[ALAMOSA LOGO]                                                       New Release


CONTACT:  JON D. DRAKE
          DIRECTOR OF INVESTOR RELATIONS
          ALAMOSA HOLDINGS, INC.
          806-722-1455
          jdrake@alamosapcs.com


                         ALAMOSA TO PURSUE DEBT OFFERING

LUBBOCK, TEXAS, JANUARY 5, 2004 -- Alamosa Holdings, Inc. (OTC Bulletin Board:
ALMO) today announced that Alamosa (Delaware), Inc., its wholly owned
subsidiary, presently intends to offer $225 million in aggregate principal
amount of its senior unsecured debt securities due 2012 in a transaction exempt
from the registration requirements of the Securities Act of 1933, as amended.

If Alamosa completes the offering, the net proceeds will be used to permanently
repay and terminate Alamosa's senior secured credit facility and for general
corporate purposes. Approximately $200 million in borrowings is currently
outstanding under this credit facility. No assurance can be given that the
offering will be completed, and the offering is subject to market and other
customary conditions. The securities offered by Alamosa will not be registered
under the Securities Act and may not be offered or sold in the United States
without registration or an applicable exemption from the registration
requirements.

ABOUT ALAMOSA

Alamosa Holdings, Inc. is the largest (based on number of subscribers) PCS
Affiliate of Sprint (NYSE: FON, PCS), which operates the largest all-digital,
all-CDMA Third-Generation (3G) wireless network in the United States. Alamosa
has the exclusive right to provide digital wireless mobile communications
network services under the Sprint brand name throughout its designated territory
located in Texas, New Mexico, Oklahoma, Arizona, Colorado, Utah, Wisconsin,
Minnesota, Missouri, Washington, Oregon,


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ALAMOSA TO PURSUE DEBT OFFERING
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January 5, 2004


Arkansas, Kansas, Illinois and California. Alamosa's territory includes licensed
population of 15.8 million residents.

ABOUT SPRINT

Sprint is a global integrated communications provider serving more than 26
million customers in over 100 countries. With approximately 68,000 employees
worldwide and nearly $27 billion in annual revenues, Sprint is widely recognized
for developing, engineering and deploying state-of-the-art network technologies,
including the United States' first nationwide all-digital, fiber-optic network
and an award-winning Tier 1 Internet backbone. Sprint provides local
communications services in 39 states and the District of Columbia and operates
the largest 100-percent digital, nationwide PCS wireless network in the United
States. For more information, visit www.sprint.com.

FORWARD LOOKING STATEMENTS

Statements contained in this news release that are forward-looking statements,
such as statements containing terms such as can, may, will, expect, plan, and
similar terms, are subject to various risks and uncertainties. Such
forward-looking statements are made pursuant to the "safe-harbor" provisions of
the private Securities Litigation Reform Act of 1995 and are made based on
management's current expectations or beliefs as well as assumptions made by, and
information currently available to, management. A variety of factors could cause
actual results to differ materially from those anticipated in Alamosa's
forward-looking statements, including the following factors: Alamosa's
dependence on its affiliation with Sprint; shifts in populations or network
focus; changes or advances in technology; changes in Sprint's national service
plans or fee structure with us; change in population; difficulties in network
construction; increased competition in our markets; adverse changes in financial
position, condition or results of operations. For a detailed discussion of these
and other cautionary statements and factors that could cause actual results to
differ from Alamosa's forward-looking statements, please refer to Alamosa's
filings with the Securities and Exchange Commission, especially in the "risk
factors" sections of Alamosa's Annual Report on Form 10-K for the year ended
December 31,



ALAMOSA TO PURSUE DEBT OFFERING
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January 5, 2004


2002 and in subsequent filings with the Securities and Exchange Commission.
Investors and analysts should not place undue reliance on forward-looking
statements.


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