Asia PR News

BASKING RIDGE, N.J. and MUMBAI, Oct. 31 /PRNewswire-AsiaNet/ –

Licenses Will Enable Delivery of Advanced Communication Services to
India-Based Multinational Companies

Verizon Business announced today that India’s Department of
Telecommunications has issued Verizon Business India a letter of intent for the
award of licenses for international and national long-distance services.
Receipt of the licenses will further enhance Verizon Business’ ability to
provide advanced telecommunications services to multinational companies with
operations in India, as well as to India-based multinationals.

Verizon Business already holds an Internet service provider license in
India and has various local IP hubs. The company currently provides services
to its multinational customers’ Indian operations through partnerships with
several licensed carriers in India. Upon receipt of the licenses, companies
operating in India will benefit from direct access to Verizon Business’
advanced IP communications portfolio through Verizon Business India, which
will complement Verizon Business’ continuing relationships with its existing
Indian partners.

Verizon Business India plans to offer a full range of services to
multinational customers, including international private-leased circuits with
multi protocol label switching (MPLS), and Internet protocol services. IP and
data network capabilities are planned for launch in Mumbai, Bangalore, Delhi,
Chennai and Hyderabad in 2008.

John Killian, president, Verizon Business, commented: "This is an
important milestone in the provision of services to our customers with
operations in India. India is a strategic market for many of our multinational
customers, and our application for these licenses is part of our continued
investment in global infrastructure to provide the highest levels of services
and capabilities to our customers around the world. We look forward to
building on our existing presence in India to provide advanced communications
services and high-quality support direct to customer operations based there."

Venugopal Dhoot, chairman, Videocon Group, added: "This is a positive step
forward for Verizon Business India and for companies with operations in the
Indian market. India is a fast-growing and increasingly globalised economy,
and we look forward to helping multinational companies operating in region
achieve their global business objectives."

Verizon Business India is the trading name of a joint venture between
Verizon Business and Leo Communications, part of the Videocon group of Mumbai.
Verizon Business holds a 74 percent stake in the joint venture, called Verizon
Communications India Private Limited and doing business as Verizon Business
India; Leo Communications holds the remaining 26 percent.

About Verizon Business
Verizon Business, a unit of Verizon Communications (NYSE: VZ), is a
leading provider of advanced communications and information technology (IT)
solutions to large business and government customers worldwide. Combining
unsurpassed global network reach with advanced communications, security and
other professional service capabilities, Verizon Business delivers innovative
and seamless business solutions to customers around the world. For more
information, visit www.verizonbusiness.com.

About Leo Communications and the Videocon Group
Leo Communications is part of the US$3 billion Videocon Group, one of
India’s leading business houses. Videocon Group is a fully integrated CE & HA
enterprise with backward integration in CRT Glass, Color Picture Tubes and
other key components for the consumer electronics, home appliances and
components industries. The company also operates in the Oil & Gas sector
through its Ravva Oil Field which produces 50,000 barrels of Oil per day. The
Videocon Group has the widest sales & service network in India, supporting
seventeen locally-based factories. In addition, the Group operates facilities
in Italy, Poland, Australia, Oman, China and Mexico. For more information on
Videocon, visit www.videoconindustries.com

SOURCE Verizon Business

CONTACT: Jo Perrin of Verizon Business,
+44-770-252-5868,
jo.perrin@verizonbusiness.com

Company News On-Call: http://www.prnewswire.com/comp/618232.html
Web site: http://www.verizon.com
http://www.videoconindustries.com
(VZ)