News Release

Verizon Wireless Named To Informationweek 500

Collaboration and Customer Knowledge Put Nation's Largest Wireless Provider in the Top 20 on Listing

October 15, 2001

Bedminster, NJ —

Verizon Wireless has been named to CMP Media's InformationWeek 500, a prestigious listing of the largest and most innovative users of information technology. The nation's largest wireless service provider was ranked number 11 out of the top 20.

For 13 years, the InformationWeek 500 has tracked businesses' IT agendas, providing a unique opportunity to understand and examine their business practices across core areas of operations. Companies named to the list - such as Sears, Compaq, and Eli Lilly -demonstrate a pattern of technological, procedural and organizational innovation.

Verizon Wireless, like many InformationWeek 500 companies, dedicates considerable resources to information technology to enhance its wireless service and the customer experience.

The typical InformationWeek 500 company invested an average of nearly $484 million in information technology, or 3.9 percent of revenues. This marks a 9.4 percent increase in spending over last year, when InformationWeek 500 companies spent an average of $442 million on IT. Looking back five years, InformationWeek 500 companies have increased their IT investments at a 26.7 percent compound annual growth rate.

"In a down market, staying competitive is critical, and there's a delicate balance between opportunistic investments and prudent spending," said Rusty Weston, editor of InformationWeek Research. "The findings of the 2001 InformationWeek 500 reinforce past results that early adoption of new technologies is essential to an organization's success."

"We are honored to be included and recognized with such a prestigious group of companies," said Roger Gurnani, vice president and chief information officer, Verizon Wireless. "As a customer-centric company, Verizon Wireless devotes a significant amount of our technology efforts to enhancing the user experience - whether it's to upgrade our customer service operation or make our Web-site more feature-rich. Our innovative IT practices over the past year could not have happened without the collaboration of our nationwide IT Team."

The InformationWeek 500 survey revealed that the top 500 technology users are spending a smaller portion of overall revenue on IT and reviewing their spending plans more frequently. But they are also remaining aggressive on key IT initiatives to hold their edge.

"What defines the leaders in the InformationWeek 500 is an intense focus on customers, a desire to collaborate, and a drive to improve employee productivity," said Stephanie Stahl, editor of InformationWeek.

The InformationWeek 500 is the most detailed source of industry-specific IT budget data. The research project gathered in-depth information directly from companies about how they approach and prioritize their IT investments. The research identified and ranked the companies following an extensive mail, phone, and fax study, as well as a survey of senior IT executives on their organizational priorities and spending plans for the year ahead.

For a full report of the InformationWeek 500 findings and to benchmark your company against its peers on this list, check out www.informationweek.com/iw500.     Informationweek Article

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