Verizon Wireless to Acquire PCS Licenses Serving Little Rock and Pine Bluff Arkansas

BEDMINSTER, NJ — Verizon Wireless today announced it has signed a definitive agreement to acquire 10 MHz PCS licenses from American Wireless License Group, LLC, covering the Arkansas Basic Trading Areas (BTAs) of Little Rock and Pine Bluff, for $7.75 million in cash.

The company said it would use the radio spectrum, which lies adjacent to its license areas in Tennessee, Texas, Louisiana and Mississippi, to expand its network presence substantially in the state of Arkansas. Verizon Wireless customers traveling in the Little Rock and Pine Bluff areas today are served through roaming agreements with other wireless carriers. The total population (POPS) covered by the licenses is over 1.1 million. Major highways covered by the footprint include Interstates 40 and 30.

The new licenses will become part of the Verizon Wireless South Area, headquartered in Alpharetta, GA. The company expects to close the transaction in the second quarter of 2004.

About Verizon WirelessVerizon Wireless is the nation's leading provider of wireless communications. The company has the largest nationwide wireless voice and data network and 36 million customers. Headquartered in Bedminster, NJ, Verizon Wireless is a joint venture of Verizon Communications (NYSE:VZ) and Vodafone (NYSE and LSE: VOD). Find more information on the Web at