text: **OUR BUSINESS**
  
  Shenandoah Telecommunications Company is a diversified telecommunications holding company which provides 
  various telecommunications services through its operating subsidiaries. These services include: wireline telephone 
  service, primarily in Shenandoah County and small service areas in Rockingham, Frederick, and Warren counties, all in 
  Virginia; cable television service in Shenandoah County; unregulated telecommunications equipment sales and services; 
  online information and Internet access provided to the multi-state region surrounding the Northern Shenandoah Valley of 
  Virginia; financing of purchases of telecommunications facilities and equipment; paging services in the Northern 
  Shenandoah Valley; resale of long distance services; operation and maintenance of an interstate fiber optic network; 
  wireless personal communications services (PCS) and a tower network in the four-state region from Harrisonburg, 
  Virginia to the Harrisburg, York and Altoona, Pennsylvania markets. 
  
  **ANNUAL MEETING**
  
  The Board of Directors extends an invitation to all shareholders to attend the Annual Meeting of Shareholders. The 
  meeting will be held at 11:00 AM (EST) on April 20, 2004 in the Auditorium of the Company’s offices at the Shentel 
  Center, 500 Mill Road, Edinburg, Virginia. 