Sec Form 5 Filing - GLEISNER JERRY A @ TELEPHONE & DATA SYSTEMS INC /DE/ - 2003-12-31

FORM 5 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person GLEISNER JERRY A 2. Issuer Name and Ticker or Trading Symbol TELEPHONE & DATA SYSTEMS INC /DE/ [ TDS] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner X __ Officer (give title below) _____ Other (specify below) Vice President Corporate Syste (Last) (First) (Middle) C/O TDS INC, 8401 GREENWAY BLVD 3. Date of Earliest Transaction (MM/DD/YY) 12/31/2003 (Street) MIDDLETON, WI53562 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Shares 12/31/2003 J( 1 ) V 82.77 A 445.82 I By 401(K) plan

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares Option (Right to Buy) ( 2 ) $ 38.12 12/15/1995 12/15/2005 Common Shares 367 367 D Option (Right to Buy) ( 2 ) $ 47.6 12/15/1996 12/15/2006 Common Shares 371 371 D Option (Right to Buy) ( 2 ) $ 37.77 12/15/1997 12/15/2007 Common Shares 340 340 D Option (Right to Buy) ( 2 ) $ 40.87 12/15/1998 06/22/2008 Common Shares 920 920 D Option (Right to Buy) ( 2 ) $ 58.96 12/15/1999 04/30/2009 Common Shares 1,000 1,000 D Option (Right to Buy) ( 2 ) $ 102.79 12/15/2000 04/28/2010 Common Shares 980 980 D Option (Right to Buy) $ 117.51 ( 4 ) 09/16/2010 Common Shares 4,340 4,340 D Option (Right to Buy) ( 2 ) $ 99.44 12/15/2001 04/30/2011 Common Shares 1,860 1,860 D Option (Right to Buy) ( 2 ) $ 59 12/15/2002 07/05/2012 Common Shares 3,190 3,190 D Option (Right to Buy) ( 2 ) $ 44.58 12/15/2003 12/15/2013 Common Shares 2,890 2,890 D Option (Right to Buy) ( 3 ) $ 43.75 ( 3 ) 11/05/2007 Common Shares 2,100 2,100 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other GLEISNER JERRY A C/O TDS INC 8401 GREENWAY BLVD MIDDLETON, WI53562 Vice President Corporate Syste Signatures Julie D. Mathews, by power of atty 01/20/2004 Signature of Reporting Person Date

Explanation of Responses:

( 1 )Shares held in the TDS 401K plan. The information is based on a plan statement dated 12/31/03. The number of shares fluctuated is attributed to the price of the shares on 12/31/03. Reporting person denies beneficial ownership of 124.27 shares that are owned by wife in the 401K plan. ( 2 )Granted under the TDS Long Term Incentive Plan. ( 3 )Granted under the Long Term Incentive Plan. The option is exercisable with respect to 700 Common Shares on 12/15/98, 12/15/99, 12/15/00 for a total of 2100 common shares. ( 4 )Granted under the TDS 1998 Long Term Incentive Plan. The option is exercisable with respect to 1085 Common shares on 12/15/01, 12/15/02, 12/15/03 and 12/15/04 for a total of 4340 common shares.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

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