Exhibit 99(b)

ALLTEL Corporation
Supplemental Quarterly Unaudited Pro Forma Selected Financial Information From Current Businesses
for quarterly periods in the years 2006 and 2005
	2006									2005
(In thousands)	Total			2nd Qtr.			1st Qtr.			Total			4th Qtr.			3rd Qtr.			2nd Qtr.			1st Qtr.
Revenues and Sales:
Service revenues	$	3,383,276		$	1,734,128		$	1,649,148		$	6,484,788		$	1,650,538		$	1,702,298		$	1,626,242		$	1,505,710
Product sales		405,189			211,104			194,085			683,813			186,736			184,068			161,831			151,178
Total revenues and sales		3,788,465			1,945,232			1,843,233			7,168,601			1,837,274			1,886,366			1,788,073			1,656,888
Costs and Expenses:
Cost of services		1,118,996			576,212			542,784			2,080,023			544,966			543,005			524,780			467,272
Cost of products sold		556,048			283,351			272,697			1,004,808			281,639			259,896			234,264			229,009
Selling, general, administrative and other		860,205			434,509			425,696			1,649,430			429,931			414,550			407,427			397,522
Depreciation and amortization		516,408			262,588			253,820			998,165			251,934			249,921			253,434			242,876
Total costs and expenses		3,051,657			1,556,660			1,494,997			5,732,426			1,508,470			1,467,372			1,419,905			1,336,679
Operating Income	$	736,808		$	388,572		$	348,236		$	1,436,175		$	328,804		$	418,994		$	368,168		$	320,209
Customers		11,085,145			11,085,145			10,827,065			10,662,324			10,662,324			10,424,710			10,395,818			10,109,480
Average customers		10,838,881			10,951,268			10,731,389			10,309,884			10,507,806			10,400,163			10,358,712			9,985,184
Gross customer additions
Internal		1,576,043			770,589			805,454			3,088,740			837,712			766,834			694,363			789,831
Acquired		112,095			112,095			-			356,847			90,356			-			212,530			53,961
Total		1,688,138			882,684			805,454			3,445,587			928,068			766,834			906,893			843,792
Net customer additions
Internal		310,726			145,985			164,741			424,797			147,258			28,892			73,808			174,839
Acquired		112,095			112,095			-			356,847			90,356			-			212,530			53,961
Total		422,821			258,080			164,741			781,644			237,614			28,892			286,338			228,800
Services revenues	$	3,383,276		$	1,734,128		$	1,649,148		$	6,484,788		$	1,650,538		$	1,702,298		$	1,626,242		$	1,505,710
Less wholesale revenues		332,788			171,435			161,353			695,006			178,938			200,358			174,648			141,062
Retail revenues	$	3,050,488		$	1,562,693		$	1,487,795		$	5,789,782		$	1,471,600		$	1,501,940		$	1,451,594		$	1,364,648
Average revenue per unit		$52.02			$52.78			$51.23			$52.42			$52.36			$54.56			$52.33			$50.26
Retail revenue per unit		$46.91			$47.57			$46.21			$46.80			$46.68			$48.14			$46.71			$45.56
Postpay churn		1.56	%		1.47	%		1.66	%		1.77	%		1.83	%		1.92	%		1.61	%		1.70	%
Total churn		1.95	%		1.91	%		2.00	%		2.16	%		2.20	%		2.37	%		2.00	%		2.06	%

The supplemental unaudited pro forma selected financial information from current businesses presented above gives effect to the spin-off of Alltel's wireline telecommunications

business to its stockholders that was completed on July 17, 2006, as if the spin-off transaction occurred on January 1, 2005. The spin-off included the majority of Alltel's

communications support services, including directory publishing,  information technology outsourcing services, retail long-distanceand the wireline sales portion of

communications products. As a result, Alltel's historical results of operations from current businesses for all periods presented have been adjusted on a pro forma basis to

 reflect the wireline business as a discontinued operation.

The supplemental unaudited pro forma selected financial information from current businesses excludes the results of operations associated with the wireline business and also reflects

the add back to Alltel's continuing operations general corporate overhead expenses previously allocated to the wireline business in accordance with Emerging Issues Task Force

Issue No. 87-24, "Allocation of Interest to Discontinued Operations".  

The supplemental unaudited pro forma selected financial information for the first three quarters of 2005 have been adjusted to include the operating results of Western Wireless

Corporation as if the acquisition had occurred on January 1, 2005.

Current businesses excludes the effects of discontinued operations, amortization expense related to intangible assets recorded in connection with the acquisition of wireless properties,

a special cash dividend received on the Company's investment in Fidelity National Financial, Inc. common stock, gain on the exchange or disposal of assets, debt prepayment

expenses, costs associated with Hurricane Katrina, change in accounting for operating leases and conditional asset retirement obligations, and restructuring and other

charges. 

