Daniel P. O'Brien named GTE Executive Vice President, Finance, Succeeding J. Michael Kelly

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STAMFORD, Conn. - GTE today announced that it has named Daniel P. O'Brien Executive Vice President, Finance, and Chief Financial Officer, reporting to Chairman and Chief Executive Officer Charles R. Lee, effective immediately.
Mr. O'Brien succeeds J. Michael Kelly, who has been appointed Senior Vice President and Chief Financial Officer at America Online, Inc. and accordingly has resigned his position at GTE, effective June 26.

Mr. O'Brien, 44, most recently was Vice President and Treasurer for GTE Corporation.

Mr. Lee said, "Dan has strong strategic and leadership skills that have prepared him to step into the role as GTE's senior finance executive. Given GTE's strong emphasis on enhancing shareholder value, we have restructured the responsibilities of the position to focus exclusively on all aspects of our financial operations."

"Mike Kelly has been a great asset to GTE during the development of our strategy to become a growth company. We wish him all the best at AOL, one of our premier customers and a company that has become a major force in the communications industry."

Mr. O'Brien, was named Vice President and Treasurer for GTE in July 1997. He was responsible for GTE's worldwide treasury operations, including all capital markets and financing activities, cash management, insurance, risk management, real estate and leasing. Mr. O'Brien previously served as Assistant Treasurer - Capital Markets since October 1995.

He joined GTE in 1983 as Manager - International Operations Analysis for GTE Lighting Products and held positions of increasing responsibility with Lighting Products and GTE's Electrical Products Group, including serving as Vice President Controller for GTE European Lighting from 1991 to 1993, when GTE divested the lighting unit. In 1993, he was named Director - Financial Planning and Strategies in the Corporate Treasury Department.

Mr. O'Brien received a bachelor of science degree in chemistry from Boston College and an MBA from the University of Chicago.

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