<SEC-DOCUMENT>0001051512-14-000057.txt : 20140903
<SEC-HEADER>0001051512-14-000057.hdr.sgml : 20140903
<ACCEPTANCE-DATETIME>20140903150734
ACCESSION NUMBER:		0001051512-14-000057
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20140902
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20140903
DATE AS OF CHANGE:		20140903

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TELEPHONE & DATA SYSTEMS INC /DE/
		CENTRAL INDEX KEY:			0001051512
		STANDARD INDUSTRIAL CLASSIFICATION:	TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813]
		IRS NUMBER:				362669023
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14157
		FILM NUMBER:		141080270

	BUSINESS ADDRESS:	
		STREET 1:		30 NORTH LASALLE STREET
		STREET 2:		STE 4000
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60602
		BUSINESS PHONE:		3126301900

	MAIL ADDRESS:	
		STREET 1:		30 NORTH LASALLE STREET
		STREET 2:		STE 4000
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60602
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>tds_8k.htm
<DESCRIPTION>8-K
<TEXT>

<html>

<head>
<meta content="text/html; charset=utf-8" />




&nbsp;</head>

<body><a name="page_1"></a><DIV bclPageBorder STYLE="WIDTH: 100%; PADDING-RIGHT: 5%; PADDING-LEFT: 5%">

<DIV bclHeader>


<p style="margin:0in;margin-bottom:.0001pt;tab-stops:center 3.25in right 6.5in;"><font face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p align=center style="margin:0in;margin-bottom:.0001pt;page-break-after:avoid;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:18.0pt;layout-grid-mode:line;">FORM
8-K</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;text-indent:.5in;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;">&nbsp;</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:18.0pt;layout-grid-mode:line;">SECURITIES AND EXCHANGE
COMMISSION</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;">Washington, D.C. 20549</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;">&nbsp;</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;layout-grid-mode:line;">CURRENT REPORT</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;layout-grid-mode:line;">&nbsp;</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;layout-grid-mode:line;">Pursuant to Section 13 or 15(d)
of</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;layout-grid-mode:line;">The Securities Exchange Act of
1934</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;">&nbsp;</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;">Date of Report (Date of earliest event reported): </font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;">September 2, 2014</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;">&nbsp;</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;">&nbsp;</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:18.0pt;layout-grid-mode:line;">TELEPHONE AND DATA SYSTEMS, INC.</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;">(Exact name of registrant as specified in its charter)</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:9.0pt;">
  <td valign=bottom width=4% style="background:white;height:9.0pt;padding:0in 5.75pt 0in 5.75pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=30% style="background:white;height:9.0pt;padding:0in 5.75pt 0in 5.75pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:white;height:9.0pt;padding:0in 5.75pt 0in 5.75pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=30% style="background:white;height:9.0pt;padding:0in 5.75pt 0in 5.75pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:white;height:9.0pt;padding:0in 5.75pt 0in 5.75pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=24% style="background:white;height:9.0pt;padding:0in 5.75pt 0in 5.75pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=4% style="background:white;height:12.75pt;padding:0in 5.75pt 0in 5.75pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=30% style="background:white;height:12.75pt;padding:0in 5.75pt 0in 5.75pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">Delaware</font></b></p>
  </td>
 <td valign=bottom width=6% style="background:white;height:12.75pt;padding:0in 5.75pt 0in 5.75pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=30% style="background:white;height:12.75pt;padding:0in 5.75pt 0in 5.75pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">001-14157</font></b></p>
  </td>
 <td valign=bottom width=6% style="background:white;height:12.75pt;padding:0in 5.75pt 0in 5.75pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=24% style="background:white;height:12.75pt;padding:0in 5.75pt 0in 5.75pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">36-2669023</font></b></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td valign=bottom width=4% style="background:white;height:25.5pt;padding:0in 5.75pt 0in 5.75pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=top width=30% style="background:white;height:25.5pt;padding:0in 5.75pt 0in 5.75pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman,serif" style="font-size:10.0pt;">(State or other
  jurisdiction</font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman,serif" style="font-size:10.0pt;">of incorporation)</font></p>
  </td>
 <td valign=bottom width=6% style="background:white;height:25.5pt;padding:0in 5.75pt 0in 5.75pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=top width=30% style="background:white;height:25.5pt;padding:0in 5.75pt 0in 5.75pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman,serif" style="font-size:10.0pt;">(Commission File
  Number)</font></p>
  </td>
 <td valign=bottom width=6% style="background:white;height:25.5pt;padding:0in 5.75pt 0in 5.75pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=top width=24% style="background:white;height:25.5pt;padding:0in 5.75pt 0in 5.75pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman,serif" style="font-size:10.0pt;">(I.R.S. Employer
  Identification No.)</font></p>
  </td>
 </tr>
<tr style="height:6.75pt;">
  <td valign=bottom width=4% style="background:white;height:6.75pt;padding:0in 5.75pt 0in 5.75pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=30% style="background:white;height:6.75pt;padding:0in 5.75pt 0in 5.75pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:white;height:6.75pt;padding:0in 5.75pt 0in 5.75pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=30% style="background:white;height:6.75pt;padding:0in 5.75pt 0in 5.75pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:white;height:6.75pt;padding:0in 5.75pt 0in 5.75pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=24% style="background:white;height:6.75pt;padding:0in 5.75pt 0in 5.75pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=4% style="background:white;height:12.75pt;padding:0in 5.75pt 0in 5.75pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td colspan=3 valign=bottom width=66% style="background:white;height:12.75pt;padding:0in 5.75pt 0in 5.75pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">30 North LaSalle
  Street, Suite 4000, Chicago, Illinois</font></b></p>
  </td>
 <td valign=bottom width=6% style="background:white;height:12.75pt;padding:0in 5.75pt 0in 5.75pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=24% style="background:white;height:12.75pt;padding:0in 5.75pt 0in 5.75pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">60602&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=4% style="background:white;height:12.75pt;padding:0in 5.75pt 0in 5.75pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td colspan=3 valign=bottom width=66% style="background:white;height:12.75pt;padding:0in 5.75pt 0in 5.75pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman,serif" style="font-size:10.0pt;">(Address of principal
  executive offices)</font></p>
  </td>
 <td valign=bottom width=6% style="background:white;height:12.75pt;padding:0in 5.75pt 0in 5.75pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=24% style="background:white;height:12.75pt;padding:0in 5.75pt 0in 5.75pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman,serif" style="font-size:10.0pt;">(Zip Code)</font></p>
  </td>
 </tr>
</table></div>



<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;">Registrant's
telephone number, including area code:&#160; </font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;">(312) 630-1900</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;">&nbsp;</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;">Not
Applicable</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;">(Former
name or former address, if changed since last report)</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;">Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below):</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<div align=left><table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr style="height:12.4pt;">
  <td valign=top width=7% style="height:12.4pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;layout-grid-mode:char;">&#61608;</font></p>
  </td>
 <td valign=top width=93% style="height:12.4pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;layout-grid-mode:char;">Written communications
  pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></p>
  </td>
 </tr>
<tr style="height:12.25pt;">
  <td valign=top width=7% style="height:12.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=top width=93% style="height:12.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:12.4pt;">
  <td valign=top width=7% style="height:12.4pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;layout-grid-mode:char;">&#61608;</font></p>
  </td>
 <td valign=top width=93% style="height:12.4pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;layout-grid-mode:char;">Soliciting material pursuant
  to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></p>
  </td>
 </tr>
<tr style="height:12.4pt;">
  <td valign=top width=7% style="height:12.4pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=top width=93% style="height:12.4pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:12.25pt;">
  <td valign=top width=7% style="height:12.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;layout-grid-mode:char;">&#61608;</font></p>
  </td>
 <td valign=top width=93% style="height:12.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;layout-grid-mode:char;">Pre-commencement
  communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
  240.14d-2(b))</font></p>
  </td>
 </tr>
<tr style="height:12.25pt;">
  <td valign=top width=7% style="height:12.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=top width=93% style="height:12.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:12.25pt;">
  <td valign=top width=7% style="height:12.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;layout-grid-mode:char;">&#61608;</font></p>
  </td>
 <td valign=top width=93% style="height:12.25pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;layout-grid-mode:char;">Pre-commencement
  communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
  240.13e-4(c))</font></p>
  </td>
 </tr>
</table></div>






