USCC AND BELLSOUTH EXCHANGE MARKETS

CHICAGO-United States Cellular Corp. announced it has completed the exchange transaction with BellSouth Corp. pursuant to agreements entered into in February.

USCC acquired controlling interests in a 12-market cluster that provides cellular service to most of Wisconsin and parts of northern Illinois, including Milwaukee, Madison, Appleton, Green Bay and Sheboygan, as well as Rockford, Ill. About 4.1 million people live in this service area.

In exchange for these markets, USCC has transferred to BellSouth a nine-market cluster in southern Indiana and Kentucky, a controlling interest in one market in central Tennessee, investment interests in nine other markets and an undisclosed amount of cash.