Verizon's 4Q 2006 Results Cap Strong Year of Organic Growth

Verizon Wireless Continues to Lead Its Industry; Verizon Business Again Posts Revenue Growth; Verizon Telecom Maintains Broadband Growth Momentum

NEW YORK — Verizon Communications Inc. (NYSE:VZ) today reported strong fourth-quarter and full-year 2006 financial and operational results, capping a year in which the company’s organic growth initiatives gained momentum in wireless, consumer broadband and global enterprise markets.

Strong Year of Wireline Broadband Growth

Fourth-quarter results at Wireline highlighted a year of strong customer growth in broadband markets, including video.

Verizon’s broadband fiber-to-the-premises (FTTP) network — over which customers receive FiOS Internet and FiOS TV services — passed a total of more than 6 million premises by the end of 2006. This exceeds the company’s year-end target and more than doubles the number of premises passed by year-end 2005.

Availability of FiOS TV service significantly ramped up in the fourth quarter 2006. FiOS TV was available for sale to 2.4 million premises as of year-end — nearly double the number of premises as at the end of the third quarter 2006. Verizon Telecom, which serves wireline residential and small-business customers, had 207,000 FiOS TV customers at the end of its first full year of offering the service, adding 89,000 in the fourth quarter.