Denver, May 10, 1999 ? Qwest Communications International Inc., an Internet communications company, today said it has reached a strategic milestone with installation of all the required conduit and construction completed on more than 16,200 miles of its 18,500-mile U.S. network.
Qwest's construction of the first nationwide fiber-optic network designed for Internet Protocol (IP) applications and services is scheduled to be completed by June 30, 1999.
With the network nearly complete, Qwest systems are already offering advanced Internet-based networking and application services. Qwest's nationwide OC-48 IP backbone is the highest speed IP over SONET network available today, connecting major U.S. markets including hubs in Atlanta, Chicago, Dallas, Houston, Kansas City, Los Angeles, San Francisco, San Jose, Seattle, New York, and Washington, DC. Qwest also is building network capacity for local broadband connectivity in 19 key markets around the U.S. Construction began on the Qwest network in 1994.
The scalability, reliability and security of the network continues to attract businesses, as evidenced by the fact that Qwest has contracts in place or in the proposal stage with 48 of the Fortune 50 companies and 300 other major companies and government agencies. In addition to providing customers with the most robust broadband capacity available, Qwest offers advanced Internet-based services such as managed web hosting, e-commerce, virtual private networking and dedicated Internet access, as well as frame relay, ATM, private line and long-distance services.
"With the lifecycle of technology shrinking and Internet applications growing, Qwest's advanced network provides an open platform to scale for new technologies and drive innovation of a new set of high level Internet-based applications and services for customers," said Joseph P. Nacchio, Qwest's chairman and CEO. "The demand for our network and leading-edge services has given Qwest the financial strength to expand our global reach and offer our unique package of communications services."
This press release is not an offer of securities for sale in the United States. Securities of KPNQwest may not be offered or sold in the United States absent registration or an exemption from registration. Any public offering of securities of KPNQwest to be made in the United States will be made by means of a prospectus that may be obtained from KPNQwest and that will contain detailed information about KPNQwest and management, as well as financial statements. This release may contain forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results. Important risk factors that could cause actual results to differ from those contained in the forward-looking statements include potential fluctuations in quarterly results, dependence on new product development, rapid technological and market change, failure to complete the network on schedule and on budget, financial risk management and future growth subject to risks, KPNQwest's ability to achieve Year 2000 compliance, and adverse changes in the regulatory or legislative environment. KPNQwest 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
|Qwest Media Contact