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ALLTEL TO PURCHASE CONTEL CELLULAR ARKANSAS PROPERTIES

 ALLTEL TO PURCHASE CONTEL CELLULAR ARKANSAS PROPERTIES
 LITTLE ROCK, Ark., Oct. 29 /PRNewswire/ -- ALLTEL Corporation


(NYSE: AT) announced today that its ALLTEL Mobile Communications, Inc. subsidiary has signed a letter of intent to acquire all the outstanding stock of Contel Cellular of Arkansas, Inc. for cash or a combination of cash and other cellular interests.
 Under terms of the agreement, ALLTEL would gain operating control of the Fayetteville and Fort Smith, Ark., Metropolitan Statistical Area markets, as well as Arkansas Rural Service Areas (RSAs) No. 1 and No. 8 and Oklahoma RSA No. 4.
 The transaction is subject to execution of a definitive agreement and regulatory approvals.
 ALLTEL Mobile's Arkansas operations currently own a total of 690,000 "pops" in the state. A "pop" represents the total market population times percent ownership. The acquisition of Contel's Arkansas operations would add another 496,000 "pops." Combined, these markets have a total population of nearly 2 million.
 Contel Cellular (NASDAQ: CCXLA) is a publicly traded company, of which 90 percent of the outstanding shares are indirectly owned by GTE Corp. (NYSE: GTE).
 ALLTEL Mobile Communications, Inc., a wholly owned subsidiary of ALLTEL Corporation, operates or has investments in cellular telephone and paging systems in the south, midwest, and northeast regions of the United States, and is headquartered in Little Rock.
 ALLTEL Corporation (NYSE: AT) provides telephone service to more than 1.2 million customers in 25 states and has subsidiaries or investments in companies that provide cellular telephone, long-distance and information services, communications products and other related services.
 -0- 10/29/92
 /CONTACT: Ron Payne, vice president-corporate communications of ALLTEL Corp., 501-661-8989/
 (AT) CO: ALLTEL Corporation; Contel Cellular of Arkansas, Inc. ST: Arkansas IN: TLS SU: TNM


KK -- CL016 -- 6555 10/29/92 12:00 EST
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Publication:PR Newswire
Date:Oct 29, 1992
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