<p style="margin:0in;margin-bottom:.0001pt;"><font face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:.2pt;">&nbsp;</font></p>


<DIV bclFooter>


<p style="margin:0in;margin-bottom:.0001pt;tab-stops:center 3.25in right 6.5in;"><font face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_2"></a><DIV bclPageBorder STYLE="WIDTH: 100%; PADDING-RIGHT: 5%; PADDING-LEFT: 5%">

<DIV bclHeader>


<p style="margin:0in;margin-bottom:.0001pt;tab-stops:center 3.25in right 6.5in;"><font face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">Item 8.01.&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">Other
Events</font></u></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">&#160;&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; On
September 2, 2014, TDS issued a press release relating to its acquisition of a
group of companies operating as BendBroadband, which is attached hereto as
Exhibit 99.1 and incorporated by reference herein.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">Item
9.01.&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">Financial Statements and Exhibits</font></u></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;text-decoration:none;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (d)
&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">Exhibits:&nbsp;</font></u></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; In
accordance with the provisions of Item 601 of Regulation S-K, any Exhibits
filed or furnished herewith are set forth on the Exhibit Index attached hereto.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Attached as
Exhibit 99.2 is a safe harbor cautionary statement under the Private Securities
Litigation Reform Act of 1995.</font></p>




<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.2pt;">&nbsp;</font></p>


<DIV bclFooter>


<p style="margin:0in;margin-bottom:.0001pt;tab-stops:center 3.25in right 6.5in;"><font face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_3"></a><DIV bclPageBorder STYLE="WIDTH: 100%; PADDING-RIGHT: 5%; PADDING-LEFT: 5%">

<DIV bclHeader>


<p style="margin:0in;margin-bottom:.0001pt;tab-stops:center 3.25in right 6.5in;"><font face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>

<div align=left><table border=1 cellpadding=0 cellspacing=0 style="border:none;border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=3 valign=bottom width=100% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">SIGNATURES</font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td colspan=3 valign=bottom width=100% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td colspan=3 valign=bottom width=100% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Pursuant to the requirements of the Securities Exchange Act of
  1934, the registrant has duly caused this report to be signed on its behalf
  by the undersigned, thereto duly authorized.</font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=12% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=36% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=52% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td colspan=2 valign=bottom width=48% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Telephone and Data Systems, Inc.</font></p>
  </td>
 <td valign=bottom width=52% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td colspan=2 valign=bottom width=48% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">(Registrant)</font></p>
  </td>
 <td valign=bottom width=52% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=12% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=36% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=52% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=12% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Date:</font></p>
  </td>
 <td valign=bottom width=36% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">September 3, 2014</font></p>
  </td>
 <td valign=bottom width=52% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=12% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=36% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=52% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=12% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">By:</font></p>
  </td>
 <td valign=bottom width=36% style="background:white;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">/s/ Douglas D. Shuma</font></p>
  </td>
 <td valign=bottom width=52% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=12% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=36% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Douglas D. Shuma</font></p>
  </td>
 <td valign=top width=52% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=12% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=36% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Senior Vice President and Controller</font></p>
  </td>
 <td valign=bottom width=52% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=12% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td colspan=2 valign=bottom width=88% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">(principal financial officer and principal accounting officer)</font></p>
  </td>
 </tr>
</table></div>






<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.2pt;">&nbsp;</font></p>


<DIV bclFooter>


<p style="margin:0in;margin-bottom:.0001pt;tab-stops:center 3.25in right 6.5in;"><font face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_4"></a><DIV bclPageBorder STYLE="WIDTH: 100%; PADDING-RIGHT: 5%; PADDING-LEFT: 5%">

<DIV bclHeader>


<p style="margin:0in;margin-bottom:.0001pt;tab-stops:center 3.25in right 6.5in;"><font face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>

<div align=left><table border=1 cellpadding=0 cellspacing=0 style="border:none;border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=3 valign=bottom width=100% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">EXHIBIT
  INDEX</font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=11% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=83% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td colspan=3 valign=bottom width=100% style="background:white;border:none;height:15.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">The
  following exhibits are filed or furnished herewith as noted below.</font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=11% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=83% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:16.5pt;">
  <td valign=bottom width=11% style="background:white;border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Exhibit No.</font></b></p>
  </td>
 <td valign=bottom width=6% style="background:white;border:none;height:16.5pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=83% style="background:white;border:none;border-bottom:solid black 1.0pt;height:16.5pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Description</font></b></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=11% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=83% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=11% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">99.1&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=83% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">TDS BendBroadband Acquisition Press Release dated September 2,
  2014</font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=11% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=83% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=11% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">99.2&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=83% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Private Securities Litigation Reform Act of 1995 Safe Harbor
  Cautionary Statement</font></p>
  </td>
 </tr>
</table></div>



<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:2.0pt;">&nbsp;</font></p>




<DIV bclFooter>


<p style="margin:0in;margin-bottom:.0001pt;tab-stops:center 3.25in right 6.5in;"><font face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div></BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>exhibit99_1.htm
<DESCRIPTION>EX-99.1
<TEXT>

<html>

<head>
<meta content="text/html; charset=utf-8" />




&nbsp;</head>

<body link="#0385D7" vlink=purple><a name="page_1"></a><DIV bclPageBorder STYLE="WIDTH: 100%; PADDING-RIGHT: 5%; PADDING-LEFT: 5%">

<DIV bclHeader>


<p style="margin:0in;margin-bottom:.0001pt;tab-stops:center 3.25in right 6.5in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>


