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February 12, 1997 CONTACT: Bell Atlantic - Eric Rabe, (215) 963-6531 or NYNEX - Susan Kraus, (212) 395-2355 Bell Atlantic and NYNEX Designate Larry Babbio as President and CEO, Network Group --Announce Additional Organizational Changes-- Bell Atlantic Corporation (NYSE:BEL) and NYNEX Corporation (NYSE:NYN) today announced that Larry Babbio has been named president and CEO of the Network Group, replacing Dick Jalkut, who earlier this week announced his retirement. Babbio has also been designated chairman of the Global Wireless Group in the new Bell Atlantic. Ivan Seidenberg, chairman and CEO of NYNEX, said: "Larry Babbio's extensive telecommunications experience and proven ability make him the right person to lead the Network Group at the new Bell Atlantic. As we continue to integrate, we're drawing on the best talents and practices of both NYNEX and Bell Atlantic." "We no longer look at ourselves as two separate organizations, but as what we are becoming -- the new Bell Atlantic. We're one team, dedicated to delivering superior value to our customers, shareholders and employees," added Raymond W. Smith, chairman and CEO of Bell Atlantic. The new Bell Atlantic will have five operating groups reporting to the Office of the Chairman: The Telecommunications Group, led by Jim Cullen, president and CEO; The Network Group, led by Larry Babbio, president and CEO; The Global Wireless Group, led by Larry Babbio, chairman; The Information Services Group, led by Mat Stover, group president; and The International Telecommunications Group, group president to be announced. In addition, all business development and finance activities in the combined company will be consolidated under Fred Salerno, senior executive vice president and CFO/Strategy and Business Development. Salerno will also report to the Office of the Chairman. "In the new structure, we are consolidating corporate staff, adopting a single enterprise-wide approach to staffing," said Seidenberg. "At the same time, we're incorporating the best operational design. These organizational changes truly represent the best of both companies." The proposed merger between Bell Atlantic and NYNEX was announced April 22, 1996. The combined corporation will serve 39 million telephone access lines in 13 states and more than 4 million cellular customers. Shareowners of both companies overwhelmingly approved the merger at special meetings in November 1996. go to news archive