Document:

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                                                                     EXHIBIT 4.2

1

                                                                  EXECUTION COPY

                          REGISTRATION RIGHTS AGREEMENT

                           DATED AS OF AUGUST 1, 2003

                                  BY AND AMONG

                           RURAL CELLULAR CORPORATION

                                    AS ISSUER

                                       AND

                              LEHMAN BROTHERS INC.

                                       AND

                        MORGAN STANLEY & CO. INCORPORATED

                            AS THE INITIAL PURCHASERS

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                  This Registration Rights Agreement (this "AGREEMENT") is dated
as of August 1, 2003, by and among Rural Cellular Corporation, a Minnesota
corporation (the "COMPANY"), and Lehman Brothers Inc. and Morgan Stanley & Co.
Incorporated (each an "INITIAL PURCHASER" and, collectively, the "INITIAL
PURCHASERS"), each of whom has agreed to purchase the Company's 9 7/8% Senior
Notes due February 1, 2010 (the "NOTES") pursuant to the Purchase Agreement (as
defined below).

                  This Agreement is made pursuant to the Purchase Agreement,
dated as of July 23, 2003 (the "PURCHASE AGREEMENT"), by and among the Company
and the Initial Purchasers. In order to induce the Initial Purchasers to
purchase the Notes, the Company has agreed to provide the registration rights
set forth in this Agreement. The execution and delivery of this Agreement is a
condition to the obligations of the Initial Purchasers set forth in Section 5 of
the Purchase Agreement. Capitalized terms used herein and not otherwise defined
shall have the meanings assigned to them in the Indenture, dated the date hereof
(the "INDENTURE"), among the Company and U.S. Bank National Association, as
Trustee (the "TRUSTEE"), relating to the Notes and the Exchange Notes (as
defined below).

                  The parties hereby agree as follows:

SECTION 1.        DEFINITIONS

                  As used in this Agreement, the following capitalized terms
shall have the following meanings:

                  ACT: The U.S. Securities Act of 1933, as amended.

                  AFFILIATE: As defined in Rule 144 of the Act.

                  BROKER-DEALER: Any broker or dealer registered under the
Exchange Act.

                  CLOSING DATE: The date of this Agreement.

                  COMMISSION: The U.S. Securities and Exchange Commission.

                  CONSUMMATE: An Exchange Offer shall be deemed "Consummated"
for purposes of this Agreement upon the occurrence of (a) the filing and
effectiveness under the Act of the Exchange Offer Registration Statement
relating to the Exchange Notes to be issued in the Exchange Offer, (b) the
maintenance of such Exchange Offer Registration Statement continuously effective
and the keeping of the Exchange Offer open for a period not less than the
minimum period required pursuant to Section 3(b) hereof and (c) the delivery by
the Company to the Registrar under the Indenture of Exchange Notes in the same
aggregate principal amount as the aggregate principal amount of Notes tendered
by Holders thereof pursuant to the Exchange Offer.

                  CONSUMMATION DEADLINE: As defined in Section 3(b) hereof.

                  EFFECTIVENESS DEADLINE: As defined in Section 3(a) and 4(a)
hereof.

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                  EXCHANGE ACT: The U.S. Securities Exchange Act of 1934, as
amended.

                  EXCHANGE NOTES: The Company's 9 7/8% Senior Notes due 2010,
registered under the Act, to be issued pursuant to the Indenture (a) in the
Exchange Offer or (b) as contemplated by Section 4 hereof.

                  EXCHANGE OFFER: The exchange and issuance by the Company of a
principal amount of Exchange Notes (which shall be registered pursuant to the
Exchange Offer Registration Statement) equal to the outstanding principal amount
of Notes that are tendered by such Holders in connection with such exchange and
issuance.

                  EXCHANGE OFFER REGISTRATION STATEMENT: The Registration
Statement relating to the Exchange Offer, including the related Prospectus.

                  EXEMPT RESALES: The transactions in which the Initial
Purchasers propose to sell the Notes to certain "qualified institutional
buyers," as such term is defined in Rule 144A under the Act, and pursuant to
Regulation S under the Act.

                  FILING DEADLINE: As defined in Sections 3(a) and 4(a) hereof.

                  HOLDERS: As defined in Section 2 hereof.

                  INTEREST PAYMENT DATE: As defined in the Notes and the
Exchange Notes.

                  PERSON: As defined in the Indenture.

                  PROSPECTUS: The prospectus included in a Registration
Statement at the time such Registration Statement is declared effective, as
amended or supplemented by any prospectus supplement and by all other amendments
thereto, including post-effective amendments, and all material incorporated by
reference into such Prospectus.

                  RECOMMENCEMENT DATE: As defined in Section 6(e) hereof.

                  REGISTRATION DEFAULT: As defined in Section 5 hereof.

                  REGISTRATION STATEMENT: Any registration statement of the
Company relating to (a) an offering of Exchange Notes pursuant to an Exchange
Offer or (b) the registration for resale of Transfer Restricted Securities
pursuant to the Shelf Registration Statement, in each case (i) that is filed
pursuant to the provisions of this Agreement and (ii) including the Prospectus
included therein, all amendments and supplements thereto (including
post-effective amendments) and all exhibits and material incorporated by
reference therein.

                  REGULATION S: Regulation S promulgated under the Act.

                  RULE 144: Rule 144 promulgated under the Act.

                  SHELF REGISTRATION STATEMENT: As defined in Section 4(a)
hereof.

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                  SUSPENSION NOTICE: As defined in Section 6(e) hereof.

                  TIA: The U.S. Trust Indenture Act of 1939 (15 U.S.C. Section
77aaa-77bbbb) as in effect on the date of the Indenture.

                  TRANSFER RESTRICTED SECURITIES: Each Note, until the earliest
to occur of (a) the date on which such Note has been exchanged by a Person other
than a Broker-Dealer for an Exchange Note in the Exchange Offer, (b) following
the exchange by a Broker-Dealer in the Exchange Offer of a Note for an Exchange
Note, the date on which such Exchange Note is sold to a purchaser who receives
from such Broker-Dealer on or prior to the date of such sale a copy of the
Prospectus contained in the Exchange Offer Registration Statement, (c) the date
on which such Note has been effectively registered under the Act and disposed of
in accordance with the Shelf Registration Statement, (d) the date on which such
Note is distributed to the public pursuant to Rule 144 under the Act, or is
saleable pursuant to Rule 144(k) under the Act (or similar provision then in
effect), or (e) the date on which such Note ceases to be outstanding; provided,
however, that for purposes of this Agreement (other than Section 9 hereof),
Notes with respect to which the Company has caused to be filed and declared
effective an Exchange Offer Registration Statement and has Consummated an
Exchange Offer, in each case pursuant to and in accordance with Section 3
hereof, and which have not been tendered by the date such Exchange Offer is
Consummated by the holder thereof shall not be deemed to be Transfer Restricted
Securities, except to the extent the holder thereof provides the notice
contemplated by Section 4(a)(ii).

                  UNDERWRITTEN REGISTRATION or UNDERWRITTEN OFFERING: A
registration in which securities of the Company are sold to an underwriter for
reoffering to the public.

SECTION 2.        HOLDERS

                  A Person is deemed to be a holder of Transfer Restricted
Securities (each, a "HOLDER") whenever such Person owns Transfer Restricted
Securities.

SECTION 3.        REGISTERED EXCHANGE OFFER

                  (a) Unless the Exchange Offer shall not be permitted by
applicable law or Commission policy (after the procedures set forth in Section
6(a)(iii)(A) below have been complied with), the Company shall (i) cause the
Exchange Offer Registration Statement to be filed with the Commission on or
prior to 90 days after the Closing Date (the "FILING DEADLINE"), (ii) use its
commercially reasonable efforts to cause such Exchange Offer Registration
Statement to be declared effective on or prior to 180 days after the Closing
Date (the "EFFECTIVENESS DEADLINE"), (iii) in connection with the foregoing, (A)
file all pre-effective amendments to such Exchange Offer Registration Statement
as may be reasonably necessary in order to cause it to become effective, (B)
file, if applicable, a post-effective amendment to such Exchange Offer
Registration Statement pursuant to Rule 430A under the Act and (C) cause all
necessary filings, if any, in connection with the registration and qualification
of the Exchange Notes to be made under the Blue Sky laws of such jurisdictions
as are necessary to permit Consummation of the Exchange Offer, and (iv) upon the
effectiveness of such Exchange Offer Registration Statement,

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commence, and use its commercially reasonable efforts to Consummate, the
Exchange Offer. The Exchange Offer shall be on the appropriate form permitting
(I) registration of the Exchange Notes to be offered in exchange for the Notes
that are Transfer Restricted Securities and (II) resales of Exchange Notes by
Broker-Dealers that tendered into the Exchange Offer Notes that such
Broker-Dealer acquired for its own account as a result of market making
activities or other trading activities (other than Notes acquired directly from
the Company or any Affiliate of the Company) as contemplated by Section 3(c)
below.

                  (b) The Company shall use its commercially reasonable efforts
to cause the Exchange Offer Registration Statement to be effective continuously,
and shall keep the Exchange Offer open for a period of not less than the minimum
period required under applicable federal and state securities laws to Consummate
the Exchange Offer; provided, however, that in no event shall such period be
less than 20 Business Days. The Company shall cause the Exchange Offer to comply
with all applicable federal and state securities laws. No securities other than
the Exchange Notes shall be included in the Exchange Offer Registration
Statement. The Company shall use its commercially reasonable efforts to cause
the Exchange Offer to be Consummated no later than 30 Business Days thereafter
(the "CONSUMMATION DEADLINE").

                  (c) The Company shall include a "Plan of Distribution" section
in the Prospectus contained in the Exchange Offer Registration Statement and
indicate therein that any Broker-Dealer who holds Transfer Restricted Securities
that were acquired for the account of such Broker-Dealer as a result of
market-making activities or other trading activities (other than Transfer
Restricted Securities acquired directly from the Company or any Affiliate of the
Company), may exchange such Transfer Restricted Securities pursuant to the
Exchange Offer. Such "Plan of Distribution" section shall also contain all other
information with respect to such sales by such Broker-Dealers that the
Commission may require in order to permit such sales pursuant thereto, but such
"Plan of Distribution" shall not name any such Broker-Dealer or disclose the
amount of Transfer Restricted Securities held by any such Broker-Dealer, except
to the extent required by the Commission as a result of a change in policy,
rules or regulations after the date of this Agreement.

                  Because such a Broker-Dealer may be deemed to be an
"underwriter" within the meaning of the Act and must, therefore, deliver a
prospectus meeting the requirements of the Act in connection with its initial
sale of any Exchange Notes received by such Broker-Dealer in the Exchange Offer,
the Company shall permit the use of the Prospectus contained in the Exchange
Offer Registration Statement by such Broker-Dealer to satisfy such prospectus
delivery requirement. To the extent necessary to ensure that the prospectus
contained in the Exchange Offer Registration Statement is available for sales of
Exchange Notes by Broker-Dealers, the Company agrees to use its commercially
reasonable efforts to keep the Exchange Offer Registration Statement
continuously effective, supplemented, amended and current as required by and
subject to the provisions of Section 6(a) and (c) hereof and in conformity with
the requirements of this Agreement, the Act and the policies, rules and
regulations of the Commission as announced from time to time, for a period of
one year from the date on which the Exchange Offer is Consummated or such
shorter period as will terminate when all Transfer Restricted Securities covered
by such Registration Statement have been sold pursuant thereto. The Company
shall provide sufficient copies of the latest version of such Prospectus to such

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Broker-Dealers, promptly upon request, at any time during such period.

SECTION 4.        SHELF REGISTRATION

                  (a) Shelf Registration. If (i) the Exchange Offer Registration
Statement is not required to be filed or the Exchange Offer is not permitted by
applicable law or Commission policy (after the Company has complied with the
procedures set forth in Section 6(a)(iii)(A) hereof) or (ii) any Holder of
Transfer Restricted Securities shall notify the Company within 20 business days
following the Consummation of the Exchange Offer that (A) such Holder was
prohibited by applicable law or Commission policy from participating in the
Exchange Offer, (B) such Holder may not resell the Exchange Notes acquired by it
in the Exchange Offer to the public without delivering a prospectus and the
Prospectus contained in the Exchange Offer Registration Statement is not
appropriate or available for such resales by such Holder or (C) such Holder is a
Broker-Dealer and holds Notes acquired directly from the Company or any
Affiliate of the Company, then the Company shall:

                  (I) cause to be filed, on or prior to 90 days after the
earlier of (x) the date on which the Company determines that the Exchange Offer
Registration Statement cannot be filed as a result of clause (a)(i) of this
Section and (y) the date on which the Company receives the notice specified in
clause (a)(ii) of this Section (such earlier date, the "FILING DEADLINE"), a
shelf registration statement pursuant to Rule 415 under the Act (which may be an
amendment to the Exchange Offer Registration Statement (in either event, the
"SHELF REGISTRATION STATEMENT")), relating to all Transfer Restricted
Securities; and

                  (II) use its commercially reasonable efforts to cause such
Shelf Registration Statement to become effective on or prior to 90 days after
the Filing Deadline for the Shelf Registration Statement (the "EFFECTIVENESS
DEADLINE").

                  If, after the Company has filed an Exchange Offer Registration
Statement that satisfies the requirements of Section 3(a) above, the Company is
required to file and make effective a Shelf Registration Statement solely
because the Exchange Offer is not permitted under applicable law or Commission
policy, then the filing of the Exchange Offer Registration Statement shall be
deemed to satisfy the requirements of clause (I) above; provided that, in such
event, the Company shall remain obligated to meet the Effectiveness Deadline in
the manner set forth in clause (II) above.

                  To the extent necessary to ensure that the Shelf Registration
Statement is available for sales of Transfer Restricted Securities by the
Holders thereof entitled to the benefit of this Section 4(a) and the other
securities required to be registered therein pursuant to Section 6(b)(ii)
hereof, the Company shall use its commercially reasonable efforts to keep any
Shelf Registration Statement required by this Section 4(a) continuously
effective, supplemented, amended and current as required by and subject to the
provisions of Sections 6(b) and (c) hereof and in conformity with the
requirements of this Agreement, the Act and the policies, rules and regulations
of the Commission as announced from time to time, for a period of at least two
years (as extended pursuant to Section 6(c)(i) hereof) following the Closing
Date, or such shorter period as will terminate when all Transfer Restricted
Securities covered by such Shelf

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Registration Statement have been sold pursuant thereto.

                  (b) Provision by Holders of Certain Information in Connection
with the Shelf Registration Statement. No Holder of Transfer Restricted
Securities may include any of its Transfer Restricted Securities in any Shelf
Registration Statement pursuant to this Agreement unless and until such Holder
furnishes to the Company in writing, within 20 days after receipt of a request
therefor, the information specified in Item 507 or 508 of Regulation S-K, as
applicable, of the Act for use in connection with any Shelf Registration
Statement or Prospectus or preliminary Prospectus included therein. No Holder of
Transfer Restricted Securities shall be entitled to liquidated damages pursuant
to Section 5 hereof unless and until such Holder shall have provided all such
information. By its acceptance of Transfer Restricted Securities, each Holder
agrees to promptly furnish additional information required to be disclosed in
order to make the information previously furnished to the Company by such Holder
not materially misleading.

SECTION 5.        LIQUIDATED DAMAGES

                  If (a) any Registration Statement required by this Agreement
is not filed with the Commission on or prior to the applicable Filing Deadline,
(b) any such Registration Statement has not been declared effective by the
Commission on or prior to the applicable Effectiveness Deadline, (c) the
Exchange Offer has not been Consummated on or prior to the Consummation Deadline
or (d) any Registration Statement required by this Agreement is filed and
declared effective but shall thereafter cease to be effective or fail to be
usable for its intended purpose during the periods in which it is required to be
effective pursuant to Section 3 or 4 without being succeeded within two Business
Days by a post-effective amendment to such Registration Statement that cures
such failure and that is itself declared effective within five Business Days
after filing such post-effective amendment to such Registration Statement (each
such event referred to in clauses (a) through (d), a "REGISTRATION DEFAULT"),
then the Company hereby agrees to pay to each Holder of Transfer Restricted
Securities affected thereby liquidated damages in an amount equal to $0.05 per
week per $1,000 in principal amount of Transfer Restricted Securities held by
such Holder for the first 90-day period immediately following the occurrence of
such Registration Default. The amount of the liquidated damages shall increase
by an additional $0.05 per week per $1,000 in principal amount of Transfer
Restricted Securities with respect to each subsequent 90-day period until all
Registration Defaults have been cured, up to a maximum amount of liquidated
damages of $0.50 per week per $1,000 in principal amount of Transfer Restricted
Securities; provided that the Company shall in no event be required to pay
liquidated damages for more than one Registration Default at any given time.
Notwithstanding anything to the contrary set forth herein, (i) upon filing of
the Exchange Offer Registration Statement (and/or, if applicable, the Shelf
Registration Statement), in the case of (a) above, (ii) upon the effectiveness
of the Exchange Offer Registration Statement (and/or, if applicable, the Shelf
Registration Statement), in the case of (b) above, (iii) upon Consummation of
the Exchange Offer, in the case of (c) above, or (iv) upon the filing of a
post-effective amendment to the Registration Statement or an additional
Registration Statement that causes the Exchange Offer Registration Statement
(and/or, if applicable, the Shelf Registration Statement) to again be declared
effective or made usable, in the case of (d) above, the liquidated damages
payable with respect to the Transfer Restricted Securities as a result of such
clause (a), (b), (c) or (d), as

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applicable, shall cease to accrue.

                  All accrued liquidated damages shall be paid to the Holders
entitled thereto, in the manner provided for the payment of interest in the
Indenture, on each Interest Payment Date, as more fully set forth in the
Indenture and the Notes and the Exchange Notes. Notwithstanding the fact that
any securities for which liquidated damages are due cease to be Transfer
Restricted Securities, all obligations of the Company to pay liquidated damages
with respect to securities shall survive until such time as such obligations
with respect to such securities shall have been satisfied in full.

SECTION 6.        REGISTRATION PROCEDURES

                  (a) Exchange Offer Registration Statement. In connection with
the Exchange Offer, the Company shall (i) comply with all applicable provisions
of Section 6(c) below, (ii) use its commercially reasonable efforts to effect
such exchange and to permit the resale of Exchange Notes by any Broker-Dealer
that tendered Notes in the Exchange Offer that such Broker-Dealer acquired for
its own account as a result of its market-making activities or other trading
activities (other than Notes acquired directly from the Company or any Affiliate
of the Company) being sold in accordance with the intended method or methods of
distribution thereof, and (iii) comply with all of the following provisions:

                  (A) If, following the date hereof, there has been announced a
         change in Commission policy with respect to exchange offers such as the
         Exchange Offer that in the reasonable opinion of counsel to the Company
         raises a substantial question as to whether the Exchange Offer is
         permitted by applicable federal law or Commission policy, the Company
         hereby agrees to seek a no-action letter or other favorable decision
         from the Commission allowing the Company to Consummate an Exchange
         Offer for such Transfer Restricted Securities. The Company hereby
         agrees to pursue the issuance of such a decision to the Commission
         staff level. In connection with the foregoing, the Company hereby
         agrees to take all such other actions as may be requested by the
         Commission or otherwise required in connection with the issuance of
         such decision, including without limitation (I) participating in
         telephonic conferences with the Commission staff, (II) delivering to
         the Commission staff an analysis prepared by counsel to the Company
         setting forth the legal bases, if any, upon which such counsel has
         concluded that such an Exchange Offer should be permitted and (III)
         diligently pursuing a resolution (which need not be favorable) by the
         Commission staff.

                  (B) As a condition to its participation in the Exchange Offer,
         each Holder of Transfer Restricted Securities (including, without
         limitation, any Holder who is a Broker-Dealer) shall furnish, upon the
         request of the Company, prior to the Consummation of the Exchange
         Offer, a written representation to the Company (which may be contained
         in the letter of transmittal contemplated by the Exchange Offer
         Registration Statement) to the effect that (I) it is not an Affiliate
         of the Company, (II) it is not engaged in, and does not intend to
         engage in, and has no arrangement or understanding with any person to
         participate in, a distribution of the Exchange Notes to be issued in
         the Exchange Offer, (III) it is acquiring the Exchange Notes in its
         ordinary course of business and (IV) such

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         other representations as may be necessary under applicable Commission
         rules, regulations or interpretations. Each Holder using the Exchange
         Offer to participate in a distribution of the Exchange Notes will be
         required to acknowledge and agree that, if the resales are of Exchange
         Notes obtained by such Holder in exchange for Notes acquired directly
         from the Company or an Affiliate thereof, it (1) could not, under
         Commission policy as in effect on the date of this Agreement, rely on
         the position of the Commission enunciated in Morgan Stanley and Co.,
         Inc. (available June 5, 1991) and Exxon Capital Holdings Corporation
         (available May 13, 1988), as interpreted in the Commission's letter to
         Shearman & Sterling dated July 2, 1993, and similar no-action letters
         (including, if applicable, any no-action letter obtained pursuant to
         clause (A) above), and (2) must comply with the registration and
         prospectus delivery requirements of the Act in connection with a
         secondary resale transaction and that such a secondary resale
         transaction must be covered by an effective registration statement
         containing the selling security holder information required by Item 507
         or 508, as applicable, of Regulation S-K.

                  (C) Prior to effectiveness of the Exchange Offer Registration
         Statement, the Company shall provide a supplemental letter to the
         Commission (I) stating that the Company is registering the Exchange
         Offer in reliance on the position of the Commission enunciated in Exxon
         Capital Holdings Corporation (available May 13, 1988), Morgan Stanley
         and Co., Inc. (available June 5, 1991), as interpreted in the
         Commission's letter to Shearman & Sterling dated July 2, 1993, and, if
         applicable, any no-action letter obtained pursuant to clause (A) above,
         (II) including a representation that the Company has not entered into
         any arrangement or understanding with any Person to distribute the
         Exchange Notes to be received in the Exchange Offer and that, to the
         best of the Company's information and belief, each Holder participating
         in the Exchange Offer is acquiring the Exchange Notes in its ordinary
         course of business and has no arrangement or understanding with any
         Person to participate in the distribution of the Exchange Notes
         received in the Exchange Offer and (III) any other undertaking or
         representation required by the Commission as set forth in any no-action
         letter obtained pursuant to clause (A) above, if applicable.

                  (b) Shelf Registration Statement. In connection with the Shelf
Registration Statement, the Company shall:

                           (i)      comply with all the provisions of Section
6(c) and (d) below and use its commercially reasonable efforts to effect such
registration to permit the sale of the Transfer Restricted Securities being sold
in accordance with the intended method or methods of distribution thereof (as
indicated in the information furnished to the Company pursuant to Section 4(b)
hereof), and pursuant thereto the Company will prepare and file with the
Commission a Registration Statement relating to the registration on any
appropriate form under the Act, which form shall be available for the sale of
the Transfer Restricted Securities in accordance with the intended method or
methods of distribution thereof within the time periods and otherwise in
accordance with the provisions hereof; and

                           (ii)     issue, upon the request of any Holder or
purchaser of Notes covered by any Shelf Registration Statement contemplated by
this Agreement, Exchange Notes

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having an aggregate principal amount equal to the aggregate principal amount of
Notes sold pursuant to the Shelf Registration Statement and surrendered to the
Company for cancellation; the Company shall register the Exchange Notes on the
Shelf Registration Statement for this purpose and issue the Exchange Notes to
the purchaser(s) of securities subject to the Shelf Registration Statement in
such names as the purchaser(s) shall designate.

