DBRS Hosts Teleconference on ALLTEL Rating Actions Today at 2.30 ET

DBRS will host a teleconference today, Monday November 19, 2007, at 2:30 p.m. ET, to discuss its recent rating actions on ALLTEL Corporation (ALLTEL) and ALLTEL Communications Inc. following the announcement on November 16, 2007 that ALLTEL has closed the planned sale of the Company to TPG Capital Partners and GS Capital Partners.

On Friday November 16, 2007, DBRS downgraded the legacy debt rating of ALLTEL Corporation to B from “A” and assigned an Issuer Rating of BB (low) to ALLTEL Communications Inc., a wholly owned subsidiary of ALLTEL, along with BB (high)/B (high) ratings on the secured/unsecured debt at this level. DBRS has also discontinued its R-1 (low) rating on ALLTEL’s Commercial Paper program. The trends are Stable.

To participate in the teleconference, please dial the appropriate numbers listed below at least 15 minutes before the start of the call, quoting confirmation code 3242990#.

Local callers: 416-641-6137
North American callers (toll free): (1) 866-225-6564
International callers (toll free): (1) 800-4222-8835

A replay of the teleconference will be available for one week and can be accessed in North America by dialing 1-800-408-3053 or internationally by dialing +1-416-695-5800, quoting confirmation code 3242990# for both.