Verizon Investor Presentation Deck

Consistent Investment $6,000 $4,000 $2,000 $0 Capital Expenditures (M) 2001 2002 2003 IIEV-DO 2004 2005 June YTD 35% 25% 15% 5% CAPEX as a % of Service Revenue 2001 2002 2003 II EV-DO Funding Growth Efficiently verizon 2004 2005 June YTD 25

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