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Verizon Also Ranked No. 3 for Overall Recruitment and Retention

    NEW YORK, March 21 /PRNewswire/ -- DiversityInc has named Verizon
 Communications to the No. 6 position on the magazine's 2007 Top 50
 Companies for Diversity list. Verizon has consistently been among the
 magazine's top ranked companies for diversity.
     "Verizon Communications is much different from the average corporation;
 it is a true champion of diversity," said Luke Visconti, partner and
 cofounder of DiversityInc.
     This is the first time Verizon Business was included in the application
 process, along with Verizon's wireline and wireless business groups.
 Verizon also ranked No. 3 for the recruitment and retention of women and
 minorities and No. 8 in recruitment and retention of African-American
 employees.
     The 50 companies, selected from among 317 submissions, were announced
 during a live video webcast Wednesday (March 21). To see the webcast and
 the complete list of Top 50 winners, visit www.DiversityInc.com/top50.
     For the fourth year in a row, the DiversityInc Top 50 companies,
 expressed as a stock index, beat the Standard & Poor's 500, the Dow Jones
 Industrial Average and the Nasdaq on a 10-, five- and one-year basis,
 documenting the connection between good diversity management, excellent
 corporate governance and return on equity for investors.
     Now in its seventh year, The DiversityInc Top 50 Companies for
 Diversity list is the largest benchmark of its kind. The list is determined
 solely from a comprehensive survey of diversity management that measures
 CEO commitment, human capital, corporate communications and supplier
 diversity.
     Verizon established its supplier diversity program more than 20 years
 ago to create mutually beneficial business relationships with a diverse
 body of suppliers, a process that strengthens communities and creates value
 for shareholders. Verizon's goal is to increase year-over-year spending
 with companies owned and managed by minorities, women, people with
 disabilities and Vietnam-era and service-disabled veterans (MWDVBE).
 Verizon spent $2.6 billion last year with such businesses.
     In March, the Women's Business Enterprise National Council (WBENC)
 again named Verizon one of the top American corporations for women's
 business enterprises. The winners were selected on the basis of their
 world-class supplier diversity programs, which offer equal access for
 women's business enterprises in competing for, and winning, corporate
 contracts for goods and services.
     The council also named Verizon one of the top American corporations for
 women's business enterprises in 2006.
     Also this year, Verizon earned a Top 10 ranking on Black MBA magazine's
 list of Top 50 Companies for African-American MBAs to Work. In 2006,
 Verizon was recognized as a leader in workplace practices in numerous
 benchmarks including BusinessWeek, Working Mother magazine, LatinaStyle and
 Black Enterprise.
     Diversity is part of Verizon's culture and an integral part of its
 business strategy, which cuts across all business groups and functions --
 from human resources and supplier relations, to marketing and philanthropy.
 Through its philanthropic arm, the Verizon Foundation, Verizon contributed
 more than $31 million in 2006 to charitable causes and organizations that
 serve minority communities across the country.
     Verizon depends on the unique talents, perspectives and experiences of
 all employees in an increasingly competitive marketplace to be a leader in
 the delivery of broadband and other communication innovations.
     Minority employees account for nearly 34 percent of Verizon's work
 force and make up nearly 38 percent of Verizon's management team. The
 company's recruitment strategy depends on forming partnerships with
 colleges and universities as well as professional and community-based
 organizations. Employees can create their own road map for advancement
 through mentoring, training, education initiatives, and through development
 and leadership initiatives that target high-performing employees, with a
 special focus on identifying women and minorities for developmental
 opportunities.
     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 more than 59 million customers nationwide.
 Verizon's Wireline operations include Verizon Business, which operates one
 of the most expansive wholly owned global IP networks, and Verizon Telecom,
 which is deploying the nation's most advanced fiber-optic network to
 deliver the benefits of converged communications, information and
 entertainment services to customers. A Dow 30 company, Verizon has a
 diverse workforce of approximately 242,000 and last year generated
 consolidated operating revenues of more than $88 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

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