Verizon Communications (VZ)

Vodafone Omnitel Dividend

In April 2008, Verizon received a net distribution from Vodafone Omnitel of approximately $670 million, for which taxes were previously recorded.

Discontinued Operations

On March 30, 2007, we completed the sale of our 52% interest in TELPRI and received gross proceeds of approximately $980 million. The sale resulted in a pretax gain of $120 million ($70 million after-tax, or $.02 per diluted share). Accordingly, discontinued operations in the condensed consolidated statements of income for the three months ended March 31, 2007 include the results of operations of TELPRI through the completion of the sale. Verizon contributed $100 million ($65 million after-tax) of the proceeds to the Verizon Foundation during the three months ended March 31, 2007.

Vodafone Omnitel Dividend

In April 2008, Verizon received a net distribution from Vodafone Omnitel of approximately $670 million, for which taxes were previously recorded.

Discontinued Operations

On March 30, 2007, we completed the sale of our 52% interest in TELPRI and received gross proceeds of approximately $980 million. The sale resulted in a pretax gain of $120 million ($70 million after-tax, or $.02 per diluted share). Accordingly, discontinued operations in the condensed consolidated statements of income for the three months ended March 31, 2007 include the results of operations of TELPRI through the completion of the sale. Verizon contributed $100 million ($65 million after-tax) of the proceeds to the Verizon Foundation during the three months ended March 31, 2007.

Vodafone Omnitel Dividend

In April 2008, Verizon received a net distribution from Vodafone Omnitel of approximately $670 million, for which taxes were previously recorded. We anticipate that we may receive an additional distribution from Vodafone Omnitel within the next twelve months.

Discontinued Operations

On March 30, 2007 we completed the sale of our 52% interest in TELPRI and received gross proceeds of approximately $980 million. The sale resulted in a pretax gain of $120 million ($70 million after-tax, or $.02 per diluted share). Accordingly, discontinued operations in the condensed consolidated statements of income for the three months ended March 31, 2007 include the results of operations of TELPRI through the completion of the sale. Verizon contributed $100 million ($65 million after-tax) of the proceeds to the Verizon Foundation during the three months ended March 31, 2007.