Rural Network Consolidation

Western Wireless Corp. has announced that it has signed a definitive agreement to acquire the wireless assets of HickoryTech Corp. for US$25 million, subject to working capital and construction in progress adjustments to be determined at closing. The purchase price will be paid in the form of approximately 1 million shares of HickoryTech common stock currently owned by Western Wireless and US$12.8 million in cash.

The licenses to be acquired include the Minnesota 10 Rural Service Area ("MN 10") and the Minneapolis/St. Paul Metro A-2 cellular licenses, as well as the Mankato-Fairmont and Rochester-Austin-Albert Lea Basic Trading Area (BTA) PCS licenses.

"We are very excited about this opportunity to expand our business in Minnesota," said Mikal Thomsen, President of Western Wireless. "We look forward to bringing the quality service that our customers expect to Mankato, Rochester and surrounding communities."

Licensed population in the cellular markets is approximately 425,000. Licensed population in the PCS markets is approximately 500,000. Service is currently marketed predominately within the cellular markets. Western Wireless will acquire about 25,000 subscribers upon completion of the transaction.

The transaction is expected to close during the fourth quarter of 2003 subject to Federal Communications Commission and other required approvals."

Posted to the site on 22nd September 2003