While our 2003 results have been good, we recognize we still have many challenges to overcome in order to continue
our history of profitable long-term growth.  Foremost is sustaining profitability in our PCS business which is so heavily
dependent on Sprint's decisions and overall success with PCS.  Our recently announced amendment to our Sprint
agreements will provide some cost savings and allow us greater certainty in fees paid to Sprint.  The recently announced
merger between two of Sprint's competitors may provide some much needed consolidation in the U.S. wireless industry.
LETTER TO THE SHAREHOLDERS
1 ■ 2003 ANNUAL REPORT
Christopher E. French