Verizon Avenue Named Broadband Provider of the Year

NEW YORK -- Verizon Avenue has been awarded the Cornerstone Award in recognition of excellence in providing broadband service to residential multifamily properties.

Verizon Avenue was named Broadband Provider of the Year by Broadband Properties Magazine. Each year, industry leaders, analysts and writers vote on the Cornerstone Awards, recognizing companies or individuals for accomplishments in broadband and digital cable television service. Winners are selected based on their previous 12 months service to the residential multifamily (multiple dwelling units or MDU) and commercial (multi-tenant units or MTU) properties.

"Verizon Avenue has been doing a tremendous job with its high speed data product in the multifamily industry and we are very happy to be able to present it with this award," said Joel Schofield, executive editor, Broadband Properties Magazine.

Verizon Avenue began offering high-speed Internet service to multifamily properties in April 2001. Through agreements with real estate investment trusts and independent property owners, Verizon Avenue's high-speed Internet service is provided over regular copper phone lines at each property. The company installs Internet-access DSL (digital subscriber line) equipment on-site to connect residents to the Internet. Verizon Avenue's high-speed Internet access is now available to multifamily projects in major metropolitan areas, including Boston, Chicago, Cincinnati, Cleveland, Dallas, Denver, Los Angeles, New York, San Francisco, Seattle and Washington, D.C.

"This is a great honor for Verizon and for the property management firms and real estate investment trusts that have selected Verizon Avenue's services," said William F. Wallace, Verizon Avenue president and chief operating officer. "We concentrate on the unique needs of the MDU market. Our products are designed to make their properties more attractive to potential tenants. It's gratifying to learn that the industry believes our DSL service is the best high-speed Internet service for their properties."

Apartment and condominium community owners have two options when considering Verizon Avenue's services. They can provide the infrastructure and allow renters to handle their own service contracts and costs or buy bulk access for the entire property and include the cost in the rent or condominium fee. There are multiple service packages with each option, including such features as community Web sites.

"With our bulk arrangement, our customers see tremendous savings and their residents never see a bill," said Wallace. "This makes high-speed access a free amenity to the resident -- and a strong marketing and retention tool for the owner."

Verizon Avenue also provides local phone services to multifamily residential properties in California, Colorado, Delaware, District of Columbia, Illinois, Maryland, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Ohio, Oregon, Pennsylvania, Rhode Island, Texas, Virginia and Washington. In addition, long-distance service is available, except in states where Verizon does not yet have approval to offer it.

Verizon Avenue is an indirect, wholly owned separate subsidiary of Verizon Communications, which serves the broadband and telecommunications needs of the MDU market. With more than 900,000 customers, it is a leading provider of packaged data and voice communications for this market.

Verizon Communications (NYSE:VZ) is one of the world's leading providers of communications services. Verizon companies are the largest providers of wireline and wireless communications in the United States, with 135.0 million access line equivalents and 31.5 million Verizon Wireless customers. Verizon is also the largest directory publisher in the world. With more than $67 billion in annual revenues and more than 236,000 employees, Verizon's global presence extends to more than 35 countries in the Americas, Europe, Asia and the Pacific. For more information on Verizon, visit www.verizon.com.