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UNITED TELECOM TO ASSUME 'SPRINT' NAME; STOCK SYMBOL CHANGES TO 'FON'

UNITED TELECOM TO ASSUME 'SPRINT' NAME; STOCK SYMBOL CHANGES TO 'FON'
 KANSAS CITY, Mo., Feb. 25 /PRNewswire/ -- United Telecommunications, Inc., an $8.8 billion diversified telecommunications company which traces its roots back to 1899, is officially changing its name to Sprint and its stock symbol from "UT" to "FON" effective tomorrow.
 "We are the nation's only major telecommunications company with an extensive position in both the local and long distance markets," said William T. Esrey, Sprint chairman and CEO. "The name Sprint has become one of the world's most highly recognizable corporate identities. By associating Sprint with all our business units, we take a major step toward making the best possible use of our unique position in the industry."
 The FON stock symbol will be the new listing for Sprint common stocks in the New York, Midwest and Pacific stock exchanges. Convertible preferred stock listings on the New York Stock Exchange also will feature the new symbol.
 United Telecom's seven local telephone groups, which serve 4 million subscribers in 17 states, will retain their respective United Telephone names and add the line "A Sprint Company" to signage and corporate identity. United Telecom's telephone directory publishing unit, DirectoriesAmerica, will change its name to Sprint Publishing & Advertising. North Supply, United Telecom's equipment distribution subsidiary, will retain its name and add a "A Sprint Company" to its new identity.
 In conjunction with the change, the nine-square United Telecom logo will be replaced by the familiar red diamond Sprint logo for all local telephone companies, North Supply and Sprint Publishing & Advertising. The process of changing signs, forms, vehicle and equipment insignias will be gradual to minimize costs.
 "United Telecom has been known for years in our industry as a forward-looking company, quick to know where the industry is moving and to aggressively make the most of its opportunities," said Esrey. "We fully intend to continue benefiting from the well-earned value of the United reputation. This change will enable us to develop even greater exposure from the Sprint name and better brand recognition for consumers."
 Founded in July 1986, Sprint has grown into the nation's third-largest long distance provider and has become a major force in international voice, data and video communications. Today, the company operates the nation's only all-digital, fiber-optic network.
 The name change was contingent on United Telecom working out details with GTE Corporation (NYSE: GTE) for the purchase of GTE's remaining 19.9 percent interest in Sprint. The announcement of the transaction was made early last month and called for United Telecom to pay $530 million to GTE. United paid $250 million of that total on Jan. 31. The balance is due on July 1.
 -0- 2/25/92
 /CONTACT: Robin Pence, 202-828-7454 or, after hours, 703-820-1873; Tom Rafferty, 913-624-3234 or, after hours, 913-677-1971, both of Sprint/
 (UT GTE) CO: United Telecommunications, Inc. ST: Missouri IN: TLS SU:


TW -- DC036 -- 2536 02/25/92 16:54 EST
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Publication:PR Newswire
Date:Feb 25, 1992
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