DENVER, July 23, 1997 -- Qwest Communications International Inc. (NASDAQ: QWST) today announced that a large telecommunications service provider has agreed to acquire additional dark fiber routes on Qwest?s ultra-high-capacity network.
Under terms of the agreement, Qwest will sell dark fiber valued at more than $20M to this major telecommunications provider. The project will be completed early next year. The contract also provides options for Qwest to build additional routes for the service provider, which declined to be identified.
"This contract represents another step in our strategy of serving our customers and reducing our capital requirements. By putting more fibers inside our planned cables, we can provide our major customers with lower costs and, at the same time, reduce our costs to build America?s highest-capacity, most reliable fiber optic network," said Joseph P. Nacchio, Qwest?s president and chief executive officer.
Qwest is a facilities-based provider of communications services to interexchange carriers customers. Qwest's construction crews are building a 13,000 mile network using the latest fiber optic technologies and wave-division multiplexing techniques to achieve potential capacities that are the highest in the industry today. By using self-healing SONET rings, and by burying cable in high-strength conduit four to five feet under railroad rights-of-way, Qwest offers superior security and reliability to its customers. Further information is available on the company?s Website located at http://www.qwest.net.
Note to Editors: This release contains or refers to forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that include, among others, (i) statements by Qwest concerning the benefits expected to result from certain transactions, including, without limitation, synergies in the form of increased revenues, decreased expenses and avoided expenses and expenditures that are expected to be realized by Qwest after the closing of such transactions, (ii) Qwest's plans to complete the Qwest Macro Capacity Fiber Network and (iii) other statements by Qwest of expectations, beliefs, future plans and strategies, anticipated developments and other matters that are not historical facts. Qwest cautions the reader that these forward-looking statements are subject to risks and uncertainties, including financial, regulatory environment, and trend projections, that could cause actual events or results to differ materially from those expressed or implied by the statements. Such risks and uncertainties include those risks, uncertainties and risk factors identified, among other places, in documents filed with Securities and Exchange Commission. The most important factors that could prevent Qwest from achieving its stated goals include, but are not limited to, (a) failure by Qwest to manage effectively, cost efficiently and on a timely basis the construction of the Qwest Network route segments, (b) failure by Qwest to enter into additional customer contracts to sell dark fiber or provide high-volume capacity and otherwise expand its telecommunications customer base on the Qwest Network, (c) failure by Qwest to obtain and maintain all necessary rights-of-way, (d) intense competition in Qwest's carrier services and commercial services markets, (e) the potential for rapid and significant changes in technology and their effect on Qwest's operations, (f) operating and financial risks related to managing rapid growth and integrating acquired businesses, (g) adverse changes in the regulatory environment, and (h) failure by Qwest to integrate the respective operations of Qwest and certain acquired businesses or to achieve the synergies expected from certain transactions. These cautionary statements should be considered in connection with any subsequent written or oral forward-looking statements that may be issued by Qwest or persons acting on its behalf. 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. The Qwest logo is a registered trademark of Qwest Communications International Inc. in the U.S. and certain other countries.