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Verizon Investor Presentation Deck

Direct vs. Indirect Channel ARPU - 2005 June YTD Direct Direct 3% higher Indirect Customer Life - 2005 June YTD Direct > 15 months longer Churn - 2005 June YTD Direct Direct > 25 bps lower verizon Indirect Direct channel - higher ARPU, lower churn, longer customer life Indirect channel - higher acquisition cost Direct Indirect Direct Focus Yielding More Valuable Customers

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