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18
The Board of Directors and Stockholders
CenturyTel, Inc.
We have audited, in accordance with the standards of the
Public Company Accounting Oversight Board (United States),
the consolidated balance sheets of CenturyTel, Inc. and its
subsidiaries as of December 31, 2005 and 2004, and the
related statements of income, comprehensive income, cash
flows and stockholders’ equity for each of the years in the
three-year period ended December 31, 2005 (not presented
herein, but included in the Company’s 2006 Proxy
Statement); and in our report dated March 13, 2006, we
expressed an unqualified opinion on those consolidated
financial statements.
In our opinion, the information set forth in the
accompanying selected condensed consolidated financial
statements of CenturyTel, Inc. is fairly stated in all material
respects, in relation to the consolidated financial statements
from which it has been derived.
The following pages of CenturyTel’s Annual Report contain
selected condensed consolidated financial statements. Full
financial statements, along with certifications required under
the Sarbanes-Oxley Act of 2002, the New York Stock Exchange
rules and management’s discussion and analysis of financial
condition and results of operations, are provided in our 2006
Proxy Statement (“Proxy Statement”) and 2005 Annual Report
on Form 10-K (“Form 10-K”) filed with the Securities and
Exchange Commission. The Proxy Statement will be mailed
to shareholders.
A copy of our Form 10-K can be obtained at no charge by
contacting our Investor Relations department at 800.833.1188
or by accessing our Web site at www.centurytel.com.
In addition to historical information, this Annual Report
includes certain forward-looking statements that are subject
to uncertainties that could cause our actual results to differ
materially from such statements. Please refer to our Form
10-K for the year ended December 31, 2005 for a description
of these and other uncertainties related to our business.
2005 Financial Information
KPMG LLP
Shreveport, Louisiana
March 13, 2006
Report of Independent
Registered Public Accounting Firm
CENTURYTEL 2005 ANNUAL REPORT