Cellco Partnership to Partially Redeem 8.500% Notes

Cellco Partnership d/b/a Verizon Wireless Verizon Wireless Capital LLC to Partially Redeem 8.500% Notes, Due Nov. 15, 2018 NEW YORK, Feb. 28, 2014 -- Verizon Communications Inc. todayannounced that its subsidiaries, Cellco Partnership (the "Partnership") andVerizon Wireless Capital LLC ("Capital" and together with the Partnership, "the"Issuers"), will redeem $1,250,000,000 of their 8.500% Notes, due Nov. 15, 2018(CUSIPS 92344S AG5, 92344S AK6 and U9220 QAD6) (the "Notes"). There is a totalof $2.25 billion in principal amount of the Notes currently outstanding. TheNotes to be redeemed will be selected in accordance with the terms of theindenture governing the Notes and the applicable procedures of The DepositaryTrust Company. The redemption date for the Notes being redeemed will be March30, 2014 (the "Redemption Date"). The redemption price for the Notes being redeemed will be equal to the sum ofthe present values of the remaining scheduled payments of principal andinterest on the Notes being redeemed (exclusive of interest accrued to theRedemption Date), discounted to the Redemption Date on a semiannual basis(assuming a 360-day year consisting of twelve 30-day months) at the TreasuryRate (as defined in the Notes) plus 75 basis points (the "Redemption Price"),plus accrued and unpaid interest on the principal amount being redeemed to theRedemption Date. The Redemption Price will be calculated by the Issuers ortheir agent in accordance with the terms of the Notes on the third business daypreceding the Redemption Date. Interest will cease to accrue on the Notesbeing redeemed on and after the Redemption Date. The name and address of the paying agent for the redemption is: By Mail By Courier By HandU.S. Bank U.S. Bank U.S. BankCorporate Trust Services Corporate Trust Services Corporate Trust ServicesAttn: Registered Payments 60 Livingston Avenue 100 Wall StreetEP-MN-WS2N 1st Fl - Bond Drop Window Suite 160060 Livingston Avenue St Paul, MN 55107-2292 New York, NY 10005St. Paul, MN 55107-2292 Verizon Communications Inc. (NYSE, Nasdaq: VZ), headquartered in New York, is aglobal leader in delivering broadband and other wireless and wirelinecommunications services to consumer, business, government and wholesalecustomers. Verizon Wireless operates America's most reliable wireless network,with nearly 103 million retail connections nationwide. Verizon also providesconverged communications, information and entertainment services over America'smost advanced fiber-optic network, and delivers integrated business solutionsto customers in more than 150 countries. A Dow 30 company with more than $120billion in 2013 revenues, Verizon employs a diverse workforce of 176,800. Formore information, visit www.verizon.com. VERIZON'S ONLINE NEWS CENTER: Verizon news releases, executive speeches andbiographies, media contacts and other information are available at Verizon'sonline News Center at newscenter.verizon.com. The news releases are availablethrough an RSS feed. To subscribe, visit newscenter.verizon.com/corporate/feeds. SOURCE Verizon Communications Inc.

CONTACT: Ray McConville, 908-559-3504, [email protected]