Verizon New England to Redeem Debentures

NEW YORK -- Verizon Communications Inc. (NYSE:VZ) today announced that on March 6, 2003, its indirect, wholly owned subsidiary Verizon New England Inc. (formerly New England Telephone and Telegraph Company) will redeem the entire outstanding principal amount of its $60 million 4 5/8% Debentures, due July 1, 2005.

The redemption price of 100 percent of the principal amount of the 4 5/8% Debentures, with interest accrued to the redemption date, will be payable on March 6, 2003. On and after March 6, interest will cease to accrue on the debentures.