                  (c) General Provisions. In connection with any Registration
Statement and any related Prospectus required by this Agreement, the Company
shall:

                           (i)      use its commercially reasonable efforts to
keep such Registration Statement continuously effective and provide all
requisite financial statements for the period specified in Section 3 or 4
hereof, as applicable. Upon the occurrence of any event that would cause any
such Registration Statement or the Prospectus contained therein (A) to contain
an untrue statement of material fact or omit to state any material fact
necessary to make the statements therein not misleading or (B) not to be
effective and usable for resale of Transfer Restricted Securities during the
periods required by this Agreement, the Company shall file promptly an
appropriate amendment to such Registration Statement curing such defect, and, if
Commission review is required, use its commercially reasonable efforts to cause
such amendment to be declared effective as soon as practicable. If at any time
the Commission shall issue any stop order suspending the effectiveness of any
Registration Statement, or any state securities commission or other regulatory
authority shall issue an order suspending the qualification or exemption from
qualification of the Transfer Restricted Securities under state securities or
Blue Sky laws, the Company shall use its commercially reasonable efforts to
obtain the withdrawal or lifting of such order at the earliest possible time;

                           (ii)     use its commercially reasonable efforts to
prepare and file with the Commission such amendments and post-effective
amendments to the applicable Registration Statement as may be necessary to keep
such Registration Statement effective for the applicable period set forth in
Section 3 or 4 hereof, as the case may be; use its commercially reasonable
efforts to cause the Prospectus to be supplemented by any required Prospectus
supplement, and as so supplemented to be filed pursuant to Rule 424 under the
Act, and to comply fully with Rules 424, 430A and 462, as applicable, under the
Act in a timely manner during the applicable period; and comply with the
provisions of the Act with respect to the disposition of all securities covered
by such Registration Statement during the applicable period in accordance with
the intended method or methods of distribution by the sellers thereof set forth
in such Registration Statement or supplement to the Prospectus;

                           (iii)    in connection with any sale of Transfer
Restricted Securities that will result in such securities no longer being
Transfer Restricted Securities, cooperate with the Holders to facilitate the
timely preparation and delivery of certificates representing Transfer Restricted
Securities to be sold and not bearing any restrictive legends; and to register
such Transfer Restricted Securities in such denominations and such names as the
selling Holders may request at least two Business Days prior to such sale of
Transfer Restricted Securities;

                           (iv)     use its commercially reasonable efforts to
cause the disposition of the Transfer Restricted Securities covered by the
Registration Statement to be registered with or

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11

approved by such other governmental agencies or authorities as may be necessary
to enable the seller or sellers thereof to consummate the disposition of such
Transfer Restricted Securities; provided, however, that the Company shall not be
required to register or qualify as a foreign corporation where it is not now so
qualified or to take any action that would subject it to the service of process
in suits or to taxation, other than as to matters and transactions relating to
the Registration Statement, in any jurisdiction where it is not now so subject;

                           (v)      provide a CUSIP number for all Transfer
Restricted Securities not later than the effective date of a Registration
Statement covering such Transfer Restricted Securities and provide the Trustee
under the Indenture with certificates for the Transfer Restricted Securities
which are in a form eligible for deposit with the Depositary under the
Indenture;

                           (vi)     otherwise (A) use its commercially
reasonable efforts to comply with all applicable rules and regulations of the
Commission, and (B) make generally available to its security holders with regard
to any applicable Registration Statement, as soon as reasonably practicable, a
consolidated earnings statement meeting the requirements of Rule 158 (which need
not be audited) covering a twelve-month period beginning after the effective
date of the Registration Statement (as such term is defined in paragraph (c) of
Rule 158 under the Act); and

                           (vii)    cause the Indenture to be deemed qualified
under the TIA upon the effectiveness of the applicable Registration Statement
required by this Agreement and, in connection therewith, cooperate with the
Trustee and the Holders to effect such changes to the Indenture as may be
required for such Indenture to be so qualified in accordance with the terms of
the TIA; and execute, and use its commercially reasonable efforts to cause the
Trustee to execute, all documents that may be required to effect such changes
and all other forms and documents required to be filed with the Commission to
enable such Indenture to be so qualified in a timely manner.

                  (d) Additional Provisions Applicable to Shelf Registration
Statements and Certain Exchange Offer Prospectuses. In connection with each
Shelf Registration Statement, and each Exchange Offer Registration Statement if
and to the extent that an Initial Purchaser has notified the Company that it is
a holder of Exchange Notes that are Transfer Restricted Securities (for so long
as such Exchange Notes are Transfer Restricted Securities or for the period
provided in Section 3 hereof, whichever is shorter), the Company shall:

                           (i)      advise each selling Holder promptly and, if
requested by such Holder, confirm such advice in writing, (A) when the
Prospectus or any Prospectus supplement or post-effective amendment has been
filed, and, with respect to any applicable Registration Statement or any
post-effective amendment thereto, when the same has become effective, (B) of any
request by the Commission for amendments to the Registration Statement or
amendments or supplements to the Prospectus or for additional information
relating thereto, (C) of the issuance by the Commission of any stop order
suspending the effectiveness of the Registration Statement under the Act or of
the suspension by any state securities commission of the qualification of the
Transfer Restricted Securities for offering or sale in any jurisdiction, or the
initiation of any proceeding for any of the preceding purposes, (D) of the
existence of any fact or the happening of

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any event that makes any statement of a material fact made in the Registration
Statement, the Prospectus, any amendment or supplement thereto or any document
incorporated by reference therein untrue, or that requires the making of any
additions to or changes in the Registration Statement in order to make the
statements therein not misleading, or that requires the making of any additions
to or changes in the Prospectus in order to make the statements therein, in the
light of the circumstances under which they were made, not misleading (it being
understood that in the case of this clause 6(d)(i)(D), only the existence of the
fact or event must be disclosed and the nature of the facts or events may be
kept confidential for such period as reasonably required for bona fide business
reasons);

                           (ii)     if any fact or event contemplated by Section
6(d)(i)(D) above shall exist or have occurred, prepare a supplement or
post-effective amendment to the Registration Statement or related Prospectus or
any document incorporated therein by reference or file any other required
document so that, as thereafter delivered to the purchasers of Transfer
Restricted Securities, the Prospectus will not contain an untrue statement of a
material fact or omit to state any material fact necessary to make the
statements therein, in the light of the circumstances under which they were
made, not misleading;

                           (iii)    subject to Section 6(e), furnish to each
selling Holder in connection with such exchange or sale, if any, before filing
with the Commission, copies of any Registration Statement or any Prospectus
included therein (except the Prospectus included in the Exchange Offer
Registration Statement at the time it was declared effective) or any amendments
or supplements to any such Registration Statement or Prospectus (including all
documents incorporated by reference after the initial filing of such
Registration Statement), which documents will be subject to the review and
comment of such Holders in connection with such sale, if any, for a period of at
least five Business Days, and the Company will not file any such Registration
Statement or Prospectus or any amendment or supplement to any such Registration
Statement or Prospectus (including all such documents incorporated by reference)
to which a Holder of Transfer Restricted Securities covered by such Registration
Statement shall reasonably object in writing within five Business Days after the
receipt thereof. A Holder shall be deemed to have reasonably objected to such
filing if such Registration Statement, amendment, Prospectus or supplement, as
applicable, as proposed to be filed, contains an untrue statement of a material
fact or omits to state any material fact necessary to make the statements
therein not misleading or fails to comply with the applicable requirements of
the Act;

                           (iv)     promptly prior to the filing of any document
that is to be incorporated by reference into a Registration Statement or
Prospectus, provide copies of such document to each selling Holder named in the
Registration Statement in connection with such exchange or sale, if any, make
the Company's representatives available as may be reasonably necessary for
discussion of such document and other customary due diligence matters, and
include such information in such document prior to the filing thereof as such
Holders may reasonably request;

                           (v)      make available, subject to appropriate
confidentiality agreements, during reasonable business hours, for inspection in
the offices where such records are normally maintained by each selling Holder
and any attorney or accountant retained by such selling

<PAGE>

13

Holders, all relevant financial and other records, pertinent corporate documents
of the Company as may be reasonably necessary to enable them to exercise the
appropriate due diligence responsibility, and cause the Company's officers,
directors and employees to supply all information that is (a) reasonably
requested by any such selling Holder, attorney or accountant in connection with
such Registration Statement or any post-effective amendment thereto subsequent
to the filing thereof and prior to its effectiveness and (b) customarily
furnished in transactions of the type contemplated by such Registration
Statement;

                           (vi)     if requested by any selling Holders in
connection with such exchange or sale, promptly include in any Registration
Statement or Prospectus, pursuant to a supplement or post-effective amendment if
necessary, such information as such selling Holders may reasonably request to
have included therein, including, without limitation, information relating to
the "Plan of Distribution" of the Transfer Restricted Securities; and make all
required filings of such Prospectus supplement or post-effective amendment as
soon as practicable after the Company is notified of the matters to be included
in such Prospectus supplement or post-effective amendment;

                           (vii)    furnish to each selling Holder in connection
with such exchange or sale without charge, at least one copy of the Registration
Statement, as first filed with the Commission, and of each amendment thereto,
including all documents incorporated by reference therein and all exhibits
(including exhibits incorporated therein by reference);

                           (viii)   deliver to each selling Holder without
charge, as many copies of the Prospectus (including each preliminary prospectus)
and any amendment or supplement thereto as such Holders reasonably may request;
the Company hereby consents to the use (in accordance with law) of the
Prospectus and any amendment or supplement thereto by each selling Holder in
connection with the offering and the sale of the Transfer Restricted Securities
covered by the Prospectus or any amendment or supplement thereto;

                           (ix)     upon the request of any selling Holder,
enter into such agreements (including underwriting agreements) and make such
reasonable representations and warranties and take all such other reasonable
actions in connection therewith in order to expedite or facilitate the
disposition of the Transfer Restricted Securities pursuant to any applicable
Registration Statement contemplated by this Agreement as may be reasonably
requested by any Holder in connection with any sale or resale pursuant to any
applicable Registration Statement contemplated by this Agreement, which
agreements must be in customary form. In such connection, the Company shall:

                  (A) upon request of any selling Holder, furnish (or in the
         case of paragraphs (2) and (3), use its commercially reasonable efforts
         to cause to be furnished) to each selling Holder, upon Consummation of
         the Exchange Offer or upon the effectiveness of the Shelf Registration
         Statement, as the case may be:

                  (1) a certificate, dated such date, signed on behalf of the
         Company by an appropriate officer of the Company confirming, as of the
         date thereof, the accuracy of the representations and warranties made
         by the Company in the Purchase Agreement as if

<PAGE>

14

         made on such date, (ii) the matters set forth in Sections 5(o), 5(p)
         and 5(r) of the Purchase Agreement, and such other similar matters as
         such Holders may reasonably request;

                  (2) an opinion, dated the date of Consummation of the Exchange
         Offer or the date of effectiveness of the Shelf Registration Statement,
         as the case may be, of counsel for the Company (which may include
         in-house counsel of the Company) covering matters customarily covered
         in such opinions as such parties may reasonably request, and in any
         event including a statement to the effect that such counsel has
         participated in conferences with officers and other representatives of
         the Company and representatives of the independent public accountants
         for the Company, and has considered the matters required to be stated
         therein and the statements contained therein, although such counsel has
         not independently verified the accuracy, completeness or fairness of
         such statements; and that such counsel advises that, on the basis of
         the foregoing, no facts came to such counsel's attention that caused
         such counsel to believe that the applicable Registration Statement, at
         the time such Registration Statement or any post-effective amendment
         thereto became effective and, in the case of the Exchange Offer
         Registration Statement, as of the date of Consummation of the Exchange
         Offer, contained an untrue statement of a material fact or omitted to
         state a material fact required to be stated therein or necessary to
         make the statements therein not misleading, or that the Prospectus
         contained in such Registration Statement as of its date and, in the
         case of the opinion dated the date of Consummation of the Exchange
         Offer, as of the date of Consummation, contained an untrue statement of
         a material fact or omitted to state a material fact necessary in order
         to make the statements therein, in the light of the circumstances under
         which they were made, not misleading. Without limiting the foregoing,
         such counsel may state further that such counsel assumes no
         responsibility for, and has not independently verified, the accuracy,
         completeness or fairness of the financial statements, notes and
         schedules and other financial data included in any Registration
         Statement contemplated by this Agreement or the related Prospectus; and

                  (3) a customary comfort letter, dated the date of Consummation
         of the Exchange Offer, or as of the date of effectiveness of the Shelf
         Registration Statement, as the case may be, from the Company's
         independent accountants, in the customary form and covering matters of
         the type customarily covered in comfort letters to underwriters in
         connection with underwritten offerings;

                  (B) deliver such other documents and certificates as may be
         reasonably requested by the selling Holders to evidence compliance with
         the matters covered in clause (A) above and with any customary
         conditions contained in any agreement entered into by the Company
         pursuant to this clause (ix);

                           (x)      prior to any public offering of Transfer
Restricted Securities, cooperate with the selling Holders and their counsel in
connection with the registration and qualification of the Transfer Restricted
Securities under the securities or Blue Sky laws of such jurisdictions as the
selling Holders may reasonably request and do any and all other acts or things
reasonably necessary or advisable to enable the disposition in such
jurisdictions of the Transfer Restricted Securities covered by the applicable
Registration Statement; provided, however, that

<PAGE>

15

the Company shall not be required to register or qualify as a foreign
corporation where it is not now so qualified or to take any action that would
subject it to the service of process in suits or to taxation, other than as to
matters and transactions relating to the Registration Statement, in any
jurisdiction where it is not now so subject; and

                           (xi)     provide promptly to each Holder, upon
request, each document filed with the Commission pursuant to the requirements of
Section 13 or Section 15(d) of the Exchange Act.

                  (e) Restrictions on Holders. Each Holder's acquisition of a
Transfer Restricted Security constitutes such Holder's agreement that, upon
receipt of the notice referred to in Section 6(d)(i)(C) or any notice from the
Company of the existence of any fact of the kind described in Section 6(d)(i)(D)
hereof (a "SUSPENSION NOTICE"), such Holder will forthwith discontinue
disposition of Transfer Restricted Securities pursuant to the applicable
Registration Statement until (i) such Holder has received copies of the
supplemented or amended Prospectus contemplated by Section 6(d)(ii) hereof or
(ii) such Holder is advised in writing by the Company that the use of the
Prospectus may be resumed, and has received copies of any additional or
supplemental filings that are incorporated by reference in the Prospectus (in
each case, the "RECOMMENCEMENT DATE"). Each Holder receiving a Suspension Notice
shall be required to either (I) destroy any Prospectuses, other than permanent
file copies, then in such Holder's possession which have been replaced by the
Company with more recently dated Prospectus or (II) deliver to the Company (at
the Company's expense) all copies, other than permanent file copies, then in
such Holder's possession of the Prospectuses covering such Transfer Restricted
Securities that was current at the time of receipt of the Suspension Notice. The
time period regarding the effectiveness of such Registration Statement set forth
in Section 3 or 4 hereof, as applicable, shall be extended by a number of days
equal to the number of days in the period from and including the date of
delivery of the Suspension Notice to the Recommencement Date.

SECTION 7.        REGISTRATION EXPENSES

                  (a) All expenses incident to the Company's performance of or
compliance with this Agreement will be borne by the Company, regardless of
whether a Registration Statement becomes effective, including without
limitation: (i) all registration and filing fees and expenses; (ii) all fees and
expenses of compliance with federal securities and state Blue Sky or securities
laws; (iii) all expenses of printing (including certificates for the Exchange
Notes to be issued in the Exchange Offer and printing of Prospectuses),
messenger and delivery services and telephone; (iv) all fees and disbursements
of counsel for the Company and one counsel for the Holders of Transfer
Restricted Securities (which shall be Paul, Weiss, Rifkind, Wharton & Garrison
LLP or such other counsel as may be selected by the Holders of a majority in
principal amount of the Transfer Restricted Securities for whose benefit such
Registration Statement is being prepared); (v) all application and filing fees
in connection with listing the Exchange Notes on a national securities exchange
or automated quotation system pursuant to the requirements hereof; and (vi) all
fees and disbursements of independent certified public accountants of the
Company (including the expenses of any special audit and comfort letters
required by or incident to such performance).

<PAGE>

16

                  The Company will, in any event, bear its internal expenses
(including, without limitation, all salaries and expenses of its officers and
employees performing legal or accounting duties), the expenses of any annual
audit and the fees and expenses of any Person, including special experts,
retained by the Company.

                  (b) In connection with any Registration Statement required by
this Agreement (including, without limitation, the Exchange Offer Registration
Statement and the Shelf Registration Statement), the Company will reimburse the
Initial Purchasers and the Holders of Transfer Restricted Securities who are
tendering Notes into in the Exchange Offer and/or selling or reselling Notes or
Exchange Notes pursuant to the "Plan of Distribution" contained in the Exchange
Offer Registration Statement or the Shelf Registration Statement, as applicable,
for the reasonable fees and disbursements of not more than one counsel (who
shall be Paul, Weiss, Rifkind, Wharton & Garrison LLP unless another firm shall
be chosen by the Initial Purchasers or the Holders of a majority in principal
amount of the Transfer Restricted Securities for whose benefit such Registration
Statement is being prepared). Each Holder shall pay all expenses of its counsel
except as set forth in this Section, all underwriting discounts and commissions
and transfer taxes, if any, relating to the sale or disposition of such Holder's
Transfer Restricted Securities pursuant to a Shelf Registration Statement.

SECTION 8.        INDEMNIFICATION

                  (a) The Company agrees to indemnify and hold harmless each
Holder, its directors, officers and each Person, if any, who controls such
Holder (within the meaning of Section 15 of the Act or Section 20 of the
Exchange Act), from and against any and all losses, claims, damages, liabilities
or judgments (including without limitation, any legal or other expenses incurred
in connection with investigating or defending any matter, including any action
that could give rise to any such losses, claims, damages, liabilities or
judgments) caused by any untrue statement or alleged untrue statement of a
material fact contained in any Registration Statement, preliminary prospectus or
Prospectus (or any amendment or supplement thereto) provided by the Company to
any Holder or any prospective purchaser of Exchange Notes or registered Notes,
or caused by any omission or alleged omission to state therein a material fact
required to be stated therein or necessary to make the statements therein not
misleading, except insofar as such losses, claims, damages, liabilities or
judgments are caused by an untrue statement or omission or alleged untrue
statement or omission that is based upon information relating to any of the
Holders furnished in writing to the Company by any of the Holders expressly for
use in any Registration Statement; provided, however, that the Company shall not
be liable to any indemnified party (as defined below) under this Section 8 to
the extent, but only to the extent, that (i) such loss, claim, damage or
liability of such indemnified party results in connection with an initial resale
by such indemnified party, (ii) such loss, claim, damage or liability of such
indemnified party results from an untrue statement of a material fact or an
omission of a material fact contained in the preliminary prospectus, which
untrue statement or omission was completely corrected in the Prospectus, (iii)
the Company had previously furnished sufficient quantities of the Prospectus to
such indemnified party within a reasonable amount of time prior to such sale,
(iv) such indemnified party failed to deliver the Prospectus in connection with
such initial resale and (v) the Company sustains the burden of proving that such
indemnified party sold the Notes to the person alleging such loss, claim, damage
or liability without sending

<PAGE>

17

or giving, at or prior to written confirmation of such sale, a copy of the
Prospectus.

                  (b) By its acquisition of Transfer Restricted Securities, each
Holder of Transfer Restricted Securities agrees, severally and not jointly, to
indemnify and hold harmless the Company, and its directors and officers, and
each person, if any, who controls (within the meaning of Section 15 of the Act
or Section 20 of the Exchange Act) the Company to the same extent as the
foregoing indemnity from the Company set forth in Section 8(a) hereof, but only
with reference to information relating to such Holder furnished in writing to
the Company by such Holder expressly for use in any Registration Statement. In
no event shall any Holder, its directors, officers or any Person who controls
such Holder be liable or responsible for any amount in excess of the amount by
which the total amount received by such Holder with respect to its sale of
Transfer Restricted Securities pursuant to a Registration Statement exceeds (i)
the amount paid by such Holder for such Transfer Restricted Securities and (ii)
the amount of any damages that such Holder, its directors, officers or any
Person who controls such Holder has otherwise been required to pay by reason of
such untrue or alleged untrue statement or omission or alleged omission.

                  (c) In case any action shall be commenced involving any Person
in respect of which indemnity may be sought pursuant to Section 8(a) or (b)
hereof (the "INDEMNIFIED PARTY"), the indemnified party shall promptly notify
the Person against whom such indemnity may be sought (the "INDEMNIFYING PARTY")
in writing and the indemnifying party shall assume the defense of such action,
including the employment of counsel reasonably satisfactory to the indemnified
party and the payment of all fees and expenses of such counsel, as incurred
(except that in the case of any action in respect of which indemnity may be
sought pursuant to both Sections 8(a) and (b) hereof, a Holder shall not be
required to assume the defense of such action pursuant to this Section 8(c), but
may employ separate counsel and participate in the defense thereof, but the fees
and expenses of such counsel, except as provided below, shall be at the expense
of the Holder). Any indemnified party shall have the right to employ separate
counsel in any such action and participate in the defense thereof, but the fees
and expenses of such counsel shall be at the expense of the indemnified party
unless (i) the employment of such counsel shall have been specifically
authorized in writing by the indemnifying party, (ii) the indemnifying party
shall have failed to assume the defense of such action or (iii) the named
parties to any such action (including any impleaded parties) include both the
indemnified party and the indemnifying party, and the indemnified party shall
have been advised by its counsel that there may be one or more legal defenses
available to it which are different from or additional to those available to the
indemnifying party (in which case the indemnifying party shall not have the
right to assume the defense of such action on behalf of the indemnified party).
In any such case, the indemnifying party shall not, in connection any one action
or separate but substantially similar or related actions in the same
jurisdiction arising out of the same general allegations or circumstances, be
liable for the fees and expenses of more than one separate firm of attorneys (in
addition to any local counsel) for all indemnified parties and all such
reasonable fees and expenses shall be reimbursed as they are incurred. Such firm
shall be designated in writing by a majority of the Holders, in the case of the
parties indemnified, pursuant to Section 8(a) hereof, and by the Company, in the
case of parties indemnified, pursuant to Section 8(b) hereof. The indemnifying
party shall indemnify and hold harmless the indemnified party from and against
any and all losses, claims, damages, liabilities and judgments by reason of any
settlement of any action (A)

<PAGE>

18

effected with its written consent or (B) effected without its written consent if
the settlement is entered into more than twenty business days after the
indemnifying party shall have received a request from the indemnified party for
reimbursement for the fees and expenses of counsel (in any case where such fees
and expenses are at the expense of the indemnifying party) and, prior to the
date of such settlement, the indemnifying party shall have failed to comply with
such reimbursement request. No indemnifying party shall, without the prior
written consent of the indemnified party, effect any settlement or compromise
of, or consent to the entry of judgment with respect to, any pending or
threatened action in respect of which the indemnified party is or could have
been a party and indemnity or contribution may be or could have been sought
hereunder by the indemnified party, unless such settlement, compromise or
judgment (I) includes an unconditional release of the indemnified party from all
liability on claims that are or could have been the subject matter of such
action and (II) does not include a statement as to or an admission of fault,
culpability or a failure to act, by or on behalf of the indemnified party.

                  (d) To the extent that the indemnification provided for in
this Section 8 is unavailable to an indemnified party in respect of any losses,
claims, damages, liabilities or judgments referred to herein, then each
indemnifying party, in lieu of indemnifying such indemnified party shall
contribute to the amount paid or payable by such indemnified party as a result
of such losses, claims, damages, liabilities or judgments (i) in such proportion
as is appropriate to reflect the relative benefits received by the Company on
the one hand, and the Holders, on the other hand, from their initial sale of
Transfer Restricted Securities (or in the case of Exchange Notes that are
Transfer Restricted Securities, the sale of the Notes for which such Exchange
Notes were exchanged) or (ii) if the allocation provided by clause 8(d)(i) above
is not permitted by applicable law, in such proportion as is appropriate to
reflect not only the relative benefits referred to in such clause 8(d)(i) but
also the relative fault of the Company, on the one hand, and of the Holder, on
the other hand, in connection with the statements or omissions which resulted in
such losses, claims, damages, liabilities or judgments, as well as any other
relevant equitable considerations. The relative fault of the Company, on the one
hand, and of the Holder, on the other hand, shall be determined by reference to,
among other things, whether the untrue or alleged untrue statement of a material
fact or the omission or alleged omission to state a material fact relates to
information supplied by the Company, on the one hand, or by the Holder, on the
other hand, and the parties' relative intent, knowledge, access to information
and opportunity to correct or prevent such statement or omission. The amount
paid or payable by a party as a result of the losses, claims, damages,
liabilities and judgments referred to above shall be deemed to include, subject
to the limitations set forth in Section 8(c) hereof, any legal or other fees or
expenses reasonably incurred by such party in connection with investigating or
defending any action or claim.

