLAIMS WITHOUT POSSESSION OF SECURITIES.

          All rights of action and claims under this Indenture or the Securities
may be prosecuted and enforced by the Trustee without the possession of any of
the Securities or the production thereof in any proceeding relating thereto, and
any such proceeding instituted by the Trustee shall be brought in its own name
as trustee of an express trust, and any recovery of judgment shall, after
provision for the payment of the reasonable compensation, expenses,
disbursements and advances of the Trustee, its agents and counsel, be for the
ratable benefit of the Holders of the Securities in respect of which such
judgment has been recovered.

SECTION 506.     APPLICATION OF MONEY COLLECTED.

          Subject to Article Twelve, any money and property collected by the
Trustee pursuant to this Article shall be applied in the following order, at the
date or dates fixed by the Trustee and, in case of the distribution of such
money on account of principal (or premium, if any) or interest, upon
presentation of the Securities and the notation thereon of the payment if only
partially paid and upon surrender thereof if fully paid:

          FIRST:  To the payment of all amounts due the Trustee under Section
     607; and

          SECOND: To the extent provided in Article Twelve, to the holders of
     Senior Indebtedness in accordance with Article Twelve; and

          THIRD:  To the payment of the amounts then due and unpaid for
     principal of (and premium, if any) and interest on the Securities in
     respect of which or for the benefit of which such money has been collected,
     ratably, without preference or priority of any kind, according to the
     amounts due and payable on such Securities for principal (and premium, if
     any) and interest, respectively.

                                     -56-

<PAGE>

SECTION 507.     LIMITATION ON SUITS.

          No Holder of any Security shall have any right to institute any
proceeding, judicial or otherwise, with respect to this Indenture, or for the
appointment of a receiver or trustee, or for any other remedy hereunder, unless

          (1)    such Holder has previously given written notice to the Trustee
     of an Event of Default;

          (2)    the Holders of not less than 25% in aggregate principal amount
     of the Outstanding Securities shall have made written request to the
     Trustee to institute proceedings in respect of such Event of Default in its
     own name as Trustee hereunder;

          (3)    such Holder or Holders have offered to the Trustee reasonable
     indemnity against the costs, expenses and liabilities to be incurred in
     compliance with such request; and

          (4)    no direction inconsistent with such written request has been
     given to the Trustee during such 60-day period by the Holders of a majority
     in aggregate principal amount of the Outstanding Securities;

it being understood and intended that no one or more Holders shall have any
right in any manner whatever, by virtue of, or by availing of, any provision of
this Indenture to affect, disturb or prejudice the rights of any other Holders,
or to obtain or to seek to obtain priority or preference over any other Holders
or to enforce any right under this Indenture, except in the manner herein
provided and for the equal and ratable benefit of all the Holders.

SECTION 508.     UNCONDITIONAL RIGHT OF HOLDERS TO RECEIVE PRINCIPAL  PREMIUM
                 AND INTEREST.

          Notwithstanding any other provision in this Indenture, the Holder of
any Security shall have the right, which is absolute and unconditional, to
receive payment of the principal of (and premium, if any) and (subject to
Section 308) interest on such Security on the respective Stated Maturities
expressed in such Security (or, in the case of redemption, on the Redemption
Date or, in the case of an Offer to Purchase made by the Company and required to
be accepted as to such Security, on the Purchase Date) and to institute suit for
the enforcement of any such payment, on or after such respective dates and such
rights shall not be impaired without the consent of such Holder.

                                     -57-

<PAGE>

SECTION 509.     RESTORATION OF RIGHTS AND REMEDIES.

          If the Trustee or any Holder has instituted any proceeding to enforce
any right or remedy under this Indenture and such proceeding has been
discontinued or abandoned for any reason, or has been determined adversely to
the Trustee or to such Holder, then and in every such case, subject to any
determination in such proceeding, the Company, the Trustee and the Holders shall
be restored severally and respectively to their former positions hereunder and
thereafter all rights and remedies of the Trustee and the Holders shall continue
as though no such proceeding had been instituted.

SECTION 510.     RIGHTS AND REMEDIES CUMULATIVE.

          Except as otherwise provided with respect to the replacement or
payment of mutilated, destroyed, lost or stolen Securities in the last paragraph
of Section 307, no right or remedy herein conferred upon or reserved to the
Trustee or to the Holders is intended to be exclusive of any other right or
remedy, and every right and remedy shall, to the extent permitted by law, be
cumulative and in addition to every other right and remedy given hereunder or
now or hereafter existing at law or in equity or otherwise.  The assertion or
employment of any right or remedy hereunder, otherwise, shall not prevent the
concurrent assertion or employment of any other appropriate right or remedy.

SECTION 511.     DELAY OR OMISSION NOT WAIVER.

          No delay or omission of the Trustee or of any Holder of any Security
to exercise any right or remedy accruing upon any Event of Default shall impair
any such right or remedy or constitute a waiver of any such Event of Default or
an acquiescence therein.  Every right and remedy given by this Article Five or
by law to the Trustee or to the Holders may be exercised from time to time, and
as often as may be deemed expedient, by the Trustee or by the Holders, as the
case may be.

SECTION 512.     CONTROL BY HOLDERS.

          The Holders of a majority in aggregate principal amount of the
Outstanding Securities shall have the right to direct the time, method and place
of conducting any proceeding for any remedy available to the Trustee or
exercising any trust or power conferred on the Trustee, PROVIDED that

          (1)    such direction shall not be in conflict with any rule of law or
     with this Indenture,

                                     -58-

<PAGE>

          (2)    the Trustee may take any other action deemed proper by the
     Trustee which is not inconsistent with such direction, and

          (3)    subject to the provisions of Section 601, the Trustee shall
     have the right to decline to follow any such direction if the Trustee,
     being advised by counsel, shall determine that the action or proceeding so
     directed may not lawfully be taken or if the Trustee in good faith shall
     determine that the action or proceedings so directed might involve the
     Trustee in personal liability or if the Trustee in good faith shall so
     determine that the actions or forbearances specified in or pursuant to such
     direction shall be unduly prejudicial to the interest of holders of the
     Securities not joining in the giving of said direction, it being understood
     that the Trustee shall have no duty to ascertain whether or not such
     actions or forbearances are unduly prejudicial to such holders.

SECTION 513.     WAIVER OF PAST DEFAULTS.

          The Holders of not less than a majority in aggregate principal amount
of the Outstanding Securities may on behalf of the Holders of all the Securities
waive any past default hereunder and its consequences, except a default

          (1)    in the payment of the principal of (or premium, if any) or
     interest on any Security (including any Security which is required to have
     been purchased pursuant to an Offer to Purchase which has been made by the
     Company), or

          (2)    in respect of a covenant or provision hereof which under
     Article Nine cannot be modified or amended without the consent of the
     Holder of each Outstanding Security affected.

          Upon any such waiver, such default shall cease to exist, and any Event
of Default arising therefrom shall be deemed to have been cured, for every
purpose of this Indenture; but no such waiver shall extend to any subsequent or
other default or impair any right consequent thereon.

SECTION 514.     UNDERTAKING FOR COSTS.

          In any suit for the enforcement of any right or remedy under this
Indenture, or in any suit against the Trustee for any action taken, suffered or
omitted by it as Trustee, a court may require any party litigant in such suit to
file an undertaking to pay the costs of such suit, and may assess costs against
any such party litigant, in the manner and to the extent provided in the Trust
Indenture Act.  This Section 514 does not apply to a suit by

                                     -59-

<PAGE>

the Trustee, a suit by a Holder pursuant to Section 508 or a suit by the
Holders of more than 10% in aggregate principal amount of the Securities.

SECTION 515.     WAIVER OF STAY OR EXTENSION LAWS.

          The Company covenants (to the extent that it may lawfully do so) that
it will not at any time insist upon, or plead, or in any manner whatsoever claim
or take the benefit or advantage of, any stay or extension law wherever enacted,
now or at any time hereafter in force, which may affect the covenants or the
performance of this Indenture; and the Company (to the extent that it may
lawfully do so) hereby expressly waives all benefit or advantage of any such law
and covenants that it will not hinder, delay or impede the execution of any
power herein granted to the Trustee, but will suffer and permit the execution of
every such power as though no such law had been enacted.

                                     -60-

<PAGE>

                                     ARTICLE SIX

                                     THE TRUSTEE

SECTION 601.     CERTAIN DUTIES AND RESPONSIBILITIES.

          (a)    The duties and responsibilities of the Trustee shall be as
provided in this Indenture and by the Trust Indenture Act.  Notwithstanding the
foregoing, no provision of this Indenture shall require the Trustee to expend or
risk its own funds or otherwise incur any financial liability in the performance
of any of its duties hereunder, or in the exercise of any of its rights or
powers, if it shall have reasonable grounds for believing that repayment of such
funds or adequate indemnity against such risk or liability is not reasonably
assured to it.  If a default or an Event of Default has occurred and is
continuing, the Trustee shall exercise the rights and powers vested in it by
this Indenture and use the same degree of care and skill in their exercise as a
prudent Person would exercise or use under the circumstances in the conduct of
such Person's own affairs.   Whether or not therein expressly so provided, every
provision of this Indenture relating to the conduct or affecting the liability
of or affording protection to the Trustee shall be subject to the provisions of
this Section 601.

          (b)    The Trustee may not be relieved from liability for its own
negligent action, its own negligent failure to act or its own wilful misconduct,
except that:

                 (1)    this Section 601(b) does not limit the effect of
          Section 603;

                 (2)    the Trustee shall not be liable for any error of
          judgment made in good faith by a Trust Officer unless it is proved
          that the Trustee was negligent in ascertaining the pertinent facts;
          and

                 (3)    the Trustee shall not be liable with respect to any
          action it takes or omits to take in good faith in accordance with a
          direction received by it pursuant to Section 512.

SECTION 602.     NOTICE OF DEFAULTS.

          The Trustee shall give the Holders notice of any default hereunder
within 90 days after the occurrence thereof as and to the extent provided by the
Trust Indenture Act.  For the purpose of this Section 602, the term "default"
means any event which is, or after notice or lapse of time or both would become,
an Event of Default.  Except in the case of a default or an Event of Default in
payment of principal of (and premium, if any, on) or interest on any Securities,
the Trustee may withhold the notice to the Holders if and

                                      -61-

<PAGE>

so long as a committee of its trust officers in good faith determines that
withholding such notice is in the interests of the Holders.

SECTION 603.     CERTAIN RIGHTS OF TRUSTEE.

          Subject to the provisions of Section 601:

          (a)    except during the continuance of a default or an Event of
     Default the Trustee shall undertake to perform such duties as are
     specifically set forth in this Indenture and no implied covenants or
     obligations shall be read into this Indenture against the Trustee;

          (b)    except during the continuance of a default or an Event of
     Default, in the absence of bad faith in its part, the Trustee may rely and
     shall be protected in acting or refraining from acting upon any resolution,
     certificate, Officers' Certificate, statement, instrument, opinion, report,
     notice, request, direction, consent, order, bond, debenture, note, other
     evidence of indebtedness or other paper or document believed by it to be
     genuine and to have been signed or presented by the proper party or
     parties;

          (c)    any request or direction of the Company mentioned herein shall
     be sufficiently evidenced by a Company Request or Company Order and any
     resolution of the Board of Directors of the Company may be sufficiently
     evidenced by a Board Resolution;

          (d)    whenever in the administration of this Indenture the Trustee
     shall deem it desirable that a matter be proved or established prior to
     taking, suffering or omitting any action hereunder, the Trustee (unless
     other evidence be herein specifically prescribed) may, in the absence of
     bad faith on its part, rely upon an Officers' Certificate;

          (e)    before the Trustee acts or refrains from acting, the Trustee
     may consult with counsel and the written advice of such counsel or any
     Opinion of Counsel shall be full and complete authorization and protection
     in respect of any action taken, suffered or omitted by it hereunder in good
     faith and in reliance thereon;

          (f)    the Trustee shall be under no obligation to exercise any of the
     rights or powers vested in it by this Indenture at the request or direction
     of any of the Holders pursuant to this Indenture, unless such Holders shall
     have offered to the Trustee reasonable security or indemnity against the
     costs, expenses and liabilities which might be incurred by it in compliance
     with such request or direction;

                                      -62-

<PAGE>

          (g)    the Trustee shall not be bound to make any investigation into
     the facts or matters stated in any resolution, certificate, statement,
     instrument, opinion, report, notice, request, direction, consent, order,
     bond, debenture, note, other evidence of indebtedness or other paper or
     document unless requested to do so by the Holders of not less than a
     majority in aggregate principal amount of the Securities then Outstanding,
     but the Trustee, in its discretion, may make such further inquiry or
     investigation into such facts or matters as it may see fit, and, if the
     Trustee shall determine to make such further inquiry or investigation, it
     shall be entitled to examine the books, records and premises of the
     Company, personally or by agent or attorney;

          (h)    the Trustee may execute any of the trusts or powers hereunder
     or perform any duties hereunder either directly or by or through agents or
     attorneys and the Trustee shall not be responsible for any misconduct or
     negligence on the part of any agent or attorney appointed with due care by
     it hereunder;

          (i)    the Trustee shall not be required to give any bond or surety in
     respect of the performance of its powers and duties hereunder;

          (j)    the Trustee shall not be bound to ascertain or inquire as to
     the performance or observance of any covenants, conditions or agreements on
     the part of the Company, except as otherwise provided herein, but the
     Trustee may require of the Company full information and advice as to the
     performance of the covenants, conditions and agreements contained herein
     and shall be entitled in connection herewith to examine the books, records
     and premises of the Company; and

          (k)    except for (i) a default under Section 501(1), (2) or (3)
     hereof, or (ii) any other event of which the Trustee has "actual knowledge"
     and which event, with the giving of notice or the passage of time or both,
     would constitute an Event of Default under this Indenture, the Trustee
     shall not be deemed to have notice of any default or Event of Default
     unless specifically notified in writing of such event by the Company or the
     Holders of not less than 25% in aggregate principal amount of the
     Securities then Outstanding. As used herein, the term "actual knowledge"
     means the actual fact or statement of knowing, without any duty to make any
     investigation with regard thereto.

SECTION 604.     NOT RESPONSIBLE FOR RECITALS OR ISSUANCE OF SECURITIES.

          The recitals contained herein and in the Securities, except the
Trustee's certificates of authentication, shall be taken as the statements of
the Company, and the Trustee assumes no responsibility for their correctness.
The Trustee makes no

                                      -63-

<PAGE>

representations as to the validity or sufficiency of this Indenture or of the
Securities.  The Trustee shall not be accountable for the use or application
by the Company of Securities or the proceeds thereof.

SECTION 605.     MAY HOLD SECURITIES.

          The Trustee, any Authenticating Agent, any Paying Agent, any Security
Registrar or any other agent of the Company, in its individual or any other
capacity, may become the owner or pledgee of Securities and, subject to Sections
608 and 613, may otherwise deal with the Company with the same rights it would
have if it were not Trustee, Authenticating Agent, Paying Agent, Security
Registrar or such other agent.

SECTION 606.     MONEY HELD IN TRUST.

          Money held by the Trustee in trust hereunder need not be segregated
from other funds except to the extent required by law.  The Trustee shall be
under no liability for interest on any money received by it hereunder except as
otherwise agreed with the Company.

SECTION 607.     COMPENSATION AND REIMBURSEMENT.