</DIV>
<p align=right style="margin:0in;margin-bottom:.0001pt;margin-left:0pt;margin-right:0pt;margin-top:0in;text-align:right;text-indent:9.0pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Exhibit
99.1</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:0pt;margin-right:0pt;margin-top:0in;text-indent:9.0pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <img alt=TDSCorpLogoandTextBlue height=90 id="Picture 1" src="exhibit99_1-x0x0.jpg" width=348></font>&nbsp;</p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">FOR RELEASE: IMMEDIATE</font></b></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">TDS<sup>&#174;</sup> acquires BendBroadband in Central
Oregon<br>
</font></b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">TDS Telecom to manage operations
as it expands its cable and broadband portfolio in U.S.<br>
<br>
</font></i><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">MADISON, Wis. (Sept. 2, 2014)&#8212;</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">TDS Telecom, a subsidiary of Telephone and Data
Systems, Inc. [NYSE: TDS], announces the completion of the purchase of
substantially all of the assets of BendBroadband, a cable and broadband company
headquartered in Bend, Oregon, effective September 1, 2014, for a purchase
price of $261 million. <br>
<br>
In May, Telephone and Data Systems announced its intention to acquire
BendBroadband in Central Oregon pending regulatory approvals, which have been
received. TDS Telecom will manage the acquired BendBroadband businesses.<br>
<br>
&#8220;BendBroadband is an exceptional company,&#8221; states Mark Barber, vice president
of Cable Operations for TDS Telecom. &#8220;BendBroadband customers should continue
to expect the same great products and services, along with the strong local
traditions BendBroadband has established.&#8221;<br>
<br>
Transition teams have been anticipating the announcement and working to prepare
both organizations for a successful start. TDS Telecom is focused on supporting
the nearly 300 BendBroadband employees who have now joined the company.
&#8220;Working together to implement a successful integration within the TDS
organization is a top priority,&#8221; adds Barber. <br>
<br>
In 2013, BendBroadband reported annual revenues of $70 million. </font><font color=#050005 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">BendBroadband businesses, including The Vault&#8482; and Zolo
Media, offer an extensive range of broadband, fiber connectivity, cable
television and telephone services for thousands of commercial and residential
customers. OneNeck<sup>&#174;</sup> IT Solutions, a TDS company, plans to integrate
The Vault into its portfolio of data centers across the U.S.<br>
<br>
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&#8220;Our success will be fueled by a geographic region that is exploding
with business growth and residential development. It&#8217;s the hot spot of Central
Oregon,&#8221; said David A. Wittwer, president and CEO, TDS Telecom. &#8220;I believe the
BendBroadband businesses have significant potential to deliver increased
returns over time and the team of talented employees in Bend will help us
expand our cable operations and expertise in other states as well.&#8221; <br>
<br>
</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"># # #<br>
<br>
Media contact: </font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">DeAnne Boegli, National Public Relations
Manager, TDS Telecom / 608-664-4428 / deanne.boegli@tdstelecom.com <br>
<br>
</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">About TDS Telecom</font></b></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;"><font style="display:none;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"><br>
</font></b></font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">TDS
Telecom, the seventh largest local exchange telephone company in the U.S., is a
wholly owned subsidiary of Telephone and Data Systems, Inc. TDS Telecom
provides 1.1 million connections to high-speed Internet, phone, and TV
entertainment services to customers in more than a hundred rural, suburban, and
metropolitan communities. TDS Telecom offers businesses the latest
communications solutions, including: VoIP (managedIP Hosted) phone service,
dedicated high-speed Internet and hosted-managed services. Visit </font><font color=windowtext face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">tdstelecom.com&nbsp;</font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> or </font><font color=windowtext face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">tdsbusiness.com</font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">.<br>
<br>
TDS Telecom, headquartered in Madison, Wis., operates OneNeck&#174; IT Solutions
LLC, TDS Baja Broadband LLC, and now BendBroadband. Combined, the company
employs 3,300 people.<br>
<br>
</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">About BendBroadband<br>
</font></b><font color=#050005 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">BendBroadband and its
nearly 300 employees have been serving Central Oregon for more than 50 years.
The company quickly began earning its reputation as a regional technology
leader in cable and broadband when it first offered local cable TV services in
1955. BendBroadband and its businesses, The Vault&#8482; by BendBroadband and Zolo
Media, offer an extensive range of broadband, fiber connectivity, cable
television and telephone services for commercial and residential customers. In
2011, the company opened The Vault, a Tier III, SSAE 16, LEED Gold, Energy
Star-certified data center with hosted storage for primary site and disaster
recovery needs, equipment colocation and managed services. Through its Zolo
Media division, the company</font><b><font color=#585852 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">
</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">operates KBNZ CBS affiliate, KOHD ABC
affiliate, COTV11 and offers multiple video advertising, local advertising and
viewing options for Central Oregonians. <br>
<br>
</font><!-- Do not modify beyond this point! !--><a name=bcl_connect_next></a></p>
<DIV bclFooter>


<p style="margin:0in;margin-bottom:.0001pt;tab-stops:center 3.25in right 6.5in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_2"></a><DIV bclPageBorder STYLE="WIDTH: 100%; PADDING-RIGHT: 5%; PADDING-LEFT: 5%">

<DIV bclHeader>


<p style="margin:0in;margin-bottom:.0001pt;tab-stops:center 3.25in right 6.5in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>


</DIV>
<p style="background:white;margin:0in;margin-bottom:.0001pt;"><a name=bcl_connect_prev></a><!-- Do not modify before this point! !--><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">About Telephone and Data Systems<br>
</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Telephone
and Data Systems, Inc. [NYSE: TDS], a Fortune 1000&#8482; company, provides wireless;
cable and wireline broadband, TV and voice; and hosted and managed services to
approximately 5.8 million customers nationwide through its subsidiaries TDS
Telecom and U.S. Cellular. Founded in 1969 and headquartered in Chicago,
Telephone and Data Systems employs 10,000 people. Visit </font><font color=windowtext face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">teldta.com</font><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">.<br>
<br>
</font><b><i><font color=#333333 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Safe Harbor
Statement Under the Private Securities Litigation Reform Act of 1995:</font></i></b><font color=#333333 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;"> All information set forth in this news
release, except historical and factual information, represents forward-looking
statements. This includes all statements about the company's plans, beliefs,
estimates, and expectations. These statements are based on current estimates,
projections, and assumptions, which involve certain risks and uncertainties
that could cause actual results to differ materially from those in the
forward-looking statements. Important factors that may affect these
forward-looking statements include, but are not limited to: impacts of any
pending acquisition and divestiture transactions,&nbsp; including, but not
limited to, the ability to obtain regulatory approvals, successfully complete
the transactions and the financial impacts of such transactions; the ability of
the company to successfully manage and grow its markets; the overall economy;
competition; the access to and pricing of unbundled network elements; the
ability to obtain or maintain roaming arrangements with other carriers on
acceptable terms; the state and federal telecommunications regulatory
environment; the value of assets and investments; adverse changes in the
ratings afforded TDS and U.S. Cellular debt securities by accredited ratings
organizations; industry consolidation; advances in telecommunications
technology; uncertainty of access to the capital markets;&nbsp; pending and
future litigation; changes in income tax rates, laws, regulations or rulings;
acquisitions/divestitures of properties and/or licenses; changes in customer growth
rates, average monthly revenue per user, churn rates, roaming revenue and
terms, the availability of wireless devices, or the mix of products and
services offered by U.S. Cellular and TDS Telecom. Investors are encouraged to
consider these and other risks and uncertainties that are discussed in the Form
8-K Current Report used by TDS to furnish this press release to the Securities
and Exchange Commission (&quot;SEC&quot;), which are incorporated by reference
herein.&nbsp;&nbsp;&nbsp; </font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;"><font color=#333333 face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="background:white;margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Sources: TDS Telecom, Telephone and Data Systems, Inc.<br>
<br>
<br>
</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:2.0pt;">&nbsp;</font></p>




<DIV bclFooter>


<p style="margin:0in;margin-bottom:.0001pt;tab-stops:center 3.25in right 6.5in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div></BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>exhibit99_2.htm
<DESCRIPTION>EX-99.2
<TEXT>

<html>

<head>
<meta content="text/html; charset=utf-8" />





&nbsp;</head>

<body><a name="page_1"></a><DIV bclPageBorder STYLE="WIDTH: 100%; PADDING-RIGHT: 5%; PADDING-LEFT: 5%">

<DIV bclHeader>


<p style="margin:0in;margin-bottom:.0001pt;tab-stops:center 3.25in right 6.5in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>


