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CITICORP AWARDS MCI $250 MILLION AGREEMENT TO PROVIDE TELECOMMUNICATIONS SERVICES; MCI'S LARGEST COMMERCIAL AGREEMENT

 CITICORP AWARDS MCI $250 MILLION AGREEMENT TO PROVIDE
 TELECOMMUNICATIONS SERVICES; MCI'S LARGEST COMMERCIAL AGREEMENT
 NEW YORK, May 8 /PRNewswire/ -- Citicorp (NYSE: CCI), the nation's largest banking company, announced today that it has selected MCI Communications Corporation (NASDAQ: MCIC) as its primary carrier for U.S. domestic long distance voice services as part of a new, four-year agreement valued at over $250 million.
 The new agreement with Citicorp is the largest commercial contract ever awarded to MCI, according to Bert C. Roberts Jr., MCI's president and chief executive officer. "More importantly," he said, "it demonstrates MCI's ability to meet the exacting communication needs of one of the world's most sophisticated telecommunications users."
 According to the terms of the agreement, MCI will provide Citicorp and its subsidiaries with a full range of domestic voice and related services, including the following:
 -- MCI Vnet -- a virtual private network service which will be used to link thousands of Citicorp's U.S. offices as part of a vast intracompany voice communications network.
 -- MCI 800 Services -- toll free services used by Citibank for customer service and marketing applications.
 -- MCI Vnet Calling Card Services -- custom long distance calling card services that will be used by thousands of Citicorp employees to make business calls when away from their offices.
 -- MCI Forum -- an audio conferencing service.
 "The agreement with Citicorp dramatically strengthens MCI's position as a leader in providing advanced telecommunications services to the nation's largest banks, brokerages and financial services institutions," added Roberts. "We are now the primary U.S. voice long distance provider to the nation's largest bank, Citibank, and the nation's largest brokerage firm, Merrill Lynch."
 The Citicorp agreement becomes MCI's largest commercial contract ever announced. The company's previous largest commercial agreement was a five-year, $150 million agreement to serve as Merrill Lynch and Co., Inc.'s primary telecommunications provider. MCI, headquartered in Washington, offers a full range of domestic and global telecommunications services through one of the world's largest all-digital networks. The company, with 1991 revenue of approximately $8.4 billion, is the second largest long distance provider in the United States and has more than 60 overseas offices in 55 countries.
 -0- 5/8/92
 /CONTACT: Sue Cushing, 914-933-6191, or Frank. J. Walter, 914-933-6292, both of MCI; or Maria Rullo of Citicorp, 212-559-3896/
 (MCIC CCI) CO: MCI Communications Corporation; Citicorp ST: District of Columbia, New York IN: TLS SU: CON


GK-TS -- NY001 -- 7948 05/08/92 08:45 EDT
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Publication:PR Newswire
Date:May 8, 1992
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