THE CORPORATE LIBRARY

Related Party Transactions and Outside Related Director Information

Iowa Telecommunications Services, Inc. (IWA)

5/1/2006 Proxy Information

Telecommunications Service Arrangements with Iowa Network Services

We currently have several agreements with Iowa Network Services (“INS”), the beneficial owner of approximately 9.88% of the shares of our common stock outstanding. We sell network and special access services to INS. In 2005 we recognized $2.1 million related to these services. We also purchase certain services including switch monitoring and telecommunication circuits from INS and resell certain products obtained from INS. In 2005 we recognized expenses of $12.1 million related to these products and services.