Verizon Communications Declares Quarterly Dividend

NEW YORK -- The board of directors of Verizon Communications Inc. (NYSE:VZ) today declared a quarterly dividend of $.385 per outstanding share, unchanged from the previous quarter.

The dividend is payable on Nov. 1, 2001, to Verizon Communications shareowners of record at the close of business Oct. 10. Verizon Communications has approximately 2.8 million individual shareowners and approximately 2.7 billion shares of common stock outstanding.

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 125 million access line equivalents and approximately 28 million wireless customers. Verizon is also the world's largest provider of print and online directory information. A Fortune 10 company with about 260,000 employees and more than $63 billion in annual revenues, Verizon's global presence extends to 40 countries in the Americas, Europe, Asia and the Pacific. For more information on Verizon, visit www.verizon.com.