DENVER, June 26, 2003 ? Qwest Communications International Inc. (NYSE:Q) today received unanimous approval from the Federal Communications Commission (FCC) to re-enter the long-distance business in Minnesota. Qwest provides local service to nearly 2.2 million customer lines in the state. With today?s action, Qwest has FCC approval to offer long-distance service everywhere in its local service territory except Arizona.
?We?re pleased that Minnesotans will soon join millions of other customers in the Qwest region who are enjoying the benefits of real long-distance competition,? said Steve Davis, Qwest senior vice president of public policy. ?We?ve worked long and hard on getting region wide approval to re-enter the long-distance business and we?re now one step away from success.?
Qwest anticipates launching its long-distance calling plans and taking customer orders in early July. With Qwest?s new long-distance offerings, the company continues to deliver the Spirit of Service? through simple pricing, the convenience of one bill and additional savings for customers who purchase a package of Qwest services.
?Qwest?s competitive long-distance plans have been the clear choice for over one-million customer lines in 12 states,? said Annette Jacobs, president of Qwest consumer markets group. ?Now, Minnesota customers can add Qwest Long Distance to their suite of Qwest services; and benefit from the savings, service and convenience they have come to expect from Qwest.?
Qwest has spent more than $3 billion to open its local markets to competitors and comply with the Telecommunications Act of 1996. Under the act, Qwest can re-enter the long-distance business in states in its local service territory once its application to the FCC has been approved. Qwest plans to file an application for long-distance authority in its final state, Arizona, within the next few months.
?We commend the FCC for its comprehensive and exhaustive review of our long-distance application,? Davis added. ?Today?s approval confirms that our local markets are open to competition and that we have met the requirements of the Telecommunications Act of 1996.?
Residential and business customers in Qwest?s local service territory could save more than $1 billion annually with Qwest?s re-entry into the regional long-distance business, based on a study by Professor Jerry A. Hausman, director of the Massachusetts Institute of Technology Telecommunications Research Program.
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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