VERIZON COMMUNICATIONS INC

Ticker: VZ CUSIP: 92343V104 Class: COM

PAULSON & CO. INC.'s Holding History (CIK: 0001035674)

Note: Option positions (PUT/CALL) are excluded.

Q4 2014

Shares 480,000 Value ($000) $22,454 Avg Close $27.66 Range $25.52 - $29.27

Q3 2014

Shares 7,500,000 Value ($000) $374,925 Avg Close $27.80 Range $26.97 - $30.03

Q2 2014

Shares 8,742,725 Value ($000) $427,782 Avg Close $26.80 Range $25.38 - $27.86

Q1 2014

Shares 8,742,725 Value ($000) $415,891 Avg Close $25.87 Range $24.89 - $26.87

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2014	480,000	$22,454	$27.66	$25.52 - $29.27
Q3 2014	7,500,000	$374,925	$27.80	$26.97 - $30.03
Q2 2014	8,742,725	$427,782	$26.80	$25.38 - $27.86
Q1 2014	8,742,725	$415,891	$25.87	$24.89 - $26.87