                  The Company and, by its acquisition of Transfer Restricted
Securities, each Holder agree that it would not be just and equitable if
contribution pursuant to this Section 8(d) were determined by pro rata
allocation (even if the Holders were treated as one entity for such purpose) or
by any other method of allocation which does not take account of the equitable
considerations referred to in the immediately preceding paragraph. The amount
paid or payable by an indemnified party as a result of the losses, claims,
damages, liabilities or judgments referred to in the immediately preceding
paragraph shall be deemed to include, subject to the limitations set forth
above, any legal or other expenses reasonably incurred by such indemnified

<PAGE>

19

party in connection with investigating or defending any matter, including any
action that could have given rise to such losses, claims, damages, liabilities
or judgments. Notwithstanding the provisions of this Section 8, no Holder, its
directors, its officers or any Person, if any, who controls such Holder shall be
required to contribute, in the aggregate, any amount in excess of the amount by
which the total received by such Holder with respect to the sale of Transfer
Restricted Securities pursuant to a Registration Statement exceeds (i) the
amount paid by such Holder for such Transfer Restricted Securities and (ii) the
amount of any damages which such Holder has otherwise been required to pay by
reason of such untrue or alleged untrue statement or omission or alleged
omission. No Person guilty of fraudulent misrepresentation (within the meaning
of Section 11(f) of the Act) shall be entitled to contribution from any Person
who was not guilty of such fraudulent misrepresentation. The Holders'
obligations to contribute pursuant to this Section 8(d) are several in
proportion to the respective principal amount of Transfer Restricted Securities
held by each Holder hereunder and not joint.

SECTION 9.        RULE 144A AND RULE 144

                  The Company agrees with each Holder, for so long as any
Transfer Restricted Securities remain outstanding and during any period in which
the Company (a) is not subject to Section 13 or 15(d) of the Exchange Act, to
make available, upon request of any Holder of Transfer Restricted Securities, to
such Holder or beneficial owner of Transfer Restricted Securities in connection
with any sale thereof and any prospective purchaser of such Transfer Restricted
Securities designated by such Holder or beneficial owner, the information
required by Rule 144A(d)(4) under the Act in order to permit resales of such
Transfer Restricted Securities pursuant to Rule 144A, and (b) is subject to
Section 13 or 15(d) of the Exchange Act, to make all filings required thereby in
a timely manner in order to permit resales of such Transfer Restricted
Securities pursuant to Rule 144.

SECTION 10.       UNDERWRITTEN REGISTRATIONS

                  No Holder may participate in any Underwritten Registration
unless such Holder (a) agrees to sell such Holder's Transfer Restricted
Securities proposed to be included in such Underwritten Registration on the
basis provided in customary underwriting arrangements entered into in connection
therewith and (b) completes and executes all reasonable questionnaires, powers
of attorney, and other documents required under the terms of such underwriting
arrangements.

SECTION 11.       SELECTION OF UNDERWRITERS

                  For any Underwritten Offering, the investment banker or
investment bankers and manager or managers for any Underwritten Offering that
will administer such offering will be selected by the Holders of a majority in
aggregate principal amount of the Transfer Restricted Securities included in
such offering and consented to by the Company, which consent shall not be
unreasonably withheld. Such investment bankers and managers are referred to
herein as the "underwriters."

SECTION 12.       MISCELLANEOUS

<PAGE>

20

                  (a) Remedies. The Company acknowledges and agrees that any
failure by the Company to comply with its obligations under Sections 3 and 4
hereof may result in material irreparable injury to the Initial Purchasers or
the Holders for which there is no adequate remedy at law, that it will not be
possible to measure damages for such injuries precisely and that, in the event
of any such failure, the Initial Purchasers or any Holder may obtain such relief
as may be required to specifically enforce the Company's obligations under
Sections 3 and 4 hereof. The Company further agrees to waive the defense in any
action for specific performance that a remedy at law would be adequate.

                  (b) No Inconsistent Agreements. The Company will not, on or
after the date of this Agreement, enter into any agreement with respect to its
securities that is inconsistent with the rights granted to the Holders in this
Agreement or otherwise conflicts with the provisions hereof. The Company has not
previously entered into any agreement granting any registration rights with
respect to its securities to any Person that would require such securities to be
included in any Registration Statement filed hereunder. The rights granted to
the Holders hereunder do not in any way conflict with and are not inconsistent
with the rights granted to the holders of the Company's securities under any
agreement in effect on the date hereof.

                  (c) Amendments and Waivers. The provisions of this Agreement
may not be amended, modified or supplemented, and waivers or consents to or
departures from the provisions hereof may not be given unless (i) in the case of
Section 5 hereof and this Section 10(c)(i), the Company has obtained the written
consent of Holders of all outstanding Transfer Restricted Securities and (ii) in
the case of all other provisions hereof, the Company has obtained the written
consent of Holders of a majority of the outstanding principal amount of Transfer
Restricted Securities (excluding Transfer Restricted Securities held by the
Company or any Affiliate of the Company). Notwithstanding the foregoing, a
waiver or consent to departure from the provisions hereof that relates
exclusively to the rights of Holders whose Transfer Restricted Securities are
being tendered pursuant to the Exchange Offer, and that does not affect directly
or indirectly the rights of other Holders whose Transfer Restricted Securities
are not being tendered pursuant to such Exchange Offer, may be given by the
Holders of a majority of the outstanding principal amount of Transfer Restricted
Securities subject to such Exchange Offer.

                  (d) Third Party Beneficiary. The Holders shall be third party
beneficiaries to the agreements made hereunder between the Company, on the one
hand, and the Initial Purchasers, on the other hand, and shall have the right to
enforce such agreements directly to the extent they may deem such enforcement
necessary or advisable to protect their rights hereunder.

                  (e) Notices. All notices and other communications provided for
or permitted hereunder shall be made in writing by hand-delivery, first-class
mail (registered or certified, return receipt requested), telecopier, or air
courier guaranteeing overnight delivery:

                           (i)      if to a Holder, at the address set forth on
the records of the Registrar under the Indenture, with a copy to the Registrar
under the Indenture; and

                           (ii)     if to the Company:

<PAGE>

21

                                    Rural Cellular Corporation
                                    P.O. Box 2000
                                    3905 Dakota Street, S.W.
                                    Alexandria, Minnesota 56308
                                    Telecopier No.: 320-808-2102
                                    Attention: President

                                    With a copy to:

                                    Moss & Barnett, P.C.
                                    4800 Wells Fargo Center
                                    90 South Seventh Street
                                    Minneapolis, Minnesota 55402
                                    Telecopier No.: 612-339-6686
                                    Attention: Richard J. Kelber

                                            And

                                    Skadden, Arps, Slate, Meagher & Flom
                                    (Illinois)
                                    333 West Wacker Drive
                                    Chicago, IL 60606
                                    Telecopier No.: 312-407-0411
                                    Attention: Gary P. Cullen

                  All such notices and communications shall be deemed to have
been duly given at the time delivered by hand, when receipt acknowledged, if
telecopied; and on the next business day, if timely delivered to an air courier
guaranteeing overnight delivery.

                  Copies of all such notices, demands or other communications
shall be concurrently delivered by the Person giving the same to the Trustee at
the address specified in the Indenture.

                  (f) Successors and Assigns. This Agreement shall inure to the
benefit of and be binding upon the successors and assigns of each of the
parties, including without limitation and without the need for an express
assignment, subsequent Holders; provided, however, that this Agreement shall not
inure to the benefit of or be binding upon a successor or assign of a Holder
unless and to the extent such successor or assign acquired Transfer Restricted
Securities; provided, that nothing herein shall be deemed to permit any
assignment, transfer or other disposition of Transfer Restricted Securities in
violation of the terms hereof or of the Purchase Agreement or the Indenture. If
any transferee of any Holder shall acquire Transfer Restricted Securities in any
manner, whether by operation of law or otherwise, such Transfer Restricted
Securities shall be held subject to all of the terms of this Agreement, and by
taking and holding such Transfer Restricted Securities such Person shall be
conclusively deemed to have agreed to be bound by and to perform all of the
terms and provisions of this Agreement, including the restrictions on resale set
forth in this Agreement and, if applicable, the Purchase Agreement, and such
Person shall be entitled to receive the benefits hereof.

<PAGE>

22

                  (g) Counterparts. This Agreement may be executed in any number
of counterparts and by the parties hereto in separate counterparts, each of
which when so executed shall be deemed to be an original and all of which taken
together shall constitute one and the same agreement.

                  (h) Headings. The headings in this Agreement are for
convenience of reference only and shall not limit or otherwise affect the
meaning hereof.

                  (i) Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY, AND
CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD
TO THE RULES OF CONFLICT OF LAWS OF THE STATE OF NEW YORK OR ANY OTHER STATE
THAT WOULD INDICATE THE APPLICABILITY OF THE LAWS OF ANY OTHER JURISDICTION.

                  (j) Severability. In the event that any one or more of the
provisions contained herein, or the application thereof in any circumstance, is
held invalid, illegal or unenforceable, the validity, legality and
enforceability of any such provision in every other respect and of the remaining
provisions contained herein shall not be affected or impaired thereby.

                  (k) Entire Agreement. This Agreement is intended by the
parties as a final expression of their agreement and intended to be a complete
and exclusive statement of the agreement and understanding of the parties hereto
in respect of the subject matter contained herein. There are no restrictions,
promises, warranties or undertakings, other than those set forth or referred to
herein with respect to the registration rights granted with respect to the
Transfer Restricted Securities. This Agreement supersedes all prior agreements
and understandings between the parties with respect to such subject matter.

<PAGE>

23

                  IN WITNESS WHEREOF, the parties have executed this Agreement
as of the date first written above.

                                            RURAL CELLULAR CORPORATION

                                            By: ________________________________
                                            Name:  Wesley E. Schultz
                                            Title: Executive Vice President and
                                                   Chief Financial Officer

LEHMAN BROTHERS INC.
MORGAN STANLEY & CO. INCORPORATED

By LEHMAN BROTHERS INC.,
      As Authorized Representative

By: _________________________
Name:
Title:<PAGE>

                                                                    EXHIBIT 10.1

                                 EXECUTION COPY

                               FOURTH AMENDMENT TO
                    THIRD AMENDED AND RESTATED LOAN AGREEMENT

         THIS FOURTH AMENDMENT TO THIRD AMENDED AND RESTATED LOAN AGREEMENT
(this "Amendment"), dated as of the 1st day of August, 2003 (the "Effective
Date"), by and among RURAL CELLULAR CORPORATION, a Minnesota corporation (the
"Borrower"); the financial institutions signatory hereto (the "Lenders"); and
TORONTO DOMINION (TEXAS), INC., as administrative agent (the "Administrative
Agent") for the Lenders;

                              W I T N E S S E T H:

         WHEREAS, the Borrower, the Administrative Agent and the Lenders are
parties to that certain Third Amended and Restated Loan Agreement, dated as of
June 29, 2000, as amended by that certain First Amendment thereto dated as of
December 14, 2000, that certain Second Amendment thereto dated as of March 31,
2001, that certain Consent Letter dated as of June 5, 2001 and that certain
Consent and Third Amendment thereto dated as of January 10, 2002 (as heretofore
and hereafter amended, modified, supplemented and restated from time to time,
the "Loan Agreement");

         WHEREAS, the Borrower has requested that the Lenders consent to the
issuance of certain senior unsecured indebtedness on the date hereof;

         WHEREAS, after giving effect to this Amendment, (a) the Revolving Loan
Commitment will be $60,000,000, and shall begin amortizing on June 30, 2007,
with a reduction of $8,437,500 and shall thereafter reduce by $17,187,500 on
each quarter end thereafter through March 31, 2008, (b) the outstanding Term
Loan A Loans will be $238,943,865 and shall begin amortizing on June 30, 2005
with a repayment in the amount of $11,908,228 with further repayments thereafter
as set forth in the Loan Agreement, (c) the outstanding Term Loan B Loans will
be $131,456,316 and shall begin amortizing on June 30, 2008 with a repayment in
the amount of $42,810,413 with further repayments as set forth in the Loan
Agreement, (d) the outstanding Term Loan C Loans will be $131,456,316 and shall
begin amortizing on September 30, 2008 with a repayment in the amount of
$42,810,413 with further repayments as set forth in the Loan Agreement, and (e)
the outstanding Incremental Facility D Loans will be $38,867,950 and shall begin
amortizing on June 30, 2009 with a repayment in the amount of $12,933,736 with
further repayments as set forth in that certain Notice of Incremental Facility D
Commitment dated January 2, 2001;

         WHEREAS, the Borrower has requested that the Administrative Agent and
the Lenders amend certain provisions in the Loan Agreement as more specifically
set forth below; and

<PAGE>

         WHEREAS, the Administrative Agent and the Lenders are willing to agree
to such amendments and to consent to the issuance of the Senior Unsecured Notes
(as hereinafter defined) on the terms and conditions set forth herein;

         NOW, THEREFORE, in consideration of the premises set forth above, the
covenants and agreements hereinafter set forth, and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the
Lenders hereby consent to the issuance of the Senior Unsecured Notes (as
hereinafter defined) on the terms set forth herein and to the application of the
proceeds thereof as set forth in the recitals hereto and as required by Section
15(d) hereof, and the parties hereto agree that all capitalized terms used
herein shall have the meanings ascribed to such terms in the Loan Agreement, and
further agree as follows:

         1.       Amendments to Article 1.

                  (a)      Article 1 of the Loan Agreement, Definitions, is
hereby amended by deleting each of the definitions of "Available Revolving Loan
Commitment", "Guaranty or Guaranteed", "Interest Expense", "Investment", "Loan
Documents", "Operating Cash Flow", "Revolving Loan Commitments" and "Total
Leverage Ratio" in its entirety and by substituting in lieu thereof the
following:

                  "'Available Revolving Loan Commitment' shall mean, as of any
         particular date, (a) the Revolving Loan Commitments minus (b) the sum
         of (i) the Revolving Loans then outstanding, plus (ii) the Swing Line
         Loans then outstanding, plus (iii) the aggregate amount of all Letter
         of Credit Obligations then outstanding."

                  "'Guaranty' or 'Guaranteed,' as applied to an obligation of
         another Person, shall mean and include (a) a guaranty, direct or
         indirect, in any manner, of all or any part of such obligation, and (b)
         any agreement, direct or indirect, contingent or otherwise, the
         practical effect of which is to assure in any way the payment or
         performance (or payment of damages in the event of non-performance) of
         all or any part of such obligation, including, without limiting the
         foregoing, any reimbursement obligations as to amounts drawn down by
         beneficiaries of outstanding letters of credit or capital call
         requirements."

                  "'Interest Expense' shall mean, for any period, all cash
         interest expense (including imputed interest with respect to
         Capitalized Lease Obligations) with respect to any Indebtedness for
         Money Borrowed of the Borrower and its Subsidiaries on a consolidated
         basis during such period pursuant to the terms of such Indebtedness for
         Money Borrowed (excluding a one time payment in May 2003 in connection
         with the cancellation of Interest Rate Hedge Agreements), together with
         all debt issuance costs expensed in such period in respect thereof, as
         calculated in accordance with GAAP (including, without limitation, all
         cash interest paid on any Subordinated Indebtedness) and dividends paid
         in cash with respect to the Preferred Stock but excluding any
         accelerated retirement of unamortized issuance costs for the Senior
         Unsecured Notes and for previously incurred debt and Preferred Stock."

                                       2

<PAGE>

                  "'Investment' shall mean, with respect to the Borrower or any
         of its Subsidiaries, (a) any loan, advance or extension of credit
         (other than to customers in the ordinary course of business) by such
         Person to, or any Guaranty or other contingent liability with respect
         to the capital stock, Indebtedness or other obligations of, or any
         contributions to the capital of, any other Person, or any ownership,
         purchase or other acquisition by such Person of any interest in any
         capital stock, limited partnership interest, general partnership
         interest, or other securities of any such other Person, other than an
         Acquisition, (b) any Capital Expenditure or acquisition of any assets
         made by the Borrower on behalf of or for the benefit of Wireless
         Alliance, and (c) all expenditures by the Borrower or any of its
         Subsidiaries relating to the foregoing. "Investment" shall also include
         the total cost of any future commitment or other obligation binding on
         any Person to make an Investment or any subsequent Investment."

                  "'Loan Documents' shall mean this Agreement, the Notes, the
         Security Documents, all fee letters, all Requests for Advance, all
         Requests for Swing Line Advances, all Requests for Letters of Credit,
         all Interest Hedge Agreements between the Borrower, on the one hand,
         and the Administrative Agent or any of the Lenders (or any of their
         Affiliates) on the date such Interest Hedge Agreement was entered into,
         or any of them, on the other hand, all Notices of Incremental Facility
         Commitments, and all other certificates, documents, instruments and
         agreements executed or delivered in connection with or contemplated by
         this Agreement or any other Loan Document."

                  "'Operating Cash Flow' shall mean, with respect to the
         Borrower and its Subsidiaries on a consolidated basis as of the end of
         any period, (a) Net Income for such period (after eliminating any
         extraordinary gains and losses, including, without limitation, gains
         and losses from the sale of assets), plus (b) to the extent deducted in
         determining Net Income, the sum of the following for such period: (i)
         depreciation and amortization expense, (ii) Interest Expense, (iii) tax
         expense, (iv) solely for purposes of determining compliance with
         Sections 7.8, 7.9, 7.10, 7.11 and 7.12 hereof, all usual and customary
         fees, costs and expenses incurred by the Borrower in connection with or
         related to (A) the transactions contemplated by the Fourth Amendment
         and/or the Senior Unsecured Notes or (B) any Restricted Payment or
         Restricted Purchase permitted under Section 7.7(e), and (v) all other
         non-cash items (which shall include non-cash interest expense, if any),
         minus (c) the sum of (i) non-cash credits to Net Income and (ii) EBITDA
         of Wireless Alliance. In the case of an Acquisition permitted
         hereunder, Operating Cash Flow of the Borrower and its Subsidiaries for
         the applicable test period during which such Acquisition occurs shall
         be adjusted (A) to give effect to such Acquisition, as if such
         Acquisition had occurred on the first day of such test period, by
         excluding the Operating Cash Flow of such Acquisition during such test
         period prior to the date of such Acquisition and adding to the
         Operating Cash Flow of the Borrower, if positive, or subtracting from
         such Operating Cash Flow, if negative, the product of (i) the actual
         Operating Cash Flow of such Acquisition for that portion of such test
         period from the date of such Acquisition to the last day of such
         period, times (ii) a fraction the numerator of which is the number of
         calendar days in such test period and the denominator of which is the
         number of days in such test period from and including the

                                       3

<PAGE>

         date of such Acquisition through the last day of such test period, and
         (B) by adding to the Operating Cash Flow of the Borrower such expenses
         incurred by the Borrower and its Subsidiaries as the Required Lenders
         may agree relate to such Acquisition. For purposes of calculating
         Operating Cash Flow in connection with an Advance for any such
         Acquisition, Operating Cash Flow for the Borrower and its Subsidiaries
         as of the last day of the immediately preceding calendar quarter shall
         include Operating Cash Flow for the Acquisition for the same period and
         shall exclude any dispositions of assets during the same period."

                  "'Revolving Loan Commitments' shall mean the several
         obligations of the Lenders to advance to the Borrower an aggregate
         amount of up to $60,000,000 at any one time outstanding, in accordance
         with their respective Commitment Ratios for Revolving Loans as set
         forth in the definition of "Commitment Ratios" pursuant to the terms
         hereof, and as such obligations may be reduced from time to time
         pursuant to the terms hereof."

                  "'Total Leverage Ratio' shall mean, as of any date, the ratio
         of (a) the Total Debt of the Borrower and its Subsidiaries on a
         consolidated basis on such date (for purposes of Section 7.8 hereof
         only, Total Debt shall be reduced by the aggregate balance at such time
         of all funds deposited or credited to any segregated account (but not
         the Borrower's general operating accounts) over which the
         Administrative Agent has "control" (within the meaning of Section 9-104
         of the Uniform Commercial Code) which account may be established at the
         option of the Borrower; provided that any funds deposited in or
         credited to any such account for purposes of compliance with Section
         7.8 hereof at the end of any calendar quarter or year shall remain
         deposited in or credited to such account from the last day of such
         calendar quarter or year until the date on which the applicable
         performance certificate is delivered pursuant to Section 6.3 hereof, so
         long as such performance certificate demonstrates no Default for the
         quarter or year then ended and on another certificate, in form and
         substance reasonably satisfactory to the Administrative Agent, showing
         compliance on a pro forma basis on the date of withdrawal after giving
         effect to any withdrawal from such account), to (b) Annualized
         Operating Cash Flow of the Borrower and its Subsidiaries on a
         consolidated basis as of the calendar quarter end being tested or the
         most recently completed calendar quarter for which financial statements
         are required to have been delivered pursuant to Section 6.1 or 6.2
         hereof, as the case may be."

                  (b)      Article 1 of the Loan Agreement, Definitions, is
hereby amended by inserting the following new definitions in their appropriate
alphabetical order:

                  "'Available Letter of Credit Commitment' shall mean, at any
         time, the lesser of (a) (i) $5,000,000.00 minus (ii) all Letter of
         Credit Obligations then outstanding, and (b) the Available Revolving
         Loan Commitment then in effect."

                  "'Borrower's Portion of Excess Cash Flow' shall mean fifty
         percent (50%) of Excess Cash Flow for any year after 2002, so long as
         the Borrower has made the payments required under Section 2.7(b)(v)
         hereof for such year."

                                       4

<PAGE>

                  "'Commercial Letter of Credit' shall mean a documentary letter
         of credit issued by the Issuing Bank in accordance with the terms of
         this Agreement in respect of the purchase of goods or services by the
         Borrower or any Subsidiary of the Borrower."

                  "'Fourth Amendment' shall mean that certain Fourth Amendment
         hereto dated as of August 1, 2003 by and among the Borrower, the
         Lenders and the Administrative Agent."

                  "'Fourth Amendment Effective Date' shall mean the Effective
         Date (as defined in that certain Fourth Amendment to this Agreement)."

                  "'Issuing Bank' shall mean The Toronto-Dominion Bank, Houston
         Agency, as issuer of the Letters of Credit."

                  "'Letter of Credit Obligations' shall mean, at any time, the
         sum of (a) an amount equal to the aggregate undrawn and unexpired
         amount (including the amount to which any such Letter of Credit can be
         reinstated pursuant to the terms hereof) of the then outstanding
         Letters of Credit and (b) an amount equal to the aggregate drawn, but
         unreimbursed, drawings on any Letters of Credit."

                  "'Letter of Credit Reserve Account' shall mean any account
         established by the Administrative Agent for the benefit of the Issuing
         Bank, under Sections 2.7(b)(iv), 8.2(a) or 8.2(b) hereof."

                  "'Letters of Credit' shall mean, collectively, each Standby
         Letter of Credit or Commercial Letter of Credit issued by the Issuing
         Bank on behalf of the Borrower or any of its Subsidiaries in accordance
         with the terms hereof."

                  "'Request for Issuance of Letter of Credit' shall mean any
         certificate signed by an Authorized Signatory of the Borrower
         requesting that the Issuing Bank issue a Letter of Credit hereunder,
         which certificate shall be in substantially the form of Exhibit A to
         the Fourth Amendment and shall, among other things, specify (a) that
         the requested Letter of Credit is either a Commercial Letter of Credit
         or a Standby Letter of Credit, (b) the stated amount of the Letter of
         Credit, (c) the effective date for the issuance of the Letter of Credit
         (which shall be a Business Day), (d) the date on which the Letter of
         Credit is to expire (which shall be a Business Day), (e) the Person for
         whose benefit such Letter of Credit is to be issued and (f) other
         relevant terms of such Letter of Credit."

                  "'Senior Unsecured Notes' shall mean those certain Senior
         Unsecured Notes due February 1, 2010 issued by the Borrower pursuant to
         that certain Indenture dated as of, and as in effect on, the Fourth
         Amendment Effective Date."

                  "'Standby Letter of Credit' shall mean a letter of credit
         issued by the Issuing Bank in accordance with the terms hereof to
         support obligations of the Borrower or any of its

                                       5

<PAGE>

         Subsidiaries incurred in the ordinary course of business, and which is
         not a Commercial Letter of Credit."