          The Company agrees

          (1)    to pay to the Trustee from time to time, and the Trustee shall
     be entitled to, reasonable compensation for all services rendered by it
     hereunder (which compensation shall not be limited by any provision of law
     in regard to the compensation of a trustee of an express trust);

          (2)    except as otherwise expressly provided herein, to reimburse the
     Trustee upon its request for all reasonable expenses, disbursements and
     advances incurred or made by the Trustee in accordance with any provision
     of this Indenture, including costs of collection (including the reasonable
     compensation and the expenses and disbursements of its agents and counsel),
     except any such expense, disbursement or advance as may be attributable to
     its negligence or willful misconduct; and

          (3)    to indemnify the Trustee for, and to hold it harmless against,
     any loss, liability or expense incurred without negligence or willful
     misconduct on its part, arising out of or in connection with the acceptance
     or administration of this trust, including the costs and expenses of
     defending itself against or investigating

                                      -64-

<PAGE>

     any claim or liability in connection with the exercise or performance of
     any of its powers or duties hereunder.

          The obligations of the Company under this Section 607 shall survive
the satisfaction and discharge of this Indenture.  As security for the
performance of such obligations of the Company, the Trustee shall have a claim
prior to the Securities upon all property and funds held or collected by the
Trustee as such, except funds held in trust for the payment of principal of (and
premium, if any) and interest on particular Securities.  When the Trustee incurs
expenses or renders services in connection with an Event of Default specified in
Article Five hereof, the expenses (including reasonable fees and expenses of its
counsel) and the compensation for the services in connection therewith are
intended to constitute expense of administration under any applicable bankruptcy
law.

SECTION 608.     DISQUALIFICATION; CONFLICTING INTERESTS.

          If the Trustee has or shall acquire a conflicting interest within the
meaning of the Trust Indenture Act, the Trustee shall either eliminate such
interest or resign, to the extent and in the manner provided by, and subject to
the provisions of, the Trust Indenture Act and this Indenture.  Neither the
Company nor any Person directly or indirectly controlling, or controlled by, or
under common control with the Company shall serve as the Trustee.

SECTION 609.     CORPORATE TRUSTEE REQUIRED; ELIGIBILITY.

          There shall at all times be a Trustee hereunder which shall be a
Person that is eligible pursuant to the Trust Indenture Act to act as such and
has (or in the case of a Person included in a bank holding company system, the
related bank holding company shall have) a combined capital and surplus of at
least $50 million and its Corporate Trust Office in New York City or
Minneapolis.  If such Person publishes reports of condition at least annually,
pursuant to law or to the requirements of said supervising or examining
authority, then for the purposes of this Section 609, the combined capital and
surplus of such Person shall be deemed to be its combined capital and surplus as
set forth in its most recent report of condition so published.  If at any time
the Trustee shall cease to be eligible in accordance with the provisions of this
Section 609, it shall resign immediately in the manner and with the effect
hereinafter specified in this Article Six.

                                      -65-

<PAGE>

SECTION 610.     RESIGNATION AND REMOVAL; APPOINTMENT OF SUCCESSOR.

          (a)    No resignation or removal of the Trustee and no appointment of
a successor Trustee pursuant to this Article Six shall become effective until
the acceptance of appointment by the successor Trustee under Section 611.

          (b)    The Trustee may resign at any time by giving written notice
thereof to the Company.  If an instrument of acceptance by a successor Trustee
shall not have been delivered to the Trustee within 30 days after the giving of
such notice of resignation, the resigning Trustee may petition any court of
competent jurisdiction for the appointment of a successor Trustee.

          (c)    The Trustee may be removed at any time by Act of the Holders of
a majority in principal amount of the Outstanding Securities, delivered to the
Trustee and to the Company.

          (d)    If at any time:

          (1)    the Trustee shall fail to comply with Section 608 after written
     request therefor by the Company or by any Holder who has been a bona fide
     Holder of a Security for at least six months, or

          (2)    the Trustee shall cease to be eligible under Section 609 and
     shall fail to resign after written request therefor by the Company or by
     any such Holder, or

          (3)    the Trustee shall become incapable of acting or shall be
     adjudged a bankrupt or insolvent or a receiver of the Trustee or of its
     property shall be appointed or any public officer shall take charge or
     control of the Trustee or of its property or affairs for the purpose of
     rehabilitation, conservation or liquidation, then, in any such case, (i)
     the Company by a Board Resolution may remove the Trustee, or (ii) subject
     to Section 514, any Holder who has been a bona fide Holder of a Security
     for at least 6 months may, on behalf of himself and all others similarly
     situated, petition any court of competent jurisdiction for the removal of
     the Trustee and the appointment of a successor Trustee.

          (e)    If the Trustee shall resign, be removed or become incapable of
acting, or if a vacancy shall occur in the office of Trustee for any cause, the
Company, by a Board Resolution, shall promptly appoint a successor Trustee.  If,
within one year after such resignation, removal or incapability, or the
occurrence of such vacancy, a successor Trustee shall be appointed by Act of the
Holders of a majority in principal amount of the Outstanding Securities
delivered to the Company and the retiring Trustee, the successor Trustee so
appointed shall, forthwith upon its acceptance of such appointment, become the

                                      -66-

<PAGE>

successor Trustee and supersede the successor Trustee appointed by the Company.
If no successor Trustee shall have been so appointed by the Company or the
Holders and accepted appointment in the manner hereinafter provided, any Holder
who has been a bona fide Holder of a Security for at least 6 months may, on
behalf of himself and all others similarly situated, petition any court of
competent jurisdiction for the appointment of a successor Trustee.

          (f)    The Company shall give notice of each resignation and each
removal of the Trustee and each appointment of a successor Trustee to all
Holders in the manner provided in Section 106.  Each notice shall include the
name of the successor Trustee and the address of its Corporate Trust Office.

SECTION 611.     ACCEPTANCE OF APPOINTMENT BY SUCCESSOR.

          Every successor Trustee appointed hereunder shall execute, acknowledge
and deliver to the Company and to the retiring Trustee an instrument accepting
such appointment, and thereupon the resignation or removal of the retiring
trustee shall become effective and such successor Trustee, without any further
act, deed or conveyance, shall become vested with all the rights, powers, trusts
and duties of the retiring Trustee; but, on request of the Company or the
successor Trustee, such retiring Trustee shall, upon payment of its charges,
execute and deliver an instrument transferring to such successor Trustee all the
rights, powers and trusts of the retiring Trustee and shall duly assign,
transfer and deliver to such successor Trustee all property and money held by
such retiring Trustee hereunder.  Upon request of any such successor Trustee,
the Company shall execute any and all instruments for more fully and certainly
vesting in and confirming to such successor Trustee all such rights, powers and
trusts.

          No successor Trustee shall accept its appointment unless at the time
of such acceptance such successor Trustee shall be qualified and eligible under
this Article Six.

SECTION 612.     MERGER, CONVERSION, CONSOLIDATION OR SUCCESSION TO BUSINESS.

          Any corporation into which the Trustee may be merged or converted
or with which it may be consolidated, or any corporation resulting from any
merger, conversion or consolidation to which the Trustee shall be a party, or
any corporation succeeding to all or substantially all the corporate trust
business of the Trustee, shall be the successor of the Trustee hereunder,
provided such corporation shall be otherwise qualified and eligible under
this Article Six, without the execution or filing of any paper or any further
act on the part of any of the parties hereto.  In case any Securities shall
have been authenticated, but not delivered, by the Trustee then in office,
any successor by merger, conversion or consolidation to such authenticating
Trustee may adopt such

                                      -67-

<PAGE>

authentication and deliver the Securities so authenticated with the same
effect as if such successor Trustee had itself authenticated such Securities.

SECTION 613.     PREFERENTIAL COLLECTION OF CLAIMS AGAINST COMPANY.

          If and when the Trustee shall be or become a creditor, directly or
indirectly, secured or unsecured, of the Company (or any other obligor upon the
Securities), the Trustee shall be subject to the provisions of the Trust
Indenture Act regarding the collection of claims against the Company (or any
such other obligor).

SECTION 614.     APPOINTMENT OF AUTHENTICATING AGENT.

          The Trustee may appoint an Authenticating Agent or Agents which shall
be authorized to act on behalf of the Trustee to authenticate Securities issued
upon original issue and upon exchange, registration of transfer, partial
conversion or partial redemption or pursuant to Section 307, and Securities so
authenticated shall be entitled to the benefits of this Indenture and shall be
valid and obligatory for all purposes as if authenticated by the Trustee
hereunder.  Wherever reference is made in this Indenture to the authentication
and delivery of Securities by the Trustee or the Trustee's certificate of
authentication, such reference shall be deemed to include authentication and
delivery on behalf of the Trustee by an Authenticating Agent and a certificate
of authentication executed on behalf of the Trustee by an Authenticating Agent.
Each Authenticating Agent shall be acceptable to the Company and shall at all
times be a corporation organized and doing business under the laws of the United
States of America, any State thereof or the District of Columbia, authorized
under such laws to act as Authenticating Agent, having (or in the case of a
corporation included in a bank holding company system, the related bank holding
company having) a combined capital and surplus of not less than $50 million and
subject to supervision or examination by Federal or State authority. If such
Authenticating Agent publishes reports of condition at least annually, pursuant
to law or to the requirements of said supervising or examining authority, then
for the purposes of this Section, the combined capital and surplus of such
Authenticating Agent shall be deemed to be its combined capital and surplus as
set forth in its most recent report of condition so published.  If at any time
an Authenticating Agent shall cease to be eligible in accordance with the
provisions of this Section, such Authenticating Agent shall resign immediately
in the manner and with the effect specified in this Section 614.

          Any corporation into which an Authenticating Agent may be merged or
converted or with which it may be consolidated, or any corporation resulting
from any merger, conversion or consolidation to which such Authenticating Agent
shall be a party, or any corporation succeeding to the corporate agency or
corporate trust business of an Authenticating Agent, shall continue to be an
Authenticating Agent, provided such

                                      -68-

<PAGE>

corporation shall be otherwise eligible under this Section, without the
execution or filing of any paper or any further act on the part of the
Trustee or the Authenticating Agent.

          An Authenticating Agent may resign at any time by giving written
notice thereof to the Trustee and to the Company.  The Trustee may at any time
terminate the agency of an Authenticating Agent by giving written notice thereof
to such Authenticating Agent and to the Company.  Upon receiving such a notice
of resignation or upon such a termination, or in case at any time such
Authenticating Agent shall cease to be eligible in accordance with the
provisions of this Section 614, the Trustee may appoint a successor
Authenticating Agent which shall be acceptable to the Company and shall mail
written notice of such appointment by first-class mail, postage prepaid, to all
Holders as their names and addresses appear in the Security Register.  Any
successor Authenticating Agent upon acceptance of its appointment hereunder
shall become vested with all the rights, powers and duties of its predecessor
hereunder, with like effect as if originally named as an Authenticating Agent.
No successor Authenticating Agent shall be appointed unless eligible under the
provisions of this Section 614.

          The Trustee agrees to pay to each Authenticating Agent from time to
time reasonable compensation for its services under this Section 614, and the
Trustee shall be entitled to be reimbursed for such payments, subject to the
provisions of Section 607.

          If an appointment is made pursuant to this Section 614, the Securities
may have endorsed thereon, in addition to the Trustee's certificate of
authentication, an alternative certificate of authentication in the following
form:

          This is one of the Securities described in the within-mentioned
Indenture.

                        Norwest Bank Minnesota, National Association,
                           As Trustee

                        By:_______________________________________,
                               As Authenticating Agent

                        By:_______________________________________,
                               Authorized Officer

                                      -69-

<PAGE>

                                    ARTICLE SEVEN

                  HOLDERS' LISTS AND REPORTS BY TRUSTEE AND COMPANY

SECTION 701.     COMPANY TO FURNISH TRUSTEE NAMES AND ADDRESSES OF HOLDERS.

          The Company will furnish or cause to be furnished to the Trustee

          (a)    semi-annually, not more than 15 days after each Regular Record
     Date, a list, in such form as the Trustee may reasonably require, of the
     names and addresses of the Holders as of such Regular Record Date, and

          (b)    at such other times as the Trustee may request in writing,
     within 30 days after the receipt by the Company of any such request, a list
     of similar form and content as of a date not more than 15 days prior to the
     time such list is furnished;

EXCLUDING from any such list names and addresses received by the Trustee in
its capacity as Security Registrar.

SECTION 702.     PRESERVATION OF INFORMATION; COMMUNICATIONS TO HOLDERS.

          (a)    The Trustee shall preserve, in as current a form as is
reasonably practicable, the names and addresses of Holders contained in the
most recent list furnished to the Trustee as provided in Section 701 and the
names and addresses of Holders received by the Trustee in its capacity as
Security Registrar.  The Trustee may destroy any list furnished to it as
provided in Section 701 upon receipt of a new list so furnished.

          (b)    The rights of Holders to communicate with other Holders with
respect to their rights under this Indenture or under the Securities and the
corresponding rights and duties of the Trustee, shall be as provided by the
Trust Indenture Act.

          (c)    Every Holder of Securities, by receiving and holding the
same, agrees with the Company and the Trustee that neither the Company nor
the Trustee nor any agent of either of them shall be held accountable by
reason of any disclosure of information as to the names and addresses of
Holders made pursuant to the Trust Indenture Act.

                                      -70-
<PAGE>

SECTION 703.     REPORTS BY TRUSTEE.

          (a)    The Trustee shall transmit to the Holders such reports
required pursuant to the Trust Indenture Act as promptly as practicable after
each [__________] and beginning on [__________], or at such other time as may
be provided in the Trust Indenture Act, in the manner provided in the Trust
Indenture Act.

          (b)    A copy of each such report shall, at the time of such
transmission to Holders, be filed by the Trustee with each stock exchange
upon which the Securities are listed, with the Commission and with the
Company.  The Company will notify the Trustee when the Securities are listed
on any stock exchange.

SECTION 704.     REPORTS BY COMPANY.

          The Company shall file with the Commission, and provide to the
Trustee and the Holders, annual reports and such other information, documents
and other reports, and such summaries thereof, as may be required pursuant to
the Trust Indenture Act at the times and in the manner provided pursuant to
the Trust Indenture Act; PROVIDED that whether or not the Company is subject
to the reporting requirements of Section 13 or 15(d) of the Exchange Act, the
Company shall deliver to the Trustee and to each Holder, within 15 days after
it is or would have been required to file with the Commission, annual and
quarterly financial statements equivalent to financial statements that would
have been included in reports filed with the Commission if the Company were
subject to the requirements of Section 13 or 15(d) of the Exchange Act,
including, with respect to annual information only, a report thereon by the
Company's certified independent public accountants as such would be required
in such reports to the Commission, and in each case, together with a
management's discussion and analysis of financial condition and results of
operations which would be so required.

                                      -71-
<PAGE>

                                    ARTICLE EIGHT

                 CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE

SECTION 801.     COMPANY MAY CONSOLIDATE, ETC., ONLY ON CERTAIN TERMS.

