DENVER, November 14, 2002 ? Qwest Communications International Inc. (NYSE: Q) today named Rich Baer, 45, general counsel and executive vice president in charge of Qwest?s legal affairs department. Baer previously served as Qwest?s senior vice president and special counsel to Richard C. Notebaert, Qwest chairman and CEO, which included directing the company?s response to ongoing federal investigations and coordination of litigation matters.
Prior to joining Qwest in 2001, Baer was the chair of the litigation department at the Denver law firm Sherman & Howard. During his tenure, Baer represented many of the largest companies in the Rocky Mountain region in a variety of complex lawsuits and arbitrations around the country.
?Rich has demonstrated strong leadership ability and provided sound advice. He will be a valuable member of our senior team,? said Notebaert.
?I am honored to have the chance to work with our new management team and to lead a great group of dedicated attorneys in the Qwest legal department,? said Baer.
The company also said that Drake S. Tempest, 49, general counsel and executive vice president, will resign from the company effective December 8, 2002. Tempest will return to the law firm of O?Melveny & Myers LLP as a partner in its New York office, where he represented national clients in complex mergers and acquisitions, private equity transactions, financings and capital markets transactions before he joined Qwest in 1998.
?Drake has directed some of Qwest?s important achievements, most recently leading the team on the sale of QwestDex and our applications for approval to offer long-distance service in our 14-state local service area. We appreciate his contributions to the company,? said Notebaert. ?On behalf of everyone at Qwest, I?d like to wish Drake and his family well and success with his new position in New York.?
?Qwest grew from a small fiber-optic network enterprise into one of the world?s leading telecommunications companies during my four years here. I am glad to have contributed to the company?s growth and to have helped Dick, the new management team and our 53,000-plus employees reposition Qwest for the future, focused on the ?Spirit of Service,?? said Tempest. ?I have enjoyed being a part of this, but with the completion of the first stage of the QwestDex sale, the opportunity to rejoin my family in New York and contribute to O?Melveny?s growth makes this the right time for the change.?
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 53,000-plus 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: 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; 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; 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; 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.
The information contained in this release is a statement of Qwest's present intention, belief or expectation and is based upon, among other things, the existing regulatory environment, industry conditions, market conditions and prices, the economy in general and Qwest's assumptions. Qwest may change its intention, belief or expectation, at any time and without notice, based upon any changes in such factors, in Qwest's assumptions or otherwise. The cautionary statements contained or referred to in this release should be considered in connection with any subsequent written or oral forward-looking statements that Qwest or persons acting on its behalf may issue. 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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