Verizon Wireless To Acquire PCS Licenses Serving South Carolina

Verizon Wireless To Acquire PCS Licenses Serving South Carolina

Company Signs Agreement with Carolina PCS I, LP, For 10 MHz Spectrum to Meet Future Demand for Voice & Data Services

May 29, 2001



Verizon Wireless today announced it has signed an agreement to acquire 10 MHz PCS licenses from Carolina PCS I, LP and its subsidiaries, covering the South Carolina Basic Trading Areas (BTAs) of Anderson, Charleston, Columbia, Florence, Greenville, Greenwood, Myrtle Beach, Orangeburg and Sumter. Financial terms were not disclosed.

The company said it would use the radio spectrum - which overlaps its wireless operations in South Carolina -- to handle the future demand for wireless voice and data services. The total population (POPS) covered by the licenses is about 3.4 million. Major highways in the footprint include Interstates 95, 26, 77, 20, 85 and 385.

The new licenses will become part of the Verizon Wireless South Area, headquartered in Alpharetta, Ga. The company expects to close the transaction in the third quarter of 2001.

About Verizon Wireless

Verizon Wireless is the largest wireless communications provider in the U.S. with more than 27 million wireless voice and data customers. The coast-to-coast wireless provider was formed by the combination of the U.S. wireless businesses of Verizon Communications (NYSE:VZ) and Vodafone (NYSE and LSE: VOD), including Bell Atlantic Mobile, AirTouch Cellular, GTE Wireless and PrimeCo Personal Communications. Verizon Wireless has a footprint covering more than 90 percent of the U.S. population, 49 of the top 50 and 96 of the top 100 U.S. markets. The company, headquartered in Bedminster, NJ, is 40,000 employees strong. Reporters and editors can find more information about the company on the Web at http://www.verizonwireless.com.