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Yes, there are two types of groups you can create. The first is a contact group, it is stored in your Contacts folder and contains entries from your personal contacts and from Brock’s address book. The second is a shared group, this is a group that will appear in Brock’s address book.
Yes, select the contact you want to edit and select Edit. Make the changes you want and select Save. It is important to remember that you can only edit contacts in the folders under My Contacts.