New England Telephone to Redeem 35-Year Debentures

NEW YORK -- Bell Atlantic Corp. (NYSE:BEL) today announced that on May 12, 1999, its wholly-owned subsidiary New England Telephone and Telegraph Company will redeem the entire $200 million outstanding principal amount of its 35-Year, 7 3/8 Percent Debentures, due Oct. 15, 2007.

The subsidiary will pay a redemption price of 100.94% of the principal amount, together with interest accrued to the redemption date. On and after May 12, 1999, interest on such debentures will cease to accrue.