          The Company (a) shall not consolidate with or merge into any other
Person; (b) shall not permit any other Person to consolidate with or merge
into the Company; and (c) shall not, directly or indirectly, transfer,
convey, sell, lease or otherwise dispose of all or substantially all of its
properties and assets to any Person; UNLESS, in any such transaction:

          (1)    immediately after giving effect to such transaction and
     treating any Indebtedness Incurred by the Company or a Restricted
     Subsidiary of the Company as a result of such transaction as having been
     Incurred by the Company or such Restricted Subsidiary at the time of such
     transaction, no Event of Default, and no event which, after notice or lapse
     of time, or both, would become an Event of Default, shall have occurred and
     be continuing;

          (2)    (x) the Company is the surviving entity or (y) in the case the
     Company shall consolidate with or merge into another Person or shall
     directly or indirectly transfer, convey, sell, lease or otherwise dispose
     of all or substantially all of its properties and assets as an entirety,
     the Person formed by such consolidation or into which the Company is merged
     or the Person which acquires by transfer, conveyance, sale, lease or other
     disposition all or substantially all of the properties and assets of the
     Company as an entirety (for purposes of this Article Eight, a "Successor
     Company") shall be a corporation, shall be organized and validly existing
     under the laws of the United States of America, any State thereof or the
     District of Columbia and shall expressly assume by an indenture
     supplemental hereto executed and delivered to the Trustee, in form
     satisfactory to the Trustee, the due and punctual payment of the principal
     of (and premium, if any) and interest on all the Securities and the
     performance of every covenant of this Indenture on the part of the Company
     to be performed or observed;

          (3)    immediately after giving effect to such transaction, the
     Consolidated Net Worth of the Company or, if applicable, the Successor
     Company is not less than 100% of the Consolidated Net Worth of the Company
     immediately prior to such transaction;

          (4)    immediately after giving effect to such transaction, and
     treating any Indebtedness Incurred by the Company or any Restricted
     Subsidiary as a result of such transaction as having been Incurred at the
     time of such transaction, the

                                      -72-
<PAGE>

     Company or the Successor Company would be permitted to Incur at least $1.00
     of additional Indebtedness pursuant to the first paragraph under Section
     1008; and

          (5)    the Company has delivered to the Trustee an Officers'
     Certificate and an Opinion of Counsel, each stating that such
     consolidation, merger, conveyance, transfer, lease or disposition and, if a
     supplemental indenture is required in connection with such transaction,
     such supplemental indenture, complies with this Article Eight and that all
     conditions precedent herein provided for relating to such transaction have
     been complied with, and, with respect to such Officers' Certificate,
     setting forth the manner of determination of the Consolidated Net Worth and
     the ability to Incur Indebtedness in accordance with clause (4) of Section
     801, the Company or, if applicable, of the Successor Company as required
     pursuant to the foregoing.

          However, clause (4) above will not apply if, in the good faith
determination of the Company's Board of Directors, whose determination shall
be evidenced by a Board Resolution, the principal purpose of the transaction
is to change the Company's state of incorporation and the transaction shall
not have as one of its purposes the evasion of the foregoing limitations.

SECTION 802.     SUCCESSOR SUBSTITUTED.

          Upon any consolidation of the Company with, or merger of the
Company into, any other Person or any transfer, conveyance, sale, lease or
other disposition of all or substantially all of the properties and assets of
the Company as an entirety in accordance with Section 801, the successor
Company shall succeed to, and be substituted for, and may exercise every
right and power of, the Company under this Indenture with the same effect as
if such successor Person had been named as the Company herein, and
thereafter, except in the case of a lease, the predecessor Person shall be
relieved of all obligations and covenants under this Indenture and the
Securities.

                                      -73-
<PAGE>

                                     ARTICLE NINE

                               SUPPLEMENTAL INDENTURES

SECTION 901.     SUPPLEMENTAL INDENTURES WITHOUT CONSENT OF HOLDERS.

          Without the consent of any Holders, the Company, when authorized by
a Board Resolution, and the Trustee, at any time and from time to time, may
enter into one or more indentures supplemental hereto, in form satisfactory
to the Trustee, for any of the following purposes:

          (1)    to evidence the succession of another Person to the Company and
     the assumption by any such successor of the covenants of the Company herein
     and in the Securities; or

          (2)    to add to the covenants of the Company for the benefit of the
     Holders, or to surrender any right or power herein conferred upon the
     Company; or

          (3)    to secure the Securities pursuant to the requirements of
     Section 1013 or otherwise; or

          (4)    to comply with any requirements of the Commission in order to
     effect and maintain the qualification of this Indenture under the Trust
     Indenture Act; or

          (5)    to cure any ambiguity, to correct or supplement any provision
     herein which may be inconsistent with any other provision herein, or to
     make any other provisions with respect to matters or questions arising
     under this Indenture which shall not be inconsistent with the provisions of
     this Indenture, PROVIDED such action pursuant to this Clause (5) shall not
     adversely affect the interests of the Holders in any material respect.

SECTION 902.     SUPPLEMENTAL INDENTURES WITH CONSENT OF HOLDERS.

          With the consent of the Holders of not less than a majority in
principal amount of the Outstanding Securities, by Act of said Holders
delivered to the Company and the Trustee, the Company, when authorized by a
Board Resolution, and the Trustee may enter into an indenture or indentures
supplemental hereto for the purpose of adding any provisions to or changing
in any manner or eliminating any of the provisions of this Indenture or of
modifying in any manner the rights of the Holders under this Indenture;

                                      -74-
<PAGE>

PROVIDED, HOWEVER, that no such supplemental indenture shall, without the
consent of the Holder of each Outstanding Security affected thereby,

          (1)    change the Stated Maturity of the principal of, or any
     installment of interest on, any Security, or reduce the principal amount
     thereof or the rate of interest thereon or any premium payable thereon, or
     change the place of payment where, or the coin or currency in which, the
     principal of, or any premium or the interest on any Security is payable, or
     impair the right to institute suit for the enforcement of any such payment
     on or with respect to any Security (or, in the case of redemption, on or
     after the Redemption Date or, in the case of an Offer to Purchase which has
     been made, on or after the applicable Purchase Date), or

          (2)    reduce the percentage in aggregate principal amount of the
     Outstanding Securities, the consent of whose Holders is required to amend
     this Indenture or for any such supplemental indenture, or the consent of
     whose Holders is required for any waiver (of compliance with certain
     provisions of this Indenture or certain defaults hereunder and their
     consequences) provided for in this Indenture, or

          (3)    modify any of the provisions of this Section 902, Section 513
     or Section 1019, except to increase any percentage specified in any such
     provision or to provide that certain other provisions of this Indenture
     cannot be modified or waived without the consent of the Holder of each
     Outstanding Security affected thereby, or

          (4)    modify any of the provisions of this Indenture relating to the
     subordination of the Securities in a manner adverse to the Holders, or

          (5)    following the mailing of an Offer with respect to an Offer to
     Purchase pursuant to Section 1015 or 1017, modify the provisions of this
     Indenture with respect to such Offer to Purchase in a manner adverse to
     such Holder, or

          (6)    modify any of the provisions of Section 1010.

          Notice shall be given to all Holders and the Trustee at least 10
Business Days prior to the adoption of any proposed amendment pursuant to
this Section 902.  It shall not be necessary for any Act of Holders under
this Section 902 to approve the particular form of any proposed supplemental
indenture, but it shall be sufficient if such Act shall approve the substance
thereof.

                                      -75-
<PAGE>

SECTION 903.     EXECUTION OF SUPPLEMENTAL INDENTURES.

          In executing, or accepting the additional trusts created by, any
supplemental indenture permitted by this Article Nine or the modifications
thereby of the trusts created by this Indenture, the Trustee shall be
entitled to receive, and (subject to Section 601) shall be fully protected in
relying upon, an Opinion of Counsel stating that the execution of such
supplemental indenture is authorized pursuant to, is permitted by, and that
all conditions precedent have been met under, this Indenture.  The Trustee
may, but shall not be obligated to, enter into any such supplemental
indenture which affects the Trustee's own rights, duties or immunities under
this Indenture or otherwise.

SECTION 904.     EFFECT OF SUPPLEMENTAL INDENTURES.

          Upon the execution of any supplemental indenture under this Article
Nine, this Indenture shall be modified in accordance therewith, and such
supplemental indenture shall form a part of this Indenture for all purposes
and every Holder of Securities theretofore or thereafter authenticated and
delivered hereunder shall be bound thereby.  No such supplemental indenture
shall directly or indirectly modify the provisions of Article Twelve in any
manner which might terminate or impair the rights of the Senior Indebtedness
pursuant to such subordination provisions.

SECTION 905.     CONFORMITY WITH TRUST INDENTURE ACT.

          Every supplemental indenture executed pursuant to this Article Nine
shall conform to the requirements of the Trust Indenture Act.

SECTION 906.     REFERENCE IN SECURITIES TO SUPPLEMENTAL INDENTURES.

          Securities authenticated and delivered after the execution of any
supplemental indenture pursuant to this Article Nine may bear a notation in
form approved by the Trustee as to any matter provided for in such
supplemental indenture.  If the Company shall so determine, new Securities so
modified as to conform, in the opinion of the Trustee and the Company, to any
such supplemental indenture may be prepared and executed by the Company and
authenticated and delivered by the Trustee in exchange for Outstanding
Securities.

                                      -76-
<PAGE>

SECTION 907.     NOTICE OF SUPPLEMENTAL INDENTURE.

          Promptly after the execution by the Company and the Trustee of any
supplemental indenture pursuant to Section 902, the Company shall transmit to
the Holders a notice setting forth the substance of such supplemental
indenture.

                                      -77-

<PAGE>

                                     ARTICLE TEN

                                      COVENANTS

SECTION 1001.    PAYMENT OF PRINCIPAL, PREMIUM AND INTEREST.

          The Company will duly and punctually pay the principal of (and
premium, if any) and interest on the Securities in accordance with the terms
of the Securities and this Indenture.

SECTION 1002.    MAINTENANCE OF OFFICE OR AGENCY.

          The Company will maintain in the Borough of Manhattan, New York
City, an office or agency where Securities may be presented or surrendered
for payment, where Securities may be surrendered for registration of transfer
or exchange and where notices and demands to or upon the Company in respect
of the Securities and this Indenture may be served.  The Company will give
prompt written notice to the Trustee of the location, and any change in the
location, of such office or agency.  If at any time the Company shall fail to
maintain any such required office or agency or shall fail to furnish the
Trustee with the address thereof, such presentations, surrenders, notices and
demands may be made or served at the Corporate Trust Office of the Trustee,
and the Company hereby appoints the Trustee as its agent to receive all such
presentations, surrenders, notices and demands.

          The Company may also from time to time designate one or more other
offices or agencies (in or outside the Borough of Manhattan, New York City)
where the Securities may be presented or surrendered for any or all such
purposes and may from time to time rescind such designations; PROVIDED,
HOWEVER, that no such designation or rescission shall in any manner relieve
the Company of its obligation to maintain an office or agency in the Borough
of Manhattan, New York City, for such purposes.  The Company will give prompt
written notice to the Trustee of any such designation or rescission and of
any change in the location of any such other office or agency.

                                        -78-

<PAGE>

SECTION 1003.    MONEY FOR SECURITY PAYMENTS TO BE HELD IN TRUST.

          If the Company shall at any time act as its own Paying Agent, it
will (subject to the right to pay interest in Additional Securities pursuant
to Section 301), on or before each due date of the principal of (and premium,
if any) or interest on any of the Securities segregate and hold in trust for
the benefit of the Persons entitled thereto a sum sufficient to pay the
principal (and premium, if any) or interest so becoming due until such sums
shall be paid to such Persons or otherwise disposed of as herein provided and
will promptly notify the Trustee of its action or failure so to act.

          Whenever the Company shall have one or more Paying Agents, other
than the Company, it will (subject to the right to pay interest in Additional
Securities pursuant to Section 301), prior to each due date of the principal
of (and premium, if any) or interest on any Securities, deposit to such
Paying Agent a sum sufficient to pay the principal (and premium, if any) or
interest so becoming due, such sum to be held in trust for the benefit of the
Persons entitled to such principal, premium or interest, and (unless such
Paying Agent is the Trustee) the Company will promptly notify the Trustee of
its action or failure so to act.

          The Company will cause each Paying Agent other than the Trustee to
execute and deliver to the Trustee an instrument in which such Paying Agent
shall agree with the Trustee, subject to the provisions of this Section 1003,
that such Paying Agent will:

          (1)    hold all sums held by it for the payment of the principal of
     (and premium, if any) or interest on Securities in trust for the benefit of
     the Persons entitled thereto until such sums shall be paid to such Persons
     or otherwise disposed of as herein provided;

          (2)    give the Trustee notice of any default by the Company (or any
     other obligor upon the Securities) in the making of any payment of
     principal (and premium, if any) or interest; and

          (3)    at any time during the continuance of any such default, upon
     the written request of the Trustee, forthwith pay to the Trustee all sums
     so held in trust by such Paying Agent.

          The Company may at any time, for the purpose of obtaining the
satisfaction and discharge of this Indenture or for any other purpose, pay,
or by Company Order direct any Paying Agent to pay, to the Trustee all sums
held in trust by the Company or such Paying Agent, such sums to be held by
the Trustee upon the same trusts

                                        -79-

<PAGE>

as those upon which such sums were held by the Company or such Paying Agent;
and, upon such payment by any Paying Agent to the Trustee, such Paying Agent
shall be released from all further liability with respect to such sums.

          Any money deposited with the Trustee or any Paying Agent, or then
held by the Company, in trust for the payment of the principal of (and
premium, if any) or interest on any Security and remaining unclaimed for two
years after such principal (and premium, if any) or interest has become due
and payable shall be paid to the Company on Company Request, or (if then held
by the Company) shall be discharged from such trust; and the Holder of such
Security shall thereafter, as an unsecured general creditor, look only to the
Company for payment thereof, and all liability of the Trustee or such Paying
Agent with respect to such trust money, and all liability of the Company as
trustee thereof, shall thereupon cease; PROVIDED, HOWEVER, that the Trustee
or such Paying Agent, before being required to make any such repayment, may
at the expense of the Company cause to be published once, in a newspaper
published in the English language, customarily published on each Business Day
and of general circulation in New York City, notice that such money remains
unclaimed and that, after a date specified therein, which shall not be less
than 30 days from the date of such publication, any unclaimed balance of such
money then remaining will be repaid to the Company.

SECTION 1004.    EXISTENCE.

          Subject to Article Eight, the Company will do or cause to be done
all things necessary to preserve and keep in full force and effect its
existence, rights (charter and statutory) and franchises; PROVIDED, HOWEVER,
that the Company shall not be required to preserve any such right or
franchise if the Board of Directors of the Company in good faith shall
determine that the preservation thereof is no longer desirable in the conduct
of the business of the Company and that the loss thereof is not
disadvantageous in any material respect to the Holders.

SECTION 1005.    MAINTENANCE OF PROPERTIES.

          The Company will cause all properties used or useful in the conduct
of its business or the business of any Restricted Subsidiary of the Company
to be maintained and kept in good condition, repair and working order and
supplied with all necessary equipment and will cause to be made all necessary
repairs, renewals, replacements, betterments and improvements thereof, all as
in the judgment of the Company may be necessary so that the business carried
on in connection therewith may be properly and advantageously conducted at
all times; PROVIDED, HOWEVER, that nothing in this Section

                                        -80-

<PAGE>

shall prevent the Company from discontinuing the operation or maintenance of
any of such properties if such discontinuance is, as determined by the Board
of Directors of the Company in good faith, desirable in the conduct of its
business or the business of any such Restricted Subsidiary and not
disadvantageous in any material respect to the Holders.

