Verizon to Bring Its FiOS TV and Internet Services, on the Most Advanced All-Fiber-Optic Network, to Residents of Parkchester Housing Complex in the Bronx

Verizon to Bring Its FiOS TV and Internet Services, on the Most Advanced All-Fiber-Optic Network, to Residents of Parkchester Housing Complex in the Bronx

Agreement With Parkchester, Nation's Largest Privately Owned Condominium Complex, Is Verizon's Largest Such Agreement to Date

NEW YORK, Oct. 21 /PRNewswire/ -- Residents of Parkchester, the largest privately owned condominium complex in the U.S., will soon have access to FiOS, the most advanced, transformational, all-fiber-optic service from Verizon.

Under recently signed agreements with the two condo boards of the northeast Bronx complex, which contains 12,271 apartments in 171 buildings, Verizon will start providing FiOS TV and FiOS Internet services to some residents by year-end. The services will be available in the near future to all residents, who will be able to enjoy more than 100 high-definition (HD) channels on FiOS TV and broadband speeds of up to 50 Mbps (megabits per second) on FiOS Internet service.

Verizon's agreements with Parkchester are the company's largest to date in the urban multiple-dwelling-unit market.

Eric Cevis, vice president of Verizon Enhanced Communities, which markets and sells communications and entertainment services to single- and multiple-home communities said, "This agreement underscores the attractiveness of Verizon FiOS services for property owners to draw residents. It matters which network is connected to your TV, computer and phone. The immense capacity of our all-fiber network means residents at Parkchester will soon have the latest technology that will support future applications."

Built in the late 1930s, Parkchester was the first housing community developed by the Metropolitan Life Insurance Co. and served as a model for the Stuyvesant Town and Peter Cooper Village complexes in lower Manhattan, whose residents -- in 11,232 apartments -- can get FiOS services today.

Verizon's FiOS TV service offers a broad collection of all-digital programming, with more than 500 total channels, including 100 high-definition channels in the New York City metro market. FiOS TV also delivers 11,000 video-on-demand (VOD) titles per month, 70 percent of which are free. The VOD library also includes an increasing number of HD titles, and by year-end, Verizon plans to offer 1,000 HD VOD titles each month.

Verizon FiOS Internet service can deliver Internet access with maximum downstream connection speeds of up to 50 Mbps (megabits per second) on the nation's most advanced digital, all-fiber-optic network. At 50 Mbps, downloading a 1.2 GB (gigabyte), or 90-minute standard-definition movie takes approximately 3.2 minutes. Upload speeds of up to 20 Mbps make it a snap to share purchased videos and files over Verizon's large-scale fiber-optic network that extends all the way to customers' homes or small and medium-sized businesses.

Verizon's FiOS Internet service was named the top pick in PC Magazine's 2008 reader survey and also was named a winner in PC World Magazine's "The 100 Best Products of 2008." It is the second year in a row the broadband service made both lists.

The Parkchester complex is situated on 129 acres of landscaped pathways near the Bronx Park, site of the New York Botanical Garden and the Bronx Zoo, and within walking distance of many retail stores. The complex has basketball courts, playgrounds, handball courts and a ball field, and Parkchester's recreation department offers workshops and classes to its residents.

The plans for FiOS services at Parkchester reflect the competitive advantage Verizon's fiber-to-the-premises (FTTP) network offers developers in marketing their properties.

Since the end of 2005, Verizon has aggressively pursued agreements with multifamily owners to bring FiOS to their communities. To date, Verizon FiOS is available to residents in more than 870,000 apartments across 16 states and the District of Columbia.

For more information about the products and services available through Verizon Enhanced Communities, visit www.verizon.com/communities.

About Verizon

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 nearly 69 million customers nationwide. Verizon's Wireline operations include Verizon Business, which delivers innovative and seamless business solutions to customers around the world, and Verizon Telecom, which brings customers the benefits of converged communications, information and entertainment services over the nation's most advanced fiber-optic network. A Dow 30 company, Verizon employs a diverse workforce of more than 228,600 and last year generated consolidated operating revenues of $93.5 billion. For more information, visit 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 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.

Source: Verizon

CONTACT: Ellen Yu, +1-908-559-3496, ellen.yu@verizon.com, or John
Bonomo, +1-212-321-8033, john.j.bonomo@verizon.com, both of Verizon

Web Site: http://www.verizon.com/
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