</DIV>
<p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Exhibit
99.2</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">PRIVATE SECURITIES
LITIGATION REFORM ACT OF&nbsp;1995</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">SAFE HARBOR CAUTIONARY STATEMENT</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">This Form&nbsp;8-K contains statements that are not based on
historical facts and represent forward-looking statements, as this term is
defined in the Private Securities Litigation Reform Act of 1995.&nbsp; All
statements, other than statements of historical facts, that address activities,
events or developments that TDS intends, expects, projects, believes,
estimates, plans or anticipates will or may occur in the future are
forward-looking statements.&nbsp; The words &#8220;believes,&#8221; &#8220;anticipates,&#8221;
&#8220;estimates,&#8221; &#8220;expects,&#8221; &#8220;plans,&#8221; &#8220;intends,&#8221; &#8220;projects&#8221; and similar expressions
are intended to identify these forward-looking statements, but are not the
exclusive means of identifying them. Such forward-looking statements involve
known and unknown risks, uncertainties and other factors that may cause actual
results, events or developments to be significantly different from any future
results, events or developments expressed or implied by such forward-looking
statements.&nbsp; Such risks, uncertainties and other factors include those set
forth below, as more fully described under &#8220;Risk Factors&#8221; in the most recent
filing of TDS&#8217; Form&nbsp;10-K, as updated by any TDS Form&nbsp;10-Q filed
subsequent to such Form&nbsp;10-K.&nbsp; However, such factors are not
necessarily all of the important factors that could cause actual results, performance
or achievements to differ materially from those expressed in, or implied by,
the forward-looking statements contained in this document.&nbsp; Other unknown
or unpredictable factors also could have material adverse effects on future
results, performance or achievements.&nbsp; TDS undertakes no obligation to
update publicly any forward-looking statements whether as a result of new
information, future events or otherwise.&nbsp; You should carefully consider
the Risk Factors in the most recent filing of TDS&#8217; Form&nbsp;10-K, as updated
by any TDS Form&nbsp;10-Q filed subsequent to such Form&nbsp;10-K, the
following factors and other information contained in, or incorporated by
reference into, this Form&nbsp;8-K to understand the material risks relating to
TDS&#8217; business.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-indent:.5in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Intense competition in the markets in which TDS operates could
adversely affect TDS&#8217; revenues or increase its costs to compete.</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">A failure by TDS to successfully execute its business strategy
(including planned acquisitions, divestitures and exchanges) or allocate resources
or capital could have an adverse effect on TDS&#8217; business, financial condition
or results of operations.</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">A failure by TDS&#8217; service offerings to meet customer
expectations, including any continuing issues relating to the conversion to the
new Billing and Operational Support System (&quot;B/OSS&quot;) in the third
quarter of 2013, could limit TDS&#8217; ability to attract and retain customers and
could have an adverse effect on TDS&#8217; business, financial condition or results
of operations.</font></i></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">TDS offers customers the option to purchase certain devices
under installment contracts, which could result in higher churn and higher bad
debts expense. </font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">TDS&#8217; system infrastructure may not be capable of supporting
changes in technologies and services expected by customers, which could result
in a loss of existing customers and revenues and impair TDS' ability to add new
customers and revenues.</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Changes in roaming practices or other factors could cause TDS&#8217;
roaming revenues to decline from current levels and/or impact TDS&#8217; ability to
service its customers in geographic areas where TDS does not have its own
network, which would have an adverse effect on TDS&#8217; business, financial
condition or results of operations. </font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">A failure by TDS to obtain access to adequate radio spectrum
to meet current or anticipated future needs and/or to accurately predict future
needs for radio spectrum could have an adverse effect on TDS&#8217; business,
financial condition or results of operations.</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">To the extent conducted by the Federal Communications
Commission (&#8220;FCC&#8221;), TDS is likely to participate in FCC auctions of additional
spectrum in the future as an applicant or as a noncontrolling partner in
another auction applicant and, during certain periods, will be subject to the
FCC&#8217;s anti-collusion rules, which could have an adverse effect on TDS.</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Changes in the regulatory environment or a failure by TDS to
timely or fully comply with any applicable regulatory requirements could
adversely affect TDS&#8217; business, financial condition or results of operations.</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Changes in Universal Service Fund (&#8220;USF&#8221;) funding and/or
intercarrier compensation could have an adverse impact on TDS&#8217; business,
financial condition or results of operations.</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">An inability to attract and/or retain highly competent
management, technical, sales and other personnel could have an adverse effect
on TDS&#8217; business, financial condition or results of operations.</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">TDS&#8217; assets are concentrated primarily in the U.S.
telecommunications industry. As a result, its results of operations may
fluctuate based on factors related primarily to conditions in this industry.</font></i></p>


<DIV bclFooter>


<p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font style="mso-no-proof:yes;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">1</font></font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:2.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_2"></a><DIV bclPageBorder STYLE="WIDTH: 100%; PADDING-RIGHT: 5%; PADDING-LEFT: 5%">

<DIV bclHeader>


<p style="margin:0in;margin-bottom:.0001pt;tab-stops:center 3.25in right 6.5in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">TDS&#8217; lower scale relative to larger competitors could adversely
affect its business, financial condition or results of operations.</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Changes in various business factors could have an adverse
effect on TDS&#8217; business, financial condition or results of operations. </font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Advances or changes in technology could render certain technologies
used by TDS obsolete, could put TDS at a competitive disadvantage, could reduce
TDS&#8217; revenues or could increase its costs of doing business.</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Complexities associated with deploying new technologies
present substantial risk.</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">TDS is subject to numerous surcharges and fees from federal,
state and local governments, and the applicability and the amount of these fees
are subject to great uncertainty.</font></i></p>

<p style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Performance under device purchase agreements could have a
material adverse impact on TDS' business, financial condition or results of
operations.</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Changes in TDS&#8217; enterprise value, changes in the market supply
or demand for wireless licenses, wireline or cable markets or IT service
providers, adverse developments in the businesses or the industries in which
TDS is involved and/or other factors could require TDS to recognize impairments
in the carrying value of its licenses, goodwill, franchise rights and/or
physical assets.</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Costs, integration problems or other factors associated with
acquisitions, divestitures or exchanges of properties or licenses and/or
expansion of TDS&#8217; businesses could have an adverse effect on TDS&#8217; business,
financial condition or results of operations.</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">A significant portion of TDS&#8217; wireless revenues is derived
from customers who buy services through independent agents and third-party
national retailers who market TDS&#8217; services on a commission basis. If TDS&#8217;
relationships with these agents or third-party national retailers are seriously
harmed, its business, financial condition or results of operations could be
adversely affected.</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">TDS&#8217; investments in unproven technologies may not produce the
benefits that TDS expects.</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">A failure by TDS to complete significant network construction
and systems implementation activities as part of its plans to improve the
quality, coverage, capabilities and capacity of its networks and support
systems could have an adverse effect on its operations.</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Financial difficulties (including bankruptcy proceedings) or
other operational difficulties of TDS&#8217; key suppliers, termination or impairment
of TDS&#8217; relationships with such suppliers, or a failure by TDS to manage its
supply chain effectively could result in delays or termination of TDS&#8217; receipt
of required equipment or services, or could result in excess quantities of
required equipment or services, any of which could adversely affect TDS&#8217;
business, financial condition or results of operations.</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">TDS has significant investments in entities that it does not
control. Losses in the value of such investments could have an adverse effect
on TDS&#8217; financial condition or results of operations.</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">A failure by TDS to maintain flexible and capable
telecommunication networks or information technology, or a material disruption
thereof, including breaches of network or information technology security,
could have an adverse effect on TDS&#8217; business, financial condition or results
of operations.</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Wars, conflicts, hostilities and/or terrorist attacks or
equipment failures, power outages, natural disasters or other events could have
an adverse effect on TDS&#8217; business, financial condition or results of
operations.</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The market price of TDS&#8217; Common Shares is subject to
fluctuations due to a variety of factors.</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Identification of errors in financial information or
disclosures could require amendments to or restatements of financial
information or disclosures included in this or prior filings with the
Securities and Exchange Commission (&#8220;SEC&#8221;).&#160; Such amendments or restatements
and related matters, including resulting delays in filing periodic reports with
the SEC, could have an adverse effect on TDS&#8217; business, financial condition or
results of operations.</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></i></p>