SECTION 1006.    PAYMENT OF TAXES AND OTHER CLAIMS.

          The Company will pay or discharge or cause to be paid or
discharged, before the same shall become delinquent, (l) all taxes,
assessments and governmental charges levied or imposed upon the Company or
any of its Restricted Subsidiaries or upon the income, profits or property of
the Company or any of its Restricted Subsidiaries, and (2) all lawful claims
for labor, materials and supplies which, if unpaid, might by law become a
lien upon the property of the Company or any of its Restricted Subsidiaries;
PROVIDED, HOWEVER, that the Company shall not be required to pay or discharge
or cause to be paid or discharged any such tax, assessment, charge or claim
whose amount, applicability or validity is being contested in good faith by
appropriate proceedings.

SECTION 1007.    MAINTENANCE OF INSURANCE.

          The Company shall, and shall cause its Restricted Subsidiaries to,
keep at all times all of their properties which are of an insurable nature
insured against loss or damage with insurers believed by the Company to be
responsible to the extent that property of similar character is usually so
insured by corporations similarly situated and owning like properties in
accordance with good business practice.

SECTION 1008.    LIMITATION ON CONSOLIDATED INDEBTEDNESS.

          The Company shall not, and shall not permit its Restricted
Subsidiaries to, Incur any Indebtedness, except that the Company may Incur
Indebtedness if  (x) there exists no Event of Default or  an event which with
notice or lapse of time or both would become an Event of Default immediately
prior and subsequent thereto, and (y) after giving effect thereto, the
Company's Annualized Operating Cash Flow Ratio on a pro forma basis
(calculated on the assumption that such Indebtedness had been incurred on the
first day of the applicable Reference Period), would have been less than:

                                        -81-

<PAGE>

<TABLE>
<CAPTION>

                       FOR THE PERIOD                   RATIO
                       --------------                   -----
<S>                                                  <C>
                Prior to July 1, 2001 . . . . .      9.0 to 1.0;

                Thereafter  . . . . . . . . . .      8.0 to 1.0.

</TABLE>

          Notwithstanding the foregoing paragraph, the Company and/or any
Restricted Subsidiary of the Company may Incur the following Indebtedness
without regard to the foregoing limitations (PROVIDED that, if there exists
an Event of Default pursuant to clauses (1), (2), (3), (8) or (9) of Section
501 or an event which with notice or lapse of time or both would become an
Event of Default pursuant to clauses (1), (2), (3), (8) or (9) of Section 501
immediately prior and subsequent thereto, the Company and/or any Restricted
Subsidiary of the Company, may without regard to the foregoing limitations,
only Incur the Indebtedness described in the following clauses (iii), (iv)
and (xii)):

          (i)    Indebtedness evidenced by the Securities on the Exchange Date
     and  Securities issued after the Exchange Date in lieu of cash interest as
     described in Section 301;

          (ii)   Indebtedness Incurred under the New Credit Facility provided
     that the amount of Indebtedness Incurred under the New Credit Facility and
     any other credit facilities similar in type to the New Credit Facility does
     not exceed in an aggregate principal amount $1.375 billion at any time
     outstanding, reduced by repayments and permanent reductions thereof due to
     application of (1) Net Cash Proceeds (as defined in the indenture governing
     the Senior Subordinated Notes) as set forth in the "--Limitation on Asset
     Sales and Sales of Subsidiary Stock" covenant set forth in the Senior Notes
     Indenture; or (2) Net Cash Proceeds (as defined in the Senior Exchange
     Indenture) as set forth in the "--Limitation on Asset Sales and Sales of
     Subsidiary Stock" covenant set forth in the Senior Exchange Indenture;

          (iii)  Indebtedness of the Company or any Restricted Subsidiary of the
     Company owing to the Company or any Restricted Subsidiary of the Company
     ("Intercompany Indebtedness"); PROVIDED that (A) in the case of any such
     Indebtedness of the Company, such obligations shall be unsecured and
     subordinated in all respects to the Holders' rights pursuant to the
     Securities to the same extent as the Securities are subordinated to Senior
     Indebtedness  and (B) if any event occurs that causes a Restricted
     Subsidiary to no longer be a Restricted Subsidiary,  then this Clause (iii)
     shall no longer be applicable to such Indebtedness of that Restricted
     Subsidiary;

                                        -82-

<PAGE>

          (iv)   Indebtedness of the Company or any Restricted Subsidiary of the
     Company to renew, extend, refinance or refund any Indebtedness of the
     Company or such Restricted Subsidiary outstanding or committed on the date
     of renewal, extension, refinancing or refunding other than Indebtedness
     Incurred pursuant to clause (ii) or (iii); PROVIDED, HOWEVER, that such
     Indebtedness does not exceed the principal amount of outstanding or
     committed Indebtedness so renewed, extended, refinanced or refunded plus
     premiums, accrued dividends, accrued interest, financing fees and other
     expenses associated therewith; and PROVIDED FURTHER, HOWEVER, that (a) such
     renewing, extending, refinancing or refunding Indebtedness shall not have a
     final maturity and shall not have any other mandatory repayments or
     redemptions prior to or in amounts greater than those of the Indebtedness
     being renewed, extended, refinanced or refunded, (b) in the case of any
     refinancing or refunding of Indebtedness that ranks PARI PASSU in right of
     payment to the Securities, the refinancing or refunding Indebtedness ranks
     PARI PASSU or is subordinated in right of payment to the Securities, and,
     in the case of any refinancing or refunding of Indebtedness subordinated to
     the Securities, the refinancing or refunding Indebtedness ranks subordinate
     in right of payment to the Securities to substantially the same extent as
     the Indebtedness refinanced or refunded and (c) no Restricted Subsidiary of
     the Company shall be permitted to refinance any Indebtedness of the Company
     this clause (iv) except that any Restricted Subsidiary may guarantee
     Indebtedness incurred under this clause (iv) if such restricted subsidiary
     had guaranteed the Indebtedness refinanced under this clause (iv);

          (v)    Indebtedness Incurred by the Company or any Restricted
     Subsidiary of the Company under Interest Hedge Agreements to hedge interest
     on permitted Indebtedness, PROVIDED that the notional principal amount of
     any such Interest Hedge Agreements does not exceed the principal amount of
     Indebtedness to which such Interest Hedge Agreements relate;

          (vi)   (1) Indebtedness of any of the Company's Restricted
     Subsidiaries (excluding Indebtedness of Wireless Alliance, if it becomes a
     Restricted Subsidiary, incurred pursuant to clause (vi)(2) below), which
     does not exceed $75 million in the aggregate for all such Restricted
     Subsidiaries at any time outstanding (excluding any Intercompany
     Indebtedness or Acquired Indebtedness permitted to be Incurred under this
     Indenture), PROVIDED that after giving effect thereto on a pro forma basis
     the Company's Annualized Operating Cash Flow Ratio is less than, prior to
     July 1, 2001, 9.0 to 1.0 and thereafter, 8.0 to 1.0 and the Adjusted
     Annualized Operating Cash Flow Ratio of such Restricted Subsidiary is less
     than 5.0 to 1.0; and

                                        -83-

<PAGE>

                 (2) if it becomes the Company's Restricted Subsidiary,
     Indebtedness of Wireless Alliance (excluding any Intercompany Indebtedness
     or Acquired Indebtedness permitted to be Incurred under this Indenture)
     which does not exceed $75.0 million in the aggregate at any time
     outstanding, PROVIDED that after giving effect thereto on a pro forma basis
     the Company's Annualized Operating Cash Flow Ratio is less than, prior to
     July 1, 2001, 9.0 to 1.0, and, thereafter 8.0 to 1.0, and the Adjusted
     Annualized Operating Cash Flow Ratio of such Restricted Subsidiary is less
     than 5.0 to 1.0;

          (vii)  any guarantee by any Restricted Subsidiary of any Indebtedness
     Incurred under the Credit Facility in compliance with this Section 1008;

          (viii) Acquired Indebtedness, PROVIDED that on a pro forma basis after
     giving effect to the Incurrence of such Indebtedness, the Company shall be
     able to Incur $1.00 of additional Indebtedness pursuant to the provisions
     described under the first paragraph of this Section 1008;

          (ix)   Indebtedness in respect of performance, surety or appeal bonds
     provided in the ordinary course of business and (1) Indebtedness
     constituting reimbursement obligations with respect to letters of credit
     issued in ordinary course of business in respect of workers' compensation
     claims and (2) self-insurance of other Indebtedness issued in the ordinary
     course of business with respect to reimbursement type obligations regarding
     workers' compensation claims;

          (x)    Indebtedness arising from agreements providing for
     indemnification, adjustment of purchase price or similar obligations, or
     from guarantees or letters of credit, surety bonds or performance bonds
     securing any of the Company's or any Restricted Subsidiary's obligations
     pursuant to such agreements, in any case Incurred in connection with the
     disposition of any of the Company's or any Restricted Subsidiary's
     business, assets or (other than guarantees of Indebtedness Incurred by any
     Person acquiring all or any portion of such business, assets or Restricted
     Subsidiary for the purpose of financing such acquisition), in an amount not
     to exceed the gross proceeds actually received by the Company or any
     Restricted Subsidiary in connection with such disposition;

          (xi)   Indebtedness (including Capital Lease Obligations) Incurred to
     finance the cost (including the cost of design, development, construction,
     installation or integration) of telecommunications network assets,
     equipment or inventory acquired by the Company or any of our Restricted
     Subsidiaries, which,

                                        -84-

<PAGE>

     in the aggregate does not exceed $15.0 million at any time outstanding or
     committed; and

          (xii)  the Company's or any Restricted Subsidiary's Indebtedness which
     does not exceed $75.0 million at any time outstanding.

          For purposes of determining any particular amount of Indebtedness
under this Section, (i) guarantees, Liens or obligations with respect to
letters of credit or other similar instruments supporting Indebtedness
otherwise included in the determination of such particular amount shall not
be included, and (ii) any Liens securing the Securities granted pursuant to
the equal and ratable provisions referred to under Section 1013 shall not be
treated as giving rise to Indebtedness.

          For purposes of determining compliance with this Section, in the
event that an item of Indebtedness meets the criteria of more than one of the
types of Indebtedness described in the above clauses (other than Indebtedness
referred to in clause (ii) above), the Company, in its sole discretion, shall
classify, and from time to time may reclassify (including under the first
paragraph of this Section 1008), such item of Indebtedness and only be
required to include the amount and type of such Indebtedness in one of such
clauses (or paragraph).

          The accrual of interest or dividends or the accretion of accreted
value will not be deemed an incurrence of Indebtedness for the purposes of
this Section.

SECTION 1009.    LIMITATION ON PREFERRED STOCK OF RESTRICTED SUBSIDIARIES.

          The Company shall not permit any Restricted Subsidiary of the
Company to create or issue any Preferred Stock except:

          (i)    Preferred Stock outstanding on the Exchange Date;

          (ii)   Preferred Stock issued to and held by the Company or any
     Restricted Subsidiary (PROVIDED that, if such Restricted Subsidiary is not
     a Wholly Owned Restricted Subsidiary, the portion of the liquidation value
     of such Preferred Stock equal to the product of (1) the percentage of the
     common equity interest of such Restricted Subsidiary that is not owned,
     directly or indirectly, by the Company and (2) the aggregate liquidation
     value of such Preferred Stock must be permitted to be issued pursuant to
     clause (v) below);

                                        -85-

<PAGE>

          (iii)  Preferred Stock issued by a Person prior to the time such
     Person became a direct or indirect Restricted Subsidiary of the Company;

          (iv)   Preferred Stock issued by a Restricted Subsidiary the proceeds
     of which are used to refinance outstanding Preferred Stock of a Restricted
     Subsidiary, PROVIDED that (a) the liquidation value of the refinancing
     Preferred Stock does not exceed the liquidation value so refinanced plus
     financing fees and other expenses associated with such refinancing and (b)
     such refinancing Preferred Stock has no mandatory redemptions prior to (and
     in no greater amounts than) the Preferred Stock being refinanced; and

          (v)    Preferred Stock issued by a Restricted Subsidiary to the extent
     such a Preferred Stock, together with all other Indebtedness of each
     Restricted Subsidiary could be incurred pursuant to clause (vi) or (xii) of
     Section 1008 above.

SECTION 1010.    LIMITATION ON CERTAIN INDEBTEDNESS.

          The Company shall not Incur any Indebtedness that is subordinate in
right of payment to any other Indebtedness of the Company unless the
Indebtedness so Incurred is either PARI PASSU or subordinate in right of
payment to the Securities.  For the avoidance of doubt, the foregoing
limitations will not apply to distinctions between categories of the
Company's Senior Indebtedness that exist by reason of Liens or guarantees
arising or created in respect of some but not all of such Senior Indebtedness.

SECTION 1011.    LIMITATION ON RESTRICTED PAYMENTS.

          The Company shall not, and shall not permit any Restricted
Subsidiary of the Company to, make any Restricted Payments, unless after
giving effect thereto:

          (1)    no Event of Default or event that with notice or lapse of time
     or both would become an Event of Default shall have occurred and is
     continuing;

          (2)    the Company would be permitted to Incur an additional $1.00 of
     Indebtedness pursuant to the first paragraph of Section 1008; and

          (3)    the aggregate of all Restricted Payments made on or after July
     1, 1998 does not exceed the sum of

                                        -86-

<PAGE>

                 (A)    Cumulative Operating Cash Flow less 1.75 times
          Cumulative Interest Expense;

                 (B)    100% of the aggregate Qualified Capital Stock Proceeds
          of the Company after July 1, 1998; and

                 (C)    an amount equal to the sum of (1) the net reduction in
          Investments (other than reductions in Permitted Investments) in any
          Person resulting from payments of interest on Indebtedness, dividends,
          repayments of loans or advances, or other transfers of assets, in each
          case to the Company or any Restricted Subsidiary or from the Net Cash
          Proceeds from the sale of any such Investments (except, in each case,
          to the extent any such proceeds or other amounts are included in the
          calculation of Consolidated Net Income) and (2) the portion
          (proportionate to the Company's direct or indirect equity interest in
          such Subsidiary) or the Fair Market Value of the net assets of an
          Unrestricted Subsidiary at the time such Unrestricted Subsidiary is
          designated a Restricted Subsidiary; PROVIDED, HOWEVER, that the
          foregoing sum shall not exceed, in the case of any Person (including
          any Unrestricted Subsidiary), the amount of Investments previously
          made (and treated as a Restricted Payment) by the Company or any
          Restricted Subsidiary in such Person.

