ALLTEL CORPORATION
ONE ALLIED DRIVE
LITTLE ROCK, AR 72202
(501) 905 - 8000
www.alltel.com


UPGRADE  &  DOWNGRADE  HISTORY

Date Grading From To Analyst
15-Feb-01 DOWNGRADE   Buy  Hold CSFB
31-Jan-01 DOWNGRADE   Buy  Hold CIBC World Markets
3-Jan-01 DOWNGRADE   Accumulate  Maintain Position AG Edwards
12-Oct-00 UPGRADE   Accumulate  Buy AG Edwards
16-Aug-00 DOWNGRADE   Strong Buy  Buy First Union Sec
20-July-00 DOWNGRADE   Buy  Neutral PaineWebber
21-June-00 INITIATED   Buy   ING Barings
23-May-00 UPGRADE   Maintain Position  Accumulate AG Edwards
10-Mar-00 UPGRADE   Outperform  Strong Buy Morgan Stanley Dean Witter
24-Feb-00 INITIATED   Buy   Legg Mason
1-Feb-00 UPGRADE   Neutral  Buy PaineWebber
31-Jan-00 UPGRADE   Neutral  Buy Bear Stearns
31-Jan-00 UPGRADE   Buy  Strong Buy Deutsche Bc Alex. Br
31-Jan-00 UPGRADE   Buy  Strong Buy First Union Sec
28-Jan-00 INITIATED   Buy   Chase H&Q
19-Jan-00 INITIATED   Buy   First Union Sec
5-Jan-00 INITIATED   Buy   CSFB
28-Oct-99 UPGRADE   Hold  Buy CIBC Wrld Mkts
13-Oct-99 INITIATED   Buy   Jefferies & Co
8-Sep-99 INITIATED   Buy   Banc of America Sec
3-Sep-99 INITIATED   Buy   Deutsche Bc Alex. Br
5-July-99 INITIATED   Buy   Stephens Inc
2-July-99 INITIATED   Buy   Stephens Inc
19-May-99 UPGRADE   LT Accumulate  LT Buy Merrill Lynch
16-Apr-99 DOWNGRADE   Strong Buy  Outperform Morgan Stanley Dean Witter