ALLTEL Corporation
Supplemental Quarterly Unaudited Pro Forma Selected Financial Information From Current Businesses - Page 2
for quarterly periods in the year 2006
	Three Months ended March 31, 2006										Three Months ended June 30, 2006										Six Months ended June 30, 2006
			Pro Forma Adjustments										Pro Forma Adjustments										Pro Forma Adjustments
	Operating					Add Back					Operating					Add Back					Operating					Add Back
	Results		Distribution			of					Results		Distribution			of					Results		Distribution			of
	from		of			Corporate					from		of			Corporate					from		of			Corporate
	Current		Wireline			Overhead					Current		Wireline			Overhead					Current		Wireline			Overhead
(In thousands)	Businesses		Business			Expenses			Pro Forma		Businesses		Business			Expenses			Pro Forma		Businesses		Business			Expenses			Pro Forma
Revenues and Sales:
Service revenues	$	2,247,719	$	(598,571	)		-		$	1,649,148	$	2,334,559	$	(600,431	)		-		$	1,734,128	$	4,582,278	$	(1,199,002	)	$	-		$	3,383,276
Product sales		292,017		(97,932	)		-			194,085		339,112		(128,008	)		-			211,104		631,129		(225,940	)		-			405,189
Total revenues and sales		2,539,736		(696,503	)		-			1,843,233		2,673,671		(728,439	)		-			1,945,232		5,213,407		(1,424,942	)		-			3,788,465
Costs and Expenses:
Cost of services		731,725		(188,941	)		-			542,784		764,570		(188,358	)		-			576,212		1,496,295		(377,299	)		-			1,118,996
Cost of products sold		355,793		(83,096	)		-			272,697		384,669		(101,318	)		-			283,351		740,462		(184,414	)		-			556,048
Selling, general, administrative and other		498,959		(78,370	)		5,107			425,696		510,931		(78,292	)		1,870			434,509		1,009,890		(156,662	)		6,977			860,205
Depreciation and amortization		359,049		(105,229	)		-			253,820		364,922		(102,334	)		-			262,588		723,971		(207,563	)		-			516,408
Total costs and expenses		1,945,526		(455,636	)		5,107			1,494,997		2,025,092		(470,302	)		1,870			1,556,660		3,970,618		(925,938	)		6,977			3,051,657
Operating Income	$	594,210	$	(240,867	)	$	(5,107	)	$	348,236	$	648,579	$	(258,137	)	$	(1,870	)	$	388,572	$	1,242,789	$	(499,004	)	$	(6,977	)	$	736,808

Operating results from current businesses have been reconciled to operating results under GAAP on pages 4 to 6.

ALLTEL Corporation
Supplemental Quarterly Unaudited Pro Forma Selected Financial Information From Current Businesses - Page 3
for quarterly periods in the year 2005
	Three Months ended March 31, 2005												Three Months ended June 30, 2005												Three Months ended September 30, 2005
			Pro Forma Adjustments												Pro Forma Adjustments												Pro Forma Adjustments
	Operating					Add Back							Operating					Add Back							Operating					Add Back
	Results		Distribution			of							Results		Distribution			of							Results		Distribution			of
	from		of			Corporate							from		of			Corporate							from		of			Corporate
	Current		Wireline			Overhead			Western				Current		Wireline			Overhead			Western				Current		Wireline			Overhead			Western
(In thousands)	Businesses		Business			Expenses			Wireless		Pro Forma		Businesses		Business			Expenses			Wireless		Pro Forma		Businesses		Business			Expenses			Wireless		Pro Forma
Revenues and Sales:
Service revenues	$	1,898,262	$	(617,522	)		-		$	224,970	$	1,505,710	$	1,989,264	$	(610,104	)		-		$	247,082	$	1,626,242	$	2,229,370	$	(615,280	)		-		$	88,208	$	1,702,298
Product sales		227,721		(92,137	)		-			15,594		151,178		270,842		(124,051	)		-			15,040		161,831		289,749		(110,860	)		-			5,179		184,068
Total revenues
and sales		2,125,983		(709,659	)		-			240,564		1,656,888		2,260,106		(734,155	)		-			262,122		1,788,073		2,519,119		(726,140	)		-			93,387		1,886,366
Costs and Expenses:
Cost of services		606,469		(200,675	)		-			61,478		467,272		660,945		(205,388	)		-			69,223		524,780		711,423		(195,051	)		-			26,633		543,005
Cost of products sold		281,773		(79,469	)		-			26,705		229,009		308,065		(100,482	)		-			26,681		234,264		343,718		(93,457	)		-			9,635		259,896
Selling, general, administrative and other		407,465		(77,984	)		9,531			58,510		397,522		420,536		(78,811	)		9,055			56,647		407,427		469,068		(82,233	)		10,362			17,353		414,550
Depreciation and amortization		327,440		(129,156	)		-			44,592		242,876		333,626		(127,329	)		-			47,137		253,434		356,616		(122,775	)		-			16,080		249,921
Total costs and
expenses		1,623,147		(487,284	)		9,531			191,285		1,336,679		1,723,172		(512,010	)		9,055			199,688		1,419,905		1,880,825		(493,516	)		10,362			69,701		1,467,372
Operating Income	$	502,836	$	(222,375	)	$	(9,531	)	$	49,279	$	320,209	$	536,934	$	(222,145	)	$	(9,055	)	$	62,434	$	368,168	$	638,294	$	(232,624	)	$	(10,362	)	$	23,686	$	418,994

