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Peter L. Sereda Promoted to Senior Vice President-Finance and Treasurer

05/23/2011

CHICAGO, May 23, 2011 /PRNewswire via COMTEX/ -- Telephone and Data Systems, Inc. (NYSE: TDS, TDS.S) today announced that the company has promoted Peter L. Sereda to the position of senior vice president-finance and treasurer, effective May 19, 2011.

Sereda joined TDS in 1998 as vice president and treasurer, and has since managed financing, cash and investments, commercial and investment bank relationships, and risk and pension assets for TDS and its business units, U.S. Cellular and TDS Telecom. His new role adds responsibility for budgeting, planning and analysis.

"Peter Sereda is an important member of TDS' senior management team and a key leader in our finance organization," said Kenneth R. Meyers, TDS executive vice president and CFO. "Under Peter's guidance and management, TDS has maintained a strong financial foundation that provides a great degree of flexibility and stability to our businesses."

Sereda holds an MBA in finance and statistics from the University of Chicago Graduate School of Business, and a BS in civil engineering and economics from the Massachusetts Institute of Technology. He is a member of the National Association of Corporate Treasurers, and of Beta Gamma Sigma, the international honor society serving business programs.

About TDS

Telephone and Data Systems, Inc. (TDS), a Fortune 500® company, provides wireless, local and long-distance telephone, and broadband services to approximately 7.1 million customers in 36 states through its business units, U.S. Cellular (wireless) and TDS Telecom (wireline). Founded in 1969 and headquartered in Chicago, TDS employed 12,100 people as of March 31, 2011.

Visit http://www.teldta.com/ for comprehensive financial information, including earnings releases, quarterly and annual filings, shareholder information, and more. Find us at facebook.com/telephoneanddatasystems and follow us at twitter.com/tdscorporate.

For more information about our subsidiaries, visit their websites at:

U.S. Cellular: www.uscellular.com

TDS Telecom: www.tdstelecom.com

SOURCE Telephone and Data Systems, Inc.

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