COMMNET CELLULAR INC.

                                 EXHIBIT 12.1

                      Ratio of Earnings to Fixed Charges

                            (Amounts in thousands)



                                                       Years ended September 30,
                                        ----------------------------------------------------
                                            1992       1993       1994      1995      1996
                                        -----------  ---------  ---------  -------  --------
                                                                     
Income (loss) before income            
 taxes                                    $(17,042)  $(22,666)  $(16,751)  $    62   $(4,396)
                                      
Add:                                   
  Interest on indebtedness                  14,801     16,428     21,339    26,044    28,208
                                      
  Portion of rents                     
   representative of the                       391        378        455       803     1,266
   interest factor                        --------   --------   --------   -------   -------
                                      
Income (loss) as adjusted                 $ (1,850)  $ (5,860)  $  5,043   $26,909   $25,078
                                          ========   ========   ========   =======   =======
                                      
Fixed charges:                         
  Interest on indebtedness                  14,801     16,428     21,339    26,044    28,208
                                      
  Portion of rents                     
   representative of the                       391        378        455       803     1,266
   interest factor                        --------   --------   --------   -------   -------
                                      
                                          $ 15,192   $ 16,806   $ 21,794   $26,847   $29,474
                                          ========   ========   ========   =======   =======
                                      
Excess (deficiency) of                 
     earnings to fixed charges            $(17,042)  $(22,666)  $(16,751)  $    62   $(4,396)