ALBUQUERQUE, Oct. 8, 2002 ? Qwest Communications International Inc. (NYSE: Q) today announced that the New Mexico Public Regulation Commission (PRC) has approved its application to offer long-distance service in New Mexico. The application can now be filed with the Federal Communications Commission (FCC).
?The benefits of real long-distance competition will soon be coming to customers in New Mexico,? said John Badal, Qwest vice president of policy & law for New Mexico. ?New Mexico and ten other states have found that our local markets are open to competitors and that we?ve complied with the Telecommunications Act. Now it?s time to open up the long-distance market to Qwest.?
Badal added, ?The PRC?s action reflects a lot of work on the part of the commission, the staff and Qwest, the result of which will be to bring more long-distance options, better service and lower prices to customers in the state.?
?Through the leadership of the PRC, we are on the verge of providing greater local and long-distance competition to New Mexico and throughout the 14-state region,? said Steve Davis, Qwest senior vice president of policy and law.
Extensive hearings at the PRC concluded that Qwest met all applicable requirements of the Telecommunications Act of 1996. The commission is scheduled to make a formalrecommendation to the FCC supporting Qwest?s application shortly.
Qwest currently provides long-distance services outside of its 14 Western states. However, when Qwest acquired U S WEST on June 30, 2000, Qwest had to divest itself of its long-distance business in those states. Under the Act, Qwest can re-enter the long-distance business in a state once its application to the FCC has been approved.
Separately, on Sept. 30, Qwest refiled an application with the FCC for authority to provide long-distance service in nine states: Colorado, Idaho, Iowa, Montana, Nebraska, North Dakota, Utah, Washington and Wyoming. Although the FCC described the applications as ?razor close? to completion, on Sept. 10, Qwest withdrew the applications responding to the FCC?s questions concerning historical accounting issues related to its long-distance subsidiary. Qwest now has addressed those questions by creating a new long-distance subsidiary ? Qwest Long Distance Corporation (QLDC) ? that does not have the historical financial accounting issues noted by the FCC.
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 55,000 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 assumptions, risks and uncertainties. Readers are cautioned not to place undue reliance on these statements, which speak only as of the date of this release. These statements may differ materially from actual future events or results. Readers are referred to the documents filed by Qwest Communications International Inc. (together with its affiliates, ?Qwest?, ?we? or ?us?) with the Securities and Exchange Commission (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 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 inquiries into Qwest?s 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; failure to achieve the projected synergies and financial results expected to result from the acquisition of U S WEST, and difficulties in combining the operations of the combined company; our future ability to provide interLATA services within our 14-state local service area; potential fluctuations in quarterly results; volatility of Qwest?s 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; adverse developments in commercial disputes or legal proceedings; and changes in the outcome of future events from the assumed outcome included by Qwest in its 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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