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BELL ATLANTIC REPORTS FIRST QUARTER EARNINGS

 BELL ATLANTIC REPORTS FIRST QUARTER EARNINGS
 PHILADELPHIA, April 22 /PRNewswire/ -- Bell Atlantic Corporation


(NYSE: BEL) today reported first-quarter earnings of $.91 per share, compared with a loss of $3.06 per share for the first quarter of 1991. Net income for the quarter was $358.5 million, versus a loss of $1.21 billion reported for the first quarter of 1991.
 Without the previously announced cumulative effect of the change in accounting principle for retiree health and life insurance benefits, first-quarter 1991 earnings were $.88 per share and net income was $344.9 million.
 First-quarter results for 1992 included a one-time, after-tax net gain of $19.2 million attributable to the settlement of various federal income tax matters related to prior periods. This gain was offset by additional depreciation in the company's telephone subsidiaries resulting from sharply higher federal and state depreciation rates and an extraordinary item arising from the early retirement of debt.
 "These results reflect improvement in key business volumes in Bell Atlantic's telephone companies over the first quarter of 1991," said Bell Atlantic Chairman and Chief Executive Officer Raymond W. Smith. "We believe that this may signal the start of the regional economic recovery."
 Total operating revenues for the quarter of $3.02 billion were up slightly over the first quarter of 1991. The increase in revenues was primarily due to increased volumes in the company's telephone subsidiaries, where total revenues grew by 2.3 percent, including local service revenues which increased by 3.8 percent. Total operating revenues also reflected the reduction in investment levels of Bell Atlantic's financial services group and the formation in the third quarter of 1991 of a joint venture between the company's European computer maintenance business and International Computers Limited (ICL), which resulted in a reduction in consolidated revenues.
 Access lines at the end of the quarter totalled 17.9 million, an increase of more than 127,000, or 1.8 percent, over total access lines at the end of the first quarter of 1991. Total access minutes of use for the quarter increased 5.2 percent over the earlier period, while message toll service volumes grew 3.9 percent.
 Total operating expenses, which include on-going business development costs, were $2.35 billion for the first quarter, compared with $2.33 billion for the same quarter in 1991. This increase in expense levels was attributable primarily to increased depreciation costs. Employee expenses were lower due primarily to a reduction of 3,200 management employees through an early retirement program.
 At the end of the first quarter of 1992, Bell Atlantic Mobile Systems' cellular subscribers totalled approximately 334,000, compared with approximately 270,000 at the end of the first quarter of 1991. Subscribers increased 19,000 in the first quarter of 1992 versus an increase of 11,000 in the earlier period.
 "Our wireless company continued to reflect positive results in the first quarter and made great strides when it announced plans to team with four other leading cellular carriers to develop nationwide brands for wireless voice and data services," Smith said. "Mobile Systems also announced two wireless personal communications services (PCS). In Pittsburgh, Mobile Systems, Motorola, and Bell of Pennsylvania this fall will test Personal Phone Service 800 (TM) (A), which will allow one to reach a cellular customer at home, at the office, or on the road with a single phone number. In Washington, D.C., and Baltimore, Mobile Systems this summer will begin offering One Person, One Number (R) (B) service to cellular customers, which integrates cellular, paging, landline, and voice messaging services and provides customers with total control over their incoming calls using the advanced services available with our wireless and landline networks."
 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.
 (A) Personal Phone Service 800 is a trademark of Motorola Inc.
 (B) One Person, One Number is a registered trademark of AccessPlus Communications Inc.
 BELL ATLANTIC CORPORATION AND SUBSIDIARIES
 CONDENSED CONSOLIDATED STATEMENTS OF INCOME
 (unaudited; in millions, except per-share amounts)
 Three Months Ended March 31 1992 1991 (C)
 Operating Revenues
 Communications and Related Services $2,893.6 $2,833.8
 Financial and Real Estate Services 125.6 161.9
 Total operating revenues 3,019.2 2,995.7
 Operating Expenses
 Employee costs, including benefits
 and taxes 939.9 976.7
 Depreciation and amortization 591.6 560.6
 Other 818.6 787.8
 Total operating expenses 2,350.1 2,325.1
 Operating Income 669.1 670.6
 Other income and expense, net 45.2 30.4
 Interest expense, excluding
 Financial Services 164.1 174.6
 Income before provision for income
 taxes, extraordinary item, and
 cumulative effect of change in
 accounting principle 550.2 526.4
 Provision for income taxes 183.4 181.5
 Income before extraordinary item and
 cumulative effect of change in
 accounting principle 366.8 344.9
 Extraordinary item -- early retirement
 of debt, net of tax (8.3) --
 Cumulative effect of change in
 accounting principle -- transition effect
 of change in accounting for post-retirement
 benefits other than pensions, net of tax -- (1,554.3)
 Net Income (Loss) $358.5 $(1,209.4)
 Per Common Share Amounts
 Income before extraordinary item and
 cumulative effect of change in
 accounting principle $.93 $.88
 Extraordinary item -- early retirement
 of debt, net of tax (.02) --
 Cumulative effect of change in
 accounting principle -- transition effect
 of change in accounting for post-retirement
 benefits other than pensions, net of tax -- (3.94)
 Net Income (Loss) $.91 $(3.06)
 Dividends declared per
 common share .65 $.63
 Weighted average number of
 common and equivalent
 shares outstanding 397.7 394.1
 (C) Restated for the adoption of Statement of Financial Accounting Standards No. 106, "Employers' Accounting for Post-Retirement Benefits Other than Pensions," effective Jan. 1, 1991.
 OTHER SELECTED DATA
 Periods ended March 31 1992 1991
 Return on Average Common Equity
 Three months ended (pct.) 17.9 (2.3) (C)
 Total Assets (millions) $27,582.4 27,998.3 (C)
 Total Employees 75,600 81,200
 (C) Restated for the adoption of Statement of Financial Accounting Standards No. 106, "Employers' Accounting for Post-Retirement Benefits Other than Pensions," effective Jan. 1, 1991.
 BELL ATLANTIC MOBILE SYSTEMS, INC.
 SELECTED OPERATING STATISTICS
 (unaudited (D); in thousands, except percentages and revenue)
 Three months ended March 31 1992 1991
 Total Owned POPs 22,200.0 22,100.0
 Controlled MSA POPs 15,623.0 15,532.0
 Controlled RSA POPs 3,220.0 2,588.0
 Subscribers in Controlled Markets 298.4 236.5
 Controlled MSA Penetration (E) (pct.) 1.91 1.52
 Total Subscribers (F) 334.3 269.4
 Total Revenue per Subscriber
 per Month (F)(G) $81 $84
 (D) All figures exclude the paging subsidiary.
 (E) Subscribers in controlled markets (MSA and RSA) as a percent of population in controlled MSAs.
 (F) Includes customers from Bell Atlantic Mobile Systems' reseller operation.
 (G) Total revenue includes access and usage, equipment, and gross roamer revenue into and out of Bell Atlantic Mobile Systems' markets. Mobile Systems does not record "out-roaming" (Mobile Systems' customers roaming on foreign systems) as revenue in its financial statements.
 /delval/
 -0- 4/22/92
 /CONTACT: Cynthia M. Ciangio of Bell Atlantic, 215-963-6306/
 (BEL) CO: Bell Atlantic Corporation; Bell Atlantic Mobile Systems, Inc. ST: Pennsylvania IN: TLS SU: ERN


SF -- PH011 -- 1129 04/22/92 10:01 EDT
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