Verizon Wireless, Nextel Settle Two Lawsuits

BEDMINSTER, NJ and RESTON, VA — Verizon Wireless and Nextel Communications announced today that they have reached an amicable resolution of two lawsuits filed last summer. Verizon Wireless filed suit against Nextel in June 2003 in the U.S. District Court for the Eastern District of Virginia, involving Nextel's use of two v60p handsets in June 2003. Nextel filed suit against Verizon Wireless in September 2003 in the U.S. District Court for the Southern District of New York, involving Verizon Wireless' advertising of its walkie-talkie product. As a result of the settlement, both suits will be dismissed. The terms of the settlement are confidential.####