10.11.2001|Corporate

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

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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.

Verizon Communications

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 largest directory publisher in the world. A Fortune 10 company with about 260,000 employees and more than $65 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.

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