Securities Industry Association And NYNEX Announce Global Connectivity Effort For Financial Community; Contract For Communications Services

June 29, 1995

NYNEX CONTACT: Media Relations,
(212) 395-0500

Securities Industry Association And NYNEX Announce Global Connectivity Effort For
Financial Community; Contract For Communications Services

NEW YORK CITY -- NYNEX and the Securities Industry Association
yesterday (6/28) announced an effort under which NYNEX will take a
leadership role in working with other telephone companies, both foreign
and domestic, to ensure that compatible services are available to SIA
members in New York and other financial capitals around the world. This
will facilitate the creation of a global telecommunications network that
provides state-of-the-art voice and data services.

In addition, the SIA announced it has reached agreement with NYNEX
on a new contract through 1998 that will enable the SIAs members in New
York to upgrade the current NYNEX services they receive to NYNEX
Enterprise Service. To date, the company has received written
confirmations from SIA members to upgrade some 43,000 lines to Enterprise

NYNEX Enterprise Service is a leading-edge, intelligent private
line offering that enables customers in New York to obtain with
unprecedented flexibility the ability to reroute traffic in the event of a
disaster, increase bandwidth to set up videoconferences, and add new
circuits, among other features, in a competitive price package.

Announcements of the global effort and the new contract were made
yesterday at the SIAs Information Management Conference and Exhibit at the
New York Hilton.

Mayor Rudolph Giuliani said: New York City is the leading
information and financial capital of the world. The importance of the
Securities Industry Association and NYNEX effort cannot be understated.
This collaboration is exactly the kind of effort we envision to facilitate
the creation of a technologically advanced global telecommunications
network. The Securities Industry Association has provided successful
leadership and direction, serving the business interests of more than 700
securities firms.

The financial community will attest that the complexities of
setting up international circuits and networks today are mind-numbing,
said John Faccibene, chairman of the SIA New York City Voice and Data
Network Consortium. With differences in technology, cultures, time,
regulations, to name just a few, our members can spend months setting up a
single circuit into a single country. And in a business where wasted
seconds can translate into million of dollars of lost opportunity, this is
simply unacceptable.

Faccibene added: NYNEX has demonstrated its commitment to serving
the needs of the local market. With NYNEX Enterprise Service, the
community has already designated the service to meet our requirements in
the New York market. This state-of-the-art service represents a critical
part of the chain by which we can link New York, the hub of this
community, with other significant world financial capitals. With a
consortium of world-class players behind the SIA, we are asking NYNEX to
take a leadership role to advance the concept of seamless global services
for our member firms.

This contract represents a significant milestone in the SIA-NYNEX
relationship, said Ward MacKenzie, NYNEX vice president, Business Network
Solutions. We accept the SIAs challenge, and are committed to it. But,
more important, NYNEX Enterprise Service represents the standard for
similar services to be established by other carriers to facilitate
seamless global telecommunications for the New York financial community.

The financial industry, through the SIA, has come together to
articulate its global needs, he continued. To satisfy the needs of this
important customer group, NYNEX is taking a leadership role in a strategic
initiative that offers significant growth potential.

NYNEX provides a full range of communications services in the
Northeastern United States and selected markets around the world. The
company has expertise in telecommunications, cable television, directory
publishing, video entertainment, and information network and delivery

SIA is the securities industrys trade association, representing
the business interests of more than 700 securities firms in North America,
which collectively account for about 90 percent of securities firm revenue
in the United States.

NYNEX is a global communications and media company 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 the telecommunications, wireless communications,
cable television, directory publishing
and entertainment and information services.

FAX copies of recent NYNEX news releases are available free of charge, 24
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