Exhibit 12

TELEPHONE AND DATA SYSTEMS, INC.
RATIOS OF EARNINGS TO FIXED CHARGES
For the Nine Months ended September 30, 2004

(Dollars in Thousands)

EARNINGS:
Income before income taxes and minority interest	$	169,380
Add (Deduct):
Earnings on Equity Method Investments		(52,741	)
Distributions from Unconsolidated Entities		23,718
Minority interests in pre-tax income of subsidiaries that do not have fixed charges		(6,401	)
		133,956
Add fixed charges:
Consolidated interest expense		147,378
Interest Portion (1/3) of Consolidated Rent Expense		20,705
	$	302,039
FIXED CHARGES:
Consolidated interest expense	$	147,378
Interest Portion (1/3) of Consolidated Rent Expense		20,705
	$	168,083
RATIO OF EARNINGS TO FIXED CHARGES		1.80
Tax-Effected Preferred Dividends	$	225
Fixed Charges		168,083
Fixed Charges and Preferred Dividends	$	168,308
RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED DIVIDENDS		1.79