Rule 424 (b) (3)
Registration No.33-38560
Pricing Supplement No. C2 , Dated January 23, 1995
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(To Prospectus Dated April 21, 1994 and
Prospectus Supplement Dated April 21, 1994)
CUSIP No: 87943H AV 1
Telephone and Data Systems, Inc.
Medium-Term Notes, Series C
Due From Nine Months to Thirty Years From Date of Issue
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Fixed Rate Note
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Principal Amount: $2,500,000 Trade Date: January 23, 1995
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Price: $2,500,000 Original Issue Date: January 30, 1995
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Interest Rate: 9.20% Maturity Date: January 30, 2007
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Agent's Discount or Net Proceeds to
Commission: $18,750 Issuer: $2,484,375
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Form: X Book Entry Certificated
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Depository: DTC #5132
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Selling Agent: ________ SALOMON BROTHERS INC
____X____ MERRILL LYNCH & CO.
Selling Agent acting in the capacity as indicated below:
_____X____ Agent __________ Principal
If as principal, the following shall apply:
[Salomon Brothers][Merrill Lynch] has purchased the
Notes as principal in this transaction for resale to
one or more investors at varying prices related to
prevailing market conditions at the time or times or
resale as determine by [Salomon Brothers][Merrill
Lynch].
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Redemption (at the option of the Company):
_______ The Notes cannot be redeemed prior to the Maturity Date.
___X___ The Notes may be redeemed prior to the Maturity Date:
Initial Redemption Date: January 30, 2002
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Annual Redemption Percent: Par (100) %
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Repayment (at the option of the Holder)
___X___ The Notes cannot be repaid prior to the Maturity Date.
_______ The Notes may be repaid prior to the Maturity Date:
Repayment Date: ___________________________
Repayment Price: ______________________%
Original Issue Discount Note: _______Yes ___X____ No
Total Amount of OID: ______________________________
Yield to Maturity: _________________________________
Initial Accrual Period OID: _________________________
Unless otherwise indicated, the Company shall not have the option to reset
the Interest Rate or extend the Maturity Date of the Notes.
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