Winning for Tomorrow
We have built U.S. Cellular into a major brand in every market we serve. Aggressive advertising, competitive promotions and the invaluable equity of favorable referrals from current satisfied customers have made U.S. Cellular the leading carrier in many of our markets and a worthy competitor to incumbents in our new markets. We are continuing to grow our customer base across the country.

Our most significant initiative in 2005 will be U.S. Cellular’s entry into St. Louis, Mo., which will become our second-largest market after Chicago. With a total estimated market population of more than 2.9 million, this single launch will be larger in scale than Oklahoma City, Lincoln and Portland combined. Offering service in the St. Louis market will greatly enhance the value of our existing franchise, particularly for customers in the Midwest.

We anticipate that during 2005 U.S. Cellular will continue to reap the rewards of the investments we have made in the business. We will continue making substantial investments to grow market share, introduce new products, and further enhance our focus on customer satisfaction.

Our company is conservatively capitalized, affording us the flexibility to take advantage of strategic opportunities to continue to build and expand our company.

Our goal is to provide the highest level of satisfaction to our customers, which we believe will generate profitable growth for our shareholders and superior rewards for our associates. Based on our results in 2004, it’s clear that we know what winning looks like.

Customers expect it. And we deliver!

Cordially yours,


John E. Rooney
President and Chief Executive Officer



LeRoy T. Carlson, Jr.
Chairman