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BELL ATLANTIC ADOPTS FAS 106

 BELL ATLANTIC ADOPTS FAS 106
 PHILADELPHIA, Jan. 7 /PRNewswire/ -- Bell Atlantic Corporation


(NYSE: BEL) today announced that it plans to record a one-time, non-cash accrual of approximately $1.55 billion, retroactive to January 1, 1991, in conjunction with its adoption of Financial Accounting Standard No. 106 (FAS 106).
 Adoption of this new standard of accounting for retiree health and life insurance benefits will have no adverse effect on on-going results from operations, which are expected to be consistent with analysts' estimates for 1991 earnings per share reflecting the company's previously announced fourth-quarter initiatives.
 This one-time charge represents the after-tax present value of benefits attributable to past service of retired and active employees.
 "We are taking this opportunity to put this past obligation behind us and avoid its impact on future financial results," said Bell Atlantic Vice President and Chief Financial Officer William O. Albertini. "Given that all large companies are required to adopt this accounting standard by 1993 and that both the Financial Accounting Standards Board (FASB) and the FCC have granted permission to adopt it before 1993, implementing the accounting standard beginning with 1991 is the right action at the right time for Bell Atlantic."
 On-going annual expense under FAS 106, after recognition of this past ("transition") obligation, approximates the expense that would have been recognized under the company's prior accounting practices. This is in large part due to previous steps Bell Atlantic has taken which mitigate the incremental effects of adopting FAS 106, including funding a trust, announced January 23, 1990, to help cover the future costs of health-care benefits for current and future associate (formerly, non-management) retirees.
 The FASB requires FAS 106 to be adopted by 1993, but has encouraged earlier adoption. An order released by the Federal Communications Commission (FCC) on December 26, 1991, permits adoption of FAS 106 on or before January 1, 1993, for regulatory accounting purposes and requires that the past obligation be amortized for regulatory purposes. This FCC action does not preclude the company from electing to recognize the entire past obligation for financial reporting purposes in 1991.
 This accrual will be charged against previously reported first- quarter results and will result in the company reporting a loss for the year ended December 31, 1991. The company plans to restate its results for the first three quarters of 1991.
 Bell Atlantic Corporation, based in Philadelphia is the parent company of New Jersey Bell, Bell of Pennsylvania, Diamond State Telephone (Delaware), and the Chesapeake and Potomac Telephone companies of Maryland, Virginia, West Virginia, and Washington, D.C.
 Bell Atlantic also is 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 service and support, and financial services, throughout the U.S. and internationally. In addition, Bell Atlantic International offers network services and consulting to telephone authorities throughout the world and, in conjunction with Ameritech, owns a majority interest in Telecom Corporation of New Zealand.
 /delval/
 -0- 1/7/92
 /CONTACT: Cynthia M. Ciangio of Bell Atlantic, 215-963-6306/
 (BEL) CO: Bell Atlantic Corporation ST: Pennsylvania IN: TLS SU:


MP-SF -- PH003 -- 7157 01/07/92 08:03 EST
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Date:Jan 7, 1992
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