Alamosa Sets Dividend and Record Date for Convertible Preferred Stock

Alamosa Holdings, Inc. (Nasdaq/NM:APCS), today announced
its dividend, record and ex-dividend dates for its 7.5% Series B
Convertible Preferred Stock.
   The Company has set a record date of July 18, 2005 for the
dividend payment, payable on August 1, 2005 at an annual rate of 7.5%
of the $250 per share liquidation preference. The ex-dividend date
will be July 14, 2005. Through July 31, 2008, Alamosa Holdings has the
option to pay dividends on the Series B Convertible Preferred Stock
in: (1) cash, (2) shares of the Alamosa Holdings' Series C Convertible
Preferred Stock, (3) shares of Alamosa Holdings common stock or (4) a
combination thereof. The Company's Board of Directors has elected to
pay the full amount of the August 1, 2005 dividend in cash.

   ABOUT ALAMOSA

   Alamosa Holdings, Inc. is the largest (based on number of
subscribers) PCS Affiliate of Sprint (NYSE: FON), which operates the
largest all-digital, all-CDMA Third-Generation (3G) wireless network
in the United States. Alamosa has the exclusive right to provide
digital wireless mobile communications network services under the
Sprint brand name throughout its designated territory located in
Texas, New Mexico, Oklahoma, Arizona, Colorado, Utah, Wisconsin,
Minnesota, Missouri, Washington, Oregon, Arkansas, Kansas, Illinois,
California, and subsequent to year end in Georgia, South Carolina,
North Carolina and Tennessee. Alamosa's territory includes licensed
population of 23.2 million residents, including 15.8 million residents
in Alamosa's territories and 7.4 million residents in the recently
acquired AirGate properties.

   FORWARD LOOKING STATEMENTS

   Statements contained in this news release that are forward-looking
statements, such as statements containing terms such as can, may,
will, expect, plan, and similar terms, are subject to various risks
and uncertainties. Such forward-looking statements are made pursuant
to the "safe-harbor" provisions of the Private Securities Litigation
Reform Act of 1995 and are made based on management's current
expectations or beliefs as well as assumptions made by, and
information currently available to, management. A variety of factors
could cause actual results to differ materially from those anticipated
in Alamosa's forward-looking statements, including the following
factors: Alamosa's dependence on its affiliation with Sprint; shifts
in populations or network focus; changes or advances in technology;
changes in Sprint's national service plans or fee structure with us;
change in population; difficulties in network construction; increased
competition in our markets and adverse changes in financial position,
condition or results of operations. For a detailed discussion of these
and other cautionary statements and factors that could cause actual
results to differ from Alamosa's forward-looking statements, please
refer to Alamosa's filings with the Securities and Exchange
Commission, especially in the "risk factors" sections of Alamosa's
Annual Report on Form 10-K for the year ended December 31, 2004 and in
subsequent filings with the Securities and Exchange Commission.
Investors and analysts should not place undue reliance on
forward-looking statements.