NOTICE OF GUARANTEED DELIVERY
 
                                      FOR
 
                               OFFER TO EXCHANGE
                 9 1/8% SERIES A SENIOR SECURED NOTES DUE 2006
                          FOR ANY AND ALL OUTSTANDING
                 9 1/8% SERIES B SENIOR SECURED NOTES DUE 2006
 
                                       OF
 
                      PRICE COMMUNICATIONS WIRELESS, INC.
                                ---------------
 
    Registered holders of outstanding 9 1/8% Series A Senior Secured Notes due
2006 (the "Old Notes") who wish to tender their Old Notes in exchange for a like
principal amount of 9 1/8% Series B Senior Secured Notes due 2006 (the "New
Notes") and, in each case, whose Old Notes are not immediately available or who
cannot deliver their Old Notes and Letter of Transmittal (and any other
documents required by the Letter of Transmittal) to Bank of Montreal Trust
Company (the "Exchange Agent") prior to the Expiration Date, may use this Notice
of Guaranteed Delivery or one substantially equivalent hereto. This Notice of
Guaranteed Delivery may be delivered by hand or sent by facsimile transmission
(receipt confirmed by telephone and an original delivered by guaranteed
overnight delivery) or mail to the Exchange Agent. See "The Exchange Offer --
Guaranteed Delivery Procedures" in the Prospectus.
 
                 THE EXCHANGE AGENT FOR THE EXCHANGE OFFER IS:
 
                         BANK OF MONTREAL TRUST COMPANY
 
                             BY MAIL, BY OVERNIGHT
                              COURIER OR BY HAND:
 
                         Bank of Montreal Trust Company
                           77 Water Street, 4th Floor
                               Attn: Amy Roberts,
                           Corporate Trust Department
                               New York, NY 10005
 
                                 BY FACSIMILE:
                                 (212) 701-7684
 
                             CONFIRM BY TELEPHONE:
                                 (212) 701-7653
 
    Delivery of this Notice of Guaranteed Delivery to an address other than as
set forth above or transmission of instructions via a facsimile transmission to
a number other than as set forth above will not constitute a valid delivery.
 
    This Notice of Guaranteed Delivery is not to be used to guarantee
signatures. If a signature on the Letter of Transmittal is required to be
guaranteed by an Eligible Institution, such signature guarantee must appear in
the applicable space provided on the Letter of Transmittal for Guarantee of
Signatures.

                   THE FOLLOWING GUARANTEE MUST BE COMPLETED
 
                             GUARANTEE OF DELIVERY
 
                   (NOTE TO BE USED FOR SIGNATURE GUARANTEE)
 
    The undersigned, a firm that is a member of a registered national securities
exchange or a member of the National Association of Securities Dealers, Inc. or
a commercial bank or trust company having an office, branch, agency or
correspondent in the United States, hereby guarantees to deliver to the Exchange
Agent at one of its addresses set forth above, the certificates representing the
Old Notes, together with a properly completed and duly executed Letter of
Transmittal (or facsimile thereof), with any required signature guarantees, and
any other documents required by the Letter of Transmittal within five New York
Stock Exchange, Inc. trading days after the date of execution of this Notice of
Guaranteed Delivery.
 

                                            
Name of Firm:
                                               (Authorized Signature)
 
Address:                                       Title:
 
                                               Name:
                                   (Zip Code)  (Please type or print)
 
Area Code and Telephone Number:
 
                                               Date:

 
NOTE: DO NOT SEND NOTES WITH THIS NOTICE OF GUARANTEED DELIVERY. NOTES SHOULD BE
                     SENT WITH YOUR LETTER OF TRANSMITTAL.
 
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