	Three Months ended December 31, 2005												Twelve Months ended December 31, 2005
			Pro Forma Adjustments												Pro Forma Adjustments
	Operating					Add Back							Operating					Add Back
	Results		Distribution			of							Results		Distribution			of
	from		of			Corporate							from		of			Corporate
	Current		Wireline			Overhead			Western				Current		Wireline			Overhead			Western
(In thousands)	Businesses		Business			Expenses			Wireless		Pro Forma		Businesses		Business			Expenses			Wireless		Pro Forma
Revenues and Sales:
Service revenues	$	2,263,605	$	(613,067	)		-			-	$	1,650,538	$	8,380,501	$	(2,455,973	)	$	-		$	560,260	$	6,484,788
Product sales		318,146		(131,410	)		-			-		186,736		1,106,458		(458,458	)		-			35,813		683,813
Total revenues
and sales		2,581,751		(744,477	)		-			-		1,837,274		9,486,959		(2,914,431	)		-			596,073		7,168,601
Costs and Expenses:
Cost of services		727,351		(182,385	)		-			-		544,966		2,706,188		(783,499	)		-			157,334		2,080,023
Cost of products sold		381,764		(100,125	)		-			-		281,639		1,315,320		(373,533	)		-			63,021		1,004,808
Selling, general, administrative and other		496,549		(79,797	)		13,179			-		429,931		1,793,618		(318,825	)		42,127			132,510		1,649,430
Depreciation and amortization		360,483		(108,549	)		-			-		251,934		1,378,165		(487,809	)		-			107,809		998,165
Total costs and
expenses		1,966,147		(470,856	)		13,179			-		1,508,470		7,193,291		(1,963,666	)		42,127			460,674		5,732,426
Operating Income	$	615,604	$	(273,621	)	$	(13,179	)	$	-	$	328,804	$	2,293,668	$	(950,765	)	$	(42,127	)	$	135,399	$	1,436,175

Operating results from current businesses have been reconciled to operating results under GAAP on pages 7 to 11.

ALLTEL CORPORATION

RECONCILIATION OF RESULTS OF OPERATIONS UNDER GAAP TO RESULTS OF OPERATIONS FROM CURRENT BUSINESSES (NON-GAAP) - Page 4

for the six months ended June 30, 2006

(In thousands, except per share amounts)

	Results of			Items				Results of
	Operations			Excluded from				Operations
	Under			Current				from Current
	GAAP			Businesses				Businesses
Revenues and sales:
Service revenues	$	4,582,278		$	-			$	4,582,278
Product sales		631,129			-				631,129
Total revenues and sales		5,213,407			-				5,213,407
Costs and expenses:
Cost of services		1,494,060			2,235		(B)		1,496,295
Cost of products sold		740,462			-				740,462
Selling, general, administrative and other		1,009,890			-				1,009,890
Depreciation and amortization		816,439			(92,468	)	(A)		723,971
Integration expenses and other charges		31,512			(31,512	)	(C)(E)		-
Total costs and expenses		4,092,363			(121,745	)			3,970,618
Operating income		1,121,044			121,745				1,242,789
Equity earnings in unconsolidated partnerships		28,331			-				28,331
Minority interest in consolidated partnerships		(25,377	)		-				(25,377	)
Other income, net		33,022			-				33,022
Interest expense		(179,597	)		-				(179,597	)
Gain on exchange or disposal of assets and other		176,639			(176,639	)	(D)		-
Income from continuing operations before income taxes		1,154,062			(54,894	)			1,099,168
Income taxes		436,983			(22,690	)	(O)		414,293
Income from continuing operations		717,079			(32,204	)			684,875
Income (loss) from discontinued operations (net of income taxes)		9,231			(9,231	)	(P)		-
Net income		726,310			(41,435	)			684,875
Preferred dividends		42			-				42
Net income applicable to common shares	$	726,268		$	(41,435	)		$	684,833
Basic earnings per share:
Income from continuing operations		$1.85			$(.08	)			$1.77
Income (loss) from discontinued operations		.02			(.02	)			-
Net income		$1.87			$(.10	)			$1.77
Diluted earnings per share:
Income from continuing operations		$1.84			$(.08	)			$1.76
Income (loss) from discontinued operations		.02			(.02	)			-
Net income		$1.86			$(.10	)			$1.76
See Notes to Reconciliations for a description of the items marked (A) - (Q).

