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SNET BUILDING FOR GROWTH

 SNET BUILDING FOR GROWTH
 NEW HAVEN, Conn., May 13 /PRNewswire/ -- Speaking at the annual


meeting of SNET - Southern New England Telecommunications Corporation (NYSE: SNG) - Chairman and CEO Walter H. Monteith, Jr., told shareholders that the company is preparing for planned growth in the 1990s, continuing to build on three business platforms: network services, wireless communication and publishing.
 "These are the building blocks for the future," Monteith said. "We intend to continually add new products and services and to steadily build a customer base that will use the power of our network to enhance lives, improve education and build business."
 Monteith said that a state-of-the-art network requires significant investment, and that the company invested $300 million last year. This year's modernization will include new digital switching offices, more deployment of fiber optics and further conversion to SS7, a signalling system that makes many new services possible.
 One new service called SNET CentraLink(SM), Monteith said, uses the power of the network to provide smaller businesses with the telecommunications capability of large firms. Introduced at the end of 1991, it is selling well ahead of projections.
 Another new service is SNET SmartLink Service(SM), a series of seven different features including Priority Call Ringing and Caller ID. Tested last year, Monteith said SNET SmartLink will, pending DPUC approval, be introduced this year.
 "We'll develop more services to help people work better and smarter; to help businesses cut costs and generate more revenue," Monteith said.
 In wireless communications, SNET expanded its cellular business, adding a remote switch to handle southwestern Connecticut. It has added four digital compatible cell sites and will add eight more in 1992. It introduced PAGE 2000SM from SNET Paging with full text messaging as a complement to cellular service. In addition, Monteith said, SNET Cellular just announced the trial of a personal access service based on the concept of one person-one number.
 "This new service will be able to offer many of the advantages of the personal communications capability of tomorrow - today," he said.
 A third growth platform is SNET Publishing, where technology has speeded work and streamlined costs. Publishing has developed new forms of advertising and will introduce further new products into the marketplace.
 Daniel J. Miglio, SNET's new president and chief operating officer, presented an overview of SNET during 1991 and the first quarter of 1992. SNET earnings from operations were $2.41 a share for 1991 versus $2.48 a share for 1990. Miglio said that the earnings decline was a direct reflection of the Connecticut economy.
 In the first quarter of 1992, SNET's earnings were up 6.6 percent to $40.1 million or $.65 a share compared with first quarter earnings of $37.6 million or $.61 a share in 1991.
 At the meeting, shareholders elected to new three-year terms five Class III Directors whose terms expired this year. They included: Richard H. Ayers, Chairman and CEO, Stanley Works; Frank J. Connor, Founder and President, Nortay Associates, Inc.; Dr. Burton G. Malkiel, Professor of Economics, Princeton University; Walter H. Monteith, Jr., Chairman and CEO, SNET; and Frank R. O'Keefe, former President, Long Wharf Capital Partners, Inc. The appointment of Coopers and Lybrand, Certified Public Accountants, as SNET's auditors was ratified.
 SNET is an independent telecommunications company that offers through its subsidiaries network and information management services and communications equipment, directory publishing and advertising services, and cellular mobile phone and paging services.
 -0- 5/13/92
 /CONTACT: William Seekamp of SNET, 203-771-2136/
 (SNG) CO: Southern New England Telecommunications Corporation ST: Connecticut IN: TLS SU:


TM -- NE011 -- 9798 05/13/92 15:00 EDT
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Publication:PR Newswire
Date:May 13, 1992
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