DENVER, March 1, 2001? Qwest Communications International Inc. (NYSE:Q), the broadband Internet communications company, today announced that it has determined the purchase price for its previously announced tender offer for its outstanding 10 7/8 percent Series B Senior Notes Due 2007, 9.47 percent Series B Senior Discount Notes due 2007, and 8.29 percent Series B Senior Discount Notes due 2008, in each case based upon a payment date of March 8, 2001.

The reference yield used to calculate the purchase price was 4.456 percent, which was the yield to maturity on the 4 ¾ percent U.S. Treasury Note due January 31, 2003 on March 1, 2001 at 11:00 a.m. (EST). In each case, the total consideration includes a consent payment of $25.00 per $1,000 original principal amount at maturity, which will only be paid to holders who validly tendered their notes prior to termination of the consent solicitation.

The total consideration for each $1,000 original principal amount at maturity of 10 7/8 percent Notes validly tendered and accepted for payment will be $1,113.57, plus accrued and unpaid interest. The tender offer yield used to calculate the total consideration for the 10 7/8 percent Notes was 4.831 percent, which is the sum of the reference yield and the fixed spread of .375 percent.

The total consideration for each $1,000 original principal amount at maturity of 9.47 percent Notes validly tendered and accepted for payment will be $960.72. The tender offer yield used to calculate the total consideration for the 9.47 percent Notes was 4.906 percent, which is the sum of the reference yield and the fixed spread of .45 percent.

The total consideration for each $1,000 original principal amount at maturity of 8.29 percent Notes validly tendered and accepted for payment will be $932.81, plus accrued and unpaid interest. The tender offer yield used to calculate the total consideration for the 8.29 percent Notes was 4.956 percent, which is the sum of the reference yield and the fixed spread of .50 percent.

The tender offer will expire with respect to each series at 5 p.m. (EST) on Monday, March 5, 2001, unless extended or earlier terminated with respect to a series. All other terms and conditions to the tender offer and consent solicitation are set forth in the Offer to Purchase and Consent Solicitation Statement dated February 5, 2001.

About Qwest

Qwest Communications International Inc. 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 106,000 miles globally. 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 Qwest 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 potential fluctuations in quarterly results, volatility of Qwest's stock price, intense competition in the communications services market, changes in demand for Qwest's 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, rapid and significant changes in technology and markets, adverse changes in the regulatory or legislative environment affecting Qwest's business and delays in Qwest's ability to provide interLATA services within its 14-state local service territory, failure to maintain rights of way, and failure to achieve the projected synergies and financial results expected to result from the acquisition of U S WEST timely or at all and difficulties in combining the operations of Qwest and U S WEST. 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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Contact Information
Media Contact
Matt Barkett
303-992-2085
matt.barkett@qwest.com
Investor Contact
Lee Wolfe
(800) 567-7296
ir@qwest.net