          The foregoing provision shall not be violated, so long as no Event
of Default or event which with notice or lapse of time or both would become
an Event of Default has occurred and is continuing (other than in the case of
clause (ii)), by reason of

          (i)    the payment of any dividend within 60 days after declaration
     thereof if at the declaration date such payment would have complied with
     the foregoing provision;

          (ii)   any refinancing of any Indebtedness otherwise permitted under
     clause (ii) or (iv) of Section 1008;

          (iii)  the purchase, redemption or other acquisition or retirement for
     value of shares of Capital Stock of any Restricted Subsidiary held by
     Persons other than the Company or any of its Restricted Subsidiaries;

          (iv)   the redemption, defeasance, repurchase or other acquisition or
     retirement of any Capital Stock of the Company or any Subordinated
     Indebtedness prior to its scheduled maturity either in exchange for or out
     of the net cash

                                        -87-

<PAGE>

     proceeds of the substantially concurrent sale (other than to a Subsidiary
     of the Company) of Qualified Capital Stock of the Company;

          (v)    the purchase, redemption, acquisition, cancellation or other
     retirement for value of shares of the Company's Junior Stock to the extent
     necessary in the good faith judgment of the Company's Board of Directors
     (evidenced by the vote of a majority of the disinterested members) to
     prevent the loss or secure the renewal or reinstatement of any license or
     franchise held by the Company or any Restricted Subsidiary from any
     governmental agency that is deemed material to the Company or any
     Restricted Subsidiary, as the case may be, by the Company's Board of
     Directors;

          (vi)   the purchase, redemption, retirement or other acquisition for
     value of shares of the Company's Junior Stock, or options, warrants or
     other rights to purchase such shares, held by the Company's directors,
     employees or former directors or employees or of any of the Company's
     Restricted Subsidiaries, or their estates or beneficiaries under their
     estates, upon death, disability, retirement, termination of employment or
     pursuant to the terms of any agreement under which such shares of Junior
     Securities or options, warrants or other rights were issued, but only if
     the aggregate consideration paid for such purchase, redemption,
     acquisitions, cancellation or other retirement of such shares of Junior
     Stock or options, warrants or other rights after the Issue Date does not
     exceed (1) $2.0 million in any calendar year (PROVIDED that unused amounts
     may be carried over to succeeding 12 month periods, subject to a maximum
     aggregate carryover of $2.0 million), (2) plus the aggregate net cash
     proceeds received by us during that calendar year from any reissuance of
     the Company's Qualified Capital Stock to its directors and employees and
     its Restricted Subsidiaries' directors and employees (PROVIDED that the
     amount of any such net cash proceeds that are used to permit a purchase,
     redemption, retirement or other acquisition for value pursuant to this
     clause (vi) shall be excluded from clause (ii) of the preceding paragraph);
     and

          (vii)  Restricted Payments, in addition to Restricted Payments
     permitted pursuant to clauses (i) through (vi) above, not in excess of
     $25.0 million in the aggregate after the Issue Date.  The payments
     described in clauses (i), (iv) (provided the proceeds of the sale of the
     Qualified Capital Stock referred to in such Clause constitute Qualified
     Capital Stock Proceeds), (v), (vi) and (vii) of this paragraph shall
     constitute Restricted Payments for the calculation under the first
     paragraph of this Section 1011.

                                        -88-

<PAGE>

SECTION 1012.    LIMITATIONS CONCERNING DISTRIBUTIONS AND TRANSFERS BY
                 RESTRICTED SUBSIDIARIES.

          The Company shall not, and shall not permit any Restricted
Subsidiary of the Company to, create or otherwise cause or suffer to exist or
become effective any consensual restriction or prohibition on the ability of
any Restricted Subsidiary of the Company to (i) pay, directly or indirectly,
dividends on, or make any other distributions in respect of, its Capital
Stock, or any other ownership interest or participation in, or measured by,
its profits, to the Company or any Restricted subsidiary of the Company or
pay any Indebtedness or other obligation owed to the Company or any
Restricted Subsidiary of the Company; (ii) make loans or advances to the
Company or any Restricted Subsidiary of the Company; or (iii) transfer any of
its property or assets to the Company or any Restricted Subsidiary of the
Company.

          Notwithstanding the foregoing, the Company may, and may permit any
Restricted Subsidiary to, suffer to exist any such restriction or
prohibition: (a) pursuant to this Indenture, the Credit Facility, the
certificate of designation governing the Senior Preferred Stock or the
indenture governing the Senior Exchange Debentures contemplated thereunder or
any other agreement in effect on the Exchange Date; (b) pursuant to an
agreement relating to any Indebtedness of such Restricted Subsidiary which
was outstanding or committed prior to the date on which such Restricted
Subsidiary became a Restricted Subsidiary of the Company other than in
anticipation of becoming a Restricted Subsidiary, PROVIDED that such
restriction or prohibition shall not apply to any property or assets of the
Company or any Restricted Subsidiary other than the property or assets of
such Restricted Subsidiary and its Subsidiaries; (c) pursuant to an agreement
effecting a renewal, extension, refinancing or refunding of any agreement
described in clauses (a) and (b) above, PROVIDED, HOWEVER, that the
provisions contained in such renewal, extension, refinancing or refunding
agreement relating to such restriction or prohibition are no more restrictive
in any material respect than the provisions contained in the agreement which
is the subject thereof; (d) existing under or by reason of applicable law,
(e) customary provisions restricting subletting or assignment of any lease
governing any leasehold interest of any Restricted Subsidiary; (f) purchase
money obligations for property acquired in the ordinary course of business
that impose restrictions of the type referred to in Clause (iii) of this
Section 1012; (g) restrictions of the type referred to in Clause (iii) of
this Section 1012 contained in  security agreements securing Indebtedness of
a Restricted Subsidiary of the Company to the extent that such Liens were
otherwise Incurred in accordance with Section 1013 and restrict the transfer
of property subject to such agreements; (h) customary provisions in joint
venture agreements and other similar agreements entered into in the ordinary
course of business, or (i) pursuant to contracts with respect solely to a
Restricted Subsidiary which have been entered into for the sale or
disposition of Capital Stock or assets of such Restricted Subsidiary
(PROVIDED that (1) such

                                        -89-

<PAGE>

restriction or prohibition applies solely to the Capital Stock or assets of
such Restricted Subsidiary which are being sold, (2) immediately after giving
effect to the transactions contemplated by such contract, no Event of Default
or circumstance which with notice or lapse of time or both would become a
Event of Default would exist and (3) such restriction or prohibition is
terminated on the earlier of the date the transactions contemplated by such
contract are consummated or the first anniversary of the date of such
contract).

SECTION 1013.    LIMITATIONS ON LIENS.

          The Company shall not, and shall not permit any Restricted
Subsidiary of the Company to, Incur or suffer to exist any Lien on or with
respect to any property or assets now owned or hereafter acquired to secure
any Indebtedness that ranks in right of payment PARI PASSU with or
subordinate to the Securities without making, or causing such Restricted
Subsidiary to make, effective provision for securing the Securities (i)
equally and ratably with such Indebtedness as to such property for so long as
such Indebtedness will be so secured or (ii) in the event such Indebtedness
is Indebtedness of the Company or a Restricted Subsidiary which is
subordinate in right of payment to the Securities prior to such Indebtedness
as to such property for so long as such Indebtedness will be so secured.

          The foregoing restrictions shall not apply to:

          (a)    Liens existing in respect of any Indebtedness that exist on
the Exchange Date;

          (b)    Liens in favor of the Company or Liens in favor of a Wholly
Owned Restricted Subsidiary of the Company on the assets or Capital Stock of
another Wholly Owned Restricted Subsidiary of the Company;

          (c)    Liens to secure Indebtedness outstanding or committed for
the purpose of financing all or any part of the purchase price or the cost of
construction or improvement of the equipment or other property subject to
such Liens; PROVIDED, HOWEVER, that (I) the principal amount of any
Indebtedness secured by such a Lien does not exceed 100% of such purchase
price or cost, (II) such Lien does not extend to or cover any property other
than such item of property or any improvements on such item and (III) the
Incurrence of such Indebtedness is otherwise permitted by this Indenture;

          (d)    Liens on property existing immediately prior to the time of
acquisition thereof (and not Incurred in anticipation of the financing of
such acquisition);

                                        -90-

<PAGE>

          (e)    Liens to secure Indebtedness to extend, renew, refinance or
refund (or successive extensions, renewals, refinancings or refundings), in
whole or in part, Indebtedness secured by any Lien referred to in the
foregoing clauses (a), (c) and (d) so long as such Lien does not extend to
any other property and the principal amount of Indebtedness so secured is not
increased except as otherwise permitted under clause (ii) or (iv) of Section
1008;

          (f)    Liens on any Permitted Investment in Cooperative Bank Equity
in favor of any Cooperative Banks;

          (g)    Liens securing letters of credit entered into in the
ordinary course of business and consistent with past business practice; or

          (h)    any other Liens in respect of any Indebtedness, which
Indebtedness does not exceed $1 million in the aggregate.

SECTION 1014.    LIMITATION ON TRANSACTIONS WITH AFFILIATES AND RELATED PERSONS.

          The Company shall not, and shall not permit any Restricted
Subsidiary of the Company to, enter into any transaction or series of related
transactions involving aggregate consideration (a) up to $1 million,
including, without limitation, any purchase, sale, lease or exchange of
property or the rendering of any service, with or to any Affiliate or Related
Person of the Company (other than a Restricted Subsidiary), unless management
of the Company determines in good faith that (i) such transaction is in the
best interests of the Company or such Restricted Subsidiary and (ii) such
transaction is on terms that are no less favorable to the Company or such
Restricted Subsidiary than those which might be obtained in arm's-length
transactions with a third party at the time; (b) in excess of $1 million but
not exceeding $5.0 million, unless the Company's management makes the
determinations (which determinations will be evidenced by an Officers'
Certificate) set forth in clause (a) of this paragraph; and (c) in excess of
$5 million unless a majority of the disinterested members of the Company's
Board of Directors makes the determinations (which determinations will be
evidenced by a Board Resolution) set forth in clause (a) of this paragraph.

          Notwithstanding the foregoing, the following payments shall not be
subject to the provisions described in the first paragraph of this Section:
(i) payment of customary fees and indemnity payments to the Company's
directors who are not employees and the payment of compensation and indemnity
payments to the Company's officers, in each case, in the ordinary course of
business; and (ii) Restricted Payments made in compliance with the provisions
of the Certificate of Designation described under Section 1011.

                                        -91-

<PAGE>

SECTION 1015.    LIMITATION ON ASSET SALES AND SALES OF SUBSIDIARY STOCK.

                 The Company shall not, and shall not permit any Restricted
Subsidiary of the Company to, in one transaction or a series of related
transactions, convey, sell, transfer, assign or otherwise dispose of, directly
or indirectly, any of its property, business or assets, including any sale or
other transfer or issuance of any Capital Stock of any Restricted Subsidiary of
the Company, whether owned on the Exchange Date or thereafter acquired (an
"Asset Sale") unless (a) such Asset Sale is for Fair Market Value, (b) at least
80% of the value of the consideration for such Asset Sale consists of (i) cash,
(ii) the assumption by the transferee (and release of the Company or Subsidiary,
as the case may be) of Senior Indebtedness or Indebtedness of the Company that
ranks PARI PASSU in right of payment to the Securities or Indebtedness of such
Restricted Subsidiary, or (iii) notes, obligations or other marketable
securities (collectively "Marketable Securities") that are immediately converted
into cash and (c) the Net Cash Proceeds therefrom are applied on or prior to the
date that is 360 days after the date of such Asset Sale (i) to the repayment of
Indebtedness under the Credit Facility (which payment permanently reduces the
commitment thereunder) and, to the extent required pursuant to the terms of such
Indebtedness, to the repayment or repurchase of any Senior Indebtedness or any
Indebtedness that ranks in right of payment PARI PASSU with the Securities
(provided that we offer to repurchase any outstanding Securities (in accordance
with the terms and procedures of an Asset Sale Offer) on a pro rata basis with
such PARI PASSU Indebtedness, based on the aggregate principal amount of the
Securities, plus accrued and unpaid interest, and the aggregate principal
amounts of such Indebtedness); or (ii) to the repurchase of the Securities
pursuant to an Offer to Purchase (an "Asset Sale Offer") described below or
(iii) to an investment in a Wireless Communications Business (or, in the event
such Asset Sale constitutes a transfer of assets related to a Telecommunications
Business that is not a Wireless Communications Business, in a Telecommunications
Business).

          Notwithstanding the foregoing paragraph:

          (i)    any Restricted Subsidiary of the Company may convey, sell,
     lease, transfer or otherwise dispose of any or all of its assets (upon
     voluntary liquidation or otherwise) to the Company or a Wholly Owned
     Restricted Subsidiary of the Company;

          (ii)   the Company and its Restricted Subsidiaries may (A) convey,
     sell, lease, transfer, assign or otherwise dispose of assets in the
     ordinary course of business, PROVIDED that the consideration received
     reflects the Fair Market Value of such assets and (B) exchange assets for
     either assets or equity interests in

                                     -92-

<PAGE>

     Wireless Communications Businesses, PROVIDED that (I) the assets or
     equity interests have a Fair Market Value substantially equal to the
     assets exchanged, (II) the assets received by the Company are controlled
     by the Company with respect to voting rights and day-to-day operations,
     or the equity interests received by the Company represent a controlling
     interest in the total Voting Power and day-to-day operations of a Person
     that is the issuer of such equity interests, (III) there exists no Event
     of Default or event which with notice or lapse of time or both would
     become an Event of Default immediately prior and subsequent thereto,
     (IV) immediately after giving effect to such transaction, the Company
     would be permitted to Incur at least $1.00 of additional Indebtedness
     pursuant to the first paragraph of Section 1008 and (V) the assets being
     received by the Company or its Restricted Subsidiaries in such exchange
     are not Capital Stock of an Unrestricted Subsidiary or an entity to be
     designated an Unrestricted Subsidiary;

          (iii)  the Company and its Restricted Subsidiaries may convey, sell,
     lease, transfer, assign or otherwise dispose of assets pursuant to and in
     accordance with the covenants described in Article Eight;

          (iv)   the Company and its Restricted Subsidiaries may (a) sell
     damaged, worn out or other obsolete property in the ordinary course of
     business or other property no longer necessary for the proper conduct of
     the business of the Company or any of its Restricted Subsidiaries or (b)
     abandon such property if it cannot, through reasonable efforts, be sold;

          (v)    the Company and its Restricted Subsidiaries may make any
     Restricted Payment that complies with Section 1011;

          (vi)   the Company and its Restricted Subsidiaries may make any
     Permitted Investment that complies with Section 1011, other than Permitted
     Investments described under clause (v) of the definition of such term; and

          (vii)  in addition to the Asset Sales permitted by the foregoing
     clauses (i) through (vi), the Company and its Restricted Subsidiaries may
     consummate Asset Sales (other than in the case of Capital Stock of any
     Restricted Subsidiary of the Company) with respect to property, business or
     assets the Fair Market Value of which does not exceed $10 million in the
     aggregate after the Exchange Date.

          The Company may defer an Asset Sale Offer until the accumulated Net
Cash Proceeds not applied to the uses set forth in subsection (c)(i) or (c)(iii)
in the first paragraph of this Section 1015 exceeds $5 million.  An Asset Sale
Offer shall remain open for a period of 20 Business Days following its
commencement and no longer, except

                                     -93-

<PAGE>

to the extent that a longer period is required by applicable law (the "Asset
Sale Offer Period").  No later than five Business Days after the termination
of the Asset Sale Offer Period (the "Asset Sale Purchase Date"), the Company
will purchase the principal amount of Securities required to be purchased
pursuant to this Section 1015 (the "Asset Sale Offer Amount") at a purchase
price equal to 100% of the principal amount of the Securities plus accrued
and unpaid interest to but excluding the date of the purchase or, if less
than the Asset Sale Offer Amount has been tendered, all Securities tendered
in response to the Asset Sale Offer.  Payment for any Securities so purchased
will be made in the same manner as interest payments are made.

