DENVER, April 24, 2003 ? Qwest Communications International Inc. (NYSE: Q) today announced that it has been awarded a multi-year data communications services agreement from Grubb & Ellis, one of the world's leading providers of integrated real estate services.
Qwest will supply Grubb & Ellis with virtual private network (VPN) connections among its offices throughout the country. VPN services link businesses with multiple locations via a high-speed, low-cost private connection. Qwest also will provide management services for Grubb & Ellis? VPN.
?We were looking to replace our frame relay network with a wider-reaching VPN and Qwest provided the one-stop network and management solution we were seeking,? said Lyndal Hanna, senior vice president, Information Technology, Grubb & Ellis. ?We were searching for a cost-effective, leading-edge data network ? and Qwest delivered.?
?Qwest is proving to the marketplace that ?Spirit of Service? is more than a tagline in advertisements,? said Clifford Holtz, Qwest executive vice president for global business markets. ?Qwest prides itself on offering tailor-made network services, but we also recognize our customers need to know that their communications service provider will be there to ensure best-in-class customer care. That?s what we?re all about.?
The foundation for Qwest?s communications service offerings is its 170,000-plus-mile global broadband network, which provides a platform for a wide spectrum of services, including Qwest?s comprehensive selection of Web-enabled applications and managed solutions, such as Web hosting, storage, content distribution, applications and virtual private network services.
Qwest Communications International Inc. (NYSE: Q) is a leading provider of voice, video and data services to more than 25 million customers. The company?s 50,000-plus employees are committed to the ?Spirit of Service? and providing world-class services that exceed customers? expectations for quality, value and reliability. For more information, please visit the Qwest Web site at www.qwest.com.
About Grubb & Ellis
With access to collective resources of more than 8,000 people in over 200 offices in 31 countries, Grubb & Ellis is one of the world's leading providers of integrated real estate services. The company provides a full range of real estate services, including transaction, management and consultative services, to users and investors worldwide through its domestic offices and affiliates, global strategic alliance with Knight Frank, one of the leading property consulting firms in Europe, Africa and Asia Pacific, and with Canada?s Avison Young. For more information, visit the company's Web site at www.grubb-ellis.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 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: the duration and extent of the current economic downturn in our 14-state local service area, including its effect on our customers and suppliers; the effects of our anticipated restatement of historical financial statements including delays in or restrictions on our ability to access the capital markets or other adverse effects to our business and financial position; our substantial indebtedness, and our inability to complete any efforts to de-lever our balance sheet through asset sales or other transactions; any adverse outcome of the SEC's current investigation into our accounting policies, practices and procedures; any adverse outcome of the current investigation by the U.S. Attorney's office in Denver into certain matters relating to us; adverse results of increased review and scrutiny by Congress, regulatory authorities, media and others (including any internal analyses) of financial reporting issues and practices or otherwise; the failure of our chief executive and chief financial officers to provide certain certifications relating to certain public filings; rapid and significant changes in technology and markets; any adverse developments in commercial disputes or legal proceedings, including any adverse outcome of current or future legal proceedings related to matters that are the subject of governmental investigations, and, to the extent not covered by insurance, if any, our inability to satisfy any resulting obligations from funds available to us, if any; our future ability to provide interLATA services within our 14-state local service area; potential fluctuations in quarterly results; volatility of our stock price; intense competition in the markets in which we compete, including the likelihood of certain of our competitors emerging from bankruptcy court protection or otherwise reorganizing their capital structure and competing effectively against us; changes in demand for our products and services; 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; adverse changes in the regulatory or legislative environment affecting our business; and changes in the outcome of future events from the assumed outcome included in our significant accounting policies.
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