         (c)      Article 1 of the Loan Agreement, Definitions, is hereby
further amended by deleting subsection (g) of the definition of "Permitted
Liens" and substituting in lieu thereof the subsection (g) set forth below and
by inserting the following new subsections (j), (k) and (l) to the definition of
"Permitted Liens" as follows:

                  "(g) Liens securing Indebtedness to the extent permitted
pursuant to Sections 7.1(g) and 7.1(i) hereof;"

                  "(j) Liens granted to banks in the ordinary course of business
         in connection with deposit, disbursement or concentration accounts
         (other than in connection with borrowed money) maintained with such
         banks on funds and other items in such accounts;

                  (k)(i) Liens of landlords, Liens arising from or related to
         customer deposits and other obligations of a like nature incurred in
         the ordinary course of business, (ii) any interest or title of a
         lessor, licensor or sublessor under any lease or license entered into
         in the ordinary course of its business and covering only the assets so
         leased or licensed, (iii) leases or subleases granted to others not
         interfering in any material respect with the business of the owner of
         the leased or subleased property and any interest or title of a lessor
         under any lease permitted by the Loan Documents, and (iv) Liens and
         cash deposits made to secure the obligations under that certain letter
         of credit issued by KeyBank National Association for the account of
         Alexandria Indemnity Corporation in the face amount of $50,000; and

                  (l) negative pledges and similar provisions pursuant to or
         contained in any Subordinated Indebtedness or the Senior Unsecured
         Notes, and customary non-assignment provisions contained in leases."

         2.       Amendments to Article 2.

                  (a)      Amendment to Section 2.1. Section 2.1 of the Loan
Agreement, The Loans, is hereby amended by inserting new subsection 2.1(f)
thereto which shall read as follows:

                           "(f)     The Letters of Credit. Subject to the terms
         and conditions of this Agreement, the Issuing Bank agrees to issue the
         Letters of Credit for the account of the Borrower pursuant to Section
         2.17 hereof in an aggregate amount at the time of issuance of any
         Letter of Credit hereunder not to exceed the Available Letter of Credit
         Commitment then in effect or to extend the expiration date of an
         existing Letter of Credit (subject to the limitations on issuances and
         expiration dates set forth in Section 2.17)."

                  (b)      Amendment to Section 2.3. Section 2.3(f) of the Loan
Agreement, Applicable Margin, is hereby amended by deleting each of subsections
(i), (ii) and (iii) thereof in its entirety and substituting in lieu thereof the
following:

                                       6

<PAGE>

                           "(i)     Revolving Loans and Term Loan A Loans. With
         respect to any Advance under the Revolving Loan Commitments or the Term
         Loan A Commitments, the Applicable Margin shall be as set forth in a
         certificate of the chief financial officer of the Borrower delivered to
         the Administrative Agent based upon the Total Leverage Ratio for the
         most recent fiscal quarter end for which financial statements are
         furnished by the Borrower to the Administrative Agent and each Lender
         as follows:

<TABLE>
<CAPTION>
                                                        Base Rate Advance                     LIBOR Advance
         Total Leverage Ratio                           Applicable Margin                   Applicable Margin
         --------------------                           -----------------                   -----------------
<S>                                                     <C>                                 <C>
Greater than 6.50:1.00                                        2.750%                             3.750%

Greater than 6.00:1.00, but less than or equal                2.250%                             3.250%
    to 6.50:1.00

Greater than 5.50:1.00, but less than or equal                1.750%                             2.750%
    to 6.00:1.00

Greater than 5.00:1.00, but less than or equal                1.250%                             2.250%
    to 5.50:1.00

Greater than 4.00:1.00, but less than or equal                1.000%                             2.000%
    to 5.00:1.00

Less than or equal to 4.00:1.00                               0.750%                             1.750%
</TABLE>

                           (ii)     Term Loan B Loans. With respect to any
         Advance under the Term Loan B Commitments, the Applicable Margin shall
         be as set forth in a certificate of the chief financial officer of the
         Borrower delivered to the Administrative Agent based upon the Total
         Leverage Ratio for the most recent fiscal quarter end for which
         financial statements are furnished by the Borrower to the
         Administrative Agent and each Lender as follows:

<TABLE>
<CAPTION>
                                                        Base Rate Advance                     LIBOR Advance
         Total Leverage Ratio                           Applicable Margin                   Applicable Margin
         --------------------                           -----------------                   -----------------
<S>                                                     <C>                                 <C>
Greater than 6.50:1.00                                        2.750%                             3.750%

Less than or equal to 6.50:1.00                               2.500%                             3.500%
</TABLE>

                           (iii)    Term Loan C Loans. With respect to any
         Advance under the Term Loan C Commitments, the Applicable Margin shall
         be as set forth in a certificate of the chief financial officer of the
         Borrower delivered to the Administrative Agent based upon the Total
         Leverage Ratio for the most recent fiscal quarter end for which
         financial

                                       7

<PAGE>

         statements are furnished by the Borrower to the Administrative Agent
         and each Lender as follows:

<TABLE>
<CAPTION>
                                                        Base Rate Advance                     LIBOR Advance
         Total Leverage Ratio                           Applicable Margin                   Applicable Margin
         --------------------                           -----------------                   -----------------
<S>                                                     <C>                                 <C>
Greater than 6.50:1.00                                        3.000%                             4.000%

Less than or equal to 6.50:1.00                               2.750%                             3.750%
</TABLE>

                  (c)      Amendment to Section 2.4. Section 2.4 of the Loan
Agreement, Commitment Fees, is hereby amended by deleting such section in its
entirety and substituting in lieu thereof the following:

                  "Section 2.4      Fees.

                           (a)      Commitment Fees. Commencing on and at all
         times after the Fourth Amendment Effective Date, the Borrower agrees to
         pay to the Administrative Agent for the account of each of the Lenders
         (except for the Swing Line Lender if the Swing Line Lender is a Lender
         having a Revolving Loan Commitment hereunder only to the extent that
         such Swing Line Lender has Swing Line Loans outstanding) having
         Revolving Loan Commitments in accordance with their respective
         Commitment Ratios for Revolving Loans, a commitment fee on the
         aggregate unborrowed balance of the Revolving Loan Commitments minus
         the amount of the Letter of Credit Obligations (excluding Swing Line
         Loans) for each day from the Fourth Amendment Effective Date until the
         Revolving Loan Maturity Date at a rate of one-half of one percent
         (0.500%) per annum. Such commitment fee shall be computed on the basis
         of a year of 365/366 days for the actual number of days elapsed, shall
         be payable quarterly in arrears on the last day of each calendar
         quarter, and shall be fully earned when due and non-refundable when
         paid. A final payment of any commitment fee then payable shall also be
         due and payable on the Revolving Loan Maturity Date.

                           (b)      Letter of Credit Fees.

                                    (i)      The Borrower shall pay to the
                  Issuing Bank a fee on the undrawn face amount of any
                  outstanding Letters of Credit from the date of issuance
                  through the earlier to occur of (i) the expiration date of
                  each such Letter of Credit and (ii) the surrender thereof to
                  the Issuing Bank for cancellation at a rate of one-eighth of
                  one percent (0.125%) per annum, which fee shall be computed on
                  the basis of a year of 360 days for the actual number of days
                  elapsed, and shall be payable quarterly in arrears on the last
                  Business Day of each calendar quarter and shall be fully
                  earned when due and non-refundable when

                                       8

<PAGE>

                  paid. A final payment of such letter of credit fees shall also
                  be due and payable on the Revolving Loan Maturity Date.

                                    (ii)     The Borrower shall also pay to the
                  Administrative Agent on behalf of the Lenders having a
                  Revolving Loan Commitment in accordance with their respective
                  Commitment Ratios for the Revolving Loans, a fee on the
                  undrawn face amount of any outstanding Letters of Credit for
                  each day from the date of issuance thereof through the earlier
                  of (A) the expiration date for each such Letter of Credit and
                  (B) the surrender of such Letter of Credit to the Issuing Bank
                  for cancellation, at a rate per annum equal to the Applicable
                  Margin for LIBOR Advances as set forth in Section 2.3(f)(i)
                  under the Revolving Loan Commitment. Such letter of credit fee
                  shall be computed on the basis of a year of 360 days for the
                  actual number of days elapsed and shall be payable quarterly
                  in arrears for each quarter on the last Business Day of each
                  calendar quarter and shall be fully earned when due and
                  non-refundable when paid. A final payment of all letter of
                  credit fees shall also be due and payable on the Revolving
                  Loan Maturity Date. The letter of credit fee set forth in this
                  Section 2.4(b)(ii) shall be subject to increase and decrease
                  on the dates and in the amounts set forth in Section 2.3(f)
                  hereof in the same manner as the adjustment of the Applicable
                  Margin with respect to LIBOR Advances that are Revolving
                  Loans."

                  (d)      Amendment to Section 2.7. Section 2.7(b) of the Loan
Agreement, Repayments, is hereby amended by deleting each of subsections (iv)
and (vi) thereof in its entirety and substituting in lieu thereof the following:

                           "(iv) Loans in Excess of Revolving Loan Commitments
         (and/or Incremental Facility Commitments). If, at any time, the amount
         of the Revolving Loans and Letter of Credit Obligations (or the
         Incremental Facility Loans) then outstanding shall exceed the Revolving
         Loan Commitment (or the Incremental Facility Commitment), the Borrower
         shall, on such date and subject to Sections 2.10 and 2.11 hereof, make
         a repayment of the principal amount of the Revolving Loans (or the
         Incremental Facility Loans), or, if there are no such Loans then
         outstanding, establish, if applicable, a Letter of Credit Reserve
         Account, in each case, in an amount equal to such excess, together with
         any accrued interest and fees with respect thereto. All amounts (and
         accrued interest thereon) in the Letter of Credit Reserve Account
         deposited pursuant to this Section 2.7(b)(iv) shall be returned to the
         Borrower promptly after the Letter of Credit Obligations in excess of
         the Revolving Loan Commitment have been indefeasibly paid and
         cancelled."

                           "(vi) Asset Sales. On the date that the Borrower or
         any of its Subsidiaries receives any Net Proceeds from any disposition
         or sale of assets by the Borrower or any of its Subsidiaries in
         accordance with Section 7.4 hereof, the Borrower shall make a repayment
         of the Loans then outstanding in an amount equal to such Net Proceeds;
         provided, however, that, so long as no Default of Event or Default has
         occurred and is continuing, the Borrower shall not be required to make
         a repayment hereunder with

                                       9

<PAGE>

         respect to (A) dispositions of (1) inventory in the ordinary course of
         business, or (2) assets which are obsolete or which are no longer used
         or useful in the business of the Borrower or any of its Subsidiaries or
         (B) the Net Proceeds of any disposition or sale of assets (other than
         those Net Proceeds resulting from any sale/leaseback transaction or
         those resulting from the sale of the incumbent local exchange carrier
         business of Saco River) which do not exceed (1) $5,000,000 for any
         single transaction (or series of related transactions), and (2)
         $10,000,000 in the aggregate from and after the Fourth Amendment
         Effective Date. Subject to Section 2.7(b)(xii) hereof, the amount of
         the Net Proceeds required to be repaid under this Section 2.7(b)(vi)
         shall be applied to the Term Loans then outstanding and, if applicable,
         the Incremental Facility Loans then outstanding (if in the form of a
         term loan) (on a pro rata basis for all Term Loans and, if applicable,
         the Incremental Facility Loans in inverse order of maturity for each
         Term Loan and, if applicable, the Incremental Facility Loans), second
         to the Revolving Loans and, if applicable, to the Incremental Facility
         Loans (if in the form of a revolver). Accrued interest on the principal
         amount of the Loans being prepaid pursuant to this Section 2.7(b)(vi)
         to the date of such prepayment will be paid by the Borrower
         concurrently with such principal prepayment."

                  (e)      Addition of Section 2.17. Article 2 of the Loan
Agreement, Loans, is hereby further amended by inserting a new Section 2.17,
Letters of Credit, which shall read as follows:

                  "Section 2.17     Letters of Credit.

                           (a)      Subject to the terms and conditions hereof,
         the Issuing Bank, on behalf of the Lenders having a Revolving Loan
         Commitment, and in reliance on the agreements of such Lenders set forth
         in Section 2.17(d) hereof, hereby agrees to issue one or more Letters
         of Credit up to an aggregate face amount equal to the Available Letter
         of Credit Commitment determined immediately prior to giving effect to
         the issuance thereof; provided, however, that the Issuing Bank shall
         not issue any Letter of Credit (i) unless the conditions precedent to
         the issuance thereof set forth in Section 3.3 hereof have been
         satisfied, (ii) if any Default then exists or would be caused thereby,
         (iii) if, after giving effect to such issuance, the Available Revolving
         Loan Commitment would be less than zero, (iv) within thirty (30) days
         preceding the Revolving Loan Maturity Date or (v) in an amount less
         than $50,000.00; and provided further, however, that at no time shall
         the aggregate amount of the Letter of Credit Obligations outstanding
         hereunder exceed $5,000,000.00. Each Letter of Credit shall (A) be
         payable at sight, (B) be denominated in United States dollars, (C)
         expire, (i) with respect to Standby Letters of Credit, no later than
         the earlier to occur of (x) the fifth Business Day preceding the
         Revolving Loan Maturity Date and (y) 360 days after its date of
         issuance (but may contain provisions for automatic renewal; provided
         that the Issuing Bank shall only deliver a notice of non-renewal if (1)
         requested in writing by the Borrower or the Required Lenders prior to
         the date for such notice, or (2) a Default or Event of Default exists
         on the date such notice is required or would be caused by such
         renewal), and (ii) with respect to Commercial Letters of Credit, no
         later than the earlier to occur of (x) the

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<PAGE>

         thirtieth day preceding the Revolving Loan Maturity Date and (y) 180
         days after its date of Issuance (but may contain provisions for
         automatic renewal; provided that the Issuing Bank shall only deliver a
         notice of non-renewal if (1) requested in writing by the Borrower or
         the Required Lenders or (2) a Default or Event of Default exists on the
         date such notice is required or would be caused by such renewal). Each
         Standby Letter of Credit shall be subject to the International Standby
         Practices, International Chamber of Commerce Publication No. 590 and,
         to the extent not inconsistent therewith, the laws of the State of New
         York. The Issuing Bank shall not at any time be obligated to issue, or
         cause to be issued, any Letter of Credit if such issuance would
         conflict with, or cause the Issuing Bank to exceed any limits imposed
         by, any Applicable Law. If a Letter of Credit provides that it is
         automatically renewable unless notice is given by the Issuing Bank that
         it will not be renewed, the Issuing Bank shall not be bound to give a
         notice of non-renewal unless directed to do so by the Required Lenders
         at least sixty-five (65) days prior to the then scheduled expiration
         date of such Letter of Credit.

                           (b)      The Borrower may from time to time request
         the Issuing Bank to issue Letters of Credit. The Borrower shall execute
         and deliver to the Administrative Agent and the Issuing Bank a Request
         for Issuance of Letter of Credit for each Letter of Credit to be issued
         by the Issuing Bank not later than 12:00 noon (New York, New York time)
         on the fifth (5th) Business Day preceding the date on which the
         requested Letter of Credit requested is to be issued, or such shorter
         notice as may be acceptable to the Issuing Bank and the Administrative
         Agent. Upon receipt of any such Request for Issuance of Letter of
         Credit, subject to satisfaction of all conditions precedent thereto as
         set forth in Section 3.3 hereof, the Issuing Bank shall process such
         Request for Issuance of Letter of Credit and the certificates,
         documents and other papers and information delivered to it in
         connection therewith in accordance with its customary procedures and
         shall promptly issue the Letter of Credit requested thereby. The
         Issuing Bank shall furnish a copy of such Letter of Credit (or any
         amendment thereto or renewal or extension thereof) to the Borrower, the
         Administrative Agent and each of the Lenders having a Revolving Loan
         Commitment following the issuance thereof. The Borrower shall pay or
         reimburse the Issuing Bank for normal and customary costs and expenses
         incurred by the Issuing Bank in issuing, effecting payment under,
         amending or otherwise administering the Letters of Credit.

                           (c)      At such time as the Administrative Agent
         shall be notified by the Issuing Bank that the beneficiary under any
         Letter of Credit has drawn on the same, the Administrative Agent shall
         promptly notify the Borrower, by telephonic notice followed promptly by
         written notice, and each Lender having a Revolving Loan Commitment,
         promptly by written notice, of the amount of the draw and, in the case
         of each such Lender, such Lender's portion of such draw amount as
         calculated in accordance with its respective Commitment Ratio for
         Revolving Loans.

                           (d)      The Borrower hereby agrees to immediately
         reimburse the Issuing Bank for amounts paid by the Issuing Bank in
         respect of draws under a Letter of Credit issued at the Borrower's
         request. In order to facilitate such repayment, the Borrower

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<PAGE>

         hereby irrevocably requests the Lenders having a Revolving Loan
         Commitment, and such Lenders hereby severally agree, on the terms and
         conditions of this Agreement (other than as provided in Article 2
         hereof with respect to the amounts of, the timing of requests for, and
         the repayment of Advances hereunder and in Article 3 hereof with
         respect to conditions precedent to Advances hereunder), with respect to
         any honoring of any draw under a Letter of Credit prior to the
         occurrence of an Event of Default under Section 8.1(f) or (g) hereof,
         to make an Advance (which Advance may be a LIBOR Advance if the
         Borrower so requests in a timely manner or may be Converted to a LIBOR
         Advance as provided in the Loan Agreement) to the Borrower on each day
         on which the Issuing Bank honors a draw made under any Letter of Credit
         and in the amount of such draw, and to pay the proceeds of such Advance
         directly to the Issuing Bank to reimburse the Issuing Bank for the
         amount paid by it upon such draw. Each Lender having a Revolving Loan
         Commitment shall pay its share of such Advance by paying its portion of
         such Advance to the Administrative Agent in accordance with Section
         2.2(e) hereof and its respective Commitment Ratio for Revolving Loans,
         without reduction for any set-off or counterclaim of any nature
         whatsoever and regardless of whether any Default or Event of Default
         (other than with respect to an Event of Default under Section 8.1(f) or
         (g) hereof) then exists or would be caused thereby. If at any time that
         any Letters of Credit are outstanding, any of the events described in
         clauses of Section 8.1(f) or (g) hereof shall have occurred and be
         continuing, then each Lender having a Revolving Loan Commitment shall,
         automatically upon the occurrence of any such event and without any
         action on the part of the Issuing Bank, the Borrower, the
         Administrative Agent or such Lenders, be deemed to have purchased an
         undivided participation in the face amount of all Letters of Credit
         then outstanding in an amount equal to such Lender's respective
         Commitment Ratio for Revolving Loans, and each Lender having a
         Revolving Loan Commitment shall, notwithstanding such Event of Default,
         upon a drawing being honored under any Letter of Credit, immediately
         pay to the Administrative Agent for the account of the Issuing Bank, in
         immediately available funds, the amount of such Lender's participation
         (and the Issuing Bank shall deliver to such Lender a loan participation
         certificate dated the date of the occurrence of such event and in the
         amount of such Lender's respective Commitment Ratio for Revolving
         Loans). The disbursement of funds in connection with a draw under a
         Letter of Credit pursuant to this Section 2.17(d) shall be subject to
         the terms and conditions of Section 2.2(e) hereof. The obligation of
         each Lender having a Revolving Loan Commitment to make payments to the
         Administrative Agent, for the account of the Issuing Bank, in
         accordance with this Section 2.17 shall be absolute and unconditional
         and no such Lender shall be relieved of its obligations to make such
         payments by reason of noncompliance by any other Person with the terms
         of the Letter of Credit or for any other reason. The Administrative
         Agent shall promptly remit to the Issuing Bank the amounts so received
         from the other Lenders. Any overdue amounts payable by the Lenders
         having a Revolving Loan Commitment to the Issuing Bank in respect of a
         draw under any Letter of Credit shall bear interest, payable on demand,
         at the rate on overnight federal funds transactions with members of the
         Federal Reserve System arranged by federal funds brokers, as published
         for such day by the Federal Reserve Bank of New York.

                                       12

<PAGE>

                           (e)      The Borrower agrees that any action taken or
         omitted to be taken by the Issuing Bank in connection with any Letter
         of Credit, except for such actions or omissions as shall constitute
         gross negligence or willful misconduct on the part of the Issuing Bank,
         shall be binding on the Borrower as between the Borrower and the
         Issuing Bank, and shall not result in any liability of the Issuing Bank
         to the Borrower. The obligation of the Borrower to reimburse the
         Lenders for Advances made to reimburse the Issuing Bank for draws under
         the Letter of Credit shall be absolute, unconditional and irrevocable,
         and shall be paid strictly in accordance with the terms of this
         Agreement notwithstanding any of the following circumstances:

                                    (i)      any lack of validity or
                  enforceability of any Loan Document;

                                    (ii)     any amendment or waiver of or
                  consent to any departure from any or all of the Loan
                  Documents;

                                    (iii)    any improper use which may be made
                  of any Letter of Credit or any improper acts or omissions of
                  any beneficiary or transferee of any Letter of Credit in
                  connection therewith;

                                    (iv)     the existence of any claim,
                  set-off, defense or any right which the Borrower may have at
                  any time against any beneficiary or any transferee of any
                  Letter of Credit (or Persons for whom any such beneficiary or
                  any such transferee may be acting) or any Lender (other than
                  the defense of payment to such Lender in accordance with the
                  terms of this Agreement) or any other Person, whether in
                  connection with any Letter of Credit, any transaction
                  contemplated by any Letter of Credit, this Agreement, any
                  other Loan Document, or any unrelated transaction;

                                    (v)      any statement or any other
                  documents presented under any Letter of Credit proving to be
                  insufficient, forged, fraudulent or invalid in any respect or
                  any statement therein being untrue or inaccurate in any
                  respect whatsoever, provided that the same shall not have
                  resulted from gross negligence or willful misconduct of the
                  Issuing Bank;

                                    (vi)     the insolvency of any Person
                  issuing any documents in connection with any Letter of Credit;

                                    (vii)    any breach of any agreement between
                  the Borrower and any beneficiary or transferee of any Letter
                  of Credit, provided that the same shall not have resulted from
                  the gross negligence or willful misconduct of the Issuing
                  Bank;

                                    (viii)   any irregularity in the transaction
                  with respect to which any Letter of Credit is issued,
                  including any fraud by the beneficiary or any transferee

                                       13

<PAGE>

                  of such Letter of Credit, provided that the same shall not
                  have resulted from the gross negligence or willful misconduct
                  of the Issuing Bank;

                                    (ix)     any errors, omissions,
                  interruptions or delays in transmission or delivery of any
                  messages, by mail, cable, telegraph, wireless or otherwise,
                  whether or not they are in code, provided that the same shall
                  not have resulted from the gross negligence or willful
                  misconduct of the Issuing Bank;

                                    (x)      any act, error, neglect or default,
                  omission, insolvency or failure of business of any of the
                  correspondents of the Issuing Bank, provided that the same
                  shall not have resulted from the gross negligence or willful
                  misconduct of the Issuing Bank;

                                    (xi)     any other circumstances arising
                  from causes beyond the control of the Issuing Bank;

                                    (xii)    payment by the Issuing Bank under
                  any Letter of Credit against presentation of a sight draft or
                  a certificate which does not comply with the terms of such
                  Letter of Credit, provided that the same shall not have
                  resulted from gross negligence or willful misconduct of the
                  Issuing Bank; and

                                    (xiii)   any other circumstance or happening
                  whatsoever, whether or not similar to any of the foregoing,
                  provided that the same shall not have resulted from the result
                  of gross negligence or willful misconduct of the Issuing Bank
                  or any other Lender.

                           (f)      If any change in Applicable Law or any
         change in the interpretation or administration thereof by any
         governmental authority, central bank or comparable agency charged with
         the interpretation or administration thereof or compliance by the
         Issuing Bank with any directive (whether or not having the force of
         law) of any such authority, central bank or comparable agency shall (i)
         impose, modify or deem applicable any reserve (including, without
         limitation, any imposed by the Board of Governors of the Federal
         Reserve System), special deposit, capital adequacy, assessment or other
         requirements or conditions against Letters of Credit issued by the
         Issuing Bank or against participations by any other Lender in the
         Letters of Credit or (ii) impose on the Issuing Bank or any other
         Lender any other condition regarding any Letter of Credit or any
         participation therein, and the result of any of the foregoing in the
         reasonable determination of the Issuing Bank or such Lender, as the
         case may be, is to increase the cost to the Issuing Bank or such Lender
         of issuing or maintaining any Letter of Credit or purchasing or
         maintaining any participation therein, as the case may be, by an amount
         (which amount shall be reasonably determined) deemed by the Issuing
         Bank or such Lender to be material, and the designation of a different
         lending office will not avoid the need for additional compensation
         (without creating other unreimbursed costs or disadvantage to such
         Lender), then, on request by the Issuing Bank or such Lender, the
         Borrower shall pay, within ten (10) days after demand, the Issuing Bank
         or such Lender,

                                       14

<PAGE>

         as the case may be, such additional amount or amounts as the Issuing
         Bank or such Lender, as the case may be, so determines will compensate
         it on an after-tax basis for such increased costs. A certificate of the
         Issuing Bank or such Lender setting forth the amount, and in reasonable
         detail the basis for the Issuing Bank or such Lender's determination of
         such amount, to be paid to the Issuing Bank or such Lender by the
         Borrower as a result of any event referred to in this paragraph shall,
         absent manifest error, be conclusive.

