Verizon New England Inc. to Redeem Forty Year 4 1/2 Percent Debentures

NEW YORK - Verizon Communications Inc. (NYSE:VZ) today announced that on Nov. 13, 2001, its wholly owned subsidiary Verizon New England Inc. (formerly known as New England Telephone and Telegraph Company) will redeem the entire $50 million outstanding principal amount of its Forty Year 4 1/2 Percent Debentures, due July 1, 2002.

The redemption price of 100 percent of the principal amount, with interest accrued to the redemption date, will be payable on Nov. 13, 2001. On and after Nov. 13, interest on such debentures will cease to accrue.