CenturyTel Outlines Growth Initiatives and Financial Guidance for 2001.

Business Editors

MONROE, La.--(BUSINESS WIRE)--Jan. 30, 2001

CenturyTel, Inc. (NYSE:CTL) announces its growth initiatives and financial guidance for 2001.

CenturyTel expects total company revenues to increase approximately 16% to 19% and will likely range from $2.15 billion to $2.20 billion for 2001. It is anticipated that operating cash flow will rise 14% to 18% and range from $1.04 billion to $1.08 billion. This anticipated increase represents an acceleration in cash flow growth from the low teens range experienced in 2000 into the upper teens range for 2001. CenturyTel believes total operating income will rise to between $550 million and $600 million. The company anticipates fully diluted earnings per share will range from $1.65 to $1.75 for the year. Cash earnings per share will likely range from $2.07 to $2.17.

There are several factors which will affect 2001 earnings growth: (1) estimated CLEC startup losses of $15 million; (2) additional interest expense stemming from the Verizon acquisitions; (3) lower than anticipated telephone revenues due in part to access rates in the state of Wisconsin; and (4) further reductions in wireless roaming revenues.

"We are confident in our ability to drive incremental cash flows, reduce debt, and enhance our earnings growth rate over time," Glen F. Post, III, President and Chief Executive Officer, said. "We also expect to resolve the access rate issues in Wisconsin by the end of the year as we are committed to working with the Wisconsin Public Service Commission to obtain a fair solution."

CenturyTel anticipates first quarter 2001 revenues will likely range from $510 to $525 million. Operating cash flow will likely range from $245 million to $260 million. CenturyTel believes total operating income should be approximately $130 million to $145 million. The company anticipates earnings per share will range from $.34 to $.38 for the quarter. Cash earnings per share will likely range from $.44 to $.48 for the first quarter 2001.

All amounts disclosed above exclude one time items.

Growth Initiatives:

-- CenturyTel believes high-speed access will revolutionize the way people
communicate, conduct their business, and receive their entertainment. The
company's goal is to make DSL available in 70% to 80% of its local exchange
markets excluding the acquired Verizon lines. CenturyTel also plans to deploy
DSL in 50% to 60% of the Verizon markets.

-- CenturyTel is focused on the continued integration of the Verizon access
lines and the deployment of new services such as caller ID, Voice Mail, DSL,
and dial-up Internet access in a number of the newly acquired markets.

-- The company plans to continue to drive incremental revenue streams and grow
its customer base in existing markets.

-- In its wireless markets, CenturyTel will continue to focus on offering
competitive rate plans with the goal of stimulating digital subscriber growth.

-- CenturyTel will continue to look for additional strategic acquisitions and
pursue nonstrategic asset sales where feasible to reduce debt, either of which
could impact our results.

"CenturyTel has an aggressive plan for driving strong long-term growth in our markets," said Glen F. Post III, President and Chief Executive Officer. "Our focus in 2001 is to continue to execute our growth initiatives and lay the foundation for the future. We believe very strongly that the future for CenturyTel lies in owning the high speed data relationship with our customers and expanding into new markets."

In addition to historical information, this release includes forward-looking statements, estimates and projections that are based on current expectations only, and are subject to a number of risks, uncertainties and assumptions, many of which are beyond the control of CenturyTel. Actual events and results may differ materially from those anticipated, estimated or projected if one or more of these risks or uncertainties materialize, or if underlying assumptions prove incorrect. Factors that could affect actual results include but are not limited to: the Company's ability to effectively manage its growth; including integrating newly acquired businesses into our operations; hiring adequate numbers of qualified staff and successfully upgrading our billing and other information systems; the inherent risk of rapid technological change; the effects of on-going changes in the regulation of the Company or the communications industry generally; the effects of greater than anticipated competition in the Company's markets; possible changes in the demand for, or pricing of, the Company's products and services; the Company's ability to successfully introduce new offerings on a timely and cost-effective basis; higher than anticipated interest rates; and the effects of more general factors such as changes in overall market or economic conditions or in legislation, regulation or public policy. These and other uncertainties related to the Company's business are described in greater detail in the Company's Annual Report on Form 10-K for the year ended December 31, 1999. The information contained in this release is as of January 30, 2001. The Company undertakes no obligation to update or revise any of this information whether a result of new information, future events or developments, or otherwise.

CenturyTel's management will be hosting a conference call at 4:00 P.M. Central time to discuss fourth quarter earnings and the outlook for 2001. Investors can access CenturyTel's earnings conference call and replay by accessing the company's Web site at www.centurytel.com

CenturyTel, Inc. provides communications services including local exchange, wireless, long distance, Internet access and data services to nearly three million customers in 21 states. The company, headquartered in Monroe, Louisiana, is publicly traded on the New York Stock Exchange under the symbol CTL. CenturyTel is the 8th largest local exchange telephone company, based on access lines, and the 8th largest cellular company, based on population equivalents owned, in the United States.

Visit CenturyTel's corporate Web site at www.centurytel.com