Analyst Coverage

Telephone and Data Systems (TDS)   Gabelli & Company, Inc. Sergey Dluzhevskiy   Macquarie Research Philip Cusick   Morgan Stanley Simon Flannery   Raymond James Ric Prentiss   Roe Equity Research Kevin Roe   Stifel, Nicolaus, & Company Christopher C. King   SunTrust Robinson Humphrey Robert Dezego   Value Line Kenneth Nugent

U.S. Cellular (USM)   Citi Mike Rollins Gabelli & Company, Inc. Sergey Dluzhevskiy Macquarie Research Philip Cusick Morgan Stanley Simon Flannery Raymond James Ric Prentiss Roe Equity Research Kevin Roe Stifel, Nicolaus & Company Christopher C. King Value Line Kenneth Nugent Wells Fargo Jennifer Fritzsche

The analysts listed above conduct research on Telephone and Data Systems, Inc. (TDS) and U.S. Cellular Corporation (USM)independent of TDS and USM. Any opinions, estimates, recommendation or forecasts made by these analysts are theirs alone and do not represent the opinions, estimates or forecasts of Telephone and Data Systems, Inc. and U.S. Cellular Corporation or their respective managements.