Auburn University

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Auburn University

• November 13, 2006

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Company Overview
Alltel operates Americas largest wireless
network, which delivers voice and advanced data
services nationwide to more than 11 million
customers. Headquartered in Little Rock,
Arkansas, Alltel is a Forbes 500 company with
annual revenues of 8 billion.
8

Billion in Annual Revenue 251 in 2006 Fortune
500 365 in 2005 Forbes 500
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Alltel A Closer Look at Operations
Fargo
Bismarck
Butte
Pierre
Rochester
Omaha
Cleveland
Elko
Lincoln
Covered U.S. POPs 78M Network Coverage 1.5M Sq.
Mi. Spectrum Position Avg. 30MHZ
(Primarily in 850MHz Band)
Wichita
Cedar City
Pueblo
Richmond
Springfield
Albuquerque
Oklahoma City
Charlotte
Little Rock
Amarillo
Phoenix
Jackson
Charleston
Jacksonville
New Orleans
Tampa

• Superior Growth Profile and Industry Leading
  Margins
• Significant Presence in Tier 2/3 Markets
• Leading Independent Roaming Partner to the 4
  National Carriers

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ALLTEL Historical Highlights
ALLTEL Completes Acquisition CenturyTel Wireless
ALLTEL Completes Acquisition of MobileTel
Wireless Properties
Allied Telephone Company Incorporated
Allied and Mid-Continent Merger to form ALLTEL
1954
1960
1983
1998
2000
2002
2003
2004
ALLTEL Completes Acquisition of CellularXLs
Wireless Properties.
Mid-Continent Telephone Corporation Incorporated
ALLTEL and 360 Communications Merge
ALLTEL Announces Property Swap and Roaming
Agreement with Verizon ALLTEL Acquires Radiofone
ALLTEL, Cingular Wireless Enter into Agreement on
Sale of Certain Cingular Assets
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2005/2006 Strategic Initiatives
1Q05
2Q05
3Q05
4Q05
2006 YTD

• Completed Acquisition of Public Service Cellular

• Completed Cingular Asset/ Property Swap

• Closed Merger with Western Wireless
• Sold Georgia and Ghana for 50M

• Sold Irish Assets for 500M
• Expect to Close Property Swap With US Cellular
  for Required Divestitures
• Announce agreement to purchase Midwest Wireless
• Announce Wireline Spin and Merger With VALOR

• Bought out wireless partnerships in North and
  South Carolina
• New brand name announced for spinoff of wireline
  business Windstream Communications
• Completed sale of Austrian property
• Completed purchase of First Cellular of Southern
  Illinois

Continue to Grow Domestic Wireless Retail Business
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Continue to Strengthen and Evolve Brand
Relevant Brand Promises
Redesigned Retail Stores with more customer
friendly layout
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Corporate Citizenship is Very Important
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Sports Sponsorships and Other Marketing Programs
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Alltels Management Principles
Our Purpose
Responsible stewardship of our shareholders
investments.
Our Strategy
A disciplined financial approach and operational
focus.
Our Results
Growing cash flows and some of the leading
margins in the communications industry.
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Alltels Margins
Wireless OIBDA Margins (For the Six-months ended
June 30, 2006)
(1)
(2)
(1) Pro-forma for the spin-off of the wireline
business (2) For the three-months ended March 31,
2006
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Changing Face of Wireless Communications
Pre-Consolidation
Post-Consolidation
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Wireless Competitors - 2Q06
Rank
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Awards and Accolades
Best Managed Telecom Company in America
1 in First Call Resolution
Ranked in Training Magazines Top 100 Training
Organizations in America for the fifth straight
year
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Alltels Functional Work Groups
Human Resources - Staffing, Recruiting,
Compensation, Training
Customer Service - Call Center Support, Financial
Services
Engineering - Network Build and Maintenance,
Switching and Transport
Marketing - Sales and Distribution, Advertising,
Pricing and Promotion
Information Technology - Billing, System Support
and Development
Procurement - Supply Chain Management,
Transportation Logistics
Finance Accounting - Accounting, Internal
Audit, Tax, Planning
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Marketing Work Groups
Customer Strategies - Responsible for development
of strategic marketing programs to attract new
customers to Alltel and reduce churn of current
customers. Sub-groups within strategy include
Strategic Pricing, Marketing Research and
Analytics, and Campaign Management.
Product Marketing - Responsible for new product
development and launch. Also responsible for
developing and executing marketing strategies to
stimulate adoption and revenue throughout the
product lifecycle.
Marketing Communications - Responsible for
developing all brand communications and managing
the media communications and events strategy and
schedule. Stewards of the Alltel brand, this
group ensures that all Alltel messages reflect
our core belief in treating customers with
fairness and respect.
Channel Support - Responsible for managing
Alltels direct and indirect sales and
distribution channels, providing strategic
direction and sales support. Channel Support
develops Alltels sales compensation plans to
reinforce total company objectives.
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Questions?
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Alltel MBA Career Opportunities
We are looking for MBA candidates who are proven
leaders to join Alltel.
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Accelerated Marketing Program
The Accelerated Marketing Program is designed to
give newly hired MBA graduates an intense
cross-functional training experience in which to
learn the fundamentals of our business to prepare
for a long-term leadership position within
Alltel.

• AMP members will
• Complete a 16 week cross-functional training
  period, with exposure to Pricing/Strategy,
  Marketing Communications, Segmentation, Product
  Development, Product Management, Operations,
  Customer Lifecycle Management, and Finance.
• Respond to a business challenge with a fixed
  budget and objective. Under the mentorship of
  Alltel leadership, the business plan will be
  implemented and the results will be presented to
  top management.

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Summer Internship Program
The Internship Program is designed to give
participants a general introduction to Alltels
business and a high level view of Alltels
marketing departments through assignments in one
of marketings functional areas. Intensive
Interns will participate in a 10 week program,
working on a strategic project assigned by one of
the major marketing functional groups Stipen
ds and housing assistance can be considered.

• Customer Strategies
• Product Marketing
• Marketing Communications
• Channel Support

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Strategic Model Driving Shareholder ReturnsStock
Price Appreciation Dividends Compared to Peers
AT
VZ
S
T
BLS
AT
VZ
S
T
BLS
AT
VZ
S
T
BLS
10 Year 5 Year 1 Year
Alltel 1 1 1 Verizon 4 4 5 Sprint 2 2 4 ATT 5 5 3
BellSouth 3 3 2
(1)
Rank
Note (1) Based on the periods ending 12/31/05.
Source FactSet database and Company reports
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Leading Independent Roaming Partner
Cingular
Verizon
PRO FORMA ALLTEL
PRO FORMA ALLTEL
Cingular
Verizon
Sprint/Nextel
T-Mobile
PRO FORMA ALLTEL
PRO FORMA ALLTEL
Nextel
T- Mobile
Sprint
Note ALLTEL Pro Forma licensed coverage. All
others represent approximate network build out.