ALLTEL CORPORATION

RECONCILIATION OF RESULTS OF OPERATIONS UNDER GAAP TO RESULTS OF OPERATIONS FROM CURRENT BUSINESSES (NON-GAAP) - Page 5

for the three months ended June 30, 2006

(In thousands, except per share amounts)

	Results of			Items				Results of
	Operations			Excluded from				Operations
	Under			Current				from Current
	GAAP			Businesses				Businesses
Revenues and sales:
Service revenues	$	2,334,559		$	-			$	2,334,559
Product sales		339,112			-				339,112
Total revenues and sales		2,673,671			-				2,673,671
Costs and expenses:
Cost of services		762,335			2,235		(B)		764,570
Cost of products sold		384,669			-				384,669
Selling, general, administrative and other		510,931			-				510,931
Depreciation and amortization		411,898			(46,976	)	(A)		364,922
Integration expenses and other charges		11,987			(11,987	)	(C)		-
Total costs and expenses		2,081,820			(56,728	)			2,025,092
Operating income		591,851			56,728				648,579
Equity earnings in unconsolidated partnerships		15,399			-				15,399
Minority interest in consolidated partnerships		(11,482	)		-				(11,482	)
Other income, net		21,140			-				21,140
Interest expense		(90,623	)		-				(90,623	)
Gain on exchange or disposal of assets and other		176,639			(176,639	)	(D)		-
Income from continuing operations before income taxes		702,924			(119,911	)			583,013
Income taxes		265,424			(47,184	)	(O)		218,240
Income from continuing operations		437,500			(72,727	)			364,773
Income (loss) from discontinued operations (net of income taxes)		(8,597	)		8,597		(P)		-
Net income		428,903			(64,130	)			364,773
Preferred dividends		21			-				21
Net income applicable to common shares	$	428,882		$	(64,130	)		$	364,752
Basic earnings per share:
Income from continuing operations		$1.12			$(.18	)			$.94
Income (loss) from discontinued operations		(.02	)		.02				-
Net income		$1.10			$(.16	)			$.94
Diluted earnings per share:
Income from continuing operations		$1.12			$(.19	)			$.93
Income (loss) from discontinued operations		(.02	)		.02				-
Net income		$1.10			$(.17	)			$.93
See Notes to Reconcilations for a description of the items marked (A) - (Q).

ALLTEL CORPORATION

RECONCILIATION OF RESULTS OF OPERATIONS UNDER GAAP TO RESULTS OF OPERATIONS FROM CURRENT BUSINESSES (NON-GAAP) - Page 6

for the three months ended March 31, 2006

(In thousands, except per share amounts)

	Results of			Items				Results of
	Operations			Excluded from				Operations
	Under			Current				from Current
	GAAP			Businesses				Businesses
Revenues and sales:
Service revenues	$	2,247,719		$	-			$	2,247,719
Product sales		292,017			-				292,017
Total revenues and sales		2,539,736			-				2,539,736
Costs and expenses:
Cost of services		731,725			-				731,725
Cost of products sold		355,793			-				355,793
Selling, general, administrative and other		498,959			-				498,959
Depreciation and amortization		404,541			(45,492	)	(A)		359,049
Restructuring and other charges		19,525			(19,525	)	(E)		-
Total costs and expenses		2,010,543			(65,017	)			1,945,526
Operating income		529,193			65,017				594,210
Equity earnings in unconsolidated partnerships		12,932			-				12,932
Minority interest in consolidated partnerships		(13,895	)		-				(13,895	)
Other income, net		11,882			-				11,882
Interest expense		(88,974	)		-				(88,974	)
Gain on exchange or disposal of assets and other		-			-				-
Income from continuing operations before income taxes		451,138			65,017				516,155
Income taxes		171,559			24,494		(O)		196,053
Income from continuing operations		279,579			40,523				320,102
Income from discontinued operations (net of income taxes)		17,828			(17,828	)	(P)		-
Income before cumulative effect of accounting change		297,407			22,695				320,102
Cumulative effect of accounting change (net of income taxes)		-			-				-
Net income		297,407			22,695				320,102
Preferred dividends		21			-				21
Net income applicable to common shares	$	297,386		$	22,695			$	320,081
Basic earnings per share:
Income from continuing operations		$.72			$.11				$.83
Income from discontinued operations		.05			(.05	)			-
Cumulative effect of accounting change		-			-				-
Net income		$.77			$.06				$.83
Diluted earnings per share:
Income from continuing operations		$.72			$.10				$.82
Income from discontinued operations		.05			(.05	)			-
Cumulative effect of accounting change		-			-				-
Net income		$.77			$.05				$.82

See Notes to Reconcilations for a description of the items marked (A)-(Q).

ALLTEL CORPORATION

RECONCILIATION OF RESULTS OF OPERATIONS UNDER GAAP TO RESULTS OF OPERATIONS FROM CURRENT BUSINESSES (NON-GAAP) - Page 7

for the twelve months ended December 31, 2005

(In thousands, except per share amounts)

