Mass. DPU concludes review of NYNEX-Bell Atlantic merger; New York PSC issues briefing schedule

January 23, 1997

CONTACT: Susan Kraus 212-395-0500

Jack Hoey 617-743-3677

Mass. DPU concludes review of NYNEX-Bell Atlantic merger; New York PSC issues briefing schedule

Boston, MA -- Jan. 23 -- The Massachusetts Department

of Public Utilities today concluded its investigation into

the public interest aspects of the proposed merger of NYNEX

and Bell Atlantic and stated that NYNEX has satisfied state

regulatory requirements to implement the merger.

The department noted that there is no statutory

requirement that NYNEX obtain the department's approval of

the merger.

Five of the seven states in the NYNEX region have

either approved the merger or have not sought jurisdiction

over it. Commissions in Vermont and New York are still

conducting their reviews. The New York Public Service

Commission yesterday issued a final briefing schedule, with

initial briefs due Feb. 5 and reply briefs due Feb. 12. The

next commission meeting following the briefs is scheduled

for March 5 in New York City. Briefs were submitted in

Vermont earlier this month.

Ivan Seidenberg, NYNEX chairman and CEO said, "I look

forward to approval shortly by the Vermont and New York

commissions and to closing the merger in the first quarter.

The vitality of the Washington-New York-Boston corridor

depends on the ingenuity, innovation, and interconnection of

its people. The new Bell Atlantic will fuel the engine of

growth for this information-intensive region."

According to Wayne Budd, NYNEX senior vice president

for New England, NYNEX last year invested $607 million for

digital switches, fiber optic lines, and other capital

improvements in Massachusetts. This year the capital budget

in the state is $625 million. "These infrastructure

investments will benefit the Commonwealth, the company and

its employees," Budd said.

The proposed merger was announced on April 22, 1996.

Shareowners of both companies overwhelmingly approved the

merger at special meetings in early November. The new Bell

Atlantic will serve more than 39 million telephone access

lines and more than 4.5 million cellular customers in 13

states and around the world.

NYNEX is a global communications and media

corporation that provides a full range of services in the

northeastern United States and high-growth markets around

the world, including the United Kingdom, Thailand,

Gibraltar, Greece, Indonesia, the Philippines, Poland,

Slovakia and the Czech Republic. The corporation is a leader

in telecommunications, wireless communications, directory

publishing and video entertainment and information services.

NYNEX is also managing sponsor of FLAG -- Fiberoptic Link

Around the Globe -- the world's longest undersea fiber optic

communications cable.

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