X0202 4 2007-08-17 0 0001328571 NTELOS HOLDINGS CORP NTLS 0001281082 QUADRANGLE GP INVESTORS LLC 375 PARK AVENUE 14TH FLOOR NEW YORK NY 10152 0 0 1 0 0001271784 QUADRANGLE GP INVESTORS LP 375 PARK AVEUNE 14TH FLOOR NEW YORK NY 10152 0 0 1 0 0001281078 QUADRANGLE CAPITAL PARTNERS A LP 375 PARK AVENUE 14TH FLOOR NEW YORK NY 10152 0 0 1 0 0001122313 QUADRANGLE SELECT PARTNERS LP 375 PARK AVENUE 14TH FLOOR NEW YORK NY 10152 0 0 1 0 0001122322 QUADRANGLE CAPITAL PARTNERS LP 375 PARK AVE 14TH FL NEW YORK NY 10152 0 0 1 0 Common Stock, par value $0.01 per share 2007-08-17 4 J 0 160000 0 D 5777880 I See Footnotes On August 17, 2007, Quadrangle Capital Partners LP, Quadrangle Select Partners LP and Quadrangle Capital Partners-A LP (collectively, the "Quadrangle Funds") made distributions without payment of consideration of 160,000 shares of Common Stock of NTELOS Holdings Corp. ("Shares"), in the aggregate, to Quadrangle GP Investors LP, which is the general partner of each of the Quadrangle Funds. Immediately thereafter, Quadrangle GP Investors LP made a further distribution without payment of consideration of the Shares to Quadrangle GP Investors LLC, its general partner. These distributions completed a pro rata distribution to all partners of the Quadrangle Funds, consisting of both in-kind distributions of the Shares and previous distributions of the cash proceeds from the sale of Shares previously reported in April, 2007. [continued in Footnote 2] [Footnote 1 continued] Immediately after these distributions, Quadrangle GP Investors LLC made a pro rata distribution without payment of consideration of the Shares to its members, for further transfers to charitable organizations. Includes 4,023,696 Shares currently held by Quadrangle Capital Partners LP, 219,857 Shares currently held by Quadrangle Select Partners LP and 1,534,327 Shares currently held by Quadrangle Capital Partners-A LP. Quadrangle GP Investors LLC is the general partner of Quadrangle GP Investors LP, which is the general partner of each of the Quadrangle Funds. Each of the Reporting Persons named above disclaims beneficial ownership of the Shares reported herein that are beneficially owned by each of the Quadrangle Funds, except to the extent of each of their pecuniary interest therein. Michael Huber, Managing Member 2007-08-21