	Results of			Items				Results of
	Operations			Excluded from				Operations
	Under			Current				from Current
	GAAP			Businesses				Businesses
Revenues and sales:
Service revenues	$	8,380,501		$	-			$	8,380,501
Product sales		1,106,458			-				1,106,458
Total revenues and sales		9,486,959			-				9,486,959
Costs and expenses:
Cost of services		2,743,745			(37,557	)	(F)(I)(M)		2,706,188
Cost of products sold		1,315,320			-				1,315,320
Selling, general, administrative and other		1,795,516			(1,898	)	(I)		1,793,618
Depreciation and amortization		1,482,605			(104,440	)	(A)		1,378,165
Restructuring and other charges		58,717			(58,717	)	(G)(H)(J)		-
Total costs and expenses		7,395,903			(202,612	)			7,193,291
Operating income		2,091,056			202,612				2,293,668
Equity earnings in unconsolidated partnerships		43,383			-				43,383
Minority interest in consolidated partnerships		(69,105	)		-				(69,105	)
Other income, net		158,788			(116,036	)	(I)(N)		42,752
Interest expense		(332,588	)		-				(332,588	)
Gain on exchange or disposal of assets and other		218,830			(218,830	)	(K)(L)		-
Income from continuing operations before income taxes		2,110,364			(132,254	)			1,978,110
Income taxes		801,836			(58,641	)	(O)		743,195
Income from continuing operations		1,308,528			(73,613	)			1,234,915
Income from discontinued operations (net of income taxes)		30,292			(30,292	)	(P)		-
Income before cumulative effect of accounting change		1,338,820			(103,905	)			1,234,915
Cumulative effect of accounting change (net of income taxes)		(7,441	)		7,441		(Q)		-
Net income		1,331,379			(96,464	)			1,234,915
Preferred dividends		93			-				93
Net income applicable to common shares	$	1,331,286		$	(96,464	)		$	1,234,822
Basic earnings per share:
Income from continuing operations		$3.84			$(.22	)			$3.62
Income from discontinued operations		.09			(.09	)			-
Cumulative effect of accounting change		(.02	)		.02				-
Net income		$3.91			$(.29	)			$3.62
Diluted earnings per share:
Income from continuing operations		$3.80			$(.21	)			$3.59
Income from discontinued operations		.09			(.09	)			-
Cumulative effect of accounting change		(.02	)		.02				-
Net income		$3.87			$(.28	)			$3.59

See Notes to Reconcilations for a description of the items marked (A)-(Q).

ALLTEL CORPORATION

RECONCILIATION OF RESULTS OF OPERATIONS UNDER GAAP TO RESULTS OF OPERATIONS FROM CURRENT BUSINESSES (NON-GAAP) - Page 8

for the three months ended December 31, 2005

(In thousands, except per share amounts)

	Results of			Items				Results of
	Operations			Excluded from				Operations
	Under			Current				from Current
	GAAP			Businesses				Businesses
Revenues and sales:
Service revenues	$	2,263,605		$	-			$	2,263,605
Product sales		318,146			-				318,146
Total revenues and sales		2,581,751			-				2,581,751
Costs and expenses:
Cost of services		736,857			(9,506	)	(F)		727,351
Cost of products sold		381,764			-				381,764
Selling, general, administrative and other		496,549			-				496,549
Depreciation and amortization		404,079			(43,596	)	(A)		360,483
Restructuring and other charges		39,844			(39,844	)	(G)(H)		-
Total costs and expenses		2,059,093			(92,946	)			1,966,147
Operating income		522,658			92,946				615,604
Equity earnings in unconsolidated partnerships		6,992			-				6,992
Minority interest in consolidated partnerships		(11,267	)		-				(11,267	)
Other income, net		2,752			-				2,752
Interest expense		(86,134	)		-				(86,134	)
Gain on exchange or disposal of assets and other		-			-				-
Income from continuing operations before income taxes		435,001			92,946				527,947
Income taxes		176,681			24,424		(O)		201,105
Income from continuing operations		258,320			68,522				326,842
Income from discontinued operations (net of income taxes)		4,270			(4,270	)	(P)		-
Income before cumulative effect of accounting change		262,590			64,252				326,842
Cumulative effect of accounting change (net of income taxes)		(7,441	)		7,441		(Q)		-
Net income		255,149			71,693				326,842
Preferred dividends		21			-				21
Net income applicable to common shares	$	255,128		$	71,693			$	326,821
Basic earnings per share:
Income from continuing operations		$.67			$.18				$.85
Income from discontinued operations		.01			(.01	)			-
Cumulative effect of accounting change		(.02	)		.02				-
Net income		$.66			$.19				$.85
Diluted earnings per share:
Income from continuing operations		$.67			$.17				$.84
Income from discontinued operations		.01			(.01	)			-
Cumulative effect of accounting change		(.02	)		.02				-
Net income		$.66			$.18				$.84

See Notes to Reconcilations for a description of the items marked (A)-(Q).

ALLTEL CORPORATION

RECONCILIATION OF RESULTS OF OPERATIONS UNDER GAAP TO RESULTS OF OPERATIONS FROM CURRENT BUSINESSES (NON-GAAP) - Page 9

for the three months ended September 30, 2005

(In thousands, except per share amounts)

