Verizon Wireless Chief Hails NextWave License Settlement, Says Verizon Wireless Positioned For Growth

BEDMINSTER, NJ — Verizon Wireless CEO and president Denny Strigl today made the following statement after the Federal Communications Commission (FCC) announced a deal between the Federal Government, Verizon Wireless and other wireless carriers, and NextWave.

"It's too early to pop the champagne corks, but with the Bush Administration's leadership on Capitol Hill to enact legislation that will support the recently-announced settlement, we are encouraged that the NextWave situation will be fully resolved very soon.

"This is a good deal for the Government and wireless operators. The Federal Treasury receives significant revenues, while Verizon Wireless and other winning bidders get the licenses we wanted, at a price we are willing to pay. Verizon Wireless is well poised for continued growth, introducing new markets to our extensive national footprint, adding additional capacity that will be used to improve our award-winning network in major metropolitan areas, and rolling out new advanced services. Our wireless voice and data customers will benefit from our increased ability to offer the quality they've come to expect from Verizon Wireless.

"The sealing of the deal now requires the U.S. Senate and House of Representatives to endorse this settlement. This is the one solution that will work, and we strongly encourage the Congress to act immediately to support it.

"FCC Chairman Michael Powell has led the effort to bring a fair resolution to this matter. I would also like to thank the FCC Commissioners and the FCC staff for their work on these negotiations; the leadership and staffs of the Office of Management and Budget, and the U.S. Department of Justice; NextWave and its investors; and our friends in the wireless industry who have worked so diligently to bring resolution to this matter."

About Verizon Wireless

Verizon Wireless is the largest wireless communications provider in the U.S. with more than 28.7 million wireless voice and data customers. The coast-to-coast wireless provider was formed by the combination of the U.S. wireless businesses of Verizon Communications (NYSE:VZ) and Vodafone (NYSE and LSE: VOD), including Bell Atlantic Mobile, AirTouch Cellular and GTE Wireless. Verizon Wireless has a footprint covering more than 90 percent of the U.S. population, 49 of the top 50 and 97 of the top 100 U.S. markets. The company, headquartered in Bedminster, NJ, is 40,000 employees strong. Reporters and editors can find more information about the company on the Web at http://www.verizonwireless.com.

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