FREQUENTLY ASKED SHAREHOLDER QUESTIONS
REGARDING VERIZON'S
ACQUISITION OF RURAL CELLULAR CORPORATION
1. What was the effective closing date of Verizon’s acquisition of Rural Cellular Corporation (“RCC”) and what does that mean to me as a shareholder?
The closing of Verizon’s acquisition of RCC occurred at 12:01 am on August 7, 2008. RCC Class A shareholders and Class B shareholders as of the end of trading on August 6, 2008 (“Shareholders”) will have the right to receive $45 for each RCC share they own.
2. Who has Verizon designated as the paying agent for the transaction and what is their responsibility?
Wells Fargo Shareowner Services is the paying agent. They are responsible for administering the process of exchanging RCC Class A and Class B shares outstanding as of the end of the trading on August 6, 2008, into $45 per share in cash.
3. I am a registered Shareholder and have my RCC stock certificate. How do I exchange my RCC shares for $45 per share in cash and how long will it take?
In mid-August, each registered Shareholder should receive a “letter of transmittal form” from Wells Fargo Shareowner Services providing instruction regarding his or her RCC stock certificate and what steps are necessary to receive the merger consideration. After a Shareholder furnishes all required documents to Wells Fargo, Wells Fargo will mail the merger consideration to that Shareholder at his or her address of record. Please allow approximately two weeks for both processing and mail time.
4. I need to update my address as listed on my RCC stock certificate before the letter of transmittal is mailed. How do I accomplish this?
To review account and address information regarding a RCC stock certificate, contact Wells Fargo Shareowner Services.
Telephone
(800) 468-9716
Use the automated system 24 hours a day, 7 days a week.
Or speak with a customer service representative from 7:00 a.m. to 7:00 p.m.
Central Time, Monday through Friday.
Shareowner Services
PO Box 64874
St Paul , Minnesota 55164-0874
5. When may I turn in my RCC stock certificate(s)?
Each registered Shareholder may turn in his or her stock certificate at any time upon receipt and completion of the letter of transmittal. If the registered Shareholder has not received a letter of transmittal by August 16, 2008, a duplicate letter of transmittal may be requested by contacting Wells Fargo Shareowner Services at 1-800-468-9716.
6. May I submit my RCC shares for reimbursement via the Internet instead of physically delivering them to Wells Fargo Shareowner Services?
This is NOT procedurally possible.
7. I own RCC shares through my broker. How do I exchange my RCC shares into $45 per share and how long will it take?
The process of exchanging RCC shares held with a broker should be relatively seamless. However, Shareholders whose shares are held with a broker are encouraged to be in contact with their broker regarding potential administrative requirements within their brokerage account. The exchange of RCC shares should be completed soon after the closing of the merger.
8. Who should I contact if I have further questions regarding the process of exchanging my RCC stock once the merger has closed?
Wells Fargo Shareowner Services
SHAREHOLDER CONTACT INFORMATION
Letter of Transmittal Questions
1-800-380-1372General Questions
1-800-468-9716
Use the automated system 24 hours a day, 7 days a week.
Or speak with a customer service representative from 7:00 a.m. to 7:00 p.m.
Central Time, Monday through Friday.
Shareowner Services
PO Box 64874
St Paul , Minnesota 55164-0874Customer Service Counter or Courier
Shareowner Services
161 North Concord Exchange
South St Paul, MN 55075