	Results of			Items				Results of
	Operations			Excluded from				Operations
	Under			Current				from Current
	GAAP			Businesses				Businesses
Revenues and sales:
Service revenues	$	2,229,370		$	-			$	2,229,370
Product sales		289,749			-				289,749
Total revenues and sales		2,519,119			-				2,519,119
Costs and expenses:
Cost of services		719,683			(8,260	)	(I)		711,423
Cost of products sold		343,718			-				343,718
Selling, general, administrative and other		470,966			(1,898	)	(I)		469,068
Depreciation and amortization		388,989			(32,373	)	(A)		356,616
Restructuring and other charges		18,873			(18,873	)	(J)		-
Total costs and expenses		1,942,229			(61,404	)			1,880,825
Operating income		576,890			61,404				638,294
Equity earnings in unconsolidated partnerships		10,434			-				10,434
Minority interest in consolidated partnerships		(20,573	)		-				(20,573	)
Other income, net		27,325			(5,000	)	(I)		22,325
Interest expense		(83,422	)		-				(83,422	)
Gain on exchange or disposal of assets and other		30,557			(30,557	)	(K)		-
Income from continuing operations before income taxes		541,211			25,847				567,058
Income taxes		206,068			9,784		(O)		215,852
Income from continuing operations		335,143			16,063				351,206
Income from discontinued operations (net of income taxes)		26,022			(26,022	)	(P)		-
Income before cumulative effect of accounting change		361,165			(9,959	)			351,206
Cumulative effect of accounting change (net of income taxes)		-			-				-
Net income		361,165			(9,959	)			351,206
Preferred dividends		24			-				24
Net income applicable to common shares	$	361,141		$	(9,959	)		$	351,182
Basic earnings per share:
Income from continuing operations		$.92			$.05				$.97
Income from discontinued operations		.07			(.07	)			-
Cumulative effect of accounting change		-			-				-
Net income		$.99			$(.02	)			$.97
Diluted earnings per share:
Income from continuing operations		$.91			$.05				$.96
Income from discontinued operations		.07			(.07	)			-
Cumulative effect of accounting change		-			-				-
Net income		$.98			$(.02	)			$.96

See Notes to Reconcilations for a description of the items marked (A)-(Q).

ALLTEL CORPORATION

RECONCILIATION OF RESULTS OF OPERATIONS UNDER GAAP TO RESULTS OF OPERATIONS FROM CURRENT BUSINESSES (NON-GAAP) - Page 10

for the three months ended June 30, 2005

(In thousands, except per share amounts)

	Results of			Items				Results of
	Operations			Excluded from				Operations
	Under			Current				from Current
	GAAP			Businesses				Businesses
Revenues and sales:
Service revenues	$	1,989,264		$	-			$	1,989,264
Product sales		270,842			-				270,842
Total revenues and sales		2,260,106			-				2,260,106
Costs and expenses:
Cost of services		660,945			-				660,945
Cost of products sold		308,065			-				308,065
Selling, general, administrative and other		420,536			-				420,536
Depreciation and amortization		348,320			(14,694	)	(A)		333,626
Restructuring and other charges		-			-				-
Total costs and expenses		1,737,866			(14,694	)			1,723,172
Operating income		522,240			14,694				536,934
Equity earnings in unconsolidated partnerships		15,214			-				15,214
Minority interest in consolidated partnerships		(18,918	)		-				(18,918	)
Other income, net		7,976			-				7,976
Interest expense		(76,343	)		-				(76,343	)
Gain on exchange or disposal of assets and other		188,273			(188,273	)	(L)		-
Income from continuing operations before income taxes		638,442			(173,579	)			464,863
Income taxes		236,381			(64,620	)	(O)		171,761
Income from continuing operations		402,061			(108,959	)			293,102
Income from discontinued operations (net of income taxes)		-			-				-
Income before cumulative effect of accounting change		402,061			(108,959	)			293,102
Cumulative effect of accounting change (net of income taxes)		-			-				-
Net income		402,061			(108,959	)			293,102
Preferred dividends		24			-				24
Net income applicable to common shares	$	402,037		$	(108,959	)		$	293,078
Basic earnings per share:
Income from continuing operations		$1.28			$(.35	)			$.93
Income from discontinued operations		-			-				-
Cumulative effect of accounting change		-			-				-
Net income		$1.28			$(.35	)			$.93
Diluted earnings per share:
Income from continuing operations		$1.27			$(.34	)			$.93
Income from discontinued operations		-			-				-
Cumulative effect of accounting change		-			-				-
Net income		$1.27			$(.34	)			$.93

See Notes to Reconcilations for a description of the items marked (A)-(Q).

ALLTEL CORPORATION

RECONCILIATION OF RESULTS OF OPERATIONS UNDER GAAP TO RESULTS OF OPERATIONS FROM CURRENT BUSINESSES (NON-GAAP) - Page 11

for the three months ended March 31, 2005

(In thousands, except per share amounts)

