Exhibit 99.1

Contact:		Mark A. Steinkrauss, Vice President, Corporate Relations
		(312) 592-5384 mark.steinkrauss@teldta.com

		Julie D. Mathews, Manager, Investor Relations
		(312) 592-5341 julie.mathews@teldta.com

FOR RELEASE: IMMEDIATE

U.S. CELLULAR REPORTS THIRD QUARTER 2006 RESULTS
Completes restatement of prior period results; reports year-end 2006 net adds

CHICAGO – Feb. 23, 2007 - United States Cellular Corporation [AMEX:USM] reported service revenues of $821.8 million for the third quarter of 2006, up 13 percent from $729 million, as restated, for the comparable period one year ago. The company recorded operating income of $77.3 million during the quarter, up 22 percent compared to $63.3 million, as restated, for the third quarter of 2005. Net income and diluted earnings per share were $35.9 million and $0.41, respectively, compared to net income and diluted earnings per share of $23.7 million and $0.27, respectively, as restated, for the comparable period one year ago.

U.S. Cellular also completed the restatement of prior period results announced on Nov. 6, 2006, which included each of the years ended Dec. 31, 2002 – 2005, quarterly information for 2004 and 2005, and the first and second quarters of 2006. The restatement was required primarily to correct the accounting for prepaid forward contracts under Statement of Financial Accounting Standards (SFAS) No. 133, Accounting for Derivative Instruments and Hedging Activities. The company will file its Form 10-K/A for 2005, its Forms 10-Q/A for the first and second quarters of 2006, and its Form 10-Q for the third quarter of 2006, with the Securities and Exchange Commission later today.

Third Quarter Highlights

· The total number customers increased 8 percent year over year to 5,729,000. The number of retail customers increased 8 percent to 5,127,000.

· Average monthly revenue per unit (ARPU) increased 4 percent to $47.93.

· Data revenues increased 74 percent to $56.7 million.

· The company recorded a postpay churn rate of 1.6 percent.

· An investment in the Los Angeles Standard Metropolitan Statistical Area Limited Partnership contributed $16 million to equity in earnings of unconsolidated entities.

· At an Extraordinary General Meeting held on July 25, 2006, Vodafone approved a share consolidation in which 8 American Depository Receipts (“ADRs”) were consolidated into 7 ADRs and a return of capital (“Special Distribution”). U.S. Cellular received approximately $28.6 million from the Special Distribution and recorded it as a return of capital.

· The company recorded a loss in fair value adjustment of derivative instruments of $21.3 million related to accounting for prepaid forward contracts.

“Thanks to our intense focus on customer satisfaction, U.S. Cellular had a strong third quarter financially,” said John E. Rooney, U.S. Cellular’s president and chief executive officer. “We increased

service revenues, drove a dramatic increase in data revenues and improved profitability. Also contributing to these results are recently launched calling plans designed to better meet the needs of our customers.

“Postpay customers are a cornerstone of U.S. Cellular’s customer satisfaction strategy,” continued Rooney. “They generate higher lifetime revenue than prepaid or wholesale customers. Postpay customers also provide a steady and predictable revenue stream for more than five years on average, and benefit the most from and put a significant value on U.S. Cellular’s promise of customer satisfaction. This strategy resulted in postpay net customer additions of 40,000 in the third quarter. Retail net customer additions, which includes both postpay and prepaid customer adds, were 28,000 in the third quarter due to a decline in the number of prepaid customers.

“Network quality is key to ensuring outstanding customer service. For the twelve months ended Sept. 30, the company put in place 577 new cell sites, an increase of 11 percent. At the same time, our customer base grew 8 percent and minutes of use grew 13 percent. It is the company’s focus on improved profitability that has controlled network costs, limiting system operations expense growth to only 3.6 percent, year over year,” he concluded.

Year-end 2006 Update

	12/31/06	12/31/05
Postpay customer additions	283,000	291,000
Prepaid customer additions	14,000	120,000
Total net retail customer additions *	297,000	411,000
Wholesale customer additions	13,000	66,000
Total customer additions	310,000	477,000

* U.S. Cellular issues guidance on net retail customer additions.

Certain financial and statistical information will be posted to the U.S. Cellular web site, together with reconciliations to generally accepted accounting principles (GAAP) of certain non-GAAP disclosures. Investors may access this additional information on the Investor Relations section of the U.S. Cellular web site.

