March 18, 2002 ? Qwest Cyber Solutions and Loudcloud, Inc. (NASDAQ: LDCL), today announced a multi-year agreement with Freddie Mac, a leading mortgage financier. Freddie Mac has selected the two companies to deploy, manage and monitor Internet operations for its Home Value Suite (HVSuite) of Web-based products that accelerates the processes of getting people into homes they can afford and keep.
Freddie Mac will outsource the Web site operations management of HVSuite to Loudcloud and its systems will be run out of Qwest?s state-of-the-art Newark, N.J., CyberCenter(sm). The HVSuite includes its flagship product, Home Value Explorer, an Automated Valuation Model (AVM) that provides instant estimates of current residential property values in all 50 states and the District of Columbia. Lending institutions can use it for home value estimates for a variety of business applications including processing second mortgages, home equity loans, and home equity lines of credit. Some institutions also use it for quality control and loss mitigation.
?Our goal is to bring innovative mortgage products to the market that use technology to simplify the mortgage process,? said Bud Sottili, director strategic information services, Freddie Mac. ?Loudcloud?s automated managed services help us do that and also give us a technically superior architecture that supports our open standards applications. Qwest provides a solid, reliable network to grow the application.?
The entire HVSuite, and Home Value Explorer, will be managed and monitored on a 24/7 basis by Loudcloud using its unique Opsware? technology, which automates many of the tasks that would otherwise be performed manually. Qwest Cyber Solutions will provide Freddie Mac with a reliable broadband solution, including direct access to Qwest?s 190,000 global network and secure CyberCenter facilities.
?Freddie Mac?s decision is a testament to our ongoing commitment to the Web hosting industry,? said Doug Stone, CEO, Qwest Cyber Solutions and hosting. ?Our leadership in hosting infrastructure, coupled with Loudcloud?s industry-leading operations, ensures that Freddie Mac will have the quality of service it requires.?
?Loudcloud enables corporations to cost-effectively manage the infrastructure of their Internet operations,? said Ben Horowitz, CEO, president and co-founder of Loudcloud. ?By using Loudcloud and Qwest to streamline its Internet efforts, simplify its operations, and save time and money, Freddie Mac has the flexibility to grow its online platform to better serve their customers.?
This joint win is based on the relationship between Qwest and Loudcloud signed in August 2001. Through the agreement, Qwest Cyber Solutions and Loudcloud jointly deliver an end-to-end managed application hosting solution by leveraging Qwest?s North American and KPN Qwest?s European CyberCenters and Loudcloud?s managed services offering. The companies offer the solution to both existing and new customers who want to outsource the operational and technical tasks associated with complex Internet and Web-based application management.
About Freddie Mac
Freddie Mac is a stockholder-owned corporation established by Congress in 1970 to support homeownership and rental housing. Freddie Mac purchases single-family and multifamily residential mortgages and mortgage-related securities, which it finances primarily by issuing mortgage passthrough securities and debt instruments in the capital markets. Over the years, Freddie Mac has opened the doors for one in six homebuyers and more than two million renters across America. For additional information about Freddie Mac, see the Company?s web site: www.freddiemac.com.
About Loudcloud, Inc.
Loudcloud is the leading managed services provider, offering a complete solution to enterprise customers for outsourcing global Internet operations. Loudcloud deploys, manages, secures, scales, and monitors e-business systems using its unique Opsware technology, which automates functions otherwise done manually, delivering higher quality, cost savings, and increased flexibility. Loudcloud manages its systems via a worldwide network of data centers and Loudcloud Operations Centers located in North America and Europe. For more information on Loudcloud, please visit our Web site at www.loudcloud.com.
Wholly owned by Qwest Communications International Inc. (NYSE: Q), Qwest Cyber Solutions is a leader in providing managed applications and hosting services to enterprises.
Qwest Communications International Inc. (NYSE: Q) is a leader in reliable, scalable and secure broadband data, voice and image communications for businesses and consumers. The Qwest Macro Capacity® Fiber Network, designed with the newest optical networking equipment for speed and efficiency, spans more than 190,000 miles globally. For more information, please visit the Qwest Web site at www.qwest.com.
This release may contain projections and other forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results. Readers are referred to the documents filed by Qwest Communications International Inc. (together with its affiliates, ?Qwest?, ?we? or ?us?) with the Securities and Exchange Commission, specifically the most recent reports which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements, including but not limited to: potential fluctuations in quarterly results; volatility of Qwest?s stock price; intense competition in the markets in which we compete; changes in demand for our products and services; the duration and extent of the current economic downturn, including its effect on our customers and suppliers; adverse economic conditions in the markets served by us or by companies in which we have substantial investments; adverse results of review and scrutiny by regulatory authorities, media and others of financial reporting practices; dependence on new product development and acceleration of the deployment of advanced new services, such as broadband data, wireless and video services, which could require substantial expenditure of financial and other resources in excess of contemplated levels; higher than anticipated employee levels, capital expenditures and operating expenses; rapid and significant changes in technology and markets; adverse changes in the regulatory or legislative environment affecting our business; adverse developments in commercial disputes or legal proceedings; delays in our ability to provide interLATA services within our 14-state local service area; failure to maintain rights-of-way; and failure to achieve the projected synergies and financial results expected to result from the acquisition of U S WEST, and difficulties in combining the operations of the combined company. This release may include analysts? estimates and other information prepared by third parties for which we assume no responsibility. We undertake no obligation to review or confirm analysts? expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
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