DENVER, May 6, 1999 -- Qwest Communications International Inc. Chairman and CEO Joseph P. Nacchio today named John A. (Jack) McMaster as chief executive officer of KPNQwest - the new company formed by KPN, the Dutch telecommunications company, and Qwest Communications International Inc. of Denver, Colo. McMaster, 42, was Qwest?s executive vice president of international and had been serving as the lead executive for KPNQwest since the venture was announced in November of 1998.
KPNQwest is building a 9,100 mile Internet protocol-based network to service customers in 40 key markets throughout Europe.
Joseph P. Nacchio, Chairman and CEO of Qwest Communications International Inc., said, ?Jack?s appointment marks an important milestone in the development of KPNQwest, and we are delighted to have him as CEO for this strategic partnership with KPN.?
Wim Dik, KPN Chairman and CEO added, ?Our early development has been dynamic, high-paced and successful, and we are pleased now to consolidate this growth in both the team and the network with Jack?s appointment.?
In his new role, McMaster will direct the completion of the KPNQwest fiber- optic network and expansion of the company?s Internet and broadband communications services.
McMaster today said, ?KPNQwest?s macro-capacity pan-European fiber optic network, its EUnet and Xlink e-commerce and Internet product portfolio, and the talents and entrepreneurial energy of its people, position us uniquely to serve the coming demand for international data services across Europe and the US. The chance to lead the new company on behalf of KPN and Qwest is the opportunity of a lifetime.?
Jack McMaster joined Qwest following a 20-year career at AT&T where he most recently served as Executive Vice President of AT&T?s $22 billion consumer markets business, which included more than 18,000 employees. Previously he was President of the AT&T Atlantic States region.
Jack also served as managing director of AT&T United Kingdom and held assignments in sales, marketing, product management, network operations and human resources.
Jack holds a Bachelor of Science degree in business administration from Manhattan College; a Master of Arts degree in international politics and a Master of Business Administration in international business from New York University; and completed the Program for Management Development at Harvard Business School.
KPNQwest is equally owned by KPN and Qwest. The new company brings together the state-of-the-art fiber-optic networks of the two partners and the Internet services expertise and customer base of EUnet International. The company has 650 employees formerly employed by KPN INS and EUnet International. The company plans to build and operate a high-capacity European fiber optic, Internet Protocol-based network that has 2,100 miles and will span 9,100 kilometers when it is completed in 2001. This network will interconnect with Qwest?s 18,815 mile fiber-optic network in the U.S. KPNQwest will offer a full range of broadband and IP-based communications services.
This press release is not an offer of securities for sale in the United States. Securities of KPNQwest may not be offered or sold in the United States absent registration or an exemption from registration. Any public offering of securities of KPNQwest to be made in the United States will be made by means of a prospectus that may be obtained from KPNQwest and that will contain detailed information about KPNQwest and management, as well as financial statements. This release may contain forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results. Important risk factors that could cause actual results to differ from those contained in the forward-looking statements include 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, KPNQwest's ability to achieve Year 2000 compliance, and adverse changes in the regulatory or legislative environment. KPNQwest 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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