Asian Business Association of Los Angeles Honors Verizon for Its Commitment to Supplier Diversity

Verizon's commitment to supplier diversity and its support of the Asian small-business community have earned the company the 2010 Corporate Leadership Award from the Asian Business Association of Los Angeles.

The ABA is honoring Verizon for its efforts to increase access to business opportunities for Asian-owned businesses and the company's commitment to the Asian community as a whole.

"Verizon is a leading-edge company, not just in its products and services, but also in its business practices," said Dennis Huang, president of the Asian Business Association. "Through strong supplier diversity programs for Asian businesses and community outreach, Verizon sets the example for other companies."

Verizon partnered with the ABA to offer the Economic Development & Business Education Program to Asian-American small businesses. The program provides instructional seminars for business owners to help them keep pace with rapid advancements in technology and succeed in the 21st century economy.

"While Verizon is a global company, we conduct our business locally and participate in the development of the communities we serve," said Gene Eng, vice president of Verizon strategic programs. "This recognition by the Asian Business Association reinforces our commitment to supplier diversity and to the Asian-American business community. Reaching out and supporting diverse communities is the right thing to do."

Verizon has a long-standing commitment to provide procurement opportunities for business enterprises owned and controlled by minorities, women, persons with disabilities and service disabled veterans (MWDVBEs).  Supplier diversity is an important element of Verizon's strategy to grow and compete in the marketplace and to provide customers with the highest quality and service.  Diverse suppliers play an increasingly prominent role in Verizon's communities, and the company is committed to including and utilizing MWDVBEs as partners and suppliers to its business.  Cultivating and developing MWDVBE suppliers not only benefits Verizon, but is vital to maintain Verizon's competitive edge in the ever-changing global economy.

Verizon Communications Inc. (NYSE, NASDAQ:VZ), headquartered in New York, is a global leader in delivering broadband and other wireless and wireline communications services to mass market, business, government and wholesale customers.  Verizon Wireless operates America's most reliable wireless network, serving more than 93 million customers nationwide.  Verizon also provides converged communications, information and entertainment services over America's most advanced fiber-optic network, and delivers innovative, seamless business solutions to customers around the world.  A Dow 30 company, Verizon employs a diverse workforce of more than 195,000 and last year generated consolidated revenues of more than $107 billion.  For more information, visit www.verizon.com.