text: The Company continued its efforts to successfully grow revenues and profits from other lines of business and by 
  furnishing more and newer services in our enlarged footprint extending beyond Shenandoah County. Revenues from our 
  information access services, which includes contract work on the 511Virginia Travel Project and Internet access services, 
  increased $0.6 million, to $7.0 million during 2003. The Virginia Department of Transportation has requested proposals 
  to continue the 511 project for future years, as well as to expand it to cover all the interstate highways throughout the 
  Commonwealth. The success of the project to date has attracted many other bidders competing against our Company to 
  win the contracts. Our recently launched regional phone book, Shentel Pages, exceeded our initial revenue expectations. 
  It is hoped that a single source of phone listings and Yellow Page advertising, in both printed and online versions, will 
  increasingly be demanded by residents and businesses in the northern Shenandoah Valley region. 
  
  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. 