May 23, 1996

NYNEX CONTACT: Media Relations, (212) 395-0500

NYNEX Chairman Calls For Opening of Telecoms Markets

NEW YORK, NY -- NYNEX Chairman and CEO Ivan Seidenberg urged business leaders and foreign diplomats to push for open markets and increased competition around the world, so that all nations can harness the power of communications to drive economic growth.

"As we near the 21st century, the engine for growth in the post-industrial, information age will be communications," Seidenberg told members of the Business Council for the United Nations at the group's annual symposium, the World Congress. "The explosion of information - the linking of economies - the social benefits - all underscore the importance of communications for developing as well as developed countries."

Seidenberg said that governments have now recognized the value of a robust and reliable telecommunications infrastructure in supporting continued economic growth plans.

Seidenberg cited estimates by The World Bank that it would cost $40 billion per year over six years to narrow the telecommunications gap between industrialized and developing nations.

"The cost is why partnerships are so crucial in today's reality - partnerships between industry and governments - partnerships among industry players - and between industry players," he said.

Seidenberg said the new Telecom Act has opened U.S. markets to significant new opportunities to compete.

"For NYNEX to maximize this opportunity, the time was right to team with a strong industry partner like Bell Atlantic. Last month, NYNEX and Bell Atlantic announced plans for a merger, which will create the second largest telecommunications company in the United States and one of the top five in the world.

"Companies like NYNEX and the New Bell Atlantic are eager to participate in infrastructure growth around the world - as long as governments do their part," said Seidenberg.

Seidenberg said current laws that limit foreign ownership and restrict foreign participation must be changed to achieve global infrastructure growth. "Private and public partnership will remain crucial for developing economies," he said. "All economies should have the same opportunities to use communications to drive growth."

New laws should encourage infrastructure growth through partnerships and joint ventures involving foreign investment, he said.

I urge all of you to continue to work with your governments and business sectors to push for change," said Seidenberg. "Let's work together to make sure everyone is part of our global village."

NYNEX is a global communications and media company that provides a full range of services in the northeastern United States and high-growth markets around the world, including the United Kingdom, Thailand, Gibraltar, Greece, Indonesia, the Philippines, Poland, Slovakia and the Czech Republic.

The Corporation is a leader in the telecommunications, wireless communications, cable television, directory publishing and entertainment and information services.

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