DENVER, August 13, 1997 -- Qwest Communications International Inc. (the "Company) has extended to 5:00 p.m., New York City time, August 18, 1997, its offer (the "Exchange Offer") to exchange its 10-7/8% Series B Senior Notes Due 2007 ("New Notes") for its 10-7/8% Senior Notes Due 2007 ("Old Notes"). The offer had been scheduled to expire at 5:00 p.m. New York City time, on August 13, 1997. Old Notes in the approximate aggregate principal amount of $249 million have been tendered in the Exchange Offer.
Holders of Old Notes who do not tender before 5:00 p.m., New York City time, August 18, 1997, will continue to hold unregistered securities and will have no right to compel the Company to register their Old Notes under the Securities Act of 1933.
Qwest Communications is a rapidly-growing communication services company building a high-capacity, fiber optic technology network for the 21st century. Its 13,000 mile network connecting 92 cities will be complete by the end of 1998. Through its cutting-edge technology, Qwest will deliver high-quality voice, data and video connectivity securely and reliably to businesses, consumers and other communications service providers. Further information on Qwest (NASDAQ: QWST) is available on the company's Web site located at http://www.qwest.net.
Note to Editors: This release contains or refers to forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that include, among others, (i) statements by Qwest concerning the benefits expected to result from certain transactions, including, without limitation, synergies in the form of increased revenues, decreased expenses and avoided expenses and expenditures that are expected to be realized by Qwest after the closing of such transactions, (ii) Qwest's plans to complete the Qwest Macro Capacity Fiber Network and (iii) other statements by Qwest of expectations, beliefs, future plans and strategies, anticipated developments and other matters that are not historical facts. Qwest cautions the reader that these forward-looking statements are subject to risks and uncertainties, including financial, regulatory environment, and trend projections, that could cause actual events or results to differ materially from those expressed or implied by the statements. Such risks and uncertainties include those risks, uncertainties and risk factors identified, among other places, in documents filed with Securities and Exchange Commission. The most important factors that could prevent Qwest from achieving its stated goals include, but are not limited to, (a) failure by Qwest to manage effectively, cost efficiently and on a timely basis the construction of the Qwest Network route segments, (b) failure by Qwest to enter into additional customer contracts to sell dark fiber or provide high-volume capacity and otherwise expand its telecommunications customer base on the Qwest Network, (c) failure by Qwest to obtain and maintain all necessary rights-of-way, (d) intense competition in Qwest's carrier services and commercial services markets, (e) the potential for rapid and significant changes in technology and their effect on Qwest's operations, (f) operating and financial risks related to managing rapid growth and integrating acquired businesses, (g) adverse changes in the regulatory environment, and (h) failure by Qwest to integrate the respective operations of Qwest and certain acquired businesses or to achieve the synergies expected from certain transactions. These cautionary statements should be considered in connection with any subsequent written or oral forward-looking statements that may be issued by Qwest or persons acting on its behalf. 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.
The Qwest logo is a registered trademark of Qwest Communications International Inc. in the U.S. and certain other countries.