CenturyTel to Achieve Strong Third Quarter Results.

Business Editors & Technology Writers

MONROE, La.--(BUSINESS WIRE)--Oct. 22, 2001

CenturyTel, Inc. (NYSE:CTL) announced today that the company's third quarter financial results will meet and possibly exceed the range of guidance previously provided to the investment community.

CenturyTel had previously provided guidance that third quarter revenues were expected to range from $520 million to $535 million. Guidance for operating cash flow was $250 million to $265 million. Cash earnings per share guidance was $.47 to $.52, and earnings per share guidance was $.37 to $.42 for the third quarter.

CenturyTel will hold its earnings conference call on Tuesday, October 30, at 10:30 a.m. central time.

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, obtaining the necessary regulatory approvals related for acquisitions, 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, 2000.

CenturyTel, Inc. provides communications services including local exchange, wireless, long distance, Internet access and data services to more than 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)