Verizon and Granite Sign Commercial Agreement for Wholesale Services

NEW YORK and QUINCY, Mass. - Verizon and Granite Telecommunications today announced they have signed a definitive commercial agreement that will replace the existing wholesale network leasing arrangement known as Unbundled Network Element Platform (UNE-P) used to serve mass market and small-business customers.

Verizon's Wholesale Advantage agreement with Granite Telecommunications includes restructured pricing and a number of high-value services not offered under the existing government-mandated UNE-P plan. Verizon's Wholesale Advantage offer provides a framework for reaching agreements on negotiated, commercially reasonable terms, and ensures the continued availability of wholesale services.

Granite Telecommunications is one of Verizon's largest buyers of wholesale services under the current UNE-P system. The company serves customers in 28 states where Verizon has a presence. Nationally, Granite serves over 200,000 local lines in 49 states.

"This agreement between Granite and Verizon demonstrates once again that carriers can forge solutions that bring stability to the market and benefit end-user customers," said Virginia Ruesterholz, president of Verizon's Wholesale Markets Group. "I am pleased we are expanding our relationship with Granite."

Rob Hale, Granite's president, said, "Granite is pleased to solidify our future with Verizon. Our customers are our priority; this contract gives them clarity for years to come. Strong service, useful software and meaningful savings will continue for our growing base of 5,000 customers."

Verizon Communications

A Dow 30 company, Verizon Communications (NYSE:VZ) is one of the world's leading providers of communications services, with approximately $68 billion in annual revenues. Verizon companies are the largest providers of wireline and wireless communications in the United States. Verizon is also the largest directory publisher in the world, as measured by directory titles and circulation. Verizon's international presence includes wireline and wireless communications operations and investments, primarily in the Americas and Europe. For more information, visit www.verizon.com.

Granite Telecommunications

Granite Telecommunications is a privately held nationwide wholesaler of telecom services. With over $100 million in annual revenues, Granite services 5,000 customers in over 50,000 locations in 49 states. Forty of the Fortune 100 companies utilize Granite services. For more information, visit www.Granitenet.com.