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Verizon Fact Sheet
May 2007
(All statistics as of first-quarter 2007 unless noted. Updated quarterly)

WHO WE ARE
Verizon is a global leader in delivering innovation in communications, information and entertainment. We offer consumers, business and government first-in-class voice, data and video services over superior wireline and wireless networks. We believe that, by delivering the innovation customers want, we will win in the marketplace, create value for shareowners and make a positive impact on the communities we serve.

VERIZON COMMUNICATIONS INC.

Three network-based businesses: Verizon Wireless, Verizon Telecom, Verizon Business
Headquarters in New York City; Operations Center in Basking Ridge, N.J.
Dow 30 company
Directories publishing business (Idearc) spun off in Nov. 2006
44.2 million U.S. wireline access lines
Most reliable wireless network serving 60.7 million customers
More than 100 million people touch Verizon networks daily

Financial
$88.1 billion in annual revenue (2006)
Net income before special items (non-GAAP): $7.4 billion (2006)
Fortune 500 rank: 13
2006 diluted adjusted earnings per share (non-GAAP): $2.54
Net cash provided by operating activities - continuing operations: $23 billion (2006)
Capital investments: $17.1 billion (2006)
Dividends paid: $4.7 billion (2006)
Annual dividend per share: $1.62 (2006)
Shareowners: 2.5 million
Shares outstanding: 2.9 billion
Pension plan assets: $41.5 billion

Employees
238,000 employees
$22 billion provided in annual compensation and benefits (2006)
$3.5 billion in annual spending for health-care coverage for more than 900,000 employees, retirees and family members (2006)
$5.8 billion provided in retiree benefits (2006)
Approximately 40 percent of employees are union-represented (2006)
34 percent of Verizon's employees are minorities (2006)
38 percent of Verizon's management team are minorities (2006)

VERIZON WIRELESS

Largest U.S. wireless provider based on $38 billion in revenue (Prior to intracompany eliminations) (2006)
Most reliable wireless network serving 60.7 million customers
66,000 employees
49 of top 50 U.S. markets served
Network reaches more than 260 million Americans
Best churn rate (customer turnover per month) in industry: 1.1 percent
61.5 percent of our voice customers also use our data services
22.3 billion text messages exchanged in 1Q07 alone
Joint venture with Vodafone (Verizon owns 55 percent)

Verizon Wireless: Key Products and Services
Technology: Code Division Multiple Access (CDMA)
The nation's first wide-area wireless broadband network
BroadbandAccess and NationalAccess services for wireless Internet connections coast-to-coast on laptops, PDA's and handsets at broadband speeds
The nation's first wireless consumer 3G (third-generation) multimedia service
V CAST for video clips, 3D games and other multimedia services
V CAST Music for downloading music, listening to tunes and watching music videos
Get It Now for text and picture messaging, downloading ringtones, ringback tones, games, news alerts and more

VERIZON BUSINESS

$20.7 billion in revenue (Prior to intracompany eliminations) (2006)
130,000+ customer relationships
31,800 employees
Created by merger of Verizon and MCI in Jan. 2006
Serves 94 percent of Fortune 500
321 offices in 75 countries across six continents
Global IP footprint serving 2,700 cities in 150 countries
Investment in more than 65 submarine cable systems worldwide
Eight satellite facilities throughout continental U.S., plus Hawaii and Guam

Verizon Business: Key Products and Services
Technology: IP-based global network
One of the most expansive IP backbone networks in the world
Local to global reach with 18,800 local IP points of presence
Secure global network with next-generation IP Products and IT Services, including wired-to-wireless networking, security, hosting, managed services, business continuity, storage and more
Advanced IP applications such as virtual private networks, VoIP and hosting services
No. 1 communications provider to the federal government

VERIZON TELECOM

$32.9 billion in revenue (Prior to intracompany eliminations) (2006)
135,800 employees (2006)
99.99+ percent in network reliability
Average of 1.2 billion calls connected per day
Nation's largest all-fiber network connected directly to customers
FiOS Internet and FiOS TV services over Verizon's fiber-to-the-premises network Verizon Telecom: Key Products and Services
Technology: Networks evolving to fiber-to-the-premises with FiOS high-speed fiber services for consumers and small to medium-sized businesses
FiOS Internet Service (Consumers)
- speeds of up to 50 Mbps (megabits per second) downstream and 5 Mbps upstream
- 864,000 FiOS Internet customers
- nearly 6.8 million premises passed in 16 states
FiOS TV (Consumers)
- Access to more than 200 all-digital channels
- 8,000 video-on-demand titles and up to 27 high-definition TV channels
- 348,000 FiOS TV customers
DSL Internet access: Available to over 80 percent of households served
Products for small and medium-sized business include
- FiOS Internet Service and DSL for Business
- Data Services such as T1/T3, Frame Relay, and ISDN-PRI

VERIZON: A GOOD CORPORATE CITIZEN

Verizon purchased more than $2.6 billion in goods and services from minority-owned businesses (2006)
$69.4 million given by the Verizon Foundation to local charities (2006)
600,000 hours donated to nonprofit organizations by employees (2006)
$14.5 million contributed or raised by the Verizon Volunteers program (2006)
11,280 nonprofit organizations receiving time or money from employees (2006)
$13.9 million in matching gifts to nonprofits (2006)
910,000 phones collected by the Verizon Wireless HopeLine program to assist victims of domestic violence (2006)
No.1 on DiversityInc's 2006 list of the "Top 50 Companies for Diversity"
Working Mother magazine's 2006 list for "100 Best Companies for Working Mothers" and 2006 and 2007 lists for "Best Companies for Women of Color"

FAST FACTS

One of the largest private fleets in U.S. – 59,000 motor vehicles (2006)
169 million square feet of real estate covering 33,000 buildings (2006)
$151 billion in payroll, receivables, payables and remittance transactions processed annually (2006)
$33 billion in annual procurements (2006)
28 percent – the increase in Verizon's health-care costs over the past three years (2006)
900,000 employees, retirees and family members served by Verizon Human Resources (2006)
$7 billion paid by Verizon in 2006 federal, state and other taxes, net of refunds

KEY MESSAGES

Customers First:

Technology that Touches Life:

Creating the Broadband Future for America:

Great Place to Work:

Winning the Right Way: