(continued)
| • |
Launching eight new markets – Omaha, Neb.;
St. Joseph, Mo.; Council Bluffs, Iowa; Rochester,
Minn.; South Bend and Fort Wayne, Ind.; and Stillwater
and Enid, Okla. |
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|
| • |
Exchanging our Georgia and north Florida properties
with AT&T Wireless for 10 and 20 MHz PCS licenses,
which are adjacent to or in our existing markets
in 13 states. |
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|
| • |
Negotiating – and completing in February
2004 – the divestiture of our south Texas
markets for cash that will help fund the build-out
of our new markets. |
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|
| • |
Continuing the integration of our new Chicago
market, generating rapid brand awareness in our
first year of service and establishing ourselves
as a committed hometown corporate citizen. |
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|
| • |
Strengthening the U.S. Cellular brand through
effective advertising and marketing – including
securing the naming rights to the home of the Chicago
White Sox, now officially U.S. Cellular Field. |
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|
| • |
Converting to a single billing
and customer care system across the company, so
that all of our customers are now on our own Customer
Acquisition and Retention System (CARES). |
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|
| • |
Effectively managing
the industry-wide introduction of wireless number
portability (WNP), with more customers signing on
than leaving the company. |
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|
| • |
Building and opening a state-of-the-art network
operations center in Schaumburg, Ill. |
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|
| • |
Successfully launching our
most advanced data product, easyedge(SM)…a
versatile, easy-to-use service with more than 150
downloadable applications. |
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|
| • |
Continuing to upgrade
our network to Code Division Multiple Access (CDMA)
1X technology, ahead of schedule and below budget
for our three-year systemwide initiative. |
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|
| • |
Placing a $444 million, 30-year bond offering
at a very attractive rate, and securing additional
financing, increasing the size of our revolving
credit facility to $700 million. |
All of these efforts support our customersatisfaction
strategy. Our success is amply demonstrated by our enviable
postpay churn
rate of 1.5 percent, one of the best in the wireless
industry.
Smart planning, disciplined execution and a clear sense
of purpose are key to achieving our twin goals of customer
satisfaction and profitable growth. Having the right
people is essential to our strategy. That’s the
essence behind our Dynamic Organization. Our associates
embrace the five key values on which the Dynamic Organization
is based: ethics, pride, empowerment, respect for one
another and a total focus on the customer. These values
are embedded in everything we do at U.S. Cellular.
We’re enthusiastic about our prospects for 2004.
We will continue to strengthen our markets, building
out several of the markets we acquired in 2003, including
Oklahoma City, Okla.; Lincoln, Neb.; and Portland, Maine.
We will complete the final phase of our network improvement
initiative, and we will continue to build on and enhance
our data-service products.
And we’re ready for the second phase of WNP. Consumers
want number portability, so we’re committed to
making the portability process as smooth as possible
on our end. To ensure this, we’ve invested $50
million over the last two years. We believe our focus
on customer satisfaction will serve us well in this
respect, helping us expand our business.
We began this letter by noting our associates’
great achievements in 2003. U.S. Cellular associates
are the main reason we feel so good about our business.
Our thanks go to them, as well as to our customers,
shareholders, communities and other partners. We are
honored by the support all of you have given us, and
we pledge to work hard to keep that support.
Customers expect it. We deliver!
Cordially yours,
John E. Rooney
President and Chief Executive Officer
LeRoy T. Carlson, Jr.
Chairman
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