<DIV bclFooter>


<p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font style="mso-no-proof:yes;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">2</font></font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:2.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_3"></a><DIV bclPageBorder STYLE="WIDTH: 100%; PADDING-RIGHT: 5%; PADDING-LEFT: 5%">

<DIV bclHeader>


<p style="margin:0in;margin-bottom:.0001pt;tab-stops:center 3.25in right 6.5in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The existence of material weaknesses in the effectiveness of
internal control over financial reporting could result in inaccurate financial
statements or other disclosures or failure to prevent fraud, which could have
an adverse effect on TDS&#8217; business, financial condition or results of
operations.</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;page-break-after:avoid;text-indent:-.25in;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Changes in facts or circumstances, including new or additional
information that affects the calculation of potential liabilities for
contingent obligations under guarantees, indemnities, claims, litigation or
otherwise, could require TDS to record charges in excess of amounts accrued in
the financial statements, which could have an adverse effect on TDS&#8217; business,
financial condition or results of operations.</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Disruption in credit or other financial markets, a
deterioration of U.S. or global economic conditions or other events could,
among other things, impede TDS&#8217; access to or increase the cost of financing its
operating and investment activities and/or result in reduced revenues and lower
operating income and cash flows, which would have an adverse effect on TDS&#8217;
business, financial condition or results of operations.</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Uncertainty of TDS&#8217; ability to access capital, deterioration
in the capital markets, other changes in market conditions, changes in TDS&#8217;
credit ratings or other factors could limit or restrict the availability of
financing on terms and prices acceptable to TDS, which could require TDS to
reduce its construction, development or acquisition programs.</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Settlements, judgments, restraints on its current or future
manner of doing business and/or legal costs resulting from pending and future
litigation could have an adverse effect on TDS&#8217; business, financial condition
or results of operations.</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The possible development of adverse precedent in litigation or
conclusions in professional studies to the effect that radio frequency
emissions from wireless devices and/or cell sites cause harmful health
consequences, including cancer or tumors, or may interfere with various
electronic medical devices such as pacemakers, could have an adverse effect on
TDS&#8217; wireless business, financial condition or results of operations.</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Claims of infringement of intellectual property and
proprietary rights of others, primarily involving patent infringement claims,
could prevent TDS from using necessary technology to provide products or
services or subject TDS to expensive intellectual property litigation or monetary
penalties, which could have an adverse effect on TDS&#8217; business, financial
condition or results of operations.</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Certain matters, such as control by the TDS Voting Trust and
provisions in the TDS Restated Certificate of Incorporation, may serve to
discourage or make more difficult a change in control of TDS.</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><font face=Symbol lang=EN-US style="font-size:10.0pt;">&#183;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Any of the foregoing events or other events could cause
revenues, earnings, capital expenditures and/or any other financial or
statistical information to vary from TDS&#8217; forward-looking estimates by a
material amount.</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:2.0pt;">&nbsp;</font></p>