                           (g)      Each Lender having a Revolving Loan
         Commitment shall be responsible for its pro rata share (based on such
         Lender's respective Commitment Ratio for Revolving Loans) of any and
         all reasonable out-of-pocket costs, expenses (including reasonable
         legal fees) and disbursements which may be incurred or made by the
         Issuing Bank in connection with the collection of any amounts due
         under, the administration of, or the presentation or enforcement of any
         rights conferred by any Letter of Credit, the Borrower's or any
         guarantor's obligations to reimburse or otherwise. In the event the
         Borrower shall fail to pay such expenses of the Issuing Bank within ten
         (10) days after demand for payment by the Issuing Bank, each Lender
         having a Revolving Loan Commitment shall thereupon pay to the Issuing
         Bank its pro rata share (based on such Lender's respective Commitment
         Ratio for Revolving Loans) of such expenses within five (5) days from
         the date of the Issuing Bank's notice to the Lenders having a Revolving
         Loan Commitment of the Borrower's failure to pay; provided, however,
         that if the Borrower or any guarantor shall thereafter pay such
         expense, the Issuing Bank will repay to each Lender having a Revolving
         Loan Commitment the amounts received from such Lender hereunder.

                           (h)      The Borrower agrees that each Advance by the
         Lenders having Revolving Loan Commitments to reimburse the Issuing Bank
         for draws under any Letter of Credit, shall, for all purposes
         hereunder, be deemed to be an Advance under the Revolving Loan
         Commitment to the Borrower and shall be payable and bear interest in
         accordance with all other Revolving Loans to the Borrower.

                           (i)      The Borrower will indemnify and hold
         harmless the Administrative Agent, the Issuing Bank and each Lender and
         each of the foregoing Person's respective employees, representatives,
         officers and directors from and against any and all claims,
         liabilities, obligations, losses (other than loss of profits), damages,
         penalties, actions, judgments, suits, costs, expenses or disbursements
         of any kind or nature whatsoever (including reasonable attorneys' fees,
         but excluding taxes) which may be imposed on, incurred by or asserted
         against the Administrative Agent, the Issuing Bank or any such other
         Lender in any way relating to or arising out of the issuance of a
         Letter of Credit, except that the Borrower shall not be liable to the
         Administrative Agent, the Issuing Bank or any such Lender for any
         portion of such claims, liabilities, obligations, losses, damages,
         penalties, actions, judgments, suits, costs, expenses, or disbursements
         resulting from the gross negligence or willful misconduct of the Person
         seeking indemnification as determined by a non-appealable judicial
         order. This Section 2.17(i) shall survive termination of this
         Agreement.

                                       15

<PAGE>

                           (j)      For the purposes of Sections 5.8, 5.12, 8.2,
         9.9, 9.13, 11.2, 11.3, 11.4, 11.16 and 11.19 of the Loan Agreement, the
         Issuing Bank shall be deemed to be a Lender hereunder and shall have
         all the rights and benefits of a Lender thereunder."

         3.       Amendments to Article 3. Article 3 of the Loan Agreement,
Conditions Precedent, is hereby amended by inserting a new Section 3.3,
Conditions Precedent to Issuance of Letters of Credit, which shall read as
follows:

                           "Section 3.3 Conditions Precedent to Issuance of
         Letters of Credit. The obligation of the Issuing Bank to issue each
         Letter of Credit hereunder is subject to the fulfillment of each of the
         following conditions immediately prior to or contemporaneously with
         such issuance:

                           (a)      all of the representations and warranties of
         the Borrower under this Agreement, which, in accordance with Section
         4.2 hereof, are made at and as of the time of an Advance, shall be true
         and correct in all material respects, both before and after giving
         effect to the issuance of such Letter of Credit and after giving effect
         to any updates to information provided to the Lenders in accordance
         with the terms of such representations and warranties;

                           (b)      the Administrative Agent shall have received
         a duly executed Request for Issuance of Letter of Credit;

                           (c)      the incumbency of the Authorized Signatories
         shall be as stated in the applicable certificate of incumbency
         contained in the certificate of the Borrower delivered to the
         Administrative Agent prior to or on the Agreement Date or as
         subsequently modified and reflected in a certificate of incumbency
         delivered to the Administrative Agent and the Lenders having a
         Revolving Loan Commitment;

                           (d)      there shall not exist, on the date of the
         issuance of such Letter of Credit before or after giving effect
         thereto, a Default or an Event of Default hereunder; and

                           (e)      the Administrative Agent, the Issuing Bank
         and each of the Lenders having a Revolving Loan Commitment shall have
         received all such other certificates, reports, statements, opinions of
         counsel (if such Letter of Credit is in connection with an Acquisition)
         or other documents as any of them may reasonably request."

         4.       Amendment to Article 4.

         (a)      Amendment to Section 4.1. Section 4.1(i), Litigation, is
hereby amended by deleting such section in its entirety and substituting in lieu
thereof the following:

                                       16

<PAGE>

                  "(i)     Litigation. There is no action, suit, proceeding or
         investigation pending against, or, to the knowledge of the Borrower,
         threatened against the Borrower or any of its Subsidiaries or any of
         their respective properties, including without limitation the Licenses,
         in any court or before any arbitrator of any kind or before or by any
         governmental body (including without limitation the FCC) except as set
         forth on Schedule 5 attached to the Fourth Amendment and except those
         which (i) do not call into question the validity of this Agreement or
         any other Loan Document, or (ii) individually or collectively would not
         reasonably be expected to have damages (after giving effect to any
         insurance coverage for which the insurance company, having received
         notice of the claim and all necessary claim information, has not denied
         coverage) in excess of the amounts set forth in Section 8.1(h) hereof."

         (b)      Amendment to Section 4.2. Section 4.2, Survival of
Representations and Warranties, is hereby amended by inserting the following at
the end of such Section: "For avoidance of doubt, Section 4.1(k) hereof relates
specifically to the Agreement Date and the first sentence of Section 4.1(u)
hereof, and any analogous provision in any Security Document, refer to a
perfected first priority security interest to the extent that such security
interest can be perfected by filing of a financing statement, possession or
control, but do not refer to a perfected security interest in money, to the
extent not in the possession of the Administrative Agent, or any deposit account
for which a control agreement has not been entered into."

         5.       Amendments to Article 5.

         (a)      Amendment to Section 5.13. Section 5.13, Interest Rate
Hedging, is hereby amended by deleting such section in its entirety and
substituting in lieu thereof the following:

                  "Section 5.13 Interest Rate Hedging. Within ninety (90) days
         of the Agreement Date and forty-five (45) days after each Advance, the
         Borrower shall, to the extent applicable, enter into (and shall at all
         times thereafter maintain) one or more Interest Hedge Agreements such
         that not less than fifty percent (50%) of the principal amount of the
         Total Debt outstanding from time to time bears interest at a fixed rate
         after giving effect to all applicable Interest Hedge Agreements. Such
         Interest Hedge Agreements shall provide interest rate protection in
         conformity with International Swap Dealers Association standards and
         for an average period of at least three (3) years from the date of such
         Interest Hedge Agreements or, if earlier, until the later of the
         Revolving Loan Maturity Date, Term Loan A Maturity Date, Term Loan B
         Maturity Date, Term Loan C Maturity Date or Incremental Facility
         Maturity Date on terms reasonably acceptable to the Administrative
         Agent, such terms to include consideration of the creditworthiness of
         the other party to the proposed Interest Hedge Agreement. All
         Obligations of the Borrower to either Administrative Agent or any of
         the Lenders (or any of their Affiliates) pursuant to any Interest Hedge
         Agreement and all Liens granted to secure such Obligations shall rank
         pari passu with all other Obligations and Liens securing such other
         Obligations up to the then effective amount of the Commitments; and any
         Interest Hedge Agreement between the Borrower and any other Person
         shall be unsecured."

                                       17

<PAGE>

         (b)      Addition of Section 5.17. Article 5 is hereby amended by
inserting a new Section 5.17, Refinancing of Certain Indebtedness, which shall
read as follows:

                  "Section 5.17 Refinancing of Certain Indebtedness. Subject to
         the provisions of Section 7.1 hereof, the Borrower will refinance or
         extend the maturity date for any Subordinated Indebtedness to the
         extent necessary to prevent the occurrence of the Event of Default set
         forth in Section 8.1(q) hereof or to comply with Section 7.7(b)
         hereof."

         6.       Amendment to Article 6. Section 6.4, Copies of Other Reports,
is hereby amended by deleting such section in its entirety and substituting in
lieu thereof the following:

                           "(d)     (i) Annually, no later than June 15 of each
         year, certificates of insurance indicating that the requirements of
         Section 5.5 hereof remain satisfied for the period from June 1 of such
         year to May 31 of the following year, together with copies of any new
         or replacement insurance policies obtained during such year to be
         provided as soon as available to the Borrower, and (ii) at the time of
         delivery of the performance certificate referred to in Section 6.3
         hereof, a certificate setting forth (A) the amount of Investments and
         Acquisitions under Sections 7.6(b)(ii), 7.6(c) and 7.6(d) during such
         period and from the Agreement Date, (B) the amount of Restricted
         Payments and Restricted Purchases under Section 7.7(e) hereof during
         such period, and (C) calculations showing compliance with Section
         7.7(e) hereof."

         7.       Amendments to Article 7.

                  (a)      Amendment to Section 7.1. Section 7.1 of the Loan
Agreement, Indebtedness of the Borrower and its Subsidiaries, is hereby amended
by inserting a new subsection (j) therein which section shall read as follows:

                           "(j)     (i) the Senior Unsecured Notes, so long as
         the proceeds thereof are paid to the Administrative Agent for
         application to the Loans to the extent required by the Fourth Amendment
         and in the manner reflected in the recitals thereto, (ii) any
         refinancing or extension of the Senior Unsecured Notes (which will be
         Senior Unsecured Notes for all purposes hereunder) or the Subordinated
         Notes (which will be Subordinated Notes for all purposes hereunder), so
         long as (A) the net proceeds of any such refinancing do not exceed the
         outstanding principal amount of the Indebtedness, plus accrued interest
         thereon and premiums required to be paid pursuant to the documents
         evidencing such Indebtedness being refinanced on the date of such
         refinancing, (B) such refinanced or extended Indebtedness has a
         maturity date no earlier than necessary to comply with Section 8.1(q)
         hereof and otherwise has terms no more restrictive, taken as a whole,
         in any material respect to the Borrower than the Indebtedness being
         refinanced or extended; provided, however, that in no event may
         Subordinated Indebtedness be refinanced or extended with Indebtedness
         that is not subordinated to the Obligations on substantially the same
         terms and conditions, and, in the sole determination of the
         Administrative Agent, no less favorable to the Lenders to any extent,
         as the Indebtedness being refinanced or extended, (iii) Guaranties
         permitted under Section 7.5 hereof, and (iv) the

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<PAGE>

         reimbursement obligations in respect of that certain letter of credit
         issued by KeyBank National Association for the account of Alexandria
         Indemnity Corporation in the face amount of $50,000."

                  (b)      Amendment to Section 7.3. Section 7.3 of the Loan
Agreement, Amendment and Waiver, is hereby amended by deleting such section in
its entirety and substituting in lieu thereof the following:

                  "Section 7.3 Amendment and Waiver. The Borrower shall not, and
         shall not permit any of its Subsidiaries to, (a) without the consent of
         the Required Lenders, enter into any amendment of, or agree to or
         accept or consent to any waiver of any of the material provisions of,
         as applicable, (i) its articles or certificate of incorporation or
         partnership agreement, (ii) its by-laws or membership agreement, (iii)
         the membership agreement of Wireless Alliance, (iv) the Subordinated
         Notes (or the related indenture) or (v) the Preferred Stock (or the
         related indentures), (v) the Senior Unsecured Notes (or the related
         indenture) or (b) without the consent of the Administrative Agent, the
         Saco River Agreement."

                  (c)      Amendment to Section 7.4. Section 7.4(a), Disposition
of Assets, is hereby amended by deleting such subsection in its entirety and
substituting in lieu thereof the following:

                           "(a)     Disposition of Assets. The Borrower shall
         not, and shall not permit any of its Subsidiaries to, at any time sell,
         lease, abandon, or otherwise dispose of any assets (other than assets
         disposed of in the ordinary course of business) without the prior
         written consent of the Lenders; provided, however, that the prior
         written consent of the Lenders shall not be required for (i) the
         transfer of assets (including, without limitation, cash or cash
         equivalents) among the Borrower and its Subsidiaries (excluding
         Wireless Alliance) or for the transfer of assets (including, without
         limitation, cash or cash equivalents, but excluding the Licenses)
         between or among Subsidiaries (excluding Wireless Alliance) of the
         Borrower, (ii) dispositions of assets so long as Section 2.7(b)(vi) is,
         to the extent applicable, complied with (provided, however, that, with
         respect to any such sale for which the purchase price is in excess of
         $10,000,000, the Borrower provides to the Administrative Agent and the
         Lenders on the date of such sale a certificate reflecting compliance
         with the terms and provisions of Sections 7.8, 7.9, 7.10, 7.11 and 7.12
         hereof both before and after giving effect to such sale or transfer) or
         (iii) a sale/leaseback transaction with respect to all or any part of
         the Borrower's or any Subsidiary's cellular towers, the documentation
         for which shall be subject to approval as to form by the Administrative
         Agent (such approval not to be unreasonably withheld)."

                  (d)      Amendment to Section 7.6. Section 7.6, Investments
and Acquisitions, is hereby amended by inserting the following new subsection
(g) at the end of such Section:

                           "(g)     The Borrower may make (i) Restricted
         Payments and Restricted Purchases permitted under Section 7.7 hereof,
         (ii) Investments in its Subsidiaries (other

                                       19

<PAGE>

         than Wireless Alliance) and the Borrower's Subsidiaries may make
         Investments in other Subsidiaries of the Borrower (other than Wireless
         Alliance); provided that the Administrative Agent contemporaneously
         obtains a first priority perfected security interest in such
         Investments and (iii) Guaranties of the Obligations."

                  (e)      Amendment to Section 7.7. Section 7.7 of the Loan
Agreement, Restricted Payments and Purchases, is hereby amended by deleting such
section in its entirety and substituting in lieu thereof the following:

                  "Section 7.7 Restricted Payments and Purchases. The Borrower
         shall not, and shall not permit any of its Subsidiaries to, directly or
         indirectly, declare or make any Restricted Payment or Restricted
         Purchase; provided, however, that Borrower and its Subsidiaries may
         make scheduled or required payments in respect of Indebtedness for
         Money Borrowed (other than Subordinated Indebtedness) provided that
         such Indebtedness for Money Borrowed is permitted under Section 7.1
         hereof and the Borrower and its Subsidiaries may make intercompany
         loans to the extent permitted by Section 7.6(g) hereof, and so long as
         no Default hereunder then exists or would be caused thereby, (a) and so
         long as a Subsidiary of the Borrower is not obligated on any
         Indebtedness to the Borrower or any of its Subsidiaries, such
         Subsidiary may make distributions to (i) any partner or shareholder of
         such Subsidiary holding a minority position with respect to such
         Subsidiary, so long as such Subsidiary makes a contemporaneous pro rata
         distribution to the Borrower or any of its Subsidiaries, and such
         partner or shareholder is not an Affiliate of the Borrower, and (ii)
         the Borrower or any of its Subsidiaries, (b) the Borrower may (i) make
         scheduled interest payments, when such payments are due and payable, on
         any Subordinated Indebtedness to the extent such Subordinated
         Indebtedness has scheduled payments in accordance with any
         subordination provisions thereunder, and (ii) repay, repurchase, redeem
         or otherwise acquire the Subordinated Notes or the Senior Unsecured
         Notes solely with the net proceeds of a contemporaneous refinancing
         permitted by Section 7.1 hereof, (c) the Borrower may make scheduled
         dividend payments or dividend payments required to make any Restricted
         Payment or Restricted Purchase permitted under Section 7.7(e) hereof,
         when such payments are due and payable on any Preferred Stock to the
         extent such Preferred Stock has dividend payments and such payments are
         made in accordance with any subordination provisions thereunder, (d)
         the Borrower may redeem, retire, or repay in whole or in part the
         Preferred Stock with shares of the common stock of the Borrower and (e)
         so long as such Preferred Stock, Subordinated Notes or Senior Unsecured
         Notes are contemporaneously retired, the Borrower may repurchase,
         repay, redeem or otherwise acquire the Preferred Stock, the Senior
         Unsecured Notes and/or the Subordinated Notes in an aggregate amount
         not to exceed (i) the gross proceeds from the issuance by the Borrower
         of the Senior Unsecured Notes minus (ii) $225,000,000 minus (iii) the
         sum of (A) sixty percent (60%) of the gross proceeds from the issuance
         of the Senior Unsecured Notes described in clause (e)(i) above in
         excess of $325,000,000, but less than or equal to $400,000,000, and (B)
         seventy-five percent (75%) of the gross proceeds from the issuance of
         the Senior Unsecured Notes described in clause (e)(i) above in excess
         of $400,000,000, but less than or equal to $500,000,000, plus (iv) an
         amount equal to sixty-

                                       20

<PAGE>

         six and two-thirds percent (66 2/3%) of the aggregate amount of
         voluntary repayments of the Loans made from the Borrower's Portion of
         Excess Cash Flow for all preceding calendar years, not to exceed in the
         aggregate forty percent (40%) of the Borrower's Portion of Excess Cash
         Flow for all prior years, minus (v) the amount of dividends paid on the
         Preferred Stock after July 31, 2003."

                  (f)      Amendment to Section 7.8. Section 7.8 of the Loan
Agreement, Total Leverage Ratio, is hereby amended by deleting Section 7.8 in
its entirety and substituting in lieu thereof the following:

                  "Section 7.8 Total Leverage Ratio. (a) As of the end of any
         calendar quarter, and (b) at the time of any Advance or issuance of
         Letter of Credit hereunder (after giving effect to such Advance or
         issuance of Letter of Credit), the Borrower shall not permit its Total
         Leverage Ratio to exceed the ratios set forth below during the periods
         indicated:

<TABLE>
<CAPTION>
             Period                                    Total Leverage Ratio
             ------                                    --------------------
<S>                                                    <C>
January 1, 2003 through                                       6.50:1.00
June 30, 2003

July 1, 2003 through the date immediately                     5.75:1.00
preceding the Fourth Amendment Effective Date

The Fourth Amendment Effective Date                           6.50:1.00
through June 30, 2004

July 1, 2004 through                                          6.25:1.00
June 30, 2005

July 1, 2005 through                                          6.00:1.00
December 31, 2005

January 1, 2006 through                                       5.75:1.00
March 31, 2006

April 1, 2006 through                                         5.50:1.00
June 30, 2006

July 1, 2006 through                                          5.00:1.00
December 31, 2007

January 1, 2008 and thereafter                                4.00:1.00"
</TABLE>

                                       21

<PAGE>

                  (g)      Amendment to Section 7.9. Section 7.9 of the Loan
Agreement, Senior Leverage Ratio, is hereby amended by deleting Section 7.9 in
its entirety and substituting in lieu thereof the following:

                  "Section 7.9 Senior Leverage Ratio. (a) As of the end of any
         calendar quarter, and (b) at the time of any Advance or issuance of
         Letter of Credit hereunder (after giving effect to such Advance or
         issuance of Letter of Credit), the Borrower shall not permit the ratio
         of (i) the principal amount of the Loans outstanding on such date to
         (ii) its Annualized Operating Cash Flow (as of the calendar quarter end
         being tested, or as of the most recently completed calendar quarter for
         which financial statements are required to have been delivered pursuant
         to Section 6.1 or 6.2 hereof, as the case may be) to exceed the ratios
         set forth below during the periods indicated:

<TABLE>
<CAPTION>
            Period                                    Senior Leverage Ratio
            ------                                    ---------------------
<S>                                                   <C>
January 1, 2003 through                                       4.25:1.00
the date immediately preceding the
Fourth Amendment Effective Date

The Fourth Amendment Effective Date                           3.00:1.00
through December 31, 2005

January 1, 2006 through                                       2.50:1.00
December 31, 2006

January 1, 2007 and thereafter                                2.00:1.00"
</TABLE>

                  (h)      Amendment to Section 7.10. Section 7.10 of the Loan
Agreement, Annualized Operating Cash Flow to Pro Forma Debt Service, is hereby
amended by deleting Section 7.10 in its entirety and substituting in lieu
thereof the following:

                           "Section 7.10 Annualized Operating Cash Flow to Pro
         Forma Debt Service. For all periods ending on or prior to December 31,
         2006, (a) as of the end of any calendar quarter, and (b) at the time of
         any Advance or issuance of Letter of Credit hereunder (after giving
         effect to such Advance or issuance of Letter of Credit), the Borrower
         shall not permit the ratio of (i) its Annualized Operating Cash Flow
         (as of the calendar quarter end being tested, or as of the most
         recently completed calendar quarter for which financial statements are
         required to have been delivered pursuant to Section 6.1 or 6.2 hereof,
         as the case may be) to (ii) the sum of (A) its Pro Forma Debt Service
         for the four calendar quarters immediately following the calculation
         date and (B) Interest Expense for the four calendar quarters
         immediately preceding the calculation date to be less than the ratios
         set forth below during the periods indicated:

                                       22

<PAGE>

<TABLE>
<CAPTION>
                                            Annualized Operating Cash
       Period                             Flow to Pro Forma Debt Service
       ------                             ------------------------------
<S>                                       <C>
June 30, 2003 through                               1.05:1.00
December 31, 2003

January 1, 2004 through                             1.20:1.00
December 31, 2004

January 1, 2005 through                             1.15:1.00
March 31, 2006

April 1, 2006 through                               1.20:1.00
December 31, 2006"
</TABLE>

                  (i)      Amendment to Section 7.11. Section 7.11 of the Loan
Agreement, Annualized Operating Cash Flow to Interest Expense, is hereby amended
by deleting Section 7.11 in its entirety and substituting in lieu thereof the
following:

                  "Section 7.11 Annualized Operating Cash Flow to Interest
         Expense. (a) As of the end of any calendar quarter, and (b) at the time
         of any Advance or issuance of Letter of Credit hereunder (after giving
         effect to such Advance or issuance of Letter of Credit), the Borrower
         shall not permit the ratio of (i) its Annualized Operating Cash Flow
         (as of the calendar quarter end being tested, or as of the most
         recently completed calendar quarter for which financial statements are
         required to have been delivered pursuant to Section 6.1 or 6.2 hereof,
         as the case may be) to (ii) its Interest Expense for the twelve (12)
         calendar months immediately preceding the calculation date to be less
         than the ratios set forth below for the periods indicated:

<TABLE>
<CAPTION>
                                                     Annualized Operating Cash
       Period                                        Flow to Interest Expense
       ------                                        -------------------------
<S>                                                  <C>
April 1, 2002 through                                         1.50:1.00
December 31, 2005

January 1, 2006 and                                           2.00:1.00
thereafter"
</TABLE>

                  (j)      Amendment to Section 7.12. Section 7.12 of the Loan
Agreement, Fixed Charge Coverage Ratio, is hereby amended by deleting Section
7.12 in its entirety and substituting in lieu thereof the following:

                  "Section 7.12 Fixed Charge Coverage Ratio. (a) As of the end
         of any calendar quarter, and (b) at the time of any Advance or issuance
         of Letter of Credit hereunder

                                       23

<PAGE>

         (after giving effect to such Advance or issuance of Letter of Credit),
         the Borrower shall not permit the ratio of (i) the sum of (A) its
         Annualized Operating Cash Flow (as of the calendar quarter end being
         tested, or as of the most recently completed calendar quarter for which
         financial statements are required to have been delivered pursuant to
         Section 6.1 or 6.2 hereof, as the case maybe) and (B) the amount of the
         Available Revolving Loan Commitment (to the extent that Revolving Loans
         could be advanced without violating Sections 7.8 or 7.9 hereof) as of
         the end of such calendar quarter or at the time of such Advance or
         issuance of such Letter of Credit, as applicable to (ii) the sum of,
         without duplication, for the twelve (12) calendar months preceding the
         calculation date (A) Capital Expenditures made during such period plus
         (B) Debt Service for such period plus (C) Restricted Payments made
         during such period (excluding any purchases consummated prior to
         maturity of the Preferred Stock and the Subordinated Notes and
         permitted under Section 7.7) to be less than the ratios set forth below
         during the periods indicated:

<TABLE>
<CAPTION>
           Period                                    Fixed Charge Coverage Ratio
           ------                                    ---------------------------
<S>                                                  <C>
July 1, 2003 through June 30, 2004                            1.00:1.00

July 1, 2004 and thereafter                                   1.10:1.00"
</TABLE>

         8.       Amendments to Article 8.

                  (a)      Amendment to Section 8.1. Section 8.1 of the Loan
Agreement, Events of Default, is hereby amended by (i) inserting "5.17," after
the reference to Section 5.10 in Section 8.1(c), (ii) deleting Section 8.1(n) in
its entirety and by substituting in lieu thereof Section 8.1(n) set forth below,
and (iii) by inserting a new Section 8.1(q) and 8.1(r) before the period which
sections shall read as set forth below:

                           "(n)     (i) Any "person" or "group" (within the
         meaning of Sections 13(d)(3) and 14(d)(2) of the Exchange Act or any
         successor provision to either of the foregoing, including any group
         acting for the purpose of acquiring, holding or disposing of securities
         within the meaning of Rule 13d-5(b)(1) under the Exchange Act) is or
         becomes the "beneficial owner" (as defined in Rule 13d-3 under the
         Exchange Act), directly or indirectly, of fifty percent (50%) or more
         of the voting or economic Capital Stock of the Borrower, (ii) during
         any period of 24 consecutive months, individuals who at the beginning
         of such period constituted the Board of Directors of the Borrower
         (together with any new directors whose election by such Board or whose
         nomination for election by the shareholders of the Borrower 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 Borrower then in office or (iii) any "change of control" under the
         Senior Unsecured Notes;

                                       24

<PAGE>

                           "(q)     the Borrower shall fail to refinance or
         extend the maturity date for (i) the Subordinated Notes on or before
         November 15, 2007 such that the maturity of the Subordinated Notes
         would occur after January 1, 2010, or (ii) the Senior Unsecured Notes
         on or before July 31, 2009 such that the maturity of the Senior
         Unsecured Notes would occur after March 31, 2010; or

                           (r)      other than in connection with a refinancing
         permitted by Section 7.1 hereof, the Borrower makes any repurchases,
         repayments, redemptions or other acquisitions of the Senior Unsecured
         Notes in violation of Section 7.7 hereof."

