Denver, February 23, 1999 -- Joseph P. Nacchio has been appointed to the position of Chairman and Chief Executive Officer (CEO) of Qwest Communications International Inc. Mr. Nacchio previously was President and CEO of the company.
Qwest also created a new position of President and Chief Operating Officer (COO), and the company has launched a management search for an individual to fill that position. Mr. Nacchio will continue to serve as President, as well as Chairman and CEO, until a new President and COO is appointed.
Philip F. Anschutz will continue to serve as Chairman of the Board of Directors and will serve as Chairman of the Executive Committee.
Qwest Communications International Inc. (Nasdaq: QWST) is a leader in reliable and secure broadband Internet-based data, voice and image communications for businesses and consumers. Headquartered in Denver, Qwest has more than 8,000 employees and 80 sales offices in North America, Europe and Mexico. The Qwest Macro Capacity (SM) Fiber Network, designed with the newest optical networking, will span more than 18,500 route miles in the United States when it is completed in mid-1999. In addition, Qwest and KPN, the Dutch telecommunications company, are forming a venture to build and operate a high-capacity European fiber optic, Internet Protocol-based network that has 2,100 miles and will span 9,100 miles when it is completed in 2001. Qwest also has nearly completed a 1,400-mile network in Mexico. For more information, please visit the Qwest welt;hr size="1" noshade="true" />
This release may contain 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 with the SEC, 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 potential fluctuations in quarterly results, dependence on new product development, rapid technological and market change, failure to complete the network on schedule and on budget, financial risk management and future growth subject to risks, Qwest?s ability to achieve Year 2000 compliance, adverse changes in the regulatory or legislative environment, and satisfactory negotiation and execution of definitive documentation. Qwest undertakes 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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