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Dominican Republic's Leading Phone Company, CODETEL, Changes Name to Verizon

Branding Strengthens Verizon's Presence in the Americas and Local Company's Business Leadership

News Release

February 2, 2004 –

SANTO DOMINGO, Dominican Republic - CODETEL, the largest telecommunications company in the Dominican Republic, now has a new name -- Verizon.

The name change was announced yesterday at the National Theater of Santo Domingo in a ceremony to welcome the Verizon brand to the Dominican Republic. The blue and white colors associated with CODETEL (Compañía Dominicana de Teléfonos) were replaced with Verizon's red, white and black colors.

"Our main objective is to capitalize on the local strengths our customers associate with CODETEL and the global standard of excellence which distinguishes Verizon," said Jorge Ivan Ramirez, president of Verizon in the Dominican Republic. "CODETEL has a long and proud history serving its customers, and this step reinforces our continuing commitment to help our customers make progress every day in everything we do."

Verizon Communications owns 100 percent of the company, which is the leading local, long-distance and wireless telephone service provider in the Dominican Republic.

"This is a significant step toward strengthening our presence in the Americas and our commitment to build the most respected brand and reputation in the industry," said Daniel C. Petri, president of Verizon International. "The strength of the Verizon brand, combined with CODETEL's reputation for excellent customer service, will deliver an exciting and superb customer experience to the Dominican Republic."

Verizon Wireless customers in the United States and wireless customers of the Dominican Republic company can already take advantage of roaming capability between the two countries. The service became active in November.

A multi-media advertising campaign will introduce customers in the Dominican Republic to the Verizon brand. Broadcast, print and radio ads will focus on the quality and reliability that characterize Verizon.

In addition to the Dominican Republic, Verizon's presence in the Caribbean and in the Americas includes Puerto Rico Telephone, which already uses the Verizon Wireless brand; CANTV in Venezuela; and TELUS in Canada.

Verizon Communications

A Fortune 10 company, Verizon Communications (NYSE:VZ) is one of the world's leading providers of communications services, with approximately $68 billion in annual revenues. Verizon companies are the largest providers of wireline and wireless communications in the United States. Verizon is also the largest directory publisher in the world, as measured by directory titles and circulation. Verizon's international presence includes wireline and wireless communications operations and investments, primarily in the Americas and Europe. For more information, visit www.verizon.com.

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Comunicado de Prensa en Español

Media Contact:Ivette Mendez, Verizon, 973-649-4834
Ingrid Modeste, Verizon, Dominican Republic, 809-220-2181

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