                  (b)      Amendment to Section 8.2. Sections 8.2(a) and (b) of
the Loan Agreement, Remedies, is hereby amended by deleting such sections in
their entirety and substituting in lieu thereof the following:

                           "(a)     If an Event of Default specified in Section
         8.1 (other than an Event of Default under Section 8.1(f) or (g) hereof)
         shall have occurred and shall be continuing, the Administrative Agent,
         at the request of the Required Lenders subject to Section 9.8(a)
         hereof, shall (i) terminate the Commitments, the Swing Line Commitment
         and the Incremental Facility Commitment, (ii) declare the principal of
         and interest on the Loans and the Notes and the Incremental Facility
         Notes, and all other amounts owed to the Lenders, the Swing Line Lender
         and the Administrative Agent under this Agreement, the Notes and the
         Incremental Facility Notes, and any other Loan Documents to be
         forthwith due and payable without presentment, demand, protest or other
         notice of any kind, all of which are hereby expressly waived, anything
         in this Agreement, the Notes and the Incremental Facility Notes, or any
         other Loan Document to the contrary notwithstanding, and the
         Commitment, the Swing Line Commitment and the Incremental Facility
         Commitment shall thereupon forthwith terminate and/or (iii) require the
         Borrower to, and the Borrower shall thereupon, deposit in an interest
         bearing reserve account with the Administrative Agent, as cash
         collateral for the Obligations, an amount equal to the maximum amount
         currently or at any time thereafter available to be drawn on all
         outstanding Letters of Credit, and the Borrower hereby pledges to the
         Administrative Agent, the Lenders having a Revolving Loan Commitment
         and the Issuing Bank and grants to them a security interest in, all
         such cash as security for the Obligations. All amounts (and accrued
         interest thereon) then remaining in the Letter of Credit Reserve
         Account shall be returned to the Borrower promptly after all Events of
         Default have been waived or cured to the reasonable satisfaction of the
         Administrative Agent.

                           (b)      Upon the occurrence and continuance of an
         Event of Default specified in Section 8.1(f) or (g) hereof, all
         principal, interest and other amounts due hereunder and under the Notes
         and the Incremental Facility Notes, and all other Obligations, shall
         thereupon and concurrently therewith become due and payable and the
         Commitment and the Incremental Facility Commitment shall forthwith
         terminate and the principal amount of the Loans outstanding hereunder
         shall bear interest at the Default Rate, and the Borrower shall
         thereupon forthwith deposit in an interest bearing reserve account with
         the Administrative Agent, as cash collateral for the Obligations, an
         amount

                                       25

<PAGE>

         equal to the maximum amount currently or at any time thereafter
         available to be drawn on all outstanding Letters of Credit, all without
         any action by the Administrative Agent, the Swing Line Lender, the
         Issuing Bank, the Lenders, or the Required Lenders, or any of them and
         without presentment, demand, protest or other notice of any kind, all
         of which are expressly waived, anything in this Agreement or in the
         other Loan Documents to the contrary notwithstanding. All amounts (and
         accrued interest thereon) then remaining in the Letter of Credit
         Reserve Account shall be returned to the Borrower promptly after all
         Events of Default have been waived or cured to the reasonable
         satisfaction of the Administrative Agent."

         9.       Amendment to Article 11. Article 11 of the Loan Agreement,
Miscellaneous, is hereby amended by deleting Section 11.17, Senior Debt, in its
entirety and by inserting in lieu thereof the following:

                           "Section 11.17 Senior Debt. The Obligations are
secured by the Security Documents and are intended by the parties hereto to be
in parity with the Interest Hedge Agreements which are Loan Documents and senior
in right of payment to all Indebtedness of the Borrower or any of its
Subsidiaries which by its terms or by separate agreement is subordinate in right
of payment to any other Indebtedness of the Borrower or any of its
Subsidiaries."

         10.      Amendment to Notice of Incremental Facility. The Notice of
Incremental Facility D Commitment dated as of January 2, 2001 from the Borrower
to Toronto Dominion (Texas), Inc. is hereby amended by deleting the "Interest
Rate" section in Schedule 2 thereto in its entirety, and by substituting in lieu
thereof the following:

         "For all purposes under the Loan Agreement, the Incremental Facility D
         shall accrue interest as set forth for the Loans under Section 2.3(f)
         of the Loan Agreement with the following Applicable Margins:

<TABLE>
<CAPTION>
                                              Base Rate Advance                     LIBOR Advance
     Total Leverage Ratio                     Applicable Margin                   Applicable Margin
     --------------------                     -----------------                   -----------------
<S>                                           <C>                                 <C>
Greater than 6.50:1.00                              3.250%                              4.250%

Equal to or less than 6.50:1.00                     3.000%                             4.000%"
</TABLE>

         11.      Collateral. Each of the Borrower and each Guarantor, as
defined in Section 22 hereof (each a "Pledgor"), hereby grants and assigns(to
the extent permitted by Applicable Law in the case of Licenses, and subject to
(i) in the case of the Borrower, Sections 23 and 25 of the Security Agreement
and (ii) in the case of any Guarantor, Sections 22 and 24 of the Subsidiary
Security Agreement), and reaffirms its grant and assignment to the extent
previously included in, and subject to the limitations set forth in, the
Security Documents, to the Administrative Agent, on behalf of the Lenders, a
continuing security interest in and security title to such Pledgor's

                                       26

<PAGE>

right, title and interest in and to such property described below and all
substitutions therefor, accessions thereto and improvements thereon, all of
which shall be included in the definition of "Collateral" under the Loan
Agreement (unless otherwise defined herein, all capitalized terms in this
Section 11 shall have the meanings ascribed thereto under the Security
Documents):

         Deposit Accounts

                  All deposit accounts of the Pledgor, including, without
         limitation, all demand, time, savings, passbook or similar accounts
         maintained with a bank or similar financial institution, other than (i)
         that certain segregated deposit account set up by Alexandria Indemnity
         Corporation solely for the purposes of satisfying any regulatory
         reserve requirements and (ii) any account securing the obligations
         under that certain letter of credit issued by KeyBank National
         Associations for the account of Alexandria Indemnity Corporation in the
         face amount of $50,000 (the "Deposit Accounts");

         Payment Intangibles

                  All payment intangibles;

         Letter of Credit Rights

                  All letter of credit rights, including, without limitation,
         rights to payment or performance under a letter of credit, whether or
         not the Pledgor, as beneficiary, has demanded or is entitled to demand
         payment or performance;

         Software

                  All software of the Pledgor, other than software embedded in
         any category of goods, including, without limitation, all computer
         programs and all supporting information provided in connection with a
         transaction related to any program;

         Supporting Obligations

                  All supporting obligations, including, without limitation,
         letters of credit and guaranties issued in support of Accounts, chattel
         paper, documents, Intangibles, instruments, or Investment Property; and

         Proceeds

                  All products and proceeds of any of the above, and all
         proceeds of any loss of, damage to or destruction of any of the above,
         whether insured or not insured, and all other proceeds of any sale,
         lease or other disposition of any property or interest therein referred
         to above, including, without limitation, the proceeds of the sale or
         other disposition of any License, together with all proceeds of any
         policies of insurance covering any or all of the above, the proceeds of
         any award in condemnation with respect

                                       27

<PAGE>

         to any of the property covered above, any rebates or refunds, whether
         for taxes or otherwise, and all proceeds of any such proceeds.

         12.      Amendment Fee. The Borrower shall pay to the Administrative
Agent, contemporaneously with the receipt by the Borrower of the proceeds from
the Senior Unsecured Notes pursuant to Section 15(d) hereof and upon
satisfaction of all other conditions set forth in Section 15 hereof (other than
clause (c) thereof), on behalf of the Lenders executing and delivering this
Amendment (a) on or prior to July 28, 2003, an amendment fee in the amount of
0.625%, and (b) after July 28, 2003, but on or prior to July 30, 2003, an
amendment fee in the amount of 0.375%, in each case, of the sum of (x) the
aggregate outstanding Loans (other than the outstanding Revolving Loans and
Swing Line Loans) of such Lender and (y) the Revolving Loan Commitments of such
Lender (such sum, the "Amendment Fee") which Amendment Fee shall be calculated
after giving effect to the repayments of the Loans required by Section 15(d)
hereof and any reductions of the Revolving Loan Commitments as set forth herein.
The Administrative Agent shall distribute pro rata to each Lender executing this
Amendment a portion of the Amendment Fee based on such Lender's portion of the
outstanding Loans (other than the outstanding Revolving Loans and Swing Line
Loans) and such Lender's Revolving Loan Commitment. The Amendment Fee shall be
fully earned when due and non-refundable when paid.

         13.      Amendment to Loan Documents. All of the Loan Documents are
hereby amended to the extent necessary to give full force and effect to the
amendments contained in this Amendment.

         14.      Representations and Warranties. The Borrower hereby represents
and warrants, after giving effect to this Amendment, to and in favor of the
Administrative Agent and the Lenders as follows:

                  (a)      each representation and warranty set forth in Article
4 of the Loan Agreement is hereby restated and affirmed as true and correct in
all material respects as of the date hereof, except to the extent previously
fulfilled in accordance with the terms of the Loan Agreement or to the extent
relating specifically to the Agreement Date (or date prior thereto) or otherwise
inapplicable;

                  (b)      the Borrower has the corporate power and authority
(i) to enter into this Amendment and (ii) to do all acts and things as are
required or contemplated hereunder to be done, observed and performed by it;

                  (c)      this Amendment has been duly authorized, validly
executed and delivered by one or more Authorized Signatories of the Borrower,
and this Amendment and the Loan Agreement constitute the legal, valid and
binding obligations of the Borrower, enforceable against the Borrower in
accordance with its respective terms, subject, as to enforcement of remedies, to
the following qualifications: (i) an order of specific performance and an
injunction are discretionary remedies and, in particular, may not be available
where damages are considered an adequate remedy at law and (ii) enforcement may
be limited by bankruptcy, insolvency,

                                       28

<PAGE>

liquidation, reorganization, reconstruction and other similar laws affecting
enforcement of creditors' rights generally (insofar as any such law relates to
the bankruptcy, insolvency or similar event of the Borrower);

                  (d)      the execution and delivery of this Amendment and
performance by the Borrower under the Loan Agreement does not and will not
require the consent or approval of any regulatory authority or governmental
authority or agency having jurisdiction over the Borrower which has not already
been obtained, nor be in contravention of or in conflict with the Certificate of
Incorporation of the Borrower, or any provision of any statute, judgment, order,
indenture, instrument, agreement, or undertaking, to which the Borrower is party
or by which the Borrower's assets or properties are bound; and

                  (e)      Schedule 1 attached hereto sets forth all of the
Subsidiaries of the Borrower and the percentage ownership interest of the
Borrower and any other Persons in each such Subsidiary as of the date hereof.

         15.      Conditions Precedent to Effectiveness of Amendment. The
effectiveness of this Amendment is subject to the fulfillment on or prior to
August 11, 2003 of the following conditions precedent:

                  (a)      receipt by the Administrative Agent of duly executed
counterpart signature pages of the Borrower and the Required Lenders to this
Amendment;

                  (b)      all of the representations and warranties of the
Borrower under Section 14 hereof being true and correct in all material
respects;

                  (c)      receipt by the Administrative Agent of the Amendment
Fee for each of the approving Lenders;

                  (d)      repayment of the Term Loans in an aggregate amount of
not less than $225,000,000 which repayment shall be applied on a pro rata basis
to the Term Loans outstanding and shall be applied to the scheduled repayments
thereof under the Loan Agreement in order of maturity; provided, however, that
the Borrower shall make an additional repayment of the Term Loans, to be applied
on a pro rata basis to the Term Loans outstanding and applied to the scheduled
repayments in inverse order of maturity, of (i) sixty percent (60%) of the
excess cash proceeds (net of the costs and expenses of issuance, including,
without limitation, underwriting commissions, legal, investment banking,
brokerage and accounting and other professional fees, sales commissions,
discounts, and disbursements and expenses incurred in connection with such
issuance) from the Borrower's issuance of the Senior Unsecured Notes (the "Net
Cash Proceeds") in excess of $325,000,000, but less than or equal to
$400,000,000, (ii) seventy-five percent (75%) of the Net Cash Proceeds in excess
of $400,000,000, but less than or equal to $500,000,000, and (iii) one hundred
percent (100%) of the Net Cash Proceeds in excess of $500,000,000;

                                       29

<PAGE>

                  (e)      receipt by the Administrative Agent of a certificate,
in form and substance reasonably satisfactory to the Administrative Agent, from
an Authorized Signatory of the Borrower certifying that as of the Fourth
Amendment Effective Date no Default or Event of Default exists or would exist as
a result of this Fourth Amendment or the issuance of the Senior Unsecured Notes;

                  (f)      payment by the Borrower of all fees and expenses of
counsel to the Administrative Agent and FTI Consulting, Inc.;

                  (g)      the Senior Unsecured Notes shall have been issued
concurrently herewith on terms and conditions satisfactory to the Required
Lenders, such terms and conditions including but not limited to the following:

                           (i)      there shall be no scheduled repayment of the
         principal of the Senior Unsecured Notes, including any sinking fund
         payments or other principal payments (other than usual and customary
         mandatory repayments for changes of control and, subject to the ability
         to first repay the Loans from such proceeds, asset sales) until at
         least January 31, 2010;

                           (ii)     the final maturity of the Senior Unsecured
         Notes shall be no earlier than January 31, 2010;

                           (iii)    the Senior Unsecured Notes shall be
         unsecured and shall not be guaranteed by any Subsidiary of the
         Borrower; and

                           (iv)     the Senior Unsecured Notes shall contain no
         covenants or provisions more restrictive, taken as a whole, on the
         Borrower and its Subsidiaries than the Loan Agreement, and shall have
         no financial covenants that are maintenance in nature;

                  (h)      receipt by the Administrative Agent of the legal
opinions of Skadden, Arps, Slate, Meagher & Flom (Illinois) and Moss & Barnett,
counsels to the Borrower, addressed to each Lender and the Administrative Agent
and dated as of the date hereof, in form and substance reasonably satisfactory
to the Administrative Agent; and

                  (i)      receipt of any other documents or instruments that
the Administrative Agent, the Lenders signatory hereto or any of them, may
reasonably request, certified by an officer of the Borrower if so requested.

         16.      Conditions Subsequent. The Borrower shall (a) on or prior to
September 30, 2003 provide to the Administrative Agent control agreements in
form and substance reasonably satisfactory to the Administrative Agent for all
of the Borrower's and its Subsidiaries' Deposit Accounts other than (i) any such
accounts with aggregate available deposits or credits of less than $5,000,000,
(ii) that certain segregated deposit account set up by Alexandria Indemnity
Corporation solely for the purposes of satisfying any regulatory reserve
requirements, (iii) any

                                       30

<PAGE>

account securing the obligations under that certain letter of credit issued by
KeyBank National Association for the account of Alexandria Indemnity Corporation
in the face amount of $50,000 and (iv) any such account in the name of Wireless
Alliance and (b) use its best efforts with respect to real estate owned by the
Borrower and its commercially reasonable efforts with respect to real estate
leased by the Borrower to provide, in each case, as promptly as practicable
following the date hereof to the Administrative Agent duly executed mortgages,
deeds of trust and similar documents or instruments, all in form and substance
reasonably satisfactory to the Administrative Agent, necessary to perfect the
Administrative Agent's lien, for the benefit of the Lenders, on substantially
all of the real estate owned or leased by the Borrower (including, without
limitation, the headquarters building of the Borrower).

         17.      No Other Amendment or Waiver. Except for the amendments set
forth above, the text of the Loan Agreement and all other Loan Documents shall
remain unchanged and in full force and effect. No waiver by the Administrative
Agent or the Lenders under the Loan Agreement or any other Loan Document is
granted or intended except as expressly set forth herein, and the Administrative
Agent and the Lenders expressly reserve the right to require strict compliance
in all other respects (whether or not in connection with any Requests for
Advance). Except as set forth herein, the amendments agreed to herein shall not
constitute a modification of the Loan Agreement or any of the other Loan
Documents, or a course of dealing with the Administrative Agent and the Lenders
at variance with the Loan Agreement or any of the other Loan Documents, such as
to require further notice by the Administrative Agent and the Lenders, or the
Required Lenders to require strict compliance with the terms of the Loan
Agreement and the other Loan Documents in the future.

         18.      Loan Documents. This document shall be deemed to be a Loan
Document for all purposes under the Loan Agreement and the other Loan Documents.

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

         20.      Governing Law. This Amendment shall be construed in accordance
with and governed by the laws of the State of New York.

         21.      Severability. Any provision of this Amendment which is
prohibited or unenforceable shall be ineffective to the extent of such
prohibition or unenforceability without invalidating the remaining provisions
hereof in that jurisdiction or affecting the validity or enforceability of such
provision in any other jurisdiction.

         22.      Guarantor Acknowledgment.

                  (a)      Each of the Subsidiaries set forth on Schedule 1
attached hereto (other than Wireless Alliance) are collectively referred to
herein as the "Guarantors," and the Guaranties executed by the Guarantors are
collectively referred to herein as the "Guaranties."

                                       31

<PAGE>

                  (b)      Each Guarantor hereby acknowledges that it has
reviewed the terms and provisions of the Loan Agreement and this Amendment. Each
Guarantor hereby confirms that the Guaranty to which it is a party or otherwise
bound will continue to guarantee, as the case may be, to the fullest extent
possible in accordance with such Guaranty the payment and performance of all
"Obligations" under each of the Guaranties, as the case may be (in each case as
such term is defined in the applicable Guaranty), including without limitation
the payment and performance of all Obligations of the Borrower now or hereafter
existing under or in respect of the Loan Agreement and the Notes defined
therein.

                  (c)      Each Guarantor acknowledges and agrees that any of
the other Loan Documents to which it is a party or otherwise bound shall
continue in full force and effect and that all of its obligations thereunder
shall be valid and enforceable, subject, as to enforcement of remedies, to
applicable bankruptcy, insolvency, fraudulent conveyance, reorganization,
moratorium and similar laws affecting creditors' rights and remedies generally,
and subject, as to enforceability, to general principles of equity, and shall
not be impaired or limited by the execution or effectiveness of this Amendment.
Each Guarantor represents and warrants that all representations and warranties
contained in any Loan Documents to which it is a party or otherwise bound are
true, correct and complete in all material respects on and as of the date hereof
to the same extent as though made on and as of that date, except to the extent
such representations and warranties specifically relate to an earlier date, in
which case they were true, correct and complete in all material respects on and
as of such earlier date.

                  (d)      Each Guarantor acknowledges and agrees that (i)
notwithstanding the conditions to effectiveness set forth in this Amendment,
such Guarantor is not required by the terms of the Loan Agreement or any other
Loan Document to consent to the amendments of the Loan Agreement effected
pursuant to this Amendment and (ii) nothing in the Loan Agreement, this
Amendment or any other Loan Document shall be deemed to require the consent of
such Guarantor to any future amendments to the Loan Agreement.

         23.      Releases. As a material inducement to the Lenders to enter
into this Amendment, all in accordance with and subject to the terms and
conditions of this Amendment, all of which are to the direct advantage and
benefit of the Borrower, and all of its respective successors and assigns, the
Borrower does hereby remise, release, acquit, satisfy and forever discharge the
Lenders, and all of the respective past and present officers, directors,
trustees, employees, agents, attorneys, representatives, participants, heirs,
successors and assigns of the Lenders from any and all manner of liabilities,
obligations, actions, claims, demands and causes of action of any nature
whatsoever, whether at law or in equity, either now accrued or hereafter
maturing, whether known or unknown, in each case, which occurred, existed,
originated or arose prior to the date of this Amendment, arising out of, in
connection with or related to any and all obligations owed or owing to the
Lenders under the Loan Agreement and any other Loan Document, and including, but
not limited to, the administration or funding thereof and indebtedness evidenced
and secured thereby.

         24.      Tax Disclosure. Notwithstanding any provisions to the contrary
in any Loan Document, the Borrower, Borrower's Subsidiaries, the Lenders, the
Issuing Bank and the

                                       32

<PAGE>

Administrative Agent (and each employee, representative, or other agent of the
parties) may disclose to any and all Persons, without limitation of any kind,
the tax treatment and tax structure of the transaction and all materials of any
kind (including opinions or other tax analyses) that are provided to such party
relating to such tax treatment and tax structure.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

                                       33

<PAGE>

         IN WITNESS WHEREOF, the parties hereto have executed this Amendment or
caused it to be executed by their duly authorized officers, all as of the day
and year first above written.

