CHICAGO, Oct. 15 /PRNewswire/ -- Telephone and Data Systems, Inc. (Amex: TDS) said that it has filed a debt shelf Registration Statement on Form S-3 with the Securities and Exchange Commission to permit TDS to issue, from time to time, up to $1 billion of various senior debt securities.

The proceeds to be received from the sale of debt securities offered by the shelf registration statement may be used to refinance existing debt, fund acquisitions or for other general corporate purposes.

The shelf registration statement does not register the issuance of TDS equity securities or debt convertible into TDS shares.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state.

TDS is a diversified telecommunications corporation founded in 1969. Through its strategic business units, U.S. Cellular and TDS Telecom, TDS operates primarily by providing wireless and local telephone service. TDS builds value for its shareholders by providing excellent communications services in growing, closely related segments of the telecommunications industry. The Company currently employs approximately 9,200 people and serves over 4.2 million customers in 34 states.

For more information about TDS and its subsidiaries, visit the web sites at: TDS: http://www.teldta.com .

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SOURCE Telephone and Data Systems, Inc.
Web site: http: //www.teldta.com
CONTACT: Mark A. Steinkrauss, Vice President, Corporate Relations of Telephone and Data Systems, +1-312-592-5384, mark.steinkrauss@teldta.com