## $^{Generating }$Profitable Growth 

We’re committed at U.S. Cellular to growing profitably. It’s not something that happens overnight. That’s why our strategy is integrated, and why everything we do works toward keeping U. S. Cellular strong and well positioned for the future. itione , | 

Over the last few year s, we have been investing in U.S. Cellular’ s future by allocating our resour ces to longer- term initiatives, such a s strengthening our footprint and our wireless net- work. Our capital expenditures in 2003 totaled $633 million in support of these efforts. 

Our expenses wer higher this year than last. Much of the increase was due to integrating oper ations in our Chicago marke and increasing brand awareness – also important for our future. But this year we also made progress in trimming our costs. 

For example, we negotiated with other carriers to save the company more than $25 million in roaming expenses. We’ll continue these efforts in the coming year and beyond. 

We also simplified pricing plans, streamlined processes and consolidated operations, including our billing systems. Our billing system conversion, which eliminated the dual billing system in Chicago, has lowered general and administrative expenses considerably. 

