Denver, April 27, 2000 — Qwest Communications International Inc. (NYSE: Q), the broadband Internet communications company, today announced a multimillion dollar, multi-year contract with the United States Mint to host its Internet commerce applications.
Qwest will provide web hosting and professional services, as well as equipment. Other key aspects of the deal include guaranteed network availability; mirrored "east coast/west coast" data centers for geographical efficiency, and high capacity bandwidth, allowing the Mint to have virtually unlimited network space to interact with consumers and businesses.
"The US Mint/Qwest relationship could become a case study for addressing the high growth Internet demand model for goods and services," said Jim Payne, senior vice president of government systems for Qwest. "This is an excellent example of how the Federal Government public sector can utilize commercially available solutions that allow an agency to achieve their mission while getting the best available technology that is scalable and has cutting edge security and redundancy."
The Mint began online sales in April 1999, recorded its first $1 million month in May 1999; its first $1 million week during July last year; its first $1 million day on October 18, 1999, and its first $1 million hour – with $2.7 million in sales in a single hour – on April 3. Total online sales amounted to $26.5 million for the period October 1 through December 31, 1999. The Mint is projecting online sales of more than $125 million this year, placing it among the nation's top e-tailers.
About US Mint An agency of the U.S. Treasury Department, the U.S. Mint is a Fortune 500 size manufacturing and marketing enterprise with $4.0 billion in revenue, $2.7 million in profits and 2,200 employees nationwide. In 2000, the U.S. Mint will strike 29 billion coins and sell, worldwide, $1 billion in collector and investment quality coins through mail order, online, wholesale and retail channels.
About Qwest Qwest Communications International Inc. (NYSE: Q) is a leader in reliable, scalable and secure broadband Internet-based 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 25,500 miles in North America. In addition, KPNQwest (Nasdaq: KQIP), Qwest's European joint venture with KPN, the Dutch telecommunications company, is building and will operate a high-capacity European fiber optic, Internet-based network that will span 11,800 miles when it is completed in 2001. For more information, please visit the Qwest web site at www.qwest.com.
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 maintain rights of way, financial risk management and future growth subject to risks, and adverse changes in the regulatory or legislative environment. This release may include analysts' estimates and other information prepared by third parties, for which Qwest assumes no responsibility. 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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