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Alltel announces Aug. 29 as date for special shareholder meeting


Company also sets second-quarter earnings conference call

LITTLE ROCK, Ark. - Alltel Corp. today announced that a special meeting of shareholders to vote on the proposed purchase of Alltel by TPG Capital and GS Capital Partners (“GSCP”) has been set for Aug. 29. The meeting will be held at noon CDT at Alltel Arena in North Little Rock, Arkansas. Shareholders of record as of the close of business on the record date of July 23, 2007, will be entitled to vote at the meeting.

On June 13, Alltel filed a preliminary proxy statement in connection with the proposed purchase with the Securities and Exchange Commission. Alltel expects the final proxy to be filed shortly. The final proxy statement will be mailed together with a proxy card and notice of the special meeting to Alltel shareholders of record as of the July 23 record date.

On May 20, Alltel announced that it had agreed to be acquired by TPG Capital and GSCP for $71.50 cash for each share of Alltel common stock. The transaction is subject to certain conditions, including approval by Alltel’s shareholders.

Also today, Alltel announced that it will hold a conference call at 7:30 a.m. CDT on Aug. 1 to release the company’s second-quarter earnings results.

Interested parties can access the conference call by dialing 877-493-2983 five minutes prior to the start time. A replay of the call will be available beginning at 10:30 a.m. CDT on Aug. 1 and ending at midnight CDT on Aug. 8. The replay can be accessed by calling 800-642-1687, passcode 10888674.

The conference call will be streamed live over the company’s Web site at Financial, statistical and other information related to the call also will be posted on the investor relations section of the company’s Web site. A replay of the Web cast will be available on the Web site beginning at 10:30 a.m. CDT on Aug. 1.


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