          If the Asset Sale Purchase Date is on or after a Regular Record Date
and on or before the related Interest Payment Date, any accrued and unpaid
interest will be paid to the Person in whose name a Security is registered at
the close of business on such Regular Record Date, and no additional interest
will be payable to Holders who tender Securities pursuant to the Asset Sale
Offer.

          On or before the Asset Sale Purchase Date, the Company will, to the
extent lawful, accept for payment, on a pro rata basis to the extent necessary,
the Asset Sale Offer Amount of Securities or portions thereof tendered pursuant
to the Asset Sale Offer, or if less than the Asset Sale Offer Amount has been
tendered, all Securities tendered, and will deliver to the Trustee an Officers'
Certificate stating that such Securities or portions thereof were accepted for
payment by the Company in accordance with the terms of this covenant.  The
Company, the Depositary or the Paying Agent, as the case may be, will promptly
(but in any case not later than 5 days after the Asset Sale Purchase Date) mail
or deliver to each tendering Holder an amount equal to the  purchase price of
the Securities tendered by such Holder and accepted by the Company for purchase,
and the Company will promptly issue a new Security, and the Trustee, upon
written request from the Company will authenticate and mail or deliver such new
Security to such Holder, in a principal amount equal to any unpurchased portion
of the Security surrendered.  Any Security not so accepted will be promptly
mailed or delivered by the Company to the Holder thereof.  The Company will
publicly announce the results of the Asset Sale Offer on the Asset Sale Purchase
Date.

SECTION 1016.    [INTENTIONALLY LEFT BLANK]

SECTION 1017.    CHANGE OF CONTROL.

          (a)    Upon the occurrence of a Change in Control, each Holder of a
Security shall have the right to have such Security repurchased by the Company
on the

                                     -94-

<PAGE>

terms and conditions set forth in this Section 1017.  The Company shall,
within 30 days following the date of the consummation of a transaction
resulting in a Change of Control, mail to each Holder of Securities an Offer
to Purchase all Outstanding Securities at a purchase price equal to 101% of
the aggregate principal amount thereof plus accrued and unpaid interest, if
any, to but excluding the Purchase Date (a "Change of Control Offer"). A
Change of Control Offer shall remain open for a period of 20 Business Days
following its commencement and no longer, except to the extent that a longer
period is required by applicable law (the "Change of Control Offer Period").
No later than 5 Business Days after the termination of the Change of Control
Offer Period (the "Change of Control Purchase Date"), the Company shall
purchase all Securities tendered in response to the Change of Control Offer.
Payment for any Securities so purchased shall be made in the same manner as
interest payments are made.

          If the Change of Control Purchase Date is on or after a Regular Record
Date and on or before the related Interest Payment Date, any accrued and unpaid
interest will be paid to the Person in whose name a Security is registered at
the close of business on such Regular Record Date, and no additional interest
will be payable to Holders who tender Securities pursuant to the Change of
Control Offer.

          On or before the Change of Control Purchase Date, the Company will, to
the extent lawful, accept for payment all Securities or portions thereof
tendered, and will deliver to the Trustee an Officers' Certificate stating that
such Securities or portions thereof were accepted for payment by the Company in
accordance with the terms of this covenant.  The Company, the Depositary or the
Paying Agent, as the case may be, will promptly (but in any case not later than
five days after the Change of Control Purchase Date) mail or deliver to each
tendering Holder an amount equal to the  purchase price of the Securities
tendered by such Holder and accepted by the Company for purchase, and the
Company will promptly issue a new Security, and the Trustee, upon written
request from the Company will authenticate and mail or deliver such new Security
to such Holder, in a principal amount equal to any unpurchased portion of the
Security surrendered.  Any Security not so accepted will be promptly mailed or
delivered by the Company to the Holder thereof.  The Company will publicly
announce the results of the Change of Control Offer on the Change of Control
Purchase Date.

          (b)    "Change of Control" means (i) directly or indirectly a sale,
transfer or other conveyance of all or substantially all the assets of the
Company, on a consolidated basis, to any "person" or "group" (as such terms are
used for purposes of Sections 13(d) and 14(d) of the Exchange Act, whether or
not applicable), excluding transfers or conveyances to or among the Company's
Wholly Owned Restricted Subsidiaries, as an entirety or substantially as an
entirety in one transaction or series of related transactions, in each case with
the effect that any Person or group of Persons owns

                                     -95-

<PAGE>

more than 50% of the total Voting Power entitled to vote in the election of
directors, managers or trustees of the transferee entity immediately after
such transaction, (ii) any "person" or "group" (as such terms are used for
purposes of Sections 13(d) and 14(d) of the Exchange Act, whether or not
applicable) is or becomes the "beneficial owner" (as that term is used in
Rules 13d-3 and 13d-5 under the Exchange Act, whether or not applicable,
except that a Person shall be deemed to have "beneficial ownership" of all
shares that any such Person has the right to acquire, whether such right is
exercisable immediately or only after the passage of time), directly or
indirectly, of more than 50% of the total Voting Power of the Company or
(iii) during any period of 24 consecutive months, individuals who at the
beginning of such period constituted the Board of Directors of the Company
(together with any new directors whose election by such Board or whose
nomination for election by the shareholders of the Company was approved by a
vote of a majority of the directors then still in office who were either
directors at the beginning of such period or whose election or nomination for
election was previously so approved), cease for any reason to constitute a
majority of the Board of Directors of the Company then in office.

          For purposes of clause (iii) above, any new directors elected (a) by
the holders of Exchangeable Preferred Stock pursuant to the terms of the Junior
Certificate of Designation; or if we issue convertible preferred stock in
connection with the Triton Acquisition, by Madison Dearborn Capital Partners
III, LP and Boston Ventures Limited Partnership V or any of their affiliates or
permitted transferees, exercising rights as holders of shares of the Company's
convertible preferred stock shall be deemed to be members of the board of
directors at the beginning of any such 24-month period.

          (c)    The Company will comply with any tender offer rules under the
Exchange Act which may then be applicable, including Rule 14e-l thereunder, in
connection with any Offer to Purchase, Asset Sale Offer or Change of Control
Offer (whether pursuant to Section 1015 or this Section 1017).

SECTION 1018.    STATEMENT BY OFFICERS AS TO DEFAULT; COMPLIANCE CERTIFICATES.

          (a)    The Company shall deliver to the Trustee, within 90 days after
the end of each fiscal year of the Company ending after the date hereof an
Officers' Certificate, stating whether or not to the best knowledge of the
signers thereof the Company has performed its obligations under this Indenture
and whether or not the Company is in default in the performance and observance
of any of the terms, provisions and conditions of this Indenture and if the
Company shall be in default, specifying all such defaults and the nature and
status thereof of which they may have knowledge.

                                     -96-

<PAGE>

          (b)    The Company shall deliver to the Trustee, as soon as possible
and in any event within 10 days after the Company becomes aware or should
reasonably become aware of the occurrence of an Event of Default or an event
which, with notice or the lapse of time or both, would constitute an Event of
Default, an Officers' Certificate setting forth the details of such Event of
Default or default, the period of existence thereof and the action that the
Company proposes to take with respect thereto.

          (c)    The Company shall deliver to the Trustee within 90 days after
the end of each fiscal year a written statement by the Company's independent
public accountants stating (A) that their audit examination has included a
review of the terms of this Indenture and the Securities as they relate to
accounting matters, and (B) whether, in connection with their audit examination,
any event which, with notice or the lapse of time or both, would constitute an
Event of Default has come to their attention and, if such default has come to
their attention, specifying the nature and period of the existence thereof.

SECTION 1019.    WAIVER OF CERTAIN COVENANTS.

          The Company may omit in any particular instance to comply with any
covenant or condition set forth in Sections 801, 1015 and 1017, if before the
time for such compliance the Holders of at least a majority in aggregate
principal amount of the Outstanding Securities shall, by Act of such Holders,
either waive such compliance in such instance or generally waive compliance with
such covenant or condition, but no such waiver shall extend to or affect such
covenant or condition except to the extent such covenant or condition except to
the extent so expressly waived, and, until such waiver shall become effective,
the obligations of the Company and the duties of the Trustee in respect of any
such covenant or condition shall remain in full force and effect; PROVIDED,
HOWEVER, with respect to an Offer to Purchase as to which an Offer has been
mailed, no such waiver may be made or shall be effective against any Holders
tendering Securities pursuant to such Offer, and the Company may not omit to
comply with the terms of such Offer as to such Holder.

SECTION 1020.    [INTENTIONALLY LEFT BLANK]

                                     -97-

<PAGE>

                                    ARTICLE ELEVEN

                               REDEMPTION OF SECURITIES

SECTION 1101.    RIGHT OF REDEMPTION.

          Subject to Article Twelve, the Securities may be redeemed at the
election of the Company, as a whole or from time to time in part, at the
Redemption Prices specified in the form of Security set forth in Article Two
together with accrued interest to but excluding the Redemption Date.

SECTION 1102.    APPLICABILITY OF ARTICLE ELEVEN.

          Redemption of Securities at the election of the Company, as permitted
by any provision of this Indenture, shall be made in accordance with such
provision and this Article Eleven.

SECTION 1103.    ELECTION TO REDEEM; NOTICE TO TRUSTEE.

          The election of the Company to redeem any Securities pursuant to
Section 1101 shall be evidenced by a Board Resolution.  In case of any
redemption at the election of the Company of less than all the Securities, the
Company shall, at least 60 days prior to the Redemption Date fixed by the
Company (unless a shorter notice shall be satisfactory to the Trustee), notify
the Trustee of such Redemption Date and of the principal amount of Securities to
be redeemed.

SECTION 1104.    SELECTION BY TRUSTEE OF SECURITIES TO BE REDEEMED.

          If less than all the Securities are to be redeemed, the particular
Securities to be redeemed shall be selected not more than 60 days prior to the
Redemption Date by the Trustee, from the Outstanding Securities not previously
called for redemption, by prorating, as nearly as may be practicable, the
principal amount of Securities to be redeemed.  In any proration pursuant to
this Section 1104, the Trustee shall make such adjustments, reallocations and
eliminations as it shall deem proper (and in compliance with the requirements of
the principal national securities exchange, if any, on which the Securities are
listed) to the end that the principal amount of Securities so prorated shall be
$1,000 or a multiple thereof, by increasing or decreasing or eliminating the
amount which

                                      -98-

<PAGE>

would be allocable to any Holder on the basis of exact proportion by an
amount not exceeding $1,000.

          The Trustee shall promptly notify the Company and each Security
Registrar in writing of the Securities selected for redemption and, in the case
of any Securities selected for partial redemption, the principal amount thereof
to be redeemed.

          For all purposes of this Indenture, unless the context otherwise
requires, all provisions relating to the redemption of Securities shall relate,
in the case of any Securities redeemed or to be redeemed only in part, to the
portion of the principal amount of such Securities which has been or is to be
redeemed.

SECTION 1105.    NOTICE OF REDEMPTION.

          Notice of redemption shall be given by first-class mail, postage
prepaid, mailed not less than 30 nor more than 60 days prior to the Redemption
Date, to each Holder of securities to be redeemed, at his address appearing in
the Security Register.

          All notices of redemption shall state:

          (1)    the Redemption Date,

          (2)    the Redemption Price,

          (3)    if less than all the Outstanding Securities are to be redeemed,
     the identification (and, in the case of partial redemption, the principal
     amounts) of the particular Securities to be redeemed,

          (4)    that on the Redemption Date the Redemption Price will become
     due and payable upon each such Security to be redeemed and that interest
     thereon will cease to accrue on and after said date and

          (5)    the place or places where such Securities are to be surrendered
     for payment of the Redemption Price.

          Notice of redemption of Securities to be redeemed at the election of
the Company shall be given by the Company or, at the Company's request, by the
Trustee in the name and at the expense of the Company.

                                      -99-

<PAGE>

SECTION 1106.    DEPOSIT OF REDEMPTION PRICE.

          Prior to any Redemption Date, the Company shall deposit with the
Trustee or with a Paying Agent (or, if the Company is acting as its own Paying
Agent, segregate and hold in trust as provided in Section 1003) an amount of
money sufficient to pay the Redemption Price of, and (except if the Redemption
Date shall be an Interest Payment Date) accrued interest on, all the Securities
which are to be redeemed on that date.

SECTION 1107.    SECURITIES PAYABLE ON REDEMPTION DATE.

          If a notice of redemption has been given as aforesaid, the Securities
to be redeemed shall, on the Redemption Date, become due and payable at the
Redemption Price therein specified, and from and after such date (unless the
Company shall default in the payment of the Redemption Price and accrued
interest) such Securities shall cease to bear interest.  Upon surrender of any
such Security for redemption in accordance with said notice, such Security shall
be paid by the Company at the Redemption Price, together with accrued interest
to the Redemption Date; PROVIDED, HOWEVER, that installments of interest whose
Stated Maturity is on or prior to the Redemption Date shall be payable to the
Holders of such Securities, or one or more Predecessor Securities, registered as
such at the close of business on the relevant Record Dates according to their
terms and the provisions of Section 308.

          If any Security called for redemption shall not be so paid upon
surrender thereof for redemption, the principal (and premium, if any) shall,
until paid, bear interest from the Redemption Date at the rate provided by the
Security.

SECTION 1108.    SECURITIES REDEEMED IN PART.

          Any Security which is to be redeemed only in part shall be surrendered
at any office or agency of the Company designated for that purpose pursuant to
Section 1002 (with, if the Company or the Trustee so requires, due endorsement
by, or a written instrument of transfer in form satisfactory to the Company and
the Trustee duly executed by, the Holder thereof or his attorney duly authorized
in writing), and the Company shall execute, and the Trustee shall authenticate
and deliver to the Holder of such Security without service charge, a new
Security or Securities, of any authorized denomination as requested by such
Holder, in aggregate principal amount equal to and in exchange for the
unredeemed portion of the principal of the Security so surrendered.

                                      -100-

<PAGE>

                                    ARTICLE TWELVE

                             SUBORDINATION OF SECURITIES

SECTION 1201.    SECURITIES SUBORDINATE TO SENIOR INDEBTEDNESS.

          The Company covenants and agrees, and each Holder of a Security, by
his acceptance thereof, likewise covenants and agrees, that, to the extent and
in the manner hereinafter set forth in this Article Twelve (subject to the
provisions of Article Four and Article Thirteen), the payment of the principal
of (and premium, if any) and interest on each and all of the Securities are
hereby expressly made subordinate and subject in right of payment to the prior
payment in full of all Senior Indebtedness.

SECTION 1202.    PAYMENT OVER OF PROCEEDS UPON DISSOLUTION, ETC.

          In the event of (a) any insolvency or bankruptcy case or
proceeding, or any receivership, liquidation, reorganization or other similar
case or proceeding in connection therewith, relative to the Company or to its
creditors, as such, or to its assets, or (b) any liquidation, dissolution or
other winding-up of the Company, whether voluntary or involuntary and whether
or not involving insolvency or bankruptcy, or (c) any assignment for the
benefit of creditors or any other marshalling of assets and liabilities of
the Company, then and in any such event specified in (a), (b) or (c) above
(each such event, if any, herein sometimes referred to as a "Proceeding") the
holders of Senior Indebtedness shall be entitled to receive payment in full
of all amounts due or to become due on or in respect of all Senior
Indebtedness, or provision shall be made for such payment in cash or cash
equivalents or otherwise in a manner satisfactory to the holders of Senior
Indebtedness, before the holders of the Securities are entitled to receive
any payment or distribution of any kind or character, whether in cash,
property or securities, on account of principal of (or premium, if any) or
interest on or other obligations in respect of the Securities or other
Indebtedness of the Company that is PARI PASSU or subordinate in right of
payment to the Securities or on account of any purchase or other acquisition
of Securities or such other Indebtedness by the Company or any Subsidiary of
the Company (all such payments, distributions, purchases and acquisition
herein referred to, individually and collectively, as a "Securities
Payment"), and to that end the holders of Senior Indebtedness shall be
entitled to receive, for application to the payment thereof, any Securities
Payment which may be payable or deliverable in respect of the Securities in
any such Proceeding.