BORROWER:                           RURAL CELLULAR CORPORATION, a Minnesota
                                    corporation

                                    By:/s/ Wesley E. Schultz
                                       -----------------------------------------
                                       Name: Wesley E. Schultz
                                       Title: Executive Vice President and CFO

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                                Signature Page 1

<PAGE>

ADMINISTRATIVE AGENT
AND LENDER:                         TORONTO DOMINION (TEXAS), INC., as
                                    Administrative Agent and as a Lender

                                    By: /s/Neva Nesbitt
                                        ----------------------------------------
                                    Name: Neva Nesbitt
                                    Title: Vice President

Date Delivered: 7/25.03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                                Signature Page 2

<PAGE>

NAME OF LENDER:                  ADDISON CDO, LIMITED (#1279)

                                 By: Pacific Investment Management Company LLC,
                                     as its Investment Advisor

                                 By: /s/Mohan V. Phansalkar
                                     -------------------------------------------
                                 Name: Mohan V. Phansalkar
                                 Title: Executive Vice President

Date Delivered: July 28, 2003

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                                Signature Page 3

<PAGE>

NAME OF LENDER:                  ATHENA CDO, LIMITED (#1277)

                                 By: Pacific Investment Management Company LLC,
                                     as its Investment Advisor

                                 By: /s/Mohan V. Phansalkar
                                     -------------------------------------------
                                 Name: Mohan V. Phansalkar
                                 Title: Executive Vice President

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                                Signature Page 4

<PAGE>

NAME OF LENDER:                  BEDFORD CDO, LIMITED (#1276)

                                 By: Pacific Investment Management Company LLC,
                                     as its Investment Advisor

                                 By: /s/Mohan V. Phansalkar
                                     -------------------------------------------
                                 Name: Mohan V. Phansalkar
                                 Title: Executive Vice President

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                                Signature Page 5

<PAGE>

NAME OF LENDER:                 CAPTIVA III FINANCE LTD. (Acct. 275), as advised
                                by Pacific Investment Management Company LLC

                                        By: /s/David Dyer
                                            ------------------------------------
                                        Name: David Dyer
                                        Title: Director

Date Delivered: 7/28/2003

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                                Signature Page 6

<PAGE>

NAME OF LENDER:                 CAPTIVA IV FINANCE LTD. (Acct. 1275), as advised
                                by Pacific Investment Management Company LLC

                                         By:/s/David Dyer
                                            ------------------------------------
                                         Name: David Dyer
                                         Title: Director

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                                Signature Page 7

<PAGE>

NAME OF LENDER:                  CATALINA CDO LTD (#1287)

                                 By:  Pacific Investment Management Company LLC,
                                      as its Investment Advisor

                                      By: /s/ Mohan V. Phansalkar
                                          --------------------------------------
                                      Name: Mohan V. Phansalkar
                                      Title: Executive Vice President

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                                Signature Page 8

<PAGE>

NAME OF LENDER:                  DELANO COMPANY (#274)

                                 By: Pacific Investment Management Company LLC,
                                     as its Investment Advisor

                                     By: /s/ Mohan V. Phansalkar
                                         ---------------------------------------
                                     Name: Mohan V. Phansalkar
                                     Title: Executive Vice President

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                                Signature Page 9

<PAGE>

NAME OF LENDER:                  JISSEKIKUN FUNDING, LTD. (#1288)

                                 By: Pacific Investment Management Company LLC,
                                     as its Investment Advisor

                                     By: /s/ Mohan V. Phansalkar
                                         ---------------------------------------
                                     Name: Mohan V. Phansalkar
                                     Title: Executive Vice President

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 10

<PAGE>

NAME OF LENDER:                  PIMCO HIGH YIELD FUND (#705)

                                 By: Pacific Investment Management Company LLC,
                                     as its Investment Advisor for the PIMCO
                                     High Yield Fund, acting through Investors
                                     Fiduciary Trust Company in the Nominee Name
                                     of IFTCO

                                     By: /s/ Mohan V. Phansalkar
                                         ---------------------------------------
                                     Name: Mohan V. Phansalkar
                                     Title: Executive Vice President

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 11

<PAGE>

NAME OF LENDER:                  PIMCO PRIVATE HIGH YIELD PORTFOLIO 9#706)

                                 By: Pacific Investment Management Company LLC,
                                     as its Investment Advisor, acting through
                                     Investors Fiduciary Trust Company in the
                                     Nominee Name of IFTCO

                                     By: /s/ Mohan V. Phansalkar
                                         ---------------------------------------
                                     Name: Mohan V. Phansalkar
                                     Title: Executive Vice President

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 12

<PAGE>

NAME OF LENDER:                  ROYALTON COMPANY (#280)

                                 By: Pacific Investment Management Company LLC,
                                     as its Investment Advisor

                                     By: /s/ Mohan V. Phansalkar
                                         ---------------------------------------
                                     Name: Mohan V. Phansalkar
                                     Title: Executive Vice President

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 13

<PAGE>

NAME OF LENDER:                  AERIES FINANCE-II LTD.

                                 By: INVESCO Senior Secured Management, Inc.,
                                     as Sub-Managing Agent

                                     By: /s/ Scott Baskind
                                         ---------------------------------------
                                     Name: Scott Baskind
                                     Title: Authorized Signatory

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 14

<PAGE>

NAME OF LENDER:                  SEQUILS-MAGNUM, LTD. (#1280)

                                 By: Pacific Investment Management Company LLC,
                                     as its Investment Advisor

                                     By: /s/ Mohan V. Phansalkar
                                         ---------------------------------------
                                     Name: Mohan V. Phansalkar
                                     Title: Executive Vice President

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 15

<PAGE>

NAME OF LENDER:                  AMARA-1 FINANCE, LTD.

                                 By: INVESCO Senior Secured Management, Inc.,
                                     as Financial Manager

                                 By: /s/ Scott Baskind
                                     -------------------------------------------
                                 Name: Scott Baskind
                                 Title: Authorized Signatory

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 16

<PAGE>

NAME OF LENDER:                  AMARA 2 FINANCE, LTD.

                                 By: INVESCO Senior Secured Management, Inc.,
                                     as Financial Manager

                                 By: /s/ Scott Baskind
                                     -------------------------------------------
                                 Name: Scott Baskind
                                 Title: Authorized Signatory

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 17

<PAGE>

NAME OF LENDER:                  AVALON CAPITAL LTD.

                                 By: INVESCO Senior Secured Management, Inc.,
                                     as Portfolio Advisor

                                 By: /s/ Scott Baskind
                                     -------------------------------------------
                                 Name: Scott Baskind
                                 Title: Authorized Signatory

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 18

<PAGE>

NAME OF LENDER:                  AVALON CAPITAL LTD. 2

                                 By: INVESCO Senior Secured Management, Inc.,
                                     as Portfolio Advisor

                                 By: /s/ Scott Baskind
                                     -------------------------------------------
                                 Name: Scott Baskind
                                 Title: Authorized Signatory

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 19
<PAGE>

NAME OF LENDER:                  CERES II FINANCE LTD.

                                 By: INVESCO Senior Secured Management, Inc.,
                                     as Sub-Managing Agent (Financial)

                                 By: /s/ Scott Baskind
                                     -------------------------------------------
                                 Name: Scott Baskind
                                 Title: Authorized Signatory

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 20

<PAGE>

NAME OF LENDER:                  CHARTER VIEW PORTFOLIO

                                 By: INVESCO Senior Secured Management, Inc.,
                                     as Investment Advisor

                                 By: /s/ Scott Baskind
                                     -------------------------------------------
                                 Name: Scott Baskind
                                 Title: Authorized Signatory

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 21

<PAGE>

NAME OF LENDER:                  DIVERSIFIED CREDIT PORTFOLIO LTD.

                                 By: INVESCO Senior Secured Management, Inc.,
                                     as Investment Advisor

                                 By: /s/ Scott Baskind
                                     -------------------------------------------
                                 Name: Scott Baskind
                                 Title: Authorized Signatory

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 22

<PAGE>

NAME OF LENDER:                  AIM FLOATING RATE FUND

                                 By: INVESCO Senior Secured Management, Inc.,
                                     as Attorney in fact

                                 By: /s/ Scott Baskind
                                      ------------------------------------------
                                 Name: Scott Baskind
                                 Title: Authorized Signatory

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 23

<PAGE>

NAME OF LENDER:                  INVESCO CBO 2000-1 LTD.

                                 By: INVESCO Senior Secured Management, Inc.,
                                     as Portfolio Advisor

                                 By: /s/ Scott Baskind
                                     -------------------------------------------
                                 Name: Scott Baskind
                                 Title: Authorized Signatory

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 24

<PAGE>

NAME OF LENDER:                  INVESCO EUROPEAN CDO I S.A.

                                 By: INVESCO Senior Secured Management, Inc.,
                                     as Collateral Manager

                                 By: /s/ Scott Baskind
                                     -------------------------------------------
                                 Name: Scott Baskind
                                 Title: Authorized Signatory

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 25

<PAGE>

NAME OF LENDER:                  SEQUILS-LIBERTY, LTD.

                                 By: INVESCO Senior Secured Management, Inc.,
                                     as Collateral Manager

                                 By: /s/ Scott Baskind
                                     -------------------------------------------
                                 Name: Scott Baskind
                                 Title: Authorized Signatory

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 26

<PAGE>

NAME OF LENDER:                  AMMC CDO II, LIMITED

                                 By: American Money Management Corp.,
                                     as Collateral Manager

                                     By: /s/ David P. Meyer
                                         --------------------------------------
                                     Name: David P. Meyer
                                     Title: Vice President

Date Delivered: 7/25/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 27

<PAGE>

NAME OF LENDER:                  ALPHA US SUBFUND II, LLC

                                 By: GoldenTree Asset Management, LP

                                     By: /s/ Frederick S. Haddad
                                         ---------------------------------------
                                     Name: Frederick s. Haddad
                                     Title: Portfolio Manager

Date Delivered: 7/25/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 28

<PAGE>

NAME OF LENDER:             ARCHIMEDES FUNDING II, LTD.

                            By: ING Capital Advisors LLC, as Collateral Manager

                                By: /s/ Gordon R. Cook
                                    --------------------------------------------
                                Name: Gordon R. Cook
                                Title: Managing Director

                            ARCHIMEDES FUNDING III, LTD.

                            By: ING Capital Advisors LLC, as Collateral Manager

                                By: /s/ Gordon R. Cook
                                    --------------------------------------------
                                Name: Gordon R. Cook
                                Title: Managing Director

                            ARCHIMEDES FUNDING IV (CAYMAN), LTD.

                            By: ING Capital Advisors LLC, as Collateral Manager

                                By: /s/ Gordon R. Cook
                                    --------------------------------------------
                                Name: Gordon R. Cook
                                Title: Managing Director

                            ENDURANCE CLO I, LTD.

                            By: ING Capital Advisors LLC, as Portfolio Manager

                                By: /s/ Gordon R. Cook
                                    --------------------------------------------
                                Name: Gordon R. Cook
                                Title: Managing Director

                            NEMEAN CLO, LTD.

                            By: ING Capital Advisors LLC, as Investment Manager

                                By: /s/ Gordon R. Cook
                                    --------------------------------------------
                                Name: Gordon R. Cook
                                Title: Managing Director

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 29

<PAGE>

                            SEQUILS-ING I (HBDGM), LTD.

                            By: ING Capital Advisors LLC, as Collateral Manager

                                By: /s/ Gordon R. Cook
                                    --------------------------------------------
                                Name: Gordon R. Cook
                                Title: Managing Director

                            ING-ORYX CLO, LTD.

                            By: ING Capital Advisors LLC, as Collateral Manager

                                By: /s/ Gordon R. Cook
                                    --------------------------------------------
                                Name: Gordon R. Cook
                                Title: Managing Director

                            BALANCED HIGH-YIELD FUND II, LTD.

                            By: ING Capital Advisors LLC, as Asset Manager

                                By: /s/ Gordon R. Cook
                                    --------------------------------------------
                                Name: Gordon R. Cook
                                Title: Managing Director

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 30

<PAGE>

NAME OF LENDER:             AURUM CLO 2002-I LTD.

                            By: Columbia Management Advisors, Inc.
                                (f/k/a Stein Roe & Farnham Incorporated),
                                as Investment Manager

                                By: /s/ James R. Fellows
                                    --------------------------------------------
                                Name: James R. Fellows
                                Title: Sr. Vice President & Portfolio Manager

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 31

<PAGE>

NAME OF LENDER:             LIBERTY FLOATING RATE ADVANTAGE FUND

                            By: Columbia Management Advisors, Inc.
                                (f/k/a Stein Roe & Farnham Incorporated),
                                as Advisor

                                By: /s/ James R. Fellows
                                    --------------------------------------------
                                Name: James R. Fellows
                                Title: Sr. Vice President & Portfolio Manager

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 32

<PAGE>

NAME OF LENDER:             STEIN ROE FLOATING RATE LIMITED LIABILITY COMPANY

                            By: Columbia Management Advisors, Inc.
                                (f/k/a Stein Roe & Farnham Incorporated),
                                as Advisor

                                By: /s/ James R. Fellows
                                    --------------------------------------------
                                Name: James R. Fellows
                                Title: Sr. Vice President & Portfolio Manager

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 33

<PAGE>

NAME OF LENDER:             STEIN ROE & FARNHAM CLO I, LTD.

                            By: Columbia Management Advisors, Inc.
                                (f/k/a Stein Roe & Farnham Incorporated),
                                as Portfolio Manager

                                By: /s/ James R. Fellows
                                    --------------------------------------------
                                Name: James R. Fellows
                                Title: Sr. Vice President & Portfolio Manager

Date Delivered: 7/28/03-*

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 34

<PAGE>

NAME OF LENDER:             AXP VARIABLE PORTFOLIO - HIGH YIELD BOND FUND, a
                            Series of AXP Variable Portfolio Income Series, Inc.
                            (f/k/a AXP Variable Portfolio - Extra Income Fund,
                            a series of AXP Variable Portfolio Income Series,
                            Inc.)

                            By: /s/ Timothy J. Mash
                                ------------------------------------------------
                            Name: Timothy J. Mash
                            Title: Assistant Vice President - AXP Variable
                                   Portfolio Income Series, Inc.

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 35

<PAGE>

NAME OF LENDER:             HIGH YIELD PORTFOLIO, a Series of Income Trust

                            By: /s/ Timothy J. Mash
                                ------------------------------------------------
                            Name: Timothy J. Mash
                            Title: Assistant Vice President - Income Trust

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 36

<PAGE>

NAME OF LENDER:             BANK OF AMERICA, N.A.

                            By: /s/ John W. Woodiel III
                                ------------------------------------------------
                            Name: John W. Woodiel III
                            Title: Managing Director

Date Delivered: 7/25/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 37

<PAGE>

NAME OF LENDER:                    BANKNORTH, N.A.

                                   By:    /s/ Nicolas Caussade
                                        ----------------------------------------
                                   Name:  Nicolas Caussade
                                   Title: Assistant Vice President

Date Delivered: 7/25/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 38

<PAGE>

NAME OF LENDER:                     BANK OF SCOTLAND

                                    By:    /s/ Colin G. Campbell
                                       -----------------------------------------
                                    Name:  Colin G. Campbell
                                    Title: Director

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 39

<PAGE>

NAME OF LENDER:                     BLUE SQUARE FUNDING SERIES 3
                                    Deutsche Bank Trust Co. Americas
                                    FKA Bankers Trust Co.

                                    By:    /s/Stephen Hessler
                                       -----------------------------------------
                                    Name:  Stephen Hessler
                                    Title: Vice President

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 40

<PAGE>

NAME OF LENDER:                     BNP PARIBAS

                                    By:    /s/ Gregg Bonardi
                                       -----------------------------------------
                                    Name:  Gregg Bonardi
                                    Title: Director

                                    By:     /s/ Ola Anderssen
                                       -----------------------------------------
                                     Name:  Ola Anderssen
                                     Title: Director

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 41

<PAGE>

NAME OF LENDER:               CALHOUN CBO, LTD.

                              By: American Express Asset Management Group, Inc.,
                                  as Collateral Manager

                              By:    /s/Leanne Stavrakis
                                 ----------------------------------------------
                              Name:  Leanne Stavrakis
                              Title: Director - Operations

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 42

<PAGE>

NAME OF LENDER:               CEDAR CBO, LTD.

                              By: American Express Asset Management Group, Inc.,
                                  as Collateral Manager

                              By:  /s/ Leanne Stavrakis
                                 ----------------------------------------------
                              Name:  Leanne Stavrakis
                              Title: Director - Operations

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 43

<PAGE>

NAME OF LENDER:                CENTURION CDO I, LIMITED

                               By; American Express Asset Management Group, Inc.
                                   as Collateral Manager

                               By:    /s/ Leanne Stavrakis
                                  ----------------------------------------------
                               Name:  Leanne Stavrakis
                               Title: Director - Operations

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 44

<PAGE>

NAME OF LENDER:                CENTURION CDO II, LTD.

                               By; American Express Asset Management Group, Inc.
                                   as Collateral Manager

                               By:    /s/Leanne Stavrakis
                                  ----------------------------------------------
                               Name:  Leanne Stavrakis
                               Title: Director - Operations

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 45

<PAGE>

NAME OF LENDER:                CENTURION CDO III, LTD.

                               By; American Express Asset Management Group, Inc.
                                    as Collateral Manager

                               By:    /s/ Leanne Stavrakis
                                  ----------------------------------------------
                               Name:  Leanne Stavrakis
                               Title: Director - Operations

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 46

<PAGE>

NAME OF LENDER:                CENTURION CDO VI, LTD.

                               By; American Express Asset Management Group, Inc.
                                   as Collateral Manager

                               By:    /s/ Leanne Stavrakis
                                  ----------------------------------------------
                               Name:  Leanne Stavrakis
                               Title: Director - Operations

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 47

<PAGE>

NAME OF LENDER:                CENTENNIAL CBO, LTD.

                               By; American Express Asset Management Group, Inc.
                                   as Collateral Manager

                               By:    /s/ Leanne Stavrakis
                                  ----------------------------------------------
                               Name:  Leanne Stavrakis
                               Title: Director - Operations

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 48

<PAGE>

NAME OF LENDER:                CLARION CBO, LTD.

                               By; American Express Asset Management Group, Inc.
                                   as Collateral Manager

                               By:    /s/Leanne Stavrakis
                                  ----------------------------------------------
                               Name:  Leanne Stavrakis
                               Title: Director - Operations

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 49

<PAGE>

NAME OF LENDER:                ISLES CBO, LTD.

                               By; American Express Asset Management Group, Inc.
                                   as Collateral Manager

                               By:    /s/Leanne Stavrakis
                                  ----------------------------------------------
                               Name:  Leanne Stavrakis
                               Title: Director - Operations

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 50

<PAGE>

NAME OF LENDER:                SEQUILS - CENTURION V, LTD.

                               By; American Express Asset Management Group, Inc.
                                   as Collateral Manager

                               By:    /s/ Leanne Stavrakis
                                  ----------------------------------------------
                               Name:  Leanne Stavrakis
                               Title: Director - Operations

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 51

<PAGE>

NAME OF LENDER:                CANPARNTERS INVESTMENS IV LLC

                               By: Canyon Capital Advisors LLC

                               By:    /s/ R.C.B. Evensen
                                  ----------------------------------------------
                               Name:  R.C.B. Evensen
                               Title: Managing Partner

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 52

<PAGE>

NAME OF LENDER:                CAPTIVA II FINANCE LTD.

                               By:    /s/ David Dyer
                                  ----------------------------------------------
                               Name:  David Dyer
                               Title: Director

Date Delivered: 7/25/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 53

<PAGE>

NAME OF LENDER:                CITIZENS BANK OF MASSACHUSETTS

                               By:    /s/ Matthew E. Murphy
                                  ----------------------------------------------
                               Name:  Matthew E. Murphy
                               Title: Vice President

Date Delivered: 7/27/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 54

<PAGE>

NAME OF LENDER:                COBANK, ACB

                               By:    /s/ John W. Donner
                                  ----------------------------------------------
                               Name:  John W. Donner
                               Title: Vice President

Date Delivered:7/25/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 55

<PAGE>

NAME OF LENDER:                COLUMBUS LOAN FUNDING LTD.

                               By: Travelers Asset Management International
                                   Company LLC

                               By:    /s/ William M. Gardner
                                  ----------------------------------------------
                               Name:  William M. Gardner
                               Title: Investment Officer

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 56

<PAGE>

NAME OF LENDER:                COOPERATIEVE CENTRALE RAIFFEISEN-
                               BOERENLEEN BANK
                               B.A., "RABOBANK NEDERLAND",
                               NEW YORK BRANCH

                               By:    /s/ Michael R. Phelan
                                  ----------------------------------------------
                               Name:  Michael R. Phelan
                               Title: Executive Director

                               By:    /s/ Edward J. Peyser
                                  ----------------------------------------------
                               Name:  Edward J. Peyser
                               Title: Managing Director

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 57

<PAGE>

NAME OF LENDER:                DB STRUCTURED PRODUCTS, INC.

                               By:  GoldenTree Asset Management, LP

                               By:    /s/ Frederick S. Haddad
                                  ----------------------------------------------
                               Name:  Frederick S. Haddad
                               Title: Portfolio Manager

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 58

<PAGE>

NAME OF LENDER:                GOLDENTREE LOAN OPPORTUNITIES I, LIMITED

                               By:      GoldenTree Asset Management, LP

                               By:    /s/ Frederick S. Haddad
                                  ----------------------------------------------
                               Name:  Frederick S. Haddad
                               Title: Portfolio Manager

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 59

<PAGE>

NAME OF LENDER:                GOLDENTREE HIGH YIELD OPPORTUNITIES I, L.P.

                               By:  GoldenTree Asset Management, LP

                               By:    /s/ Frederick S. Haddad
                                  ----------------------------------------------
                               Name:  Frederick S. Haddad
                               Title: Portfolio Manager

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 60

<PAGE>

NAME OF LENDER:                GOLDENTREE HIGH YIELD VALUE MASTER FUND, LP

                               By:    GoldenTree Asset Management, LP

                               By:    /s/ Frederick S. Haddad
                                  ----------------------------------------------
                               Name:  Frederick S. Haddad
                               Title: Portfolio Manager

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 61

<PAGE>

NAME OF LENDER:                GOLDENTREE HIGH YIELD VALUE MASTER FUND,
                               LTD.

                               By:    GoldenTree Asset Management, LP

                               By:    /s/ Frederick S. Haddad
                                  ----------------------------------------------
                               Name:  Frederick S. Haddad
                               Title: Portfolio Manager

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 62

<PAGE>

NAME OF LENDER:                GOLDENTREE HIGH YIELD MASTER FUND II, LTD.

                               By:    GoldenTree Asset Management, LP

                               By:    /s/ Frederick S. Haddad
                                  ----------------------------------------------
                               Name:  Frederick S. Haddad
                               Title: Portfolio Manager

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 63

<PAGE>

NAME OF LENDER:                DUKE UNIVERSITY LONG TERM POOL

                               By:    GoldenTree Asset Management, LP

                               By:    /s/ Frederick S. Haddad
                                  ----------------------------------------------
                               Name:  Frederick S. Haddad
                               Title: Portfolio Manager

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 64

<PAGE>

NAME OF LENDER:                DELPHI FINANCIAL GROUP

                               By:    GoldenTree Asset Management, LP

                               By:    /s/ Frederick S. Haddad
                                  ----------------------------------------------
                               Name:  Frederick S. Haddad
                               Title: Portfolio Manager

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 65

<PAGE>

NAME OF LENDER:                DEXIA CREDIT LOCAL

                               By:    /s/ Ernest Perez
                                  ----------------------------------------------
                               Name:  Ernest Perez
                               Title: Vice President

Date Delivered: 7/29/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 66

<PAGE>

NAME OF LENDER:                THE EMPLOYEES RETIREMENT PLAN OF
                               DUKE UNIVERSITY

                               By:    GoldenTree Asset Management, LP

                               By:    /s/ Frederick S. Haddad
                                  ----------------------------------------------
                               Name:  Frederick S. Haddad
                               Title: Portfolio Manager

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 67

<PAGE>

NAME OF LENDER:                SAFETY NATIONAL CASUALTY CORPORATION

                               By:    GoldenTree Asset Management, LP

                               By:    /s/ Frederick S. Haddad
                                  ----------------------------------------------
                               Name:  Frederick S. Haddad
                               Title: Portfolio Manager

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 68

<PAGE>

NAME OF LENDER:                WF FOUNDATION

                               By:    GoldenTree Asset Management, LP

                               By:    /s/ Frederick S. Haddad
                                  ----------------------------------------------
                               Name:  Frederick S. Haddad
                               Title: Portfolio Manager

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 69

<PAGE>

NAME OF LENDER:                ELC (CAYMAN) LTD. CDO SERIES 1999-I

                               By:    David L. Babson & Company, Inc., as
                                      Collateral Manager

                               By:    /s/ David P. Wells, CFA
                                  ----------------------------------------------
                               Name:  David P. Wells
                               Title: Managing Director

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 70

<PAGE>

NAME OF LENDER:                ELC (CAYMAN) LTD. 2000-I

                               By:    David L. Babson & Company, Inc., as
                                      Collateral Manager

                               By:    /s/ David P. Wells, CFA
                                  ----------------------------------------------
                               Name:  David P. Wells
                               Title: Managing Director

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 71

<PAGE>

NAME OF LENDER:                ELC (CAYMAN) LTD. CDO SERIES 1999-III

                               By:      David L. Babson & Company, Inc., as
                                        Collateral Manager

                               By:    /s/ David P. Wells, CFA
                                  ----------------------------------------------
                               Name:  David P. Wells
                               Title: Managing Director

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 72

<PAGE>

NAME OF LENDER:                TRYON CLO LTD. 2000-1

                               By:    David L. Babson & Company, Inc., as
                                      Collateral Manager

                               By:    /s/ David P. Wells, CFA
                                  ----------------------------------------------
                               Name:  David P. Wells
                               Title: Managing Director

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 73

<PAGE>

NAME OF LENDER:                ELF FUNDING TRUST I

                               By:    Highland Capital Management, L.P., as
                                      Collateral Manager

                               By:    /s/ Todd Travers
                                  ----------------------------------------------
                               Name:  Todd Travers
                               Title: Senior Portfolio Manager
                                      Highland Capital Management, L.P.

