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ALLTEL Names Greg Penske to Board of Directors

LITTLE ROCK, Ark., July 6 /PRNewswire/ -- Gregory W. Penske has been elected to the ALLTEL (NYSE: AT) board of directors effective immediately.

Penske is president of Penske Automotive Group Inc. of El Monte, Calif., which sells more than 39,000 vehicles annually. Penske Automotive is a subsidiary of Penske Corp., which includes Longo Toyota, the world's largest retail dealer.

"It is an honor for ALLTEL to add Greg Penske to our board of directors," said Joe T. Ford, chairman and chief executive officer of ALLTEL. "Greg is an outstanding leader in his industry, and he will lend a valuable voice to the ALLTEL board."

Penske also is a director and senior vice president of International Speedway Corp. of Daytona Beach, Fla., and serves as a board member for a number of civic and industry associations.

He is a graduate of Cornell University and lives in Los Angeles with his wife and two children.

ALLTEL, with more than 9 million communications customers, $6.5 billion in annual revenues and 26,000 employees, is a leader in the communications and information services industries. ALLTEL has communications customers in 23 states and provides information services to telecommunications, financial and mortgage clients in 55 countries and territories.

CONTACT: George Smith, Vice President - Media Services of ALLTEL, 501-905-8117, or george.s.smith@alltel.com/

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Alltel Corp.'s business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.