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BELL ATLANTIC, STET, ANNOUNCE PLANS FOR NEW JOINT VENTURE SOFTWARE COMPANY IN ITALY

 BELL ATLANTIC, STET, ANNOUNCE PLANS FOR
 NEW JOINT VENTURE SOFTWARE COMPANY IN ITALY
 PHILADELPHIA, Dec. 9 /PRNewswire/ -- Bell Atlantic Corporation (NYSE: BEL) and STET today announced plans to form a joint venture company which would be located in Italy and would develop advanced strategic software.
 Raymond W. Smith, chairman and chief executive officer of Bell Atlantic, and Biagio Agnes, chairman and chief executive officer of STET, signed a statement of intent outlining the principal terms and conditions and agreed to move forward with final business agreements that will result in the formation of the joint venture company by mid- 1992.
 The company would develop software systems for internal use by both Bell Atlantic and STET and for external markets worldwide. The software would allow both companies to provide additional quality of service to their internal network management abilities as well as to other customers, such as other PTTs, cellular operators and large corporate users.
 The venture, to be jointly managed by both companies, is expected to employ about 300 Italians and from 20 to 30 Americans.
 "Bell Atlantic is proud to extend our relationship with STET through the formation of this company," said Smith. "Our two companies have a shared vision of the evolution of a communications network. In addition, STET's program to enhance Italian telecommunications is impressive and this joint venture will work to contribute to the success of that effort."
 Bell Atlantic and Italy's operating telephone company, SIP, a subsidiary of STET, have worked together for the past two years on the installation of a large network management system in Italy.
 "This agreement with Bell Atlantic represents another important piece in the mosaic of international cooperation accords which STET is building," said Agnes. It is a joint venture intended to improve service by deploying the most modern software systems. STET Group's customer orientation, its ongoing commitment to service improvement and its international market stance all come together in a single pattern which will see even further commitment over the next few months."
 The Philadelphia-based Bell Atlantic Corporation is the parent of seven operating telephone companies serving more than 17 million access lines. It is also the parent of companies that provide wireless communications in the mid-Atlantic region and business systems services for customer-based information technology, including software, systems integration, hardware and software support and financial services throughout the United States and internationally.
 Bell Atlantic International, one of the subsidiary companies, offers network services and consulting to telephone authorities throughout the world. In Europe, Bell Atlantic operates in eight countries and has its headquarters in Brussels. In conjunction with ICL, Bell Atlantic, in Europe, owns the Sorbus companies, a third party computer maintenance operation. In conjunction with Ameritech, Bell Atlantic International owns majority interest in Telecom Corporation of New Zealand.
 STET is a holding company of the IRI Group, the Italian state-owned industrial conglomerate, with responsibility for telecommunications. SIP, a subsidiary of STET, is the operating telephone company in Italy.
 In 1990, STET growth continued with a consolidated turnover of 19,964 billion lire (U.S. $16.63 billion) and investments totaling 10,610 billion lire (U.S. $ 8.84 billion). STET Group employs about 126,000 people.
 Group subsidiaries contributing to the results operate in various telecommunications areas including telecommunications and value-added services, telecommunications manufacturing; network installation and engineering; publishing products and services; research and development and training. STET also provides consultancy and assistance to telecommunications operators in other parts of the world, particularly in developing countries.
 /delval/
 -0- 12/9/91
 /CONTACT: Nancy Stern Ware of Bell Atlantic Europe, 322-774-1552, or Isabella Tosato of STET Group, 39-6-8589-1, or Nancy Stark of Bell Atlantic, 215-963-6777/
 (BEL) CO: Bell Atlantic Corporation; STET ST: Pennsylvania IN: TLS SU: JVN


KA-MP -- PH006 -- 0442 12/09/91 10:04 EST
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Date:Dec 9, 1991
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