Exhibit 99.2

FOR RELEASE: IMMEDIATE

U.S. Cellular sells $275 million of 7.25 percent notes

CHICAGO – Dec. 2, 2014 -- United States Cellular Corporation (NYSE: USM) announced today that it sold $275 million of 7.25 percent Senior Notes due 2063 on Dec. 1, 2014. The notes are callable at par on and after December 8, 2019. Closing is expected to occur on Dec. 8, 2014.

The notes are expected to be listed on the New York Stock Exchange under the symbol "UZB"

Following completion of the offering, U.S. Cellular expects to use the net proceeds for general corporate purposes, including potential spectrum purchases and capital expenditures.

U.S. Cellular intends to file a prospectus supplement with the Securities and Exchange Commission in connection with the offering. The prospectus supplement relates to the shelf registration statement filed by U.S. Cellular on May 31, 2013, as amended on Aug 30, 2013, and declared effective on Sept. 10, 2013, which registered up to $500 million of debt securities for offer and sale by U.S. Cellular from time to time.

BofA Merrill Lynch, Morgan Stanley, RBC Capital Markets, Wells Fargo Securities and UBS Investment Bank were joint book-running managers.

The offering is being made only by means of the prospectus. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

About U.S. Cellular

United States Cellular Corporation provides a comprehensive range of wireless products and services, excellent customer support, and a high-quality network to 4.7 million customers in 23 states. The Chicago-based company had 6,500 full- and part-time associates as of Sept. 30, 2014. At the end of the third quarter of 2014, Telephone and Data Systems, Inc. owned 84 percent of U.S. Cellular. For more information about U.S. Cellular, visit uscellular.com. 

Visit uscellular.com  for comprehensive financial information, including earnings releases, quarterly and annual filings, shareholder information and more.

Contacts

Jane W. McCahon, Vice President, Corporate Relations and Corporate Secretary

(312) 592-5379

jane.mccahon@teldta.com

Julie D. Mathews, Manager, Investor Relations

(312) 592-5341

 julie.mathews@teldta.com 

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995:   All information set forth in this news release, except historical and factual information, represents forward-looking statements. This includes all statements about the company’s plans, beliefs, estimates, and expectations. These statements are based on current estimates, projections, and assumptions, which involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Important factors that may affect these forward-looking statements include, but are not limited to: impacts of any pending acquisition and divestiture transactions,  including, but not limited to, the ability to obtain regulatory approvals, successfully complete the transactions and the financial impacts of such transactions; the ability of the company to successfully manage and grow its markets; the overall economy; competition; the ability to obtain or maintain roaming arrangements with other carriers on acceptable terms; the state and federal telecommunications regulatory environment; the value of assets and investments; adverse changes in the ratings afforded TDS and U.S. Cellular debt securities by accredited ratings organizations; industry consolidation; advances in telecommunications technology; uncertainty of access to the capital markets;  pending and future litigation; changes in income tax rates, laws, regulations or rulings; acquisitions/divestitures of properties and/or licenses; changes in customer growth rates, average monthly revenue per user, churn rates, roaming revenue and terms, the availability of wireless devices, or the mix of products and services offered by U.S. Cellular. Investors are encouraged to consider these and other risks and uncertainties that are discussed in documents used by U.S. Cellular to furnish Securities and Exchange Commission.    

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