	Results of			Items				Results of
	Operations			Excluded from				Operations
	Under			Current				from Current
	GAAP			Businesses				Businesses
Revenues and sales:
Service revenues	$	1,898,262		$	-			$	1,898,262
Product sales		227,721			-				227,721
Total revenues and sales		2,125,983			-				2,125,983
Costs and expenses:
Cost of services		626,260			(19,791	)	(M)		606,469
Cost of products sold		281,773			-				281,773
Selling, general, administrative and other		407,465			-				407,465
Depreciation and amortization		341,217			(13,777	)	(A)		327,440
Restructuring and other charges		-			-				-
Total costs and expenses		1,656,715			(33,568	)			1,623,147
Operating income		469,268			33,568				502,836
Equity earnings in unconsolidated partnerships		10,743			-				10,743
Minority interest in consolidated partnerships		(18,347	)		-				(18,347	)
Other income, net		120,735			(111,036	)	(N)		9,699
Interest expense		(86,689	)		-				(86,689	)
Gain on exchange or disposal of assets and other		-			-				-
Income from continuing operations before income taxes		495,710			(77,468	)			418,242
Income taxes		182,706			(28,229	)	(O)		154,477
Income from continuing operations		313,004			(49,239	)			263,765
Income from discontinued operations (net of income taxes)		-			-				-
Income before cumulative effect of accounting change		313,004			(49,239	)			263,765
Cumulative effect of accounting change (net of income taxes)		-			-				-
Net income		313,004			(49,239	)			263,765
Preferred dividends		24			-				24
Net income applicable to common shares	$	312,980		$	(49,239	)		$	263,741
Basic earnings per share:
Income from continuing operations		$1.04			$(.17	)			$.87
Income from discontinued operations		-			-				-
Cumulative effect of accounting change		-			-				-
Net income		$1.04			$(.17	)			$.87
Diluted earnings per share:
Income from continuing operations		$1.03			$(.16	)			$.87
Income from discontinued operations		-			-				-
Cumulative effect of accounting change		-			-				-
Net income		$1.03			$(.16	)			$.87

See Notes to Reconcilations for a description of the items marked (A)-(Q).

ALLTEL CORPORATION
NOTES TO RECONCILIATIONS OF RESULTS OF OPERATIONS UNDER GAAP TO RESULTS OF OPERATIONS FROM CURRENT BUSINESSES (NON-GAAP) - Page 12
	As the Company evaluates segment performance based on segment income, which is computed as revenues and sales less operating expenses, the special cash dividend, gain on the exchange or disposal of assets, debt prepayment expenses, costs associated with Hurricane Katrina, the effects of the change in accounting for operating leases and conditional asset retirement obligations and restructuring and other charges have not been allocated to the business segments. Wireless segment income also excludes amortization expense related to acquired intangible assets. In addition, none of the non-operating items such as equity earnings in unconsolidated partnerships, minority interest expense, other income, net, interest expense and income taxes have been allocated to the segments.
(A)	Eliminates the effects of amortization expense related to intangible assets recorded in connection with the acquisition of wireless properties.
(B)	The Company recorded a $2.2 million reduction in its allowance for doubtful accounts to reflect lower than expected write-offs from service interruptions and customer displacement attributable to the effects of Hurricane Katrina. The additional bad debt expense was originally recorded in the third quarter of 2005.
(C)	On December 9, 2005, Alltel announced that it would spin off its wireline telecommunications business to its stockholders and merge it with Valor Communications Group, Inc (“Valor”). In connection with the spin-off and merger, Alltel incurred $12.0 million of incremental costs primarily consisting of employee benefit costs, consulting and legal fees.
(D)	During 2005, federal legislation was enacted which included provisions to dissolve and liquidate the assets of the Rural Telephone Bank (“RTB”). In connection with the dissolution and liquidation, during April 2006, the RTB redeemed all outstanding shares of its Class C stock. As a result, Alltel received liquidating cash distributions of $198.7 million in exchange for its $22.1 million investment in RTB Class C stock.
(E)	The Company incurred $10.8 million of integration expenses related to its acquisition completed on August 1, 2005 of Western Wireless Corporation (“Western Wireless”). These expenses consisted of $8.3 million of rebranding costs and $2.5 million of system conversion costs and other integration costs. In connection with the spin-off spin off its wireline telecommunications business and merger with Valor, Alltel incurred $8.7 million of incremental costs consisting of employee benefit costs, consulting and legal fees.
(F)	Alltel incurred $9.5 million of incremental costs related to Hurricane Katrina consisting of increased system maintenance costs to restore network facilities and additional losses from bad debts. (See Note I).
(G)	The Company incurred $2.1 million of integration expenses related to its acquisition of Western Wireless. These expenses primarily consisted of system conversion costs. In addition, Alltel incurred $5.0 million of integration expenses related to the exchange of certain wireless assets with Cingular Wireless LLC (“Cingular”) completed during the second and third quarters of 2005. The Company also incurred $1.6 million of integration expenses related to its acquisition of Public Service Cellular Inc. (“PS Cellular”) completed on February 28, 2005. The integration expenses related to the Cingular and PS Cellular acquisitions consisted of handset subsidies incurred to migrate the acquired customer base to CDMA handsets. The Company also recorded a $0.2 million reduction in the liabilities associated with the wireline restructuring activities initiated during the third quarter of 2005. (See Note J).
(H)	In connection with the spin-off of its wireline business and merger with Valor, Alltel incurred $31.3 million of incremental costs principally consisting of investment banker, audit and legal fees.
(I)	Alltel incurred $10.2 million of incremental costs related to Hurricane Katrina consisting of increased long distance and roaming expenses due to providing these services to affected customers at no charge, system maintenance costs to restore network facilities and additional losses from bad debts. These incremental costs also included Company donations to support the hurricane relief efforts. These incremental expenses were partially offset by $5.0 million of insurance proceeds received to date by Alltel.