<DIV bclFooter>


<p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font style="mso-no-proof:yes;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:normal;">3</font></font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:2.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div></BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>4
<FILENAME>exhibit99_1-x0x0.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 exhibit99_1-x0x0.jpg
M_]C_X``02D9)1@`!`0$`8`!@``#_VP!#``H'!PD'!@H)"`D+"PH,#QD0#PX.
M#QX6%Q(9)"`F)2,@(R(H+3DP*"HV*R(C,D0R-CL]0$!`)C!&2T4^2CD_0#W_
MVP!#`0L+"P\-#QT0$!T]*2,I/3T]/3T]/3T]/3T]/3T]/3T]/3T]/3T]/3T]
M/3T]/3T]/3T]/3T]/3T]/3T]/3T]/3W_P``1"`!:`5P#`2(``A$!`Q$!_\0`
M'P```04!`0$!`0$```````````$"`P0%!@<("0H+_\0`M1```@$#`P($`P4%
M!`0```%]`0(#``01!1(A,4$&$U%A!R)Q%#*!D:$((T*QP152T?`D,V)R@@D*
M%A<8&1HE)B<H*2HT-38W.#DZ0T1%1D=(24I35%565UA96F-D969G:&EJ<W1U
M=G=X>7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&
MQ\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ_\0`'P$``P$!`0$!
M`0$!`0````````$"`P0%!@<("0H+_\0`M1$``@$"!`0#!`<%!`0``0)W``$"
M`Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O`58G+1"A8D-.$E\1<8&1HF
M)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@H.$
MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4
MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H`#`,!``(1`Q$`/P#V:BBB@#Q7
MQ;_R->I?]=OZ"LBM?Q;_`,C7J7_7;^@K.M+.XOIQ!:0O-*>B(,FOI:32IQ;[
M(^4K)NK)+NR&BNQTSX;:C<X>_FCM$/\`"/G?_`?G74VWP]T."(+)#+.W=WD(
M)_+`K"ICJ,-+W]#HIY?6GK:WJ>2T5Z__`,('H'_/D?\`OZ_^-'_"!Z!_SY'_
M`+^O_C6?]HTNS-?[+J]T>045Z[+X`T&2-E6U="?XEE;(_,US&J?#2[AR^F7"
MW"?\\Y?E;\^A_2KACJ4W9Z>IG4RZM!72OZ'$U=T7_D.Z?_U\Q_\`H0J*]T^Z
MTZ?R;VWD@D]'&,_3UJ71?^0[I_\`U\Q_^A"NF;3@VCD@FII/N>Z4445\R?6A
M1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%
M%%`!1110`4444`%%%%`!1110!XKXM_Y&O4O^NW]!5WP'=?8_$)D\B>;]PPVP
MIN;J.WI5+Q;_`,C7J7_7;^@J3PCK-OH6M&[NUD:/RF3$8R<DC_"OH)1<L/9*
M^A\U&2CBKMVU/4/[>_ZA>J?^`_\`]>JU[XPL]-C5[ZTOX$8[5,D&`3^=9_\`
MPLO1_P#GE>?]^Q_C7.>,_%=CXAL;:&S2=6BE+GS%`&,8]:\REA92FE*+2/5J
MXN,8-PFFSI_^%CZ'ZW7_`'Z_^O1_PL?0_6Z_[]?_`%Z\IHKN_L^EYGG_`-IU
MO(]@LO&=CJ6_[#:W]QLQN\N#.,]._M5O^WO^H7JG_@/_`/7KSWP7XEL_#OVS
M[8DS>=LV^6H/3/7GWKJ?^%EZ/_SRO/\`OV/\:XJN%E&;4(MH[Z.,C."<YI,Y
MOXAWPO;^R/V>Y@*1-Q/'M)Y[5SVB_P#(=T__`*^8_P#T(5J^,]?M?$%];36:
MRJL491O,4`YSGUK*T7_D.Z?_`-?,?_H0KTJ,7'#V:MHSRJ\E+$73OJCW2BBB
MOGSZ8SK[7],TRX$%[>Q0RE0VUCSCU_2JW_"7Z%_T$[?\S3-9\'Z;KEZ+J\,_
MF!`GR/@8&?;WKSGPSHUMJ_B1K"Z\SR0)"-C8/RGCFNRC1HS@Y-O3<X*]>O3F
MHI+78]0_X2+2OL!O?MT7V8/Y?F9XW=<5!_PF&@_]!.W_`#-<WXPT2UT'P8+6
MS,GEM>*Y\QLG)!_PJOX3\&:9K6@Q7EV;@2L[*=DF!P<>E-4:/L_:-NU[`Z]?
MVGLHI7M<[:+7M,GL9KR*\B:VA.))`>%/O^=2:?JMEJJ.]A<).J':Q3L:YS6=
M!M-`\$:K#9&79(`[>8VXYR!_2JOPN_Y!M_\`]=A_Z#6;HP=*52+V9HJ\U5C2
MDEJKG:7%Q%:V\D\[B.*-2SL>@%97_"7Z%_T$[?\`,U)XH_Y%?4O^O=_Y5P'@
MGPU8^(4O#?>=^Y*!?+?;US[>U.C1A*FZDV].PJ]>I&K&G32U[GHMCKVF:E(Z
M65Y%,Z+O8*>@]:J_\)?H7_03M_S-1:9X3T_0#<W%D9]\D)0^8^1CKZ>U>?\`
M@G1[/6]7EM[Y&>-82X"L5YR!V^M5"C2FI2N[(BI7K0<(65W<]2L-9T_5"PL;
MN&<KU"-R/PJ.YU_3+.]%G<7L4=P2!Y;'G)Z5YIJ%J/"WCB*.PD?8DD;+D\[6
MQE3Z]ZL>+?\`DH:?]=(/Z5:PD7)6>C5R'C9J+NM4[,]*O]1M-,@$U].D,1;:
M&;IGTIUE?6VHVPN+.99H22`Z],CK7,?$H@^&H\$'_25_DU95A?R:?\*I)(6*
MR/(\:L.HW/@_IFLHX?FIJ2>K=C:>)<*K@UHE<ZFZ\8:'9SM#+?Q^8IPP0%L'
MZ@5HV&IV>J0>=8W$<\8."4/0^X[5P?@;PKIVJZ1-=ZA#YQ:0QH-Q&T`#GCOD
MU2\+L^A^/I+!'8Q-(]NP/\0&2I/OP*TEAJ;YHP;O$RABJJY)32Y9'?W'B72+
M6Z>VN+^&.9&VLC'D&KE[?VVG6QN+R98800"[=,GI7D'BU&D\6ZDJ@D^9G`]E
M&:Z?5]3_`+5^%\4[',BO'')_O*V/\#^-.6$24&GO:_S"..;=1-?#>WR.P_M[
M31IPO_MD7V0MM\W/RYSC%5?^$OT+_H)V_P"9KB7_`.23I_U]?^SFI_"'@_3=
M<T3[7>&?S?-9/D?`P,>U)X>E&+E-O1V!8JK.48P2U5SO=/U:RU5':PN4G6,X
M8IV-7*RM#\/6?A^*:.R,NV5@S>8V[D<5JUQSY>;W=CNAS<JY]RGJ&KV.E*AO
M[F.`2$A=YZXZTZPU*TU2$S6-PD\8;:60]#Z5P'CEFU?QA8Z7&WW`J?1G.2?R
MQ4WPTNC;WVHZ;(<'[X'NIVM_2NIX9*C[2^N_R.18MNO[.VFU_,[2_P!<T[2Y
M4COKN.!W7<H<]15B*]MY[(7<4RO;E2XD!XV^M>=?$X9UFR`ZF`_^A5>\%ZB9
M?"NJ:=+D26J2%0>NU@?Y$'\Z'AE[%5$P6+?MY4FMCK[+7-.U&.9[.[CF6$;I
M"I^Z/?\`(U4_X3#0?^@G;_F:XSX??\@S7?\`KW'_`*"U4?`NAV6N7EU%?QLZ
