DENVER, February 12, 2002 - Qwest Communications International Inc. (NYSE:Q), the broadband communications company, today announced that it has won a multimillion dollar, multi-year agreement with J. P. Morgan Chase & Co. (NYSE: JPM), a leading global provider of financial services. Qwest will provide JPMorgan Chase with secure, reliable voice and data services for its worldwide operations.
JPMorgan Chase has assets of $694 billion and operations in 50 countries. With relationships with more than 99 percent of the Fortune 1000 companies, the firm is a leader in investment banking, asset management, private banking, private equity, custody and transaction services, and retail and middle market financial services. Qwest's network services will enable JPMorgan Chase to use data and voice communications services to streamline business operations and reduce costs associated with information technology.
"Given JPMorgan Chase's worldwide presence, our network provider must have global capabilities and a high level of security and reliability," said Doug Rennie, managing director, J.P. Morgan Chase & Co. "Qwest's worldwide network and service quality were important elements in our decision to go with them."
"We're pleased that such an esteemed financial services company as JP Morgan Chase has chosen Qwest's services," said Shaun Gilmore, executive vice president, Qwest Global Accounts. "We are confident that Qwest will exceed JPMorgan Chase's expectations and deliver a valuable return on investment."
Qwest Communications International Inc. (NYSE: Q) is a leader in reliable, scalable and secure broadband data, voice and image communications for businesses and consumers. The Qwest Macro Capacity(r) Fiber Network, designed with the newest optical networking equipment for speed and efficiency, spans more than 190,000 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 Communications International Inc. (together with its affiliates, "Qwest", "we" or "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: 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; the duration and extent of the current economic downturn, including its effect on our customers and suppliers; adverse economic conditions in the markets served by us or by companies in which we have substantial investments; 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 our business, delays in our ability to provide interLATA services within our 14-state local service area; 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, and difficulties in combining the operations of the combined company. This release may include analysts' estimates and other information prepared by third parties for which we assume no responsibility. We undertake 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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