[COMPANY LOGO]

                                                                  NEWS RELEASE


Contact:    Jon D. Drake
            Director of Investor Relations
            Alamosa Holdings, Inc.
            806-722-1455
            jdrake@alamosapcs.com
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            Alamosa Extends Exchange Offers Until November 4, 2003

LUBBOCK, Texas, October 30, 2003 -- Alamosa Holdings, Inc. (OTC Bulletin
Board: ALMO) and its wholly owned subsidiary Alamosa (Delaware), Inc.
(together, the "Company"), the largest (based on number of subscribers) PCS
Affiliate of Sprint (NYSE: FON), today announced that it has extended the
expiration date of its offers for its public indebtedness (the "Exchange
Offers"), which commenced on September 12, 2003. The Exchange Offers, which
were scheduled to expire at 5:00 p.m., New York City time, on October 29,
2003, are now scheduled to expire at 5:00 p.m., New York City time, on
November 4, 2003, unless further extended.

As of the close of business on October 29, 2003, approximately $221 million in
principal amount of 12.5% Senior Notes due 2011, $136 million in principal
amount of 13.625% Senior Notes due 2011 and $317 million in principal amount
of 12.875% Senior Discount Notes due 2010, representing approximately 89%, 91%
and 91% of the total outstanding principal amount of the 12.5% Senior Notes,
13.625% Senior Notes and the 12.875% Senior Discount Notes, respectively, had
been validly tendered and not withdrawn in the Exchange Offers.

The Company also announced that it has received sufficient votes in favor of
the Prepackaged Plan and, accordingly, can effectuate the restructuring
transactions through confirmation of the Prepackaged Plan, if necessary. The
Company is extending the Exchange Offers in order to permit all Noteholders
who have not previously tendered to tender their Existing Notes so that
tendering Noteholders can receive the same consideration that would be
delivered to Noteholders under the Prepackaged Plan more quickly and without
the possible downside risk to investors and incremental costs associated with
a bankruptcy filing.

The Company has executed supplemental indentures eliminating substantially all
of the covenant protection in the existing indentures, subject to consummation
of the Exchange Offers. Therefore, the Consent Date, as defined in the
documents for the Exchange Offers sent to holders of Existing Notes, has been
declared as October 29, 2003, and tenders of Existing Notes or consents to the
supplemental indentures may no longer be withdrawn.

Wells Fargo Bank Minnesota, N.A. is the information agent and exchange agent
for the Exchange Offers.

                                   - MORE -


ABOUT ALAMOSA
Alamosa Holdings, Inc. is the largest PCS Affiliate of Sprint based on number
of subscribers. Alamosa has the exclusive right to provide digital wireless
mobile communications network services under the Sprint brand name throughout
its designated territory located in Texas, New Mexico, Oklahoma, Arizona,
Colorado, Utah, Wisconsin, Minnesota, Missouri, Washington, Oregon, Arkansas,
Kansas, Illinois and California. Alamosa's territory includes licensed
population of 15.8 million residents.

FORWARD LOOKING STATEMENTS
Statements contained in this news release that are forward-looking statements,
such as statements containing terms such as can, may, will, expect, plan, and
similar terms, are subject to various risks and uncertainties. Such
forward-looking statements are made pursuant to the "safe-harbor" provisions
of the private Securities Litigation Reform Act of 1995 and are made based on
management's current expectations or beliefs as well as assumptions made by,
and information currently available to, management. A variety of factors could
cause actual results to differ materially from those anticipated in Alamosa's
forward-looking statements, including the following factors: Alamosa's
dependence on its affiliation with Sprint; shifts in populations or network
focus; changes or advances in technology; changes in Sprint's national service
plans or fee structure with us; change in population; difficulties in network
construction; increased competition in our markets; adverse changes in
financial position, condition or results of operations. For a detailed
discussion of these and other cautionary statements and factors that could
cause actual results to differ from Alamosa's forward-looking statements,
please refer to Alamosa's filings with the Securities and Exchange Commission,
especially in the "risk factors" sections of Alamosa's Annual Report on Form
10-K for the year ended December 31, 2002 and in subsequent filings with the
Securities and Exchange Commission. Investors and analysts should not place
undue reliance on forward-looking statements.

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