Alamosa Sets Dividend and Record Date for Convertible Preferred Stock

Alamosa Sets Dividend and Record Date for Convertible Preferred
Stock 


LUBBOCK, Texas, March 31  /PRNewswire-FirstCall/ -- Alamosa Holdings, Inc. , the
largest (based on number of subscribers) PCS Affiliate of Sprint , which
operates the largest all-digital, all-CDMA Third-Generation (3G) wireless
network in the United States, 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 April 19, 2004 for the second dividend
payment on its 7.5% Series B Convertible Preferred Stock.  The dividend will be
payable on April 30, 2004 at an annual rate of 7.5% of the $250 per share
liquidation preference, in respect to the period from February 1, 2004 through
April 30, 2004.  The ex-dividend date will be April 15, 2004.

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 dividend in cash.

ABOUT ALAMOSA

Alamosa Holdings, Inc. is the largest PCS Affiliate of Sprint based on number of
subscribers. 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 and California. Alamosa's territory includes licensed population of
15.8 million residents.

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; 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, 2003 and in subsequent filings with the Securities and Exchange
Commission. Investors and analysts should not place undue reliance on
forward-looking statements. 

DATASOURCE: Alamosa Holdings, Inc.



CONTACT:  Jon D. Drake, Director of Investor Relations of Alamosa

Holdings, Inc., [phone],  

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