DBRS Releases Report on ALLTEL Corporation – Holds Teleconference Today at 2:30 p.m. ET

DBRS has today released a report that provides additional information on the November 16, 2007, rating actions that downgraded the ratings of ALLTEL Corporation (ALLTEL or the Company) to B from “A”. DBRS also initiated new ratings for ALLTEL Communications Inc. including an Issuer Rating of BB (low). These rating actions followed the Company’s announcement of the close of the planned sale of the Company to TPG Capital Partners and GS Capital Partners.

DBRS will host a teleconference today, November 19, 2007, at 2:30 p.m. ET to discuss these rating actions. 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): 866-225-6564
International callers (toll free): 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.

For more information on the teleconference, please contact Jane Foster at jfoster@dbrs.com.