Telephone and Data Systems, Inc. Shareowners’ Information TDS Stock and Dividend Information Dividend Reinvestment Plan Market Price Per Common Share by Quarter Telephone and Data Systems, Inc. Annual Report 2001 68 TDS’s Common Shares are listed on the American Stock Exchange (“AMEX”) under the symbol “TDS” and in the newspapers as “TeleData.” As of February 28, 2002, TDS Common Shares were held by 2,386 record owners and the Series A Common Shares were held by 110 record owners. TDS has paid cash dividends on Common Shares since 1974, and paid dividends of $.54 and $.50 per Common and Series A Common Share during 2001 and 2000, respectively. The Common Shares of United States Cellular Corporation, an 82.2%-owned subsidiary of TDS, are listed on the AMEX under the symbol “USM” and in the newspapers as “US Cellular.” TDS’s Series A Common Shares and Preferred Shares are not actively traded and therefore, quotations are not reported for such securities. Dividends on TDS’s Preferred Shares have been paid quarterly since the dates of issue. The high and low sales prices of the Common Shares on the AMEX as reported by the Dow Jones News Service are as follows. Our dividend reinvestment plan provides our common and  preferred shareholders with a convenient and economical way to participate in the future growth of TDS. Common and  preferred shareholders of record owning ten (10) or more shares may purchase Common Shares with their reinvested dividends at a five percent discount from market price. Shares may also be purchased, at market price, on a monthly basis through optional cash payments of up to $5,000 in any calen- dar quarter. The initial ten (10) shares cannot be purchased directly from TDS. An authorization card and prospectus will be mailed automatically by the transfer agent to all registered record holders with ten (10) or more shares. Once enrolled in the plan, there are no brokerage commissions or service charges for purchases made under the plan. 2001 1st 2nd 3rd 4th High $ 107.20 $ 110.60 $ 111.25 $ 98.90 Low 85.16 89.50 86.60 87.50 Dividends Paid $ .135 $ .135 $ .135 $ .135 2000 1st 2nd 3rd 4th High $ 128.25 $ 114.63 $ 128.50 $ 113.20 Low 93.63 89.75 100.75 80.60 Dividends Paid $ .125 $ .125 $ .125 $ .125