Exhibit 12

TELEPHONE AND DATA SYSTEMS, INC.
RATIOS OF EARNINGS TO FIXED CHARGES
For the Nine Months ended September 30, 2003
(Dollars in Thousands)

EARNINGS:
Income before income taxes and minority interest	$	147,041
Add (Deduct):
Earnings on Equity Method Investments		(37,911	)
Distributions from Minority Subsidiaries		21,685
Minority interests in pre-tax income of subsidiaries that do not have fixed charges		(9,289	)
		121,526
Add fixed charges:
Consolidated interest expense		145,635
Interest Portion (1/3) of Consolidated Rent Expense		20,596
	$	287,757
FIXED CHARGES:
Consolidated interest expense	$	145,635
Interest Portion (1/3) of Consolidated Rent Expense		20,596
	$	166,231
RATIO OF EARNINGS TO FIXED CHARGES		1.73
Tax-Effected Preferred Dividends	$	535
Fixed Charges		166,231
Fixed Charges and Preferred Dividends	$	166,766
RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED DIVIDENDS		1.73