About U.S. Cellular

As of Sept. 30, 2006, U.S. Cellular Corporation, the nation's sixth-largest wireless service carrier, employed 8,000 people and provided wireless service to 5.7 million customers in 26 states. The Chicago-based company operates on a customer satisfaction strategy, meeting customer needs by providing a comprehensive range of wireless products and services, superior customer support, and a high-quality network.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: All information set forth in this news release, except historical and factual information, represents forward-looking statements. This includes all statements about the company’s plans, beliefs, estimates and expectations. These statements are based on current estimates and projections, which involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Important factors that may affect these forward-looking statements include, but are not limited to: The ability of the company to successfully manage and grow the operations of the Chicago MTA and newly launched markets; changes in competition in the markets in which the company operates; changes in the overall economy; changes due to industry consolidation; advances in telecommunications technology; changes in the telecommunications regulatory environment; changes in the value of assets; changes in the value of investments,

including variable prepaid forward contracts; an adverse change in the ratings afforded our debt securities by accredited ratings organizations; risks and uncertainties relating to restatements and possible future restatements; pending and future litigation; acquisitions/divestitures of properties and/or licenses; and changes in customer growth rates, average monthly revenue per unit, churn rates, roaming rates and the mix of products and services offered in the company’s markets. Investors are encouraged to consider these and other risks and uncertainties that are discussed in the Form 8-K used by U.S. Cellular to furnish this press release to the SEC, which are incorporated by reference herein.

For more information about U.S. Cellular, visit: www.uscellular.com.

###

UNITED STATES CELLULAR CORPORATION

SUMMARY OPERATING DATA

Quarter Ended	9/30/2006			6/30/2006			3/31/2006			12/31/2005			9/30/2005

Consolidated Markets:
Total population (000s) (1)	55,543			55,543			55,164			45,244			44,690
All customers -
Customer units	5,729,000			5,704,000			5,633,000			5,482,000			5,303,000
Gross customer unit activations	365,000			347,000			434,000			419,000			355,000
Net customer unit activations	25,000			48,000			151,000			125,000			76,000
Market penetration (1)	10.31		%	10.27		%	10.21		%	12.12		%	11.87		%
Retail customers -
Customer units	5,127,000			5,099,000			5,029,000			4,927,000			4,765,000
Gross customer unit activations	353,000			331,000			380,000			392,000			346,000
Net customer unit activations	28,000			49,000			122,000			130,000			77,000

Cell sites in service	5,726			5,583			5,438			5,428			5,149
Average monthly revenue per unit (2)	$	47.93		$	46.54		$	46.17		$	45.88		$	46.16
Retail service revenue per unit (2)	$	41.65		$	40.84		$	40.70		$	40.13		$	40.22
Inbound roaming revenue per unit (2)	$	2.55		$	2.28		$	2.12		$	2.31		$	2.70
Long-distance/other revenue per unit (2)	$	3.73		$	3.42		$	3.35		$	3.44		$	3.24
Minutes of use (MOU) (3)	725			719			658			648			639
Postpay churn rate per month (4)	1.6		%	1.5		%	1.5		%	1.6		%	1.5		%
Marketing cost per gross
customer unit addition (5)	$	496		$	503		$	412		$	501		$	491
Construction Expenditures (000s)	$	152,800		$	151,400		$	117,200		$	197,400		$	125,600

(1) Market penetration is calculated using 2005 Claritas population estimates for all periods of 2006 and 2004 Claritas estimates for all periods of 2005. “Total population” represents the total population of each of U.S. Cellular’s consolidated markets, regardless of whether the market has begun marketing operations. The 9/30/06, 6/30/06 and 3/31/06 total population count includes the markets acquired in January 2006 by Carroll Wireless, L.P., a consolidated U.S. Cellular subsidiary, representing the licensed areas for which Carroll Wireless L.P. was the winning bidder in the Federal Communications Commission’s Auction 58 that concluded in February 2005. The 9/30/06, 6/30/06, 3/31/06 and 12/31/05 total population counts include the population of the 15 markets acquired from ALLTEL in December 2005, and exclude the population of the two markets transferred to ALLTEL in the same transaction. The population of markets in which U.S. Cellular has deferred the transfer of licenses from AT&T Wireless (now Cingular Wireless) are not included in the total population counts for any period.

