NEW YORK, Feb. 21 /PRNewswire/ -- Verizon South Inc., a wholly-owned subsidiary of Verizon Communications Inc., today announced that it will redeem the entire outstanding principal amount of its $300 million 7% Debentures, Series F, due April 30, 2041 (the "Debentures") on March 23, 2007. The Debentures were originally issued in denominations of $25.00 and are currently traded on the New York Stock Exchange under the symbol "VZC". The redemption price of 100.00% of the principal amount of the Debentures, plus interest accrued and unpaid to the redemption date, will be payable on March 23, 2007. On and after March 23, 2007 interest will cease to accrue on the Debentures. The name and address of the paying agent for the redemption is: By Mail By Courier By Hand THE BANK OF NEW YORK THE BANK OF NEW YORK THE BANK OF NEW YORK P.O. BOX 396 111 SANDERS CREEK 101 BARCLAY STREET -- 8W EAST SYRACUSE, NY PARKWAY NEW YORK, NY 10286 13057 EAST SYRACUSE, NY ATTN: CORPORATE TRUST ATTN: CORPORATE TRUST 13057 OPERATIONS OPERATIONS ATTN: CORPORATE TRUST OPERATIONS Verizon Communications Inc. (NYSE:VZ), headquartered in New York, is a leader in delivering broadband and other wireline and wireless communication innovations to mass market, business, government and wholesale customers. Verizon Wireless operates America's most reliable wireless network, serving more than 59 million customers nationwide. Verizon's Wireline operations include Verizon Business, which operates one of the most expansive wholly owned global IP networks, and Verizon Telecom, which is deploying the nation's most advanced fiber-optic network to deliver the benefits of converged communications, information and entertainment services to customers. A Dow 30 company, Verizon has a diverse workforce of approximately 242,000 and last year generated consolidated operating revenues of more than $88 billion. For more information, visit http://www.verizon.com/. VERIZON'S ONLINE NEWS CENTER: Verizon news releases, executive speeches and biographies, media contacts, high quality video and images, and other information are available at Verizon's News Center on the World Wide Web at http://www.verizon.com/news. To receive news releases by e-mail, visit the News Center and register for customized automatic delivery of Verizon news releases. DATASOURCE: Verizon Communications Inc. CONTACT: Media, Bob Varettoni, +1-908-559-6388, or Web site: http://www.verizon.com/ http://www.verizon.com/news Company News On-Call: http://www.prnewswire.com/comp/618232.html

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