02.01.2000Corporate

GTE Florida Incorporated announces it will redeem two series of its Preferred Stock

IRVING, Texas - GTE Florida Incorporated announced it has begun to notify the record holders of its $1.25 Cumulative Preferred Stock (Cusip 36233-32-05) that it will redeem the issue on March 15, 2000 at $25.60417 per share. This represents a redemption price of $25.50 per share plus accrued and unpaid dividends in the amount of $0.10417 per share that will accrue from February 15, 2000 to March 15, 2000. These securities are currently traded on the New York Stock Exchange under the symbol GLF Pr A.

GTE Florida Incorporated also announced it has begun to notify the record holders of its $1.30 Cumulative Preferred Stock, Series B (Cusip 36233-33-04) that it will redeem these securities on March 15, 2000 at $26.35833 per share. This represents a redemption price of $26.25 per share plus accrued and unpaid dividends in the amount of $0.10833 per share that will accrue from February 15, 2000 to March 15, 2000. These securities are currently traded on the New York Stock Exchange under the symbol GLF Pr B.

Both series of Cumulative Preferred Stock are redeemable through EquiServe (the Paying Agent). Holders of both series of these securities will also receive their regularly scheduled dividend payments on or after February 15, 2000. Questions relating to the redemption of these series of Cumulative Preferred Stock may be referred to
1-800-225-5160.

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