DENVER - July 23, 1998 - In response to comments made by Frontier Corporation that raised questions about the construction of the Qwest network, Qwest today reaffirmed its planned 18,449-mile nationwide fiber optic network is on schedule and on budget for completion by mid-1999. Qwest has delivered 47 network segments to Frontier, all in compliance with the stated terms of its contract with Frontier, and fully expects to deliver the remaining 18 network segments within contract compliance. Qwest anticipates its revenue and earnings growth will remain strong as the construction of the Qwest Macro CapacitySM Fiber Network continues to expand.
?Our network is a valuable asset and critical component for the successful implementation of our business plan, and we are very pleased with the progress of this nationwide construction project,? said Joseph P. Nacchio, president and CEO of Qwest. ?It is unfortunate that Frontier believes Qwest is impacting their earnings in any way. We value all our customers, like Frontier, and we will continue to work hard to provide them with the most advanced, secure fiber optic network in the world.?
In addition, Qwest acknowledged Frontier?s purchase of fiber in the Southeast U.S. from Williams was understandable, as Qwest was not interested in pursuing that business opportunity with Frontier. Qwest remains the only company with access to its entire 18,449-mile nationwide network.
This release may contain 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 with the SEC, specifically the most recent reports on Form 10-Q, which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements, including potential fluctuations in quarterly results, dependence on new product development, rapid technological and market change, failure to complete the network on schedule, volatility of stock price, financial risk management and future growth subject to risks.
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