OMAHA, Neb., August 13, 2003 ?The Metropolitan Entertainment & Convention Authority (MECA) today announced that Qwest Communications International Inc. (NYSE:Q) has secured naming rights to Omaha?s new convention center & arena. The MECA board of directors approved the $14 million total package, 15-year naming rights and services agreement, officially naming the $291 million facility ?Qwest Center Omaha.?
Roger Dixon, executive director of MECA, said Qwest?s long and rich history in Omaha makes it a perfect naming rights partner.
?Qwest is one of Omaha?s and Nebraska?s largest and most respected employers, and we?re pleased they have partnered with us on the naming rights,? said Dixon. ?Securing naming rights is in the best interest of Omaha taxpayers, because the vast majority of the revenue from the naming rights will go to the City of Omaha, where it will be used to pay down the city?s bond debt associated with riverfront development.?
?Qwest?s investment in Qwest Center Omaha is one more demonstration of our continued commitment to the economic vitality of Omaha, the state of Nebraska and the Qwest region,? said Rex Fisher, Qwest president for Nebraska. ?Based on Qwest?s heritage, it only makes sense for us to invest in Omaha?s downtown revitalization. Today?s announcement recognizes our 2,100 employees? and nearly 3,000 retirees? dedication to the Spirit of Service, and the positive contributions they have made in helping build this great state. This commitment to Omaha makes it clear that we are here to stay.?
Mayor Mike Fahey said he was pleased that Qwest has secured the naming rights for the new facility.
?In just a few short weeks, Omahans will celebrate the long-awaited grand opening of our fabulous new facility. Qwest Center Omaha is the centerpiece of Omaha?s tremendous reinvestment into our Downtown and Missouri Riverfront, and we will enjoy it for years to come. Our city?s roots are on the riverfront, as is our present and future.?
In addition to naming rights, Qwest is also ensuring Qwest Center Omaha is equipped with state-of-the-art network technology that provides for voice, wireless, video and high-speed data services. A fiber-based network is designed to meet the telecommunications needs of Qwest Center Omaha without interruption.
More information on Qwest Center Omaha can be obtained on the Web site www.qwestcenteromaha.com.
Qwest Center Omaha is Nebraska?s premier convention, entertainment and sports venue. The arena will host an array of events including concerts, sporting events and family shows. The arena is home to the Creighton University Bluejays men?s basketball team, and University of Nebraska at Omaha?s Maverick hockey team. Qwest Center Omaha is the cornerstone of Omaha?s $1.8 billion downtown riverfront revitalization. This revitalization includes new facilities such as the Gallup World Headquarters, First National Bank tower, Union Pacific corporate headquarters, National Parks Service, Omaha Performing Arts Center and Missouri River Pedestrian Bridge, as well as riverfront parks, pedestrian areas, new restaurants and shops.
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 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.
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: unanticipated delays in completing the process of our restatement of historical financial statements and related audits; 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 and certain transactions; 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; delays in making required public filings with the SEC; 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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