Bell Atlantic Declares Post-Merger Dividend Increase

Bell Atlantic Declares Post-Merger Dividend Increase

- Board Moves Consideration of Increases to Third Quarter -

September 23, 1997

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David Frail


(NYSE:BEL) today declared the first dividend following its merger with

NYNEX Corp., increasing the quarterly dividend 4.0 percent to $.77 per

outstanding common share, an annual rate of $3.08.

This dividend increase is the second in 1997, and marks the 14th

increase in 13 years. On March 25, an increase from $.72 to $.74 per

share was declared.

"This dividend increase reflects our confidence in the long-term

growth prospects of the new Bell Atlantic," said Bell Atlantic

Chairman and CEO Ray Smith, "and in our ability to capitalize on the

opportunities offered to us by the changes in our industry."

Smith also noted that, beginning in 1998, the board's regular

consideration of possible dividend increases will take place in the

third quarter of each year, for payment in November. The board's

practice before the merger was to consider increases in the first

quarter, for payment in May.

The increased dividend declared today will be payable on Nov. 3, 1997,

to shareowners of record on Oct. 10, 1997. The company has

approximately 1.3 million registered shareowners and approximately

776.7 million shares of common stock outstanding.

The increase was contemplated by the companies in their definitive

merger agreement and communicated to shareowners in the Sept. 1996

merger proxy statement. In the merger,NYNEX shareowners received 0.768

of a share of Bell Atlantic common stock in exchange for each share of

NYNEX common stock.

The new dividend payment is equivalent to what former NYNEX

shareowners would have received from the NYNEX quarterly dividend of

$.59 per share.

The new Bell Atlantic -- formed through the merger of Bell Atlantic

and NYNEX -- is at the forefront of the new communications,

information and entertainment industry. With 40 million telephone access lines and 5.5 million wireless customers worldwide, Bell Atlantic companies are premier providers of advanced

wireline voice and data services, market leaders in wireless services

and the world's largest publishers of directory information. Bell

Atlantic companies are also among the world's largest investors in

high-growth global communications markets, with operations and

investments in 21 countries.