Verizon Wireless Acquires New Spectrum Serving South Carolina

Verizon Wireless Acquires New Spectrum Serving South Carolina

PCS Licenses Serve Nine Contiguous SC Markets; Service Expansion Planned for Carolina Coastal Areas

January 16, 2002

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BEDMINSTER, NJ

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Verizon Wireless today announced it has acquired 10 MHz PCS licenses from Carolina PCS I Limited Partnership 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 much of its wireless operations in South Carolina -- to handle the future demand for wireless voice and data services and to expand its service coverage into Myrtle Beach and to the north of its operations in Florence and Charleston.

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. (Click here to view coverage map -
http://news.verizonwireless.com/igallery/cpcsmap.vtml).

"This acquisition is good news for our customers in the Carolinas," noted Jerry Fountain, Verizon Wireless president - Carolinas Region. "Not only does it provide some spectrum headroom we need for the delivery of newer products and services down the road, but it also solidifies our competitive position along the coastline. In the future, we'll be operating contiguous networks along the South Carolina coast from the Wilmington, North Carolina border to Charleston, South Carolina."

As part of its commitment to expand operations in the fast-growing Southeast, Verizon Wireless recently announced plans to combine the business operations of Price Communications Wireless - a business serving more than 560,000 customers in 16 markets throughout South Carolina, Georgia, Alabama, and Florida -- with certain assets of Verizon Wireless, in a transaction valued at $1.7 billion.

When the Price transaction closes, expected during the second quarter of 2002, Verizon Wireless will be licensed to serve more than 3.9 million South Carolina residents, or some 98 percent of the state's total population.

About Verizon Wireless

Verizon Wireless is the leading wireless communications provider in the U.S., with the largest wireless network and more than 29.4 million 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). Verizon Wireless has a footprint covering more than 90 percent of the U.S. population, 49 of the top 50 and 97 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.

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