          In the event that, notwithstanding the foregoing provisions of this
Section 1202, the Trustee or the Holder of any Security shall have received any
Securities

                                      -101-

<PAGE>

Payment before all Senior Indebtedness is paid in full or payment
thereof has been provided for in cash or cash equivalents or otherwise in a
manner satisfactory to the holders of Senior Indebtedness, and if such fact
shall, at or prior to the time of such Securities Payment, have been made known
to the Trustee by delivery to the Trustee of any notice set forth in Section
1209 or, as the case may be, such Holder, then and in such event such Securities
Payment shall be paid over or delivered forthwith by the Trustee (if any notice
set forth in Section 1209 has been delivered to the Trustee) or by the Holder to
the trustee in bankruptcy, receiver, liquidating trustee, custodian, assignee,
agent or other Person making payment or distribution of assets of the Company
(which may be the Administrative Agent) for application to the payment of all
Senior Indebtedness remaining unpaid, to the extent necessary to pay all Senior
Indebtedness in full, after giving effect to any concurrent payment or
distribution to or for the holders of Senior Indebtedness.

          For purposes of this Article Twelve only, the words "any payment or
distribution of any kind or character, whether in cash, property or securities"
shall not be deemed to include a payment or distribution of stock or securities
of the Company provided for by a plan of reorganization or readjustment
authorized by an order or decree of a court of competent jurisdiction in a
reorganization proceeding under any applicable bankruptcy law or of any other
corporation provided for by such plan of reorganization or readjustment which
stock or securities are subordinated in right of payment to all then outstanding
Senior Indebtedness to substantially the same extent as the Securities are so
subordinated as provided in this Article Twelve.  The consolidation of the
Company with, or the merger of the Company into, another Person or the
liquidation or dissolution of the Company following the conveyance or transfer
of all or substantially all of its properties and assets as an entirety to
another Person upon the terms and conditions set forth in Article Eight shall
not be deemed a Proceeding for the purposes of this Section 1202 if the Person
formed by such consolidation or into which the Company is merged or the Person
which acquires by conveyance or transfer such properties and assets as an
entirety, as the case may be, shall, as a part of such consolidation, merger,
conveyance or transfer, comply with the conditions set forth in Article Eight.

SECTION 1203.    NO PAYMENT WHEN SENIOR INDEBTEDNESS IN DEFAULT.

          In the event that any Senior Payment Default (as defined below) shall
have occurred and be continuing, or the maturity of any Senior Indebtedness
shall have been accelerated, then no Securities Payment shall be made unless and
until such Senior Payment Default shall have been cured or waived or shall have
ceased to exist and any acceleration of Senior Indebtedness shall have been
rescinded or annulled.  "Senior Payment Default" means any default in the
payment of principal of (or premium, if any)

                                      -102-

<PAGE>

or interest on any Senior Indebtedness when due, whether at the Stated
Maturity of any such payment or by declaration of acceleration, call for
redemption or otherwise.

          In the event that any Senior Nonmonetary Default (as defined below)
shall have occurred and be continuing, then, upon the receipt by the Company and
the Trustee of written notice of such Senior Nonmonetary Default from an
Administrative Agent or, if there is no outstanding Designated Senior
Indebtedness, any representative of a holder of Senior Indebtedness, no
Securities Payment shall be made during the period (the "Payment Blockage
Period") commencing on the date of such receipt of such written notice and
ending on the earlier of (i) the date on which such Senior Nonmonetary Default
shall have been cured or waived or shall have ceased to exist and any
acceleration of Senior Indebtedness shall have been rescinded or annulled or the
Senior Indebtedness to which such Senior Nonmonetary Default relates shall have
been discharged or (ii) the 179th day after the date of such receipt of such
written notice.  No more than one Payment Blockage Period may be commenced with
respect to the Securities during any 360-day period and there shall be a period
of at least 181 consecutive days in each 360-day period when no Payment Blockage
Period is in effect.  For all purposes of this Section 1203, no Senior
Nonmonetary Default that was known to the holders of Senior Indebtedness to
exist or be continuing on the date of commencement of any Payment Blockage
Period shall be, or be made, the basis for the commencement of a subsequent
Payment Blockage Period by an Administrative Agent unless such Senior
Nonmonetary Default shall have been cured for a period of not less than 90
consecutive days.  "Senior Nonmonetary Default" means the occurrence or
existence and continuance of any event of default, or of any event which, after
notice or lapse of time or both, would become an event of default, under the
terms of any instrument pursuant to which any Senior Indebtedness is
outstanding, permitting (after notice or lapse of time or both) one or more
holders of such Senior Indebtedness (or an administrative agent on behalf of the
holders thereof) to declare such Senior Indebtedness due and payable prior to
the date on which it would otherwise become due and payable, other than a Senior
Payment Default.

SECTION 1204.    PAYMENT PERMITTED IF NO DEFAULT.

          Nothing contained in this Article Twelve or elsewhere in this
Indenture or in any of the Securities shall prevent (a) the Company, at any
time except during the pendency of any Proceeding referred to in Section 1202
or under the conditions described in Section 1203, from making Securities
Payments, or (b) the application by the Trustee of any money deposited with
it hereunder to Securities Payments or the retention of such Securities
Payment by the Holders, if, at the time of such application by the Trustee,
it had not received any notice set forth in Section 1209.

                                      -103-

<PAGE>

SECTION 1205.    SUBROGATION TO RIGHTS OF HOLDERS OF SENIOR INDEBTEDNESS.

          Subject to the payment in full of all amounts due or to become due on
or in respect of Senior Indebtedness, or the provision for such payment in cash
or cash equivalents or otherwise in a manner satisfactory to the holders of
Senior Indebtedness, the Holders of the Securities shall be subrogated to the
rights of the holders of such Senior Indebtedness to receive payments and
distributions of cash, property and securities applicable to the Senior
Indebtedness until the principal of (and premium, if any) and interest on the
Securities shall be paid in full.  For purposes of such subrogation, no payments
or distributions to the holders of the Senior Indebtedness of any cash, property
or securities to which the Holders of the Securities or the Trustee would be
entitled except for the provisions of this Article Twelve, and no payments over
pursuant to the provisions of this Article Twelve to the holders of Senior
Indebtedness by Holders of the Securities or the Trustee, shall, as among the
Company, its creditors other than holders of Senior Indebtedness and the Holders
of the Securities, be deemed to be a payment or distribution by the Company to
or on account of the Senior Indebtedness.

SECTION 1206.    PROVISIONS SOLELY TO DEFINE RELATIVE RIGHTS.

          The provisions of this Article Twelve are and are intended solely for
the purpose of defining the relative rights of the Holders on the one hand and
the holders of Senior Indebtedness on the other hand.  Nothing contained in this
Article Twelve or elsewhere in this Indenture or in the Securities is intended
to or shall (a) impair, as among the Company, its creditors other than holders
of Senior Indebtedness and the Holders of the Securities, the obligation of the
Company, which is absolute and unconditional (and which, subject to the rights
under this Article Twelve of the holders of Senior Indebtedness, is intended to
rank equally with all other general obligations of the Company), to pay to the
Holders of the Securities the principal of (and premium, if any) and interest on
the Securities as and when the same shall become due and payable in accordance
with their terms; or (b) affect the relative rights against the Company of the
Holders of the Securities and creditors of the Company other than the holders of
Senior Indebtedness; or (c) prevent the Trustee or the Holder of any Security
from exercising all remedies otherwise permitted by applicable law upon default
under this Indenture, subject to the rights, if any, under this Article Twelve
of the holders of Senior Indebtedness to receive cash, property and securities
otherwise payable or deliverable to the Trustee or such Holder.

                                      -104-

<PAGE>

SECTION 1207.    TRUSTEE TO EFFECTUATE SUBORDINATION.

          Each Holder of a Security by his acceptance thereof authorizes and
directs the Trustee on his behalf to take such action as may be necessary or
appropriate to effectuate the subordination provided in this Article Twelve and
appoints the Trustee his attorney-in-fact for any and all such purposes.

SECTION 1208.    NO WAIVER OF SUBORDINATION PROVISIONS.

          No right of any present or future holder of any Senior Indebtedness to
enforce subordination as herein provided shall at any time in any way be
prejudiced or impaired by any act or failure to act on the part of the Company
or by any act or failure to act, in good faith, by any such holder, or by any
noncompliance by the Company with the terms, provisions and covenants of this
Indenture, regardless of any knowledge thereof any such holder may have or be
otherwise charged with.

          Without in any way limiting the generality of the foregoing paragraph,
the holders of Senior Indebtedness may, at any time and from time to time,
without the consent of or notice to the Trustee or the Holders of the
Securities, without incurring responsibility to the Holders of the Securities
and without impairing or releasing the subordination provided in this Article
Twelve or the obligations hereunder of the Holders of the Securities to the
holders of Senior Indebtedness, do any one or more of the following: (i) change
the manner, place or terms of payment or extend the time of payment of, or renew
or alter, Senior Indebtedness, or otherwise amend or supplement in any manner
Senior Indebtedness or any instrument evidencing the same or any agreement under
which Senior Indebtedness is outstanding; (ii) sell, exchange, release or
otherwise deal with any property pledged, mortgaged or otherwise securing Senior
Indebtedness; (iii) release any Person liable in any manner for the collection
of Senior Indebtedness; and (iv) exercise or refrain from exercising any rights
against the Company and any other Person.

SECTION 1209.    NOTICE TO TRUSTEE.

          The Company shall give prompt written notice to the Trustee of any
fact known to the Company which would prohibit the making of any payment to or
by the Trustee in respect of the Securities.  Notwithstanding the provisions of
this Article Twelve or any other provision of this Indenture, the Trustee shall
not be charged with knowledge of the existence of any facts which would prohibit
the making of any payment to or by the Trustee in respect of the Securities,
unless and until the Trustee shall have received

                                      -105-

<PAGE>

written notice thereof from the Company or a holder of Senior Indebtedness or
from any trustee, representative or Administrative Agent therefor; and, prior
to the receipt of any such written notice, the Trustee, subject to the
provisions of Section 601, shall be entitled in all respects to assume that
no such facts exist; PROVIDED, HOWEVER, that if the Trustee shall not have
received the notice provided for in this Section 1209 at least five Business
Days prior to the date upon which by the terms hereof any money may become
payable for any purpose (including, without limitation, the payment of the
principal of (and premium, if any) or interest on any Security), then,
anything herein contained to the contrary notwithstanding, the Trustee shall
have full power and authority to receive such money and to apply the same to
the purpose for which such money was received and shall not be affected by
any notice to the contrary which may be received by it within five Business
Days prior to such date.

          Subject to the provisions of Section 601, the Trustee shall be
entitled to rely on the delivery to it of a written notice by a Person
representing himself to be a holder of Senior Indebtedness (or a trustee or
Administrative Agent therefor) to establish that such notice has been given by a
holder of Senior Indebtedness (or a trustee or Administrative Agent therefor).
In the event that the Trustee determines in good faith that further evidence is
required with respect to the right of any Person as a holder of Senior
Indebtedness to participate in any payment or distribution pursuant to this
Article Twelve, the Trustee may request such Person to furnish evidence to the
reasonable satisfaction of the Trustee as to the amount of Senior Indebtedness
held by such Person, the extent to which such Person is entitled to participate
in such payment or distribution and any other facts pertinent to the rights of
such Person under this Article Twelve, and if such evidence is not furnished,
the Trustee may defer any payment to such Person pending judicial determination
as to the right of such Person to receive such payment.

SECTION 1210.    RELIANCE ON JUDICIAL ORDER OR CERTIFICATE OF LIQUIDATING AGENT.

          Upon any payment or distribution of assets of the Company referred to
in this Article Twelve, the Trustee, subject to the provisions of Section 601,
and the Holders of the Securities shall be entitled to rely upon any order or
decree entered by any court of competent jurisdiction in which a Proceeding is
pending, or a certificate of the trustee in bankruptcy, receiver, liquidating
trustee, custodian, assignee for the benefit of creditors, agent or other Person
making such payment or distribution, delivered to the Trustee or to the Holders
of Securities, for the purpose of ascertaining the Persons entitled to
participate in such payment or distribution, the holders of the Senior
Indebtedness and other indebtedness of the Company, the amount thereof or
payable thereon, the amount or amounts paid or distributed thereon, the amount
or amounts paid or distributed thereon and all other facts pertinent thereto or
to this Article Twelve.

                                      -106-

<PAGE>

SECTION 1211.    TRUSTEE NOT FIDUCIARY FOR HOLDERS OF SENIOR DEBT.

          The Trustee shall not be deemed to owe any fiduciary duty to the
holders of Senior Indebtedness and it undertakes to perform and observe only
such of its covenants and obligations with respect to the Senior Indebtedness as
are specifically set forth in this Indenture, and no implied covenants or
obligations with respect to the Senior Indebtedness shall be read into this
Indenture against the Trustee and the Trustee shall not be liable to any such
holders if it shall in good faith mistakenly pay over or distribute to Holders
of Securities or to the Company or to any other Person cash, property or
securities to which any holders of Senior Indebtedness shall be entitled by
virtue of this Article Twelve or otherwise.

SECTION 1212.    RIGHTS OF TRUSTEE AS HOLDER OF SENIOR INDEBTEDNESS;
                 PRESERVATION OF TRUSTEE'S RIGHTS.

          The Trustee in its individual capacity shall be entitled to all the
rights set forth in this Article Twelve with respect to any Senior Indebtedness
which may at any time be held by it, to the same extent as any other holder of
Senior Indebtedness, and nothing in this Indenture shall deprive the Trustee of
any of its rights as such holder.

          Nothing in this Article Twelve shall apply to claims of, or payments
to, the Trustee under or pursuant to Section 607.

SECTION 1213.    ARTICLE TWELVE APPLICABLE TO PAYING AGENTS.

          In case at any time any Paying Agent other than the Trustee shall have
been appointed by the Company and be then acting hereunder, the term "Trustee"
as used in this Article Twelve shall in such case (unless the context otherwise
requires) be construed as extending to and including such Paying Agent within
its meaning as fully for all intents and purposes as if such Paying Agent were
named in this Article Twelve in addition to or in place of the Trustee;
PROVIDED, HOWEVER, that Section 1212 shall not apply to the Company or any
Affiliate of the Company if it or such Affiliate acts as Paying Agent.

SECTION 1214.    DEFEASANCE OF THIS ARTICLE TWELVE.

                                      -107-

<PAGE>

          The subordination of the Securities provided by this Article Twelve
is expressly made subject to the provisions for defeasance or covenant
defeasance in Article Thirteen hereof and, anything herein to the contrary
notwithstanding, upon the effectiveness of any such defeasance or covenant
defeasance, the Securities then Outstanding shall thereupon cease to be
subordinated pursuant to this Article Twelve.