MQQ*R[7*X.?:M'A:<7/F;M&WXF:QE22ARI7E?\#T^PU:QU-6-C=PS[>H1LD?4
M5<KR2_MCX.\:Q"SD?RE9'7<>2C<%3Z]Z]:KGKT53LXNZ9TX>NZO-&2LT+17G
M/_"T;C_H&1?]_C_A1_PM&X_Z!D7_`'^/^%7]1K]C/^T,/_-^#.?\5V\S>*=1
M*PR$&;@A">PK(^S3_P#/"7_O@UV__"T;C_H&1?\`?X_X4?\`"T;C_H&1?]_C
M_A7HPGB(Q4>3;S/+G##2DY>TW\CB/LT__/"7_O@T?9I_^>$O_?!KM_\`A:-Q
M_P!`R+_O\?\`"C_A:-Q_T#(O^_Q_PJO:XC_GW^)'LL-_S\_`XC[-/_SPE_[X
M-'V:?_GA+_WP:[A?BE/D;M,CQ[3'_"N@T+QQI^M3K;,'M;EONI)@ACZ`^M1/
M$5X*[I_B:4\-AZCY8U-?0\G^S3_\\)?^^#1]FG_YX2_]\&O=KR]@L+5[FZE6
M*%!EF:N(O_B>BR%=/L3(HZ/,VW/X"II8RK5^"'XEU<#1H_'4_`X#[-/_`,\)
M?^^#5W1K>8:Y8$PR@"XCR2A_O"NFB^*%Z''FZ?;LG<*[`_UKL?#_`(FLO$4+
M&W+1S)]^%_O+[^X]Z=;$5H1?-#3U%0PU"I)<M37T-FBBBO%/>"O*_`O_`".[
M_P"[-_.O5*\O\$6\T?C5V>&15VR_,R$#K79AG^[J>APXM?O:7J=%\2O^193_
M`*^$_D:Y70/".IZQI27=IJ"P1,S`(7<8P<=N*ZSXC1O+X:18T9V^T)PJDGH:
MY71/%FJ:%IB64.F>8BL6W.CYY.>U=&'<_J_[O>YS8E4_K-ZE[6.AO=(NM%^'
M>I6UY<"XE)W[P2>"5XY^E1_"[_D&W_\`UV'_`*#39M<O?$/@S63=67DO&%5%
M16RV2#T-<[X=\0ZEX<MYHK?3C*)7#DR(_'&.U)0G.C.+^*_^0W4A"M":ORV_
MS/1_%/\`R*^I?]>[_P`J\R\,^';[75N#8WBVPA*ALLPW9SCI]*ZB+Q)?^(-!
MUJ*ZL1!Y=J2FU6RQ.>.:YKP[KNH^'%N!;Z<TOGE2?,1QC&?3ZT\/&I3IRBK<
MUR<3.G4JPG*_+9]SMO#?AN_T);Y[Z]6X$L6%`9CMQGU^M<!X7BU>;4)%T*01
MW'E$L20/ER/7WQ7;^'_%FHZW>36MWIZP1B!W#!6'(QQS]:P_AM!-%K\YDAD0
M?9SRR$?Q"B$IPC4<[7T"<83E25.]M?4T=%\#7\FL+J6O7"R.CB38&W,[#ID]
M`*P_&\1N/'$D*G:9/*0$]L@"O6*\O\5V\S_$!'6&1D\R#Y@A([=ZC#5Y3JN4
MNB-,7AXTZ*C%;M%3Q#X.NM`T];J>]CF0R!-J@CDYYY^E6W!/PGC]KOG_`+[-
M=)\1XWE\.1K&C.?M"G"J2>AJGH>CR:K\-GL2I29V=D#C'S!LC^56J[E2C.;^
MT9O#J-:<*:^R7OAR?^*5'M._]*Y:/GXJ''_/Z?Y4:#XEO?",-Q87>FROE]RJ
MV5*MC![<C@=*N>"M(O=1\1OK=["T<89Y`67&]VST![#)Y^E-Q]G*I4ELUI\Q
M*?M8TJ<=T]?*Q7>-9OBH\<@#(\Y5@>X,>*RYY&TK3]9T.<\K.CQY[E6P?S&#
M^%;*P3?\+5\SRI/+^T_>V''W/6CXCZ/(NKPWT$3NMPFU]BD_,OT]L?E6D)QY
MX0?5+[T9SA+V<YK=2?W,B?\`Y).G_7U_[.:J^'O">I:SIGVJSU!8(MY7868<
MCOQ5UH)O^%5I'Y,F_P"U9V[#G[Q[54T+Q3JF@:=]C@TSS4WE]SH^>?I0G/DE
M[.U^9A:'/#VE[<J.]\*Z-=:)ITEO>W(N)&E+A@2<#`&.?I6T>!D]*YWPGXAO
M->%T;VS6V\DKMP&&[.?7Z5H>([M[+P_>S1JS2"(J@49.3P/YUYE2,G4M+=GK
M4Y05+FALCSC3-7LY/'DNJ:A,(X!)(ZL03VVJ./:GZ?J5M;?$875G*'M;B<J&
M`(&'^ON:L>"?"=MJT-W+JD$NU&5(P2R=LG^E0>,_#<>B7]HVE03>6Z$\;GPZ
MGU_$5ZG-2=1T[ZVMY'D*-94E5MI>_F6_B;_R&['_`*X?^S4FJ_\`%.^,KA_N
M6VH6S9]/F7_XH?K4?CII=1N=)NHX96\RT#$!#P2>AK=^(6E->:';W<,;-+:L
M`0HR2K<']<5E"24:<);.Z-:D7*52<=U9HQOA_P#\@S7?^N`_]!:E^%O_`"$K
M[_K@O\Z?X#@ECT[7!)%(A:`8#*1GAJQ?#&KWGAN>:9-.EG,J!,%67&#GTJZB
MY_:QCN[$4Y<BHRELKFA\1?F\50JO7R$'_CQKU!>%`/7%>8Z;IFJ>+?%":E?V
MS06RNK.64JNU>BKGK_\`KKT^N/%-*,*=]4CMP:;E.I;1O0YK_A7N@_\`/O+_
M`-_F_P`:/^%>Z#_S[R_]_F_QKIJ*Q^L5?YG]YT?5J/\`*ON/#O$%G#I^O7MK
M;J5ABDVH"<X&!WK5\$:%9Z]?745\KLD<89=C;><XJCXM_P"1KU+_`*[?T%=!
M\+_^0K??]<5_]"KV*LY+#<R>MD>'1A%XKE:TNQ_C'PEIFB:(+JR242^:J9:0
ML,'/;\*X0\`UZM\2?^17'_7PG]:\I;[II8&<ITKR=]1YA",*UHJVAW6O>";&
MQ\-'4K22998XT=E=MRMG&>W'6N'1VC=70D,I#*1V(KUSQ-_R($__`%[Q_P`U
MKR*E@JDIP?,[ZCQ].-.I'D5M#N?B5?3.^G6I8^48O.8#NQX_3G\ZYKPYHW]O
M:Q'9&;R592S-C)P.P]Z[/Q[H<]]IEG?VL;2-;Q[9%49.P@'('L?YUYW#/);S
M+-!(T<B'*NAP0?K1A7S4.6#LQ8Q<N(YJBNM/N.L\4^!QHMI#<6$EQ<AGV.A3
M)'&<\#VK.\+I?Z=XDLIA:W*J9!&Y,3`;6X.>/\XJY8_$36;4!9_)NE'_`#T7
M#?F/\*[?PYXNL_$.8E4P72C)A<YR/53WK*I.O2IN-177<WI4\/5JJ5.7*^QT
M%%%%>0>V%%<;\1=1O-.L[%K*YE@+R,&,;8R,5A1VOBR30UU:'5)9(2GF;!,=
M^T=>",=JZH8;F@IN25SDJ8ODFX*+=CT^BN3\#>)IM<MYK>](:Y@`.\#&]3W(
M]15'X@:U>VM]8V.FW$L,K@NWE-@MDX4?SJ5AYNK[)[E/%05'VJV.ZHKA?`^K
MWVIV&J6=Q<R2W:#=$TC<C((Z^Q'ZUAZQ'XKT*UCGOM3F".VP;+@L<XS_`$JU
MA6YNFY)/\S-XQ*FJBBVOR/5J*\TT6S\6:G%:WT6HR-:NX)#7!!(#8/'X&I_'
M.N:@GB&*QTRYGB,<0++$V-S'G^0%'U5N?(I)_H'UQ*G[1Q:_6YZ)17*?#_6)
MM4T:9;J9YIX)2"[G)*D9']:ZNN>I!TY.+Z'32J*I!374**X#QUXDOX=4CTG3
MI6A)52[H<,S-T&>P_P`:R]7L/$/A*.WO6U:202-M.)&8!L9P0W!'!KHAA'))
MN23>QS5,8HRDE%M1W9ZG17F_B35]4GT33-;L[N>WCN$\N:.)R%5QGG\<']*U
M;SQ2X^'L=]'*1>3*(`P/(DZ,?R!-2\+.R:ZNWS*6+A>2?17]4=D0#U`I:\XT
MO6M4TWPA=ZQ=74UQ+/((;59F+*OJV/S_`"JIIVE>(M?TV754U:48+;%,K`OC
MKC'`JOJEK\TDDG;YD?7;V48MMJ_R/4J*\\\+Z]JNN:3J.FB=FO4AWV\[-AAS
MC!/]:R=:?Q1H'D_;M3G'G9V[)RW3&?YTXX-N;@Y*X2QR4%446T>LT5Y_X>T_