ALLTEL CORPORATION
NOTES TO RECONCILIATIONS OF RESULTS OF OPERATIONS UNDER GAAP TO RESULTS OF OPERATIONS FROM CURRENT BUSINESSES (NON-GAAP)-Page 13
(J)	The Company incurred $2.4 million of integration expenses related to its acquisition of Western Wireless. These expenses primarily consisted of system conversion and relocation costs. In addition, the Company incurred $11.9 million of integration expenses related to the exchange of certain wireless assets with Cingular completed during the second and third quarters of 2005. These expenses consisted of handset subsidies incurred to migrate the acquired customer base to CDMA handsets. The Company also incurred $4.6 million in restructuring charges associated with its wireline operations. These charges consisted of severance and employee benefit costs related to a planned workforce reduction.
(K)	Primarily due to certain minority partners' right-of-first-refusal, three of the wireless partnership interests to be exchanged between Alltel and Cingular, as discussed in Note L below, were not completed until July 29, 2005. As a result of completing the exchange transaction, Alltel recorded an additional pretax gain of $30.5 million.
(L)	On April 15, 2005, Alltel and Cingular completed the exchange of certain wireless assets. In connection with this transaction, Alltel recorded a pretax gain of $127.5 million. On April 6, 2005, Alltel recorded a pretax gain of $75.8 million from the sale of all of its shares of Fidelity National Financial, Inc. (“Fidelity National”) common stock. On April 8, 2005, Alltel retired all of its issued and outstanding 7.50 percent senior notes due March 1, 2006, representing an aggregate principal amount of $450.0 million. Concurrent with the debt retirement, Alltel also terminated the related pay variable/receive fixed, interest rate swap agreement that had been designated as a fair value hedge against the $450.0 million senior notes. In connection with the early termination of the debt and interest rate swap agreement, Alltel incurred net pretax termination fees of approximately $15.0 million.
(M)	Effective January 1, 2005, Alltel changed its accounting for operating leases with scheduled rent increases. Certain of the Company’s operating lease agreements for cell sites and for office and retail locations include scheduled rent escalations during the initial lease term and/or during succeeding optional renewal periods. Previously, the Company had not recognized the scheduled increases in rent expense on a straight-line basis in accordance with the provisions of Statement of Financial Accounting Standards (“SFAS”) No. 13, “Accounting for Leases” and Financial Accounting Standards Board (“FASB”) Technical Bulletin No. 85-3, “Accounting for Operating Leases with Scheduled Rent Increases”. The effects of this change, which are included in corporate expenses, were not material to the Company’s previously reported consolidated results of operations, financial position or cash flows.
(N)	On March 9, 2005, Fidelity National declared a special $10 per share cash dividend to Fidelity National stockholders. The special cash dividend was received by Alltel on March 28, 2005.
(O)	Tax-related effects of the items discussed in the Notes A - P above.
(P)	Eliminates the effects of discontinued operations. On August 1, 2005, Alltel completed its acquisition of Western Wireless. As a condition of receiving approval for the acquisition from the Department of Justice and the Federal Communications Commission, Alltel agreed to divest certain wireless operations of Western Wireless in 16 markets in Arkansas, Kansas and Nebraska. In December 2005, Alltel completed an exchange of wireless properties with United States Cellular Corporation that included a substantial portion of the divestiture requirements related to the merger. In the first quarter of 2006, Alltel completed the required divestitures with the sale of the remaining property in Arkansas. During 2005, the Company completed the sale of international operations acquired from Western Wireless in Georgia, Ghana and Ireland. During the second quarter of 2006, Alltel completed the sales of the remaining international operations acquired from Western Wireless in Austria, Bolivia, Cote d'Ivoire, Haiti and Solvenia. As a result the acquired international operations and interests of Western Wireless and the 16 markets to be divested in Arkansas, Kansas and Nebraska have been classified as discontinued operations in the accompanying consolidated financial statements.

ALLTEL CORPORATION
NOTES TO RECONCILIATIONS OF RESULTS OF OPERATIONS UNDER GAAP TO RESULTS OF OPERATIONS FROM CURRENT BUSINESSES (NON-GAAP)-Page 14
(Q)	Represents the cumulative effect of the change in accounting principle resulting from the Company’s adoption of FASB Interpretation No. 47, “Accounting for Conditional Asset Retirement Obligations” (“FIN 47”). The Company evaluated the effects of FIN 47 on its operations and determined that, for certain buildings containing asbestos, Alltel is legally obligated to remediate the asbestos if the Company were to abandon, sell or otherwise dispose of the buildings. In addition, for its acquired Kentucky and Nebraska wireline operations not subject to SFAS No. 71, “Accounting for the Effects of Certain Types of Regulation”, the Company is legally obligated to properly dispose of its chemically-treated telephone poles at the time they are removed from service. In accordance with federal and state regulations, depreciation expense for the Company’s wireline operations that follow the accounting prescribed by SFAS No. 71 have historically included an additional provision for cost of removal, and accordingly, the adoption of FIN 47 had no impact to these operations.