(2) Per unit revenue measurements are derived from Service Revenues as reported in Financial Highlights for each respective
quarter as follows:
Service Revenues per Financial Highlights	$	821,820		$	791,705		$	769,222		$	737,790		$	729,005
Components:
Retail service revenue during quarter	$	714,270		$	694,712		$	678,110		$	645,286		$	635,111
Inbound roaming revenue during quarter	$	43,806		$	38,745		$	35,344		$	37,184		$	42,654
Long-distance/other revenue during quarter	$	63,744		$	58,248		$	55,768		$	55,320		$	51,240

Divided by average customers during quarter (000s)	5,716			5,670			5,554			5,360			5,264
Divided by three months in each quarter	3			3			3			3			3

Average monthly revenue per unit	$	47.93		$	46.54		$	46.17		$	45.88		$	46.16
Retail service revenue per unit	$	41.65		$	40.84		$	40.70		$	40.13		$	40.22
Inbound roaming revenue per unit	$	2.55		$	2.28		$	2.12		$	2.31		$	2.70
Long-distance/other revenue per unit	$	3.73		$	3.42		$	3.35		$	3.44		$	3.24

(3) Average monthly local minutes of use per customer (without roaming).

(4) Postpay churn rate per month is calculated by dividing the average monthly postpay customer disconnects during the quarter by the average postpay customer base for the quarter.

(5) This measurement is not calculable using information from the financial statements as reported. The details of this calculation and a reconciliation to line items reported in Financial Highlights for each respective quarter are shown on U.S. Cellular’s web site, along with additional information related to U.S. Cellular’s third quarter results, at www.uscellular.com.

UNITED STATES CELLULAR CORPORATION

FINANCIAL HIGHLIGHTS

Three Months Ended September 30,

(Unaudited, dollars in thousands, except per share amounts)

				2005			Increase (Decrease)
	2006			(as restated)			Amount			Percent
Operating Revenues
Service	$	821,820		$	729,005		$	92,815		12.7	%
Equipment sales	66,703			66,095			608			N/M
Total Operating Revenues	888,523			795,100			93,423			11.7	%
Operating Expenses
System operations (excluding depreciation shown below)	165,107			159,335			5,772			3.6	%
Cost of equipment sold	140,757			130,823			9,934			7.6	%
Selling, general and administrative	358,392			313,374			45,018			14.4	%
Depreciation, amortization and accretion	146,940			128,238			18,702			14.6	%
Total Operating Expenses	811,196			731,770			79,426			10.9	%

Operating Income	77,327			63,330			13,997			22.1	%

Investment and Other Income (Expense)
Equity in earnings of unconsolidated entities	23,483			17,416			6,067			34.8	%
Interest and dividend income	601			384			217			56.5	%
Interest (expense)	(23,974		)	(21,122		)	(2,852		)	(13.5	%)
Fair value adjustment of derivative instruments	(21,285		)	(14,241		)	(7,044		)	(49.5	%)
Other (expense)	(225		)	(691		)	466			67.4	%
	(21,400		)	(18,254		)	(3,146		)	(17.2	%)
Income Before Income Taxes and Minority Interest	55,927			45,076			10,851			24.1	%
Income tax expense	15,510			17,966			(2,456		)	(13.7	%)
Income Before Minority Interest	40,417			27,110			13,307			49.1	%
Minority share of income	(4,542		)	(3,438		)	(1,104		)	(32.1	%)
Net Income	$	35,875		$	23,672		$	12,203		51.6	%

Basic Weighted Average Common Shares Outstanding (000s)	87,281			86,904			377			N/M
Basic Earnings Per Share	$	0.41		$	0.27		$	0.14		51.9	%

Diluted Weighted Average Common Shares Outstanding (000s)	88,092			87,661			431			N/M
Diluted Earnings Per Share	$	0.41		$	0.27		$	0.14		51.9	%

N/M - Percentage change not meaningful

UNITED STATES CELLULAR CORPORATION

FINANCIAL HIGHLIGHTS

Nine Months Ended September 30,

(Unaudited, dollars in thousands, except per share amounts)