Date Delivered:   7/27/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 74

<PAGE>

NAME OF LENDER:                HIGHLAND LOAN FUNDING V

                               By:    Highland Capital Management, L.P., as
                                      Collateral Manager

                               By:    /s/ Todd Travers
                                  ----------------------------------------------
                               Name:  Todd Travers
                               Title: Senior Portfolio Manager
                                      Highland Capital Management, L.P.

Date Delivered: 7/25/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 75

<PAGE>

NAME OF LENDER:                HIGHLAND LEGACY LIMITED

                               By:    Highland Capital Management, L.P., as
                                      Collateral Manager

                               By:    /s/ Todd Travers
                                  ----------------------------------------------
                               Name:  Todd Travers
                               Title: Senior Portfolio Manager
                                      Highland Capital Management, L.P.

Date Delivered: 7/25/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 76

<PAGE>

NAME OF LENDER:                PAMCO CAYMAN, LTD.

                               By:      Highland Capital Management, L.P., as
                                        Collateral Manager

                               By:    /s/ Todd Travers
                                  ----------------------------------------------
                               Name:  Todd Travers
                               Title: Senior Portfolio Manager
                                      Highland Capital Management, L.P.

Date Delivered: 7/25/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 77

<PAGE>

NAME OF LENDER:                EMERALD ORCHARD LIMITED

                               By:    /s/ Stacey Malek
                                  ----------------------------------------------
                               Name:  Stacey Malek
                               Title: Attorney in Fact

Date Delivered: 7/25/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 78

<PAGE>

NAME OF LENDER:                FLAGSHIP CLO 2001 - 1

                               By:    Flagship Capital Management, Inc.

                               By:    /s/ Eric S. Meyer
                                  ----------------------------------------------
                               Name   Eric S. Meyer
                               Title: Director

Date Delivered: 7/25/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 79

<PAGE>

NAME OF LENDER:                FIDELITY ADVISOR SERIES II: FIDELITY ADVISOR
                               FLOATING RATE HIGH INCOME FUND (161)

                               By:    /s/ Mark Osterheld
                                  ----------------------------------------------
                               Name   Mark Osterheld
                               Title: Assistant Treasurer

Date Delivered:   7/25/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 80

<PAGE>

NAME OF LENDER:                FLEET NATIONAL BANK

                               By:    /s/ Matthew M. Speh
                                  ----------------------------------------------
                               Name   Matthew M. Speh
                               Title: Authorized Officer

Date Delivered: 7/25/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 81

<PAGE>

NAME OF LENDER:                GALAXY CLO 1999-1, LTD.

                               By:    /s/ W. Jeffrey Baxter
                                  ----------------------------------------------
                               Name   W. Jeffery Baxter
                               Title: Vice President

Date Delivered: 7/25/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 82

<PAGE>

NAME OF LENDER:                SUNAMERICA LIFE INSURANCE COMPANY

                               By:    /s/ W. Jeffrey Baxter
                                  ----------------------------------------------
                               Name   W. Jeffery Baxter
                               Title: Vice President

Date Delivered: 7/25/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 83

<PAGE>

NAME OF LENDER:                GENERAL ELECTRIC CAPITAL CORPORATION

                               By:    /s/ Molly Fergurson
                                  ----------------------------------------------
                               Name   Molly Fergurson
                               Title: Manager - Operations

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 84

<PAGE>

NAME OF LENDER:                HARBOUR TOWN FUNDING TRUST

                               By:    /s/ Diana M. Himes
                                  ----------------------------------------------
                               Name:  Diana M. Himes
                               Title: Authorized Agent

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 85

<PAGE>

NAME OF LENDER:                MUIRFIELD TRADING LLC

                               By:    /s/ Diana M. Himes
                                  ----------------------------------------------
                               Name:  Diana M. Himes
                               Title: Assistant Vice President

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 86

<PAGE>

NAME OF LENDER:                     OLYMPIC FUNDING TRUST, SERIES 1999-1

                                    By:    /s/ Diana M. Himes
                                       -----------------------------------------
                                    Name:  Diana M. Himes
                                    Title: Authorized Agent

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 87

<PAGE>

NAME OF LENDER:                     PPM SPYGLASS FUNDING TRUST

                                    By:    /s/ Diana M. Himes
                                       -----------------------------------------
                                    Name:  Diana M. Himes
                                    Title: Authorized Agent

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 88

<PAGE>

NAME OF LENDER:                     SRF TRADING, INC.

                                    By:    /s/ Diana M. Himes
                                       -----------------------------------------
                                    Name:  Diana M. Himes
                                    Title: Assistant Vice President

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 89

<PAGE>

NAME OF LENDER:                     SRF 2000, INC.

                                    By:    /s/ Diana M. Himes
                                       -----------------------------------------
                                    Name:  Diana M. Himes
                                    Title: Assistant Vice President

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 90

<PAGE>

NAME OF LENDER:                     HARBOURVIEW CDO II, LTD.

                                    By:    /s/ Bill Campbell
                                       -----------------------------------------
                                    Name:  Bill Campbell
                                    Title: Manager

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 91

<PAGE>

NAME OF LENDER:                     HAMILTON CDO, LTD.

                                    By:    Stanfield Capital Partners LLC, as
                                           its Collateral Manager

                                    By:    /s/ Christopher A. Bondy
                                       -----------------------------------------
                                    Name:  Christopher A. Bondy
                                    Title: Partner

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 92

<PAGE>

NAME OF LENDER:                     STANFIELD CLO LTD.

                                    By:    Stanfield Capital Partners LLC, as
                                           its Collateral Manager

                                    By:    /s/ Christopher A. Bondy
                                       -----------------------------------------
                                    Name:  Christopher A. Bondy
                                    Title: Partner

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 93

<PAGE>

NAME OF LENDER:                     STANFIELD ARBITRAGE CDO, LTD.

                                    By:    Stanfield Capital Partners LLC, as
                                           its Collateral Manager

                                    By:    /s/ Christopher A. Bondy
                                       -----------------------------------------
                                    Name:  Christopher A. Bondy
                                    Title: Partner

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 94

<PAGE>

NAME OF LENDER:                     STANFIELD/RMF TRANSATLANTIC CDO LTD.

                                    By:    Stanfield Capital Partners LLC, as
                                           its Collateral Manager

                                    By:    /s/ Christopher A. Bondy
                                       -----------------------------------------
                                    Name:  Christopher A. Bondy
                                    Title: Partner

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 95

<PAGE>

NAME OF LENDER:                     SUNAMERICA SENIOR FLOATING RATE FUND INC.

                                    By:    Stanfield Capital Partners LLC, as
                                           Subadvisor

                                    By:    /s/ Christopher A. Bondy
                                       -----------------------------------------
                                    Name:  Christopher A. Bondy
                                    Title: Partner

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 96

<PAGE>

NAME OF LENDER:                     STANFIELD CARRERA CLO, LTD.

                                    By:    Stanfield Capital Partners LLC, as
                                           its Asset Manager

                                    By:    /s/ Christopher A. Bondy
                                       -----------------------------------------
                                    Name:  Christopher A. Bondy
                                    Title: Partner

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 97

<PAGE>

NAME OF LENDER:                     STANFIELD QUATTRO CLO, LTD.

                                    By:    Stanfield Capital Partners LLC, as
                                           its Collateral Manager

                                    By:    /s/ Christopher A. Bondy
                                       -----------------------------------------
                                    Name:  Christopher A. Bondy
                                    Title: Partner

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 98

<PAGE>

NAME OF LENDER:                     WINDSOR LOAN FUNDING, LIMITED

                                    By:    Stanfield Capital Partners LLC, as
                                           its Investment Manager

                                    By:    /s/ Christopher A. Bondy
                                       -----------------------------------------
                                    Name:  Christopher A. Bondy
                                    Title: Partner

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                               Signature Page 99

<PAGE>

NAME OF LENDER:                     AXIS/SRS LIMITED

                                    By:    Stanfield Capital Partners LLC, as
                                           its Sub-Manager

                                    By:    /s/ Christopher Pucillo
                                       -----------------------------------------
                                    Name:  Christopher Pucillo
                                    Title: Partner

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                              Signature Page 100

<PAGE>

NAME OF LENDER:                     SRS STRATEGIES (CAYMAN) LP

                                    By:    Stanfield Capital Partners LLC, as
                                           its Investment Manager

                                    By:    /s/ Christopher Pucillo
                                       -----------------------------------------
                                    Name:  Christopher Pucillo
                                    Title: Partner

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                              Signature Page 101

<PAGE>

NAME OF LENDER:                     IBM CREDIT LLC

                                    By:    /s/ Steven A. Flanagan
                                       -----------------------------------------
                                    Name:  Steven A. Flanagan
                                    Title: Manager - Global Special Handling

Date Delivered: 7/25/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                              Signature Page 102

<PAGE>

NAME OF LENDER:                     ING PRIME RATE TRUST

                                    By:    ING Investments, LLC, as its
                                           Investment Manager

                                    By:    /s/ Jeffrey A. Bakalar
                                       -----------------------------------------
                                    Name:  Jeffrey A. Bakalar
                                    Title: Senior Vice President

                                    PILGRIM CLO 1999-1 LTD.

                                    By:    ING Investments, LLC, as its
                                           Investment Manager

                                    By:    /s/ Jeffrey A. Bakalar
                                       -----------------------------------------
                                    Name:  Jeffrey A. Bakalar
                                    Title: Senior Vice President

         `                          ML CLO XV PILGRIM AMERICA (CAYMAN) LTD.

                                    By:    ING Investments, LLC, as its
                                           Investment Manager

                                    By:    /s/ Jeffrey A. Bakalar
                                       -----------------------------------------
                                    Name:  Jeffrey A. Bakalar
                                    Title: Senior Vice President

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                              Signature Page 103

<PAGE>

NAME OF LENDER:                     INDOSUEZ CAPITAL FUNDING IIA, LIMITED

                                    By:    Indosuez Capital as Portfolio Advisor

                                    By:    /s/ Charles Kobayashi
                                       -----------------------------------------
                                    Name:  Charles Kobayashi
                                    Title: Principal and Portfolio Manager

Date Delivered: 7/24/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                              Signature Page 104

<PAGE>

NAME OF LENDER:                     KEY COPORATE CAPITAL, INC.

                                    By:    /s/ Michael V. Panichi
                                       -----------------------------------------
                                    Name:  Michael V. Panichi
                                    Title: Vice President

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                              Signature Page 105

<PAGE>

NAME OF LENDER:                     KZH CRESCENT-2 LLC

                                    By:    /s/ Dorian Herrera
                                       -----------------------------------------
                                    Name:  Dorian Herrera
                                    Title: Authorized Agent

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                              Signature Page 106

<PAGE>

NAME OF LENDER:                     KZH CYPRESSTREE-1 LLC

                                    By:    /s/ Dorian Herrera
                                       -----------------------------------------
                                    Name:  Dorian Herrera
                                    Title: Authorized Agent

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                              Signature Page 107

<PAGE>

NAME OF LENDER:                     KZH ING-2 LLC

                                    By:    /s/ Dorian Herrera
                                       -----------------------------------------
                                    Name:  Dorian Herrera
                                    Title: Authorized Agent

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                              Signature Page 108

<PAGE>

NAME OF LENDER:                     KZH HIGHLAND-2 LLC

                                    By:    /s/ Dorian Herrera
                                       -----------------------------------------
                                    Name:  Dorian Herrera
                                    Title: Authorized Agent

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                              Signature Page 109

<PAGE>

NAME OF LENDER:                     KZH RIVERSIDE LLC

                                    By:    /s/ Dorian Herrera
                                       -----------------------------------------
                                    Name:  Dorian Herrera
                                    Title: Authorized Agent

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                              Signature Page 110

<PAGE>

NAME OF LENDER:                     KZH SOLEIL LLC

                                    By:    /s/ Dorian Herrera
                                       -----------------------------------------
                                    Name:  Dorian Herrera
                                    Title: Authorized Agent

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                              Signature Page 111

<PAGE>

NAME OF LENDER:                     KZH SOLEIL-2 LLC

                                    By:    /s/ Dorian Herrera
                                       -----------------------------------------
                                    Name:  Dorian Herrera
                                    Title: Authorized Agent

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                              Signature Page 112

<PAGE>

NAME OF LENDER:                     KZH STERLING LLC

                                    By:    /s/ Dorian Herrera
                                       -----------------------------------------
                                    Name:  Dorian Herrera
                                    Title: Authorized Agent

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                              Signature Page 113

<PAGE>

NAME OF LENDER:                     LANDMARK CDO LTD.

                                    By:    Aladdin Asset Management, as Manager

                                    By:    /s/ Gilles Marchand
                                       -----------------------------------------
                                    Name:  Gilles Marchand
                                    Title: Senior Portfolio Manager

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                              Signature Page 114

<PAGE>

NAME OF LENDER:                     SYNDICATED LOAN FUNDING TRUST

                                    By:    /s/ G. Robert Berzins
                                       -----------------------------------------
                                    Name:  G. Robert Berzins
                                    Title: Vice President

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                              Signature Page 115

<PAGE>

NAME OF LENDER:                     MANUFACTURERS AND TRADERS TRUST
                                    COMPANY, formerly known as Allfirst Bank

                                    By:    /s/ Leon W. Wynne, Jr.
                                       -----------------------------------------
                                    Name:  Leon W. Wynne, Jr.
                                    Title: Vice President

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                              Signature Page 116

<PAGE>

NAME OF LENDER:                     METROPOLITAN LIFE INSURANCE COMPANY

                                    By:    /s/ James R. Dingler
                                       -----------------------------------------
                                    Name:  James R. Dingler
                                    Title: Director

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                              Signature Page 117

<PAGE>

NAME OF LENDER:                     MIZUHO CORPORATE BANK, LTD.

                                    By:    /s/ Mark Gronich
                                       -----------------------------------------
                                    Name:  Mark Gronich
                                    Title: Vice President

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                              Signature Page 118

<PAGE>

NAME OF LENDER:                     MORGAN STANLEY PRIME INCOME TRUST

                                    By:    /s/ Sheila A. Finnerty
                                       -----------------------------------------
                                    Name:  Sheila A. Finnerty
                                    Title: Executive Director

Date Delivered: _______________

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                              Signature Page 119

<PAGE>

NAME OF LENDER:                     NATIONAL CITY BANK

                                    By:    /s/ Jon W. Peterson
                                       -----------------------------------------
                                    Name:  Jon W. Peterson
                                    Title: Senior Vice President

Date Delivered: 7/25/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                              Signature Page 120

<PAGE>

NAME OF LENDER:                     NEW ALLIANCE GLOBAL CDO, LIMITED

                                    By:    Alliance Capital Management L.P., as
                                           Sub-advisor

                                    By:    Alliance Capital Management
                                           Corporation, as General Partner

                                    By:    /s/ Nantha Supprah
                                       -----------------------------------------
                                    Name:  Nantha Supprah
                                    Title: Assistant Vice President

Date Delivered: 7/25/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                              Signature Page 121

<PAGE>

NAME OF LENDER:                     NORDEA BANK FINLAND PLC

                                    By:    /s/ Henrik M. Steffensen
                                       -----------------------------------------
                                    Name:  Henrik M. Steffensen
                                    Title: First Vice President

                                    By:    /s/ Joseph A. Ciccolini
                                       -----------------------------------------
                                    Name:  Joseph A. Ciccoloni
                                    Title: Vice President

Date Delivered: 7/24/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                              Signature Page 122

<PAGE>

NAME OF LENDER:                     PUTNAM CBO I, LIMITED

                                    By:    /s/ Beta Mazor
                                       -----------------------------------------
                                    Name:  Beta Mazor
                                    Title: Vice President

Date Delivered: 7/23/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                              Signature Page 123

<PAGE>

NAME OF LENDER:                     REGIMENT CAPITAL, LTD

                                    By:    Regiment Capital Management, LLC,
                                           as its Investment Advisor

                                    By:    Regiment Capital Advisors, LLC,
                                           its Manager and pursuant to delegated
                                           authority

                                    By:    /s/ Timothy S. Peterson
                                       -----------------------------------------
                                    Name:  Timothy S. Peterson
                                    Title: President

Date Delivered: 7/24/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                              Signature Page 124

<PAGE>

NAME OF LENDER:                     Sankaty Advisors, LLC, as Collateral
                                    Manager for CASTLE HILL II - INGOTS, LTD.,
                                    as Term Lender

                                    By:    /s/ Diane J. Exter
                                       -----------------------------------------
                                    Name:  Diane J. Exter
                                    Title: Managing Director - Portfolio Manager

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                              Signature Page 125

<PAGE>

NAME OF LENDER:                     Sankaty Advisors, LLC, as Collateral
                                    Manager for GREAT POINT CBO 1998-1 LTD.,
                                    as Term Lender

                                    By:    /s/ Diane J. Exter
                                       -----------------------------------------
                                    Name:  Diane J. Exter
                                    Title: Managing Director - Portfolio Manager

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                              Signature Page 126

<PAGE>

NAME OF LENDER:                     Sankaty Advisors, LLC, as Collateral
                                    Manager for GREAT POINT CLO 1999-1 LTD.,
                                    as Term Lender

                                    By:    /s/ Diane J. Exter
                                       -----------------------------------------
                                    Name:  Diane J. Exter
                                    Title: Managing Director - Portfolio Manager

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                              Signature Page 127

<PAGE>

NAME OF LENDER:                     Sankaty Advisors, LLC, as Collateral
                                    Manager for RACE POINT CLO, LIMITED,
                                    as Term Lender

                                    By:    /s/ Diane J. Exter
                                       -----------------------------------------
                                    Name:  Diane J. Exter
                                    Title: Managing Director - Portfolio Manager

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                              Signature Page 128

<PAGE>

NAME OF LENDER:                     Sankaty Advisors, LLC, as Collateral
                                    Manager for RACE POINT II CLO, LIMITED,
                                    as Term Lender

                                    By:    /s/ Diane J. Exter
                                       -----------------------------------------
                                    Name:  Diane J. Exter
                                    Title: Managing Director - Portfolio Manager

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                              Signature Page 129

<PAGE>

NAME OF LENDER:                     SANKATY HIGH YIELD PARTNERS III, L.P.

                                    By:    /s/ Diane J. Exter
                                       -----------------------------------------
                                    Name:  Diane J. Exter
                                    Title: Managing Director - Portfolio Manager

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                              Signature Page 130

<PAGE>

NAME OF LENDER:                     SEQUILS-CUMBERLAND I, LTD.

                                    By:    Deerfield Capital Management LLC, as
                                           its Collateral Manager

                                    By:    /s/ Mark E. Wittnebel
                                       -----------------------------------------
                                    Name:  Mark E. Wittnebel
                                    Title: Sr. Vice President

Date Delivered: 7/24/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                              Signature Page 131

<PAGE>

NAME OF LENDER:                     ROSEMONT CLO, LTD.

                                    By:    Deerfield Capital Management LLC, as
                                           its Collateral Manager

                                    By:    /s/ Mark E. Wittnebel
                                       -----------------------------------------
                                    Name:  Mark E. Wittnebel
                                    Title: Sr. Vice President

Date Delivered: 7/24/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                              Signature Page 132

<PAGE>

NAME OF LENDER:                     BRYN MAWR CLO, LTD.

                                    By:    Deerfield Capital Management LLC,
                                           as its Collateral Manager

                                    By:    /s/ Mark E. Wittnebel
                                       -----------------------------------------
                                    Name:  Mark E. Wittnebel
                                    Title: Sr. Vice President

Date Delivered: 7/24/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                              Signature Page 133

<PAGE>

NAME OF LENDER:                     SEQUILS IV, LTD.

                                    By:    TCW Advisors, Inc., as its Collateral
                                           Manager

                                    By:    /s/ Richard F. Kurth
                                       -----------------------------------------
                                    Name:  Richard F. Kurth
                                    Title: Senior Vice President

                                    By:    /s/ Jonathan R. Insull
                                       -----------------------------------------
                                    Name:  Jonathan R. Insull
                                    Title: Managing Director

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                              Signature Page 134

<PAGE>

NAME OF LENDER:                     SUNTRUST BANK

                                    By:    /s/ William C. Washburn, Jr.
                                       -----------------------------------------
                                    Name:  William C. Washburn, Jr.
                                    Title: Vice President

Date Delivered: 7/24/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                              Signature Page 135

<PAGE>

NAME OF LENDER:                     THE CIT GROUP/EQUIPMENT FINANCING, INC.

                                    By:    /s/ Michael V. Monahan
                                       -----------------------------------------
                                    Name:  Michael V. Monahan
                                    Title: Vice President

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                              Signature Page 136

<PAGE>

NAME OF LENDER:                     T. Rowe Price Associates, Inc., as
                                    Collateral Manager
                                    For INNER HARBOR CBO 2001-1 LTD.

                                    By:    /s/ Darrell N. Braman
                                       -----------------------------------------
                                    Name:  Darrell N. Braman
                                    Title: Vice President

Date Delivered: 7/25/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                              Signature Page 137

<PAGE>

NAME OF LENDER:                     THE BANK OF NOVA SCOTIA

                                    By:    /s/  John W. Campbell
                                       -----------------------------------------
                                    Name:  John W. Campbell
                                    Title: Managing Director

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                              Signature Page 138

<PAGE>

NAME OF LENDER:                     UNION BANK OF CALIFORNIA, N.A.

                                    By:    /s/ Craig Cappai
                                       -----------------------------------------
                                    Name:  Craig Cappai
                                    Title: Vice President

Date Delivered: 7/24/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                              Signature Page 139

<PAGE>

NAME OF LENDER:                     VAN KAMPEN SENIOR LOAN FUND

                                    By:    Van Kampen Investment Advisory Group

                                    By:    /s/ Christina Jamieson
                                       -----------------------------------------
                                    Name:  Christina Jamieson
                                    Title: Vice President

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                              Signature Page 140

<PAGE>

NAME OF LENDER:                     VENTURE CDO 2002, LIMITED

                                    By its investment advisor, Barclays Capital
                                    Asset Management Limited,

                                    By its sub-advisor, Barclays Bank PLC,
                                    New York Branch

                                    By:    /s/ Michael G. Regan
                                       -----------------------------------------
                                    Name:  Michael G. Regan
                                    Title: Director

Date Delivered: 7/28/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                              Signature Page 141

<PAGE>

NAME OF LENDER:                     WACHOVIA BANK, NATIONAL ASSOCIATION

                                    By:    /s/ James Barwis
                                       -----------------------------------------
                                    Name:  James Barwis
                                    Title: Director

Date Delivered: 7/24/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                              Signature Page 142

<PAGE>

NAME OF LENDER:                     WEBSTER BANK

                                    By:    /s/ Robert E. Meditz
                                       -----------------------------------------
                                    Name:  Robert E. Meditz
                                    Title: Vice President

Date Delivered: 7/25/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                              Signature Page 143

<PAGE>

NAME OF LENDER:                     WELLS FARGO BANK, NATIONAL ASSOCIATION

                                    By:    /s/ Ellen Trach
                                       -----------------------------------------
                                    Name:  Ellen Trach
                                    Title: Vice President

Date Delivered: 7/23/03

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                              Signature Page 144

<PAGE>

         IN WITNESS WHEREOF, the Guarantors have executed this Amendment or
caused it to be executed by their duly authorized officers solely with respect
to the acknowledgments and agreements set forth in Section 22 hereof, all as of
the day and year first above written.

GUARANTORS:                         ON BEHALF OF EACH ENTITY NAMED ON THE
                                    ATTACHED SCHEDULE 1 (EXCLUDING WIRELESS
                                    ALLIANCE, L.L.C.)

                                    By:    /s/ Richard P. Ekstrand
                                       -----------------------------------------
                                    Name:  Richard P. Ekstrand
                                    Title: President and CEO

                                                      RURAL CELLULAR CORPORATION
                                                             FOURTH AMENDMENT TO
                                       THIRD AMENDED AND RESTATED LOAN AGREEMENT
                                                              Signature Page 145

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