MQ3-=V%]<7[R6+E9&5K@G*'U%9%QJ.NWWBNZT^QU&X5FN)%C4RE5`!/'Y"DL)
M>32DM!RQO+%2<'J>KT5P-AH?C"+4+9[K4&:!95,B_:2<KGGC'I69XRUK5+3Q
M3=6]I?7,4:A-L:.0!\H)XHCA>>?+&283QG)#GE%K6QZC17.>"M5DO_"Z3W<K
M22PLZR.YR3CGG\"*\WN/%&LR22RIJ5VB.[%0)"`.^!13PDZDI1OL%7&PIPC.
MVY[717%^,_$EUI&D6,-G(4N+I-S2]2J@#./<DU@7.D>(;'0EUMM6FY59&03-
MN53T/H>HXI0PW-%2E*U]AU,6HR<8Q;MJSU.BN<\':S-X@T%FNF/GQL87=>"W
M'!]C@UCRR7L6A,]O?W9G.IM"&>8L=J%L+^..?6L_8OF<6]4:/$+E4TM&KG=T
M5S7A&_N-0GU&:>61TD=)8D<_ZM&!(`].,5TM9SAR2Y6:TYJ<>9!1114EGBOB
MW_D:]2_Z[?T%=!\+_P#D*WW_`%Q7_P!"KG_%O_(UZE_UV_H*Z#X7_P#(5OO^
MN*_^A5[E;_=?DCYZA_OGS9O?$G_D5Q_U\)_6O*6^Z:]5^)'_`"*X_P"OA/ZU
MY41D$4LO_@_,>9_Q_D>O>)_^1`G_`.O>/^:UY%75ZQXYDU/0_P"S8K,0HRJC
MN7W$@8Z#''2N;L;*;4;V*UMD+RRL%`';W^@JL)3E2IOGTU)QE6-:I'V>NECU
MR\\5Z7HSQ6U[,Z2^4KX$9/!]Q]*SHD\*>+[J2*&`-<A=[.B-&V,XSGOUK)^)
M&D2(;34(U+1I&()6'\./ND_7)KD='U:XT344O+7:74$%6Z,IZ@US4<,ITO:4
MV^8ZJ^+E"K[.K%<OIT-GQ=X0'AX1W%M,TMK*VS#_`'D/7\1Q6'I%U)8ZQ:7$
M1P\<JGZC."/RK2\1^*[OQ&(DFC2&"([A&A)R?4FF>%=+.I:S$\GRVELPEGD/
M0`'('U)KLBY1HOVVYPS4)UU[#8]GHJ.&>.XC$D+AT/<5)7SY],<)\4?^/+3_
M`/KJ_P#*MWPJH;P79*>A@(/ZUA?%'_CQT_\`ZZO_`"I^E>*],TSP5!$UTC7<
M<!40KDMNYP*[^24L-!174\WGC#%3<G;0QOAH2OB*X4=#;MG_`+Z%2E_[;^*:
MX^:.";`],1C_`!%,\`(UC#JNKR#$4%N5#'H6^\?Y#\ZR?#NBZGKMS<3:?<""
M6/EY"[*26SP"/I75)+VE23=M+7]3CC)^RIP2O=WMZ&SHC_V)\2[BU.5CFD>/
M'LWS+_2MCXG?\@*U_P"OD?\`H)KC=9TW4?#>KVLU].)IR1,LBN6SM/0D_2NO
M^(\RW'ANQFC.4DF5U/L5)K.45[:G-.]_T-(2?L*L&K6Z>IK>!?\`D3[+_@?_
M`*$:Y/P[C7?B)<W;#=$ID?\`X#C8OZ&MG2+[^SOA>;D'#+%(%_WBQ`_4UR7A
MKP[JNK0S7&F72VX1A&S&1D+=^U*G%?O9-VUL74F[48)7LKV-;P'*VE^+;W39
M,@.'3!_O(>/TS7I=>.O;W?A;Q=:M?2"29'21Y`Q.Y3P>3STS7L.<\CI6&.C[
MRFNJ-\OD^24'I9G`>/?#5[<:@NJV$;S#8%D1.64CHP'?_P"M5;2_B+/#MM];
MM1.J\&15PX^JG@_I5SQ%XLU31?%?V4NBV.8VQY8)*'&[G\ZB\?W^BW^F026D
MUO->F0%6B(+;,<YQVZ=:WIIRC"G4C=/9KH<]5J,IU*4K-;I]3JKZVM/$WAF2
M.U9&AN(\Q,!P&'(^G(KR.!+R[>#2%SG[00L9_A<X4_RKTSX>121>%(S("`\K
MNF?[N?\`ZQKD]-_Y*BW_`%^2_P`FHPTO9NI%:VU08J/M52F]'+1G9:YX9%[X
M332K,JK6X4Q9X!*^OUY_.N&TOQ!K'@YS9W%J?)+$F&92.>Y5O_UBNY\::K?Z
M-HZ76GE582A9"R;L*0?ZXJAI7B?2]7\-$:]<6QF`831N`">3@@?3'2LJ,I*E
M>4>:+?SN;5XP=6T9<LDOE8U/#?B33]?1_LL?DW"#+Q,!D#U!'45S7Q3_`.8;
M_P!M/_9:S/AU$[^*6DB#>5'"^XGT)&`?\]JT_BG_`,PW_MI_[+5PI1I8M1C_
M`%H9SJRJX-REO_P3K_#?_(MZ=_U[I_*O+I;Z?3/&UU=VL(FFCN9=J$$YR2.@
MY[UZCX;_`.1;TW_KW3^5>;VE[!IWQ$FNKJ3RX8[J7<V"<9W#M2POQ5-+Z,>+
M^"EK;5'0Z/XTUF_U>UM;C3$BBE?:[B-QM'X\5E:[$L_Q/2)QE9)8E/T*@5V4
M?C30994C2_4N[!5&QN2>G:N/UC_DJT/_`%WA_P#013H_&WR\ONL5?^'%<_-[
MR(_#]^VE>'O$EFQQ)",+GU.4/]*PM1L_LWA[2I,8:X\Z0_3(`_E5WQE#)8>)
M]1AC)"7160@?Q9P?_0A5_P`>V@L++1+4#'E6S*?K\N:ZH-*49+[6OX')43<)
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M=/T">66R\[=*H5M[[AC.:V:*T=:HX\K>ADJ%-2YE'4H:OH]KK=E]EO`YBWA_
MD;:<C_\`76)_PKG0_P"[<_\`?XUU5%$:LX*T78)T:<W>44SEE^'6A`@F.X/L
M9C6UINB:?I"%;"UCASU8#+'ZD\U?HHE6J35I2;"%&G!WC%(9+$DT;1RHKQL,
M,K#((^E<Q>?#O1;ER\:SVY/:)^/R.:ZJBE"I.'PNPZE*%3XU<X^'X::3&X,D
MUW*!_"7`'Z"NACT6RM].-E;0K!!Z(.<^I]?QJ_153K5)_$[DPH4Z?PQL5[*S
M2RMQ%&21G/-6***RW-4K:&;K&@V.NQQ)?HSK$2R[7*\GZ5F+\/\`0%8'[-(V
M.QF;'\ZZ6BM(U:D5:,FD9RH4YN\HILH2Z+92Z2VF"$1VC#:8XSMXSGJ*;H^@
MV.A12QV$;(LK!FW,6)(^M:-%3SRM:^A7LXW4K:HR]8\.Z?KQB-_$SF+.PJY7
MKUZ?2FW?AK3[[2[?3[A)&M[?'ECS"",#`Y^AK6HIJI-62>P.E!MMK<R7\,Z=
M)HJ:4T<GV-&W!1(<YSGKUZFK&DZ1::+:&VL4*1%BY!8DY/N?I5ZBDYR:LV"I
MP3NEJ8^K^%],URX2>^B=I$38"KE>,Y[5JQ1B&)(USM10HR<G`I]%#E)I)O1#
M4(IN26K,W5]`T_7(U6_@#E/N.#M9?H165;_#W0H)0[0S2X_ADD)'Y"NGHJHU
MJD5RJ3L1*A3D^:44V-2-8D5(U"HHPJJ,`"LB+PII<.L'5$B<76\R;O,.,G.>
M/QK9HJ5.4;V>Y<H1E:ZV(KBWBNX'@N(UDBD&UD89!%<W)\.M">0L([A`?X5E
M.*ZFBG"K.'PNQ,Z4*GQ*Y2TS1[+1[<PV$"Q(3EB.2Q]R>34&L>'K#7?*^WQN
M_E9V;7*XSC/3Z5J44E.2ES7U&Z<7'EMH0VMK'96D5M`"(HE"("<X`K#N?`NB
M7=S+<302F25R[$2L.3R:Z*BG&I.+O%V"5*$U:2N<W%X"T.&9)4@E#HP93YK=
M0<U=G\,:;<ZRNJ21N;M65@P<XRO`X_"M>BFZU1ZN3)5"FE911DZEX9TW5KZ*
M\O(6>:(`*0Y`P#D9'>EUCPWI^O/$VH1NYB!"[7*\'KT^E:M%)5)JUGL-TH.]
MUON4K[2++4K$6=Y`LL*@;0>JXZ$'J#6$GPYT)9-Q2X8?W3*<?XUU5%.-6<%:
H+:%.C3F[RBF06EG!8VR6]K$D4*#"HHP!4]%%9MWU-$DM$%%%%`S_V3\_
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