				2005			Increase (Decrease)
	2006			(as restated)			Amount				Percent
Operating Revenues
Service	$	2,382,747		$	2,089,232		$ 293,515			14.0		%
Equipment sales	188,289			156,294			31,995			20.5		%
Total Operating Revenues	2,571,036			2,245,526			325,510			14.5
Operating Expenses
System operations (excluding depreciation shown below)	468,980			446,278			22,702			5.1		%
Cost of equipment sold	417,489			374,882			42,607			11.4		%
Selling, general and administrative	1,028,865			877,116			151,749			17.3		%
Depreciation, amortization and accretion	429,451			382,244			47,207			12.3		%
Total Operating Expenses	2,344,785			2,080,520			264,265			12.7		%

Operating Income	226,251			165,006			61,245			37.1		%

Investment and Other Income (Expense)
Equity in earnings of unconsolidated entities	64,923			49,231			15,692			31.9		%
Interest and dividend income	10,996			6,884			4,112			59.7		%
Interest (expense)	(70,189		)	(63,304		)	(6,885		)	(10.9		%)
Fair value adjustment of derivative instruments	(17,392		)	9,938			(27,330		)	N/M
Gain (loss) on investments	—			551			(551		)	N/M
Other income	(163		)	(536		)	373			69.6		%
	(11,825		)	2,764			(14,589		)	N/M
Income Before Income Taxes and Minority Interest	214,426			167,770			46,656			27.8		%
Income tax expense	77,903			65,955			11,948			18.1		%
Income Before Minority Interest Minority share of income	136,523 (11,138		)	101,815 (8,034		)	34,708 (3,104		)	34.1 (38.6		%%)
Net Income	$	125,385		$	93,781		$	31,604		33.7		%

Basic Weighted Average Common Shares Outstanding (000s)	87,258			86,674			584			N/M
Basic Earnings Per Share	$	1.44		$	1.08		$	0.36		33.3		%

Diluted Weighted Average Common Shares Outstanding (000s)	88,071			87,390			681			N/M
Diluted Earnings Per Share	$	1.42		$	1.07		$	0.35		32.7		%

N/M - Percentage change not meaningful

UNITED STATES CELLULAR CORPORATION

CONSOLIDATED BALANCE SHEET HIGHLIGHTS

(Unaudited, dollars in thousands)

				December 31,
	September 30,			2005
	2006			(as restated)
ASSETS

Current Assets
Cash and cash equivalents	$	38,910		$	29,003
Marketable equity securities	204,933			—
Accounts receivable from customers and other	393,520			362,359
Inventory	76,925			92,748
Prepaid expenses	36,605			32,068
Deferred income tax asset	—			8,218
Other current assets	21,160			15,489
	772,053			539,885

Investments
Licenses	1,447,569			1,362,263
Goodwill	485,485			481,235
Customer lists	32,048			47,649
Marketable equity securities	3,572			225,387
Investments in unconsolidated entities	197,817			172,093
Notes and interest receivable—long-term	4,767			4,707
	2,171,258			2,293,334

Property, Plant and Equipment
In service and under construction	4,981,963			4,615,234
Less accumulated depreciation	2,382,414			2,062,205
	2,599,549			2,553,029

Other Assets and Deferred Charges	30,647			29,985

Total Assets	$	5,573,507		$	5,416,233

LIABILITIES AND SHAREHOLDERS’ EQUITY

Current Liabilities
Current portion of Long-term Debt	$	159,856		$	—
Derivative Liability	43,210			—
Notes payable	150,000			135,000
Accounts payable
Affiliates	11,065			7,239
Trade	248,805			301,058
Customer deposits and deferred revenues	119,782			111,407
Accrued taxes	42,324			36,748
Accrued compensation	42,504			42,865
Deferred Taxes	28,681			—
Other current liabilities	47,822			28,404
	894,049			662,721

Long-term Debt	1,001,725			1,161,241

Deferred Liabilities and Credits	755,788			809,362

Minority Interest	38,741			41,871

Common Shareholders’ Equity
Common Shares, par value $1 per share	55,046			55,046
Series A Common Shares, par value $1 per share	33,006			33,006
Additional paid-in capital	1,289,802			1,286,964
Treasury Shares	(40,594		)	(47,088		)
Accumulated other comprehensive income	51,571			44,122
Retained earnings	1,494,373			1,368,988
	2,883,204			2,741,038

Total Liabilities and Shareholders’ Equity	$	5,573,507		$	5,416,233