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TDS Promotes Toomey

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CHICAGO -- Telephone and Data Systems, Inc. today announced that John M. Toomey has been promoted to vice president and treasurer, effective immediately.

Toomey most recently served as vice president and assistant treasurer. In his new role he will take on greater responsibilities for capital markets activities, banking relationships, cash investing, and certain other corporate finance functions for TDS and its business units, U.S. Cellular and TDS Telecom. He will also continue to be a member of the investment management committee for the Company's retirement plans.

Toomey succeeds Peter Sereda, who has been appointed senior vice president of finance for TDS.

"John has shown exceptional leadership in successfully managing TDS' capital markets and banking functions that are essential to maintain the company's strong financial foundation," said Sereda. "I'm confident he will continue to apply his expertise and excel in his new position."

Toomey received an MBA in finance and accounting from the Kellogg Graduate School of Management at Northwestern University, and a BS in mechanical engineering from Marquette University.

Telephone & Data Systems Inc. (Amex: TDS)

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