                                      -108-

<PAGE>

                                   ARTICLE THIRTEEN

                          DEFEASANCE AND COVENANT DEFEASANCE

SECTION 1301.    COMPANY'S OPTION TO EFFECT DEFEASANCE OR COVENANT DEFEASANCE.

          The Company may at its option by Board Resolution, at any time, elect
to have either Section 1302 or Section 1303 applied to the Outstanding
Securities upon compliance with the conditions set forth below in this Article
Thirteen.

SECTION 1302.    DEFEASANCE AND DISCHARGE.

          Upon the Company's exercise of the option provided in Section 1301
applicable to this Section 1302, the Company shall be deemed to have been
discharged from its obligations with respect to the Outstanding Securities, and
the provisions of Article Twelve hereof shall cease to be effective, on the date
the conditions set forth below are satisfied (hereinafter, "defeasance").  For
this purpose, such defeasance means that the Company shall be deemed to have
paid and discharged the entire indebtedness represented by the Outstanding
Securities, which shall thereafter be deemed to be "Outstanding" only for the
purposes of Section 1305 and the other Sections of this Indenture referred to in
clauses (A) and (B) below, and to have satisfied all its other obligations under
such Securities and this Indenture insofar as such Securities are concerned (and
the Trustee, at the expense of the Company, shall execute proper instruments
acknowledging the same), except for the following which shall survive until
otherwise terminated or discharged hereunder:  (A) the rights of Holders of such
Securities to receive, solely from the trust fund described in Section 1304 and
as more fully set forth in such Section, payments in respect of the principal of
(and premium, if any) and interest on such Securities when such payments are
due, (B) the Company's obligations with respect to such Securities under
Sections 304, 305, 306, 307, 1002 and 1003, (C) the rights, powers, trusts,
duties and immunities of the Trustee hereunder and (D) this Article Thirteen.
Subject to compliance with this Article Thirteen, the Company may exercise its
option under this Section 1302 notwithstanding the prior exercise of its option
under Section 1303.

                                     -109-

<PAGE>

SECTION 1303.    COVENANT DEFEASANCE.

          Upon the Company's exercise of the option provided in Section 1301
applicable to this Section, (i) the Company shall be released from its
obligations under Sections 1005 through 1017, inclusive, and clauses (3), (4)
and (5) of Section 801, (ii) the occurrence of an event specified in Sections
501(3), 501(4) (with respect to clauses (1), (3), (4) or (5) of Section 801),
501(5) (with respect to any of Sections 1005 through 1017, inclusive), 501(6)
and 501(7) shall not be deemed to be an Event of Default and (iii) the
provisions of Article Twelve hereof shall cease to be effective on and after the
date all conditions set forth below are satisfied (hereinafter, "covenant
defeasance").  For this purpose, such covenant defeasance means that the Company
may omit to comply with and shall have no liability in respect of any term,
condition or limitation set forth in any such Section, Clause or Article or by
reason of any reference in any such Section, clause or Article to any other
provision herein or in any other document, but the remainder of this Indenture
and such Securities shall be unaffected thereby.

SECTION 1304.    CONDITIONS TO DEFEASANCE OR COVENANT DEFEASANCE.

          The following shall be the conditions to application of either Section
1302 or Section 1303 to the then Outstanding Securities:

          (1)    The Company shall irrevocably have deposited or caused to be
     deposited with the Trustee (or another trustee satisfying the requirements
     of Section 609 who shall agree to comply with the provisions of this
     Article Thirteen applicable to it) as trust funds in trust for the purpose
     of making the following payments, specifically pledged as security for, and
     dedicated solely to, the benefit of the Holders of such Securities, (A)
     money in an amount, or (B) U.S. Government Obligations which through the
     scheduled payment of principal and interest in respect thereof in
     accordance with their terms, without the need for reinvestment, will
     provide, not later than one day before the due date of any payment, money
     in an amount, or (C) a combination thereof, sufficient, in the opinion of a
     nationally recognized firm of independent public accountants expressed in a
     written certification thereof delivered to the Trustee, to pay and
     discharge, and which shall be applied by the Trustee (or other qualifying
     trustee) to pay and discharge, the principal of (and premium, if any,) and
     each installment of interest, if any, on the Outstanding Securities on the
     Stated Maturity of such principal or installment of interest in accordance
     with the terms of this Indenture and of such Securities.  For this purpose,
     "U.S. Government Obligations" means securities that are (x) direct
     obligations of the United States of America for the payment of which its
     full faith and credit is pledged or (y) obligations of a Person

                                    -110-

<PAGE>

     controlled or supervised by and acting as an agency or instrumentality
     of the United States of America the payment of which is unconditionally
     guaranteed as a full faith and credit obligation by the United States of
     America, which, in either case, are not callable or redeemable at the
     option of the issuer thereof, and shall also include a depository
     receipt issued by a bank (as defined in Section 3(a)(2) of the
     Securities Act) as custodian with respect to any such U.S. Government
     Obligation or a specific payment of principal of or interest on any such
     U.S. Government Obligation held by such custodian for the account of the
     holder of such depository receipt, PROVIDED that (except as required by
     law) such custodian is not authorized to make any deduction from the
     amount payable to the holder of such depository receipt from any amount
     received by the custodian in respect of the U.S. Government Obligation
     or the specific payment of principal of or interest on the U.S.
     Government Obligation evidenced by such depository receipt.

          (2)    In the case of an election under Section 1302, the Company
     shall have delivered to the Trustee an Opinion of Counsel stating that (x)
     the Company has received from, or there has been published by, the Internal
     Revenue Service a ruling, or (y) since the date of this Indenture there has
     been a change in the applicable federal income tax law, in either case to
     the effect that, and based thereon such opinion shall confirm that, the
     Holders of the Outstanding Securities will not recognize gain or loss for
     federal income tax purposes as a result of such deposit, defeasance and
     discharge and will be subject to federal income tax on the same amount, in
     the same manner and at the same times as would have been the case if such
     deposit, defeasance and discharge had not occurred.

          (3)    In the case of an election under Section 1303, the Company
     shall have delivered to the Trustee an Opinion of Counsel to the effect
     that the Holders of the Outstanding Securities will not recognize gain or
     loss for federal income tax purposes as a result of such deposit and
     covenant defeasance and will be subject to federal income tax on the same
     amount, in the same manner and at the same times as would have been the
     case if such deposit covenant defeasance and discharge had not occurred.

          (4)    The Company shall have delivered to the Trustee an Officers'
     Certificate to the effect that the Securities, if then listed on any
     securities exchange, will not be delisted as a result of such deposit.

          (5)    Such defeasance or covenant defeasance shall not cause the
     Trustee to have a conflicting interest as defined in Section 608 and for
     purposes of the Trust Indenture Act with respect to any securities of the
     Company.

                                    -111-

<PAGE>

          (6)    No Event of Default or event that, with notice or lapse of time
     or both, would become an Event of Default shall have occurred and be
     continuing on the date of such deposit or, insofar as Section 501(8) is
     concerned, at any time during the period ending on the 121st day after the
     date of such deposit (it being understood that this condition shall not be
     deemed satisfied until the expiration of such period).

          (7)    Such defeasance or covenant defeasance shall not result in a
     breach or violation of, or constitute a default under, any other agreement
     or instrument to which the Company is a party or by which it is bound.

          (8)    The Company shall have delivered to the Trustee an Officers'
     Certificate and an Opinion of Counsel, each stating that all conditions
     precedent relating to either the defeasance under Section 1302 or the
     covenant defeasance under Section 1303 (as the case may be) have been
     satisfied.

          (9)    Such defeasance or covenant defeasance shall not result in the
     trust arising from such deposit constituting an investment company as
     defined in the Investment Company Act of 1940, as amended, or such trust
     shall be qualified under such act or exempt from regulation thereunder.

SECTION 1305.    DEPOSITED MONEY AND U.S. GOVERNMENT OBLIGATIONS TO BE HELD IN
                 TRUST; OTHER MISCELLANEOUS PROVISIONS.

          Subject to the provisions of the last paragraph of Section 1003, all
money and U.S. Government Obligations (including the proceeds thereof) deposited
with the Trustee (or other qualifying trustee -- collectively, for purposes of
this Section 1305, the "Trustee") pursuant to Section 1304 in respect of the
Securities shall be held in trust and applied by the Trustee, in accordance with
the provisions of such Securities and this Indenture, to the payment, either
directly or through any Paying Agent (including the Company acting as its own
Paying Agent) as the Trustee may determine, to the Holders of such Securities,
of all sums due and to become due thereon in respect of principal (and premium,
if any) and interest, but such money need not be segregated from other funds
except to the extent required by law.  Money so held in trust shall not be
subject to the provisions of Article Twelve.

          The Company shall pay and indemnify the Trustee against any tax, fee
or other charge imposed on or assessed against the U.S. Government Obligations
deposited pursuant to Section 1304 or the principal and interest received in
respect thereof other

                                    -112-

<PAGE>

than any such tax, fee or other charge which by law is for the account of the
Holders of the Outstanding Securities.

          Anything in this Article Thirteen to the contrary notwithstanding, the
Trustee shall deliver or pay to the Company from time to time upon Company
Request any money or U.S. Government Obligations held by it as provided in
Section 1304 which, in the opinion of a nationally recognized firm of
independent public accountants expressed in a written certification thereof
delivered to the Trustee, are in excess of the amount thereof which would then
be required to be deposited to effect an equivalent defeasance or covenant
defeasance.

SECTION 1306.    REINSTATEMENT.

          If the Trustee or the Paying Agent is unable to apply any money in
accordance with Section 1302 or 1303 by reason of any order or judgment of any
court or governmental authority enjoining, restraining or otherwise prohibiting
such application, then the Company's obligations under this Indenture and the
Securities shall be revived and reinstated as though no deposit had occurred
pursuant to this Article Thirteen until such time as the Trustee or Paying agent
is permitted to apply all such money in accordance with Section 1302 or 1303;
PROVIDED, HOWEVER, that if the Company makes any payment of principal of (and
premium, if any) or interest on any Security following the reinstatement of its
obligations, the Company shall be subrogated to the rights of the Holders of
such Securities to receive such payment from the money held by the Trustee or
the Paying Agent.

                     [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

                                    -113-

<PAGE>

          IN WITNESS WHEREOF, the parties hereto have caused this Indenture to
be duly executed, and their respective corporate seals to be hereunto affixed
and attested, all as of the day and year first above written.

                                      RURAL CELLULAR CORPORATION

                                      By:  __________________________
                                             Name:
                                             Title:

Attest:

_______________________

                                      NORWEST BANK MINNESOTA,
                                      NATIONAL ASSOCIATION

                                      By:  ___________________________
                                             Name:
                                             Title:
                                             (Authorized Officer)
Attest:

_______________________

                                    -114-

<PAGE>

STATE OF ______________        )
                                      ss.:
COUNTY OF ____________         )

          On the ___ day of ___________, _____, before me personally came
________________________________________________________________________________
__________, to me known, who, being duly sworn, did depose and say that he is
the President/Vice President of Finance of Rural Cellular Corporation, one of
the corporations described in and which executed the foregoing instrument; and
that he signed his name to the foregoing instrument by authority of by authority
of the Board of Directors of said corporation.

                                      _________________________________________

STATE OF ____________          )
                                      ss.:
COUNTY OF __________           )

          On the _____ day of  ___________, _____, before me personally came
______________________________________________________________________________,
to me known, who, being by me duly sworn, did depose and say that [he/she]
is ______________________________ ________________ of Norwest Bank Minnesota,
National Association, one of the corporations described in and which executed
the foregoing instrument; that [he/she] signed [his/or her] name to the
foregoing instrument by authority of the Board of Directors of said
corporation.

                                            _____________________________

<PAGE>

                            .........................

          Reconciliation and tie between Trust Indenture Act of 1939
          and Indenture, dated as of [___________, _____].

<TABLE>
<CAPTION>

    Trust Indenture                                             Indenture
      Act Section                                                Section
    ---------------                                             ---------
<S>                                                             <C>
 Section 310(a)(1)      . . . . . . . . . . . . . . . . . . .   609
            (a)(2)      . . . . . . . . . . . . . . . . . . .   609
            (a)(3)      . . . . . . . . . . . . . . . . . . .   Not applicable
            (a)(4)      . . . . . . . . . . . . . . . . . . .   Not applicable
            (a)(5)      . . . . . . . . . . . . . . . . . . .   608
            (b)         . . . . . . . . . . . . . . . . . . .   608
                                                                610
            (c)         . . . . . . . . . . . . . . . . . . .   Not applicable
 Section 311(a)         . . . . . . . . . . . . . . . . . . .   613
            (b)         . . . . . . . . . . . . . . . . . . .   613
            (c)         . . . . . . . . . . . . . . . . . . .   Not applicable
 Section 312(a)         . . . . . . . . . . . . . . . . . . .   701
                                                                702(a)
            (b)         . . . . . . . . . . . . . . . . . . .   702(b)
            (c)         . . . . . . . . . . . . . . . . . . .   702(c)
 Section 313(a)         . . . . . . . . . . . . . . . . . . .   703(a)
            (b)(1)      . . . . . . . . . . . . . . . . . . .   Not applicable
            (b)(2)      . . . . . . . . . . . . . . . . . . .   703(a)
            (c)         . . . . . . . . . . . . . . . . . . .   703(a)
                                                                106
            (d)         . . . . . . . . . . . . . . . . . . .   703(b)
 Section 314(a)         . . . . . . . . . . . . . . . . . . .   704
            (b)         . . . . . . . . . . . . . . . . . . .   Not applicable
            (c)(1)      . . . . . . . . . . . . . . . . . . .   102
            (c)(2)      . . . . . . . . . . . . . . . . . . .   102
            (c)(3)      . . . . . . . . . . . . . . . . . . .   Not applicable
            (d)         . . . . . . . . . . . . . . . . . . .   Not applicable
            (e)         . . . . . . . . . . . . . . . . . . .   102
 Section 315(a)         . . . . . . . . . . . . . . . . . . .   601
                        . . . . . . . . . . . . . . . . . . .   603
            (b)         . . . . . . . . . . . . . . . . . . .   602
                                                                106
            (c)         . . . . . . . . . . . . . . . . . . .   601(a)
</TABLE>
-------------------------------------------------------------------------------

                                       i
<PAGE>

<TABLE>
<CAPTION>

    Trust Indenture                                             Indenture
      Act Section                                                Section
    ---------------                                             ---------
<S>                                                             <C>
            (d)                 . . . . . . . . . . . . . . .   601(b)
            (e)                 . . . . . . . . . . . . . . .   514
 Section 316(a) (last sentence) . . . . . . . . . . . . . . .   101
            (a)(1)(A)           . . . . . . . . . . . . . . .   512
            (a)(1)(B)           . . . . . . . . . . . . . . .   513
            (a)(2)              . . . . . . . . . . . . . . .   Not applicable
            (b)                 . . . . . . . . . . . . . . .   508
 Section 317(a)(1)              . . . . . . . . . . . . . . .   503
            (a)(2)              . . . . . . . . . . . . . . .   504
            (b)                 . . . . . . . . . . . . . . .   1003
 Section 318(a)                 . . . . . . . . . . . . . . .   107
</TABLE>
------------------------------------------------------------------------------

This Reconciliation and tie shall not, for any purpose, be deemed to be a part
of the Indenture.

                                       ii

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