DENVER - January 20, 1998 - Qwest today announced $30.5 million in sales to a leading international telecommunications services provider. The customer will lease bulk services (DS-3 and above) on Qwest's Macro CapacitySM Fiber Network beginning with a three year, $30.5 million commitment. The customer may also choose to raise its commitment by leasing additional capacity.
Additionally, Qwest announced that its board of directors authorized the splitting of Qwest's common stock on a 2-for-1 basis to shareholders of record on February 2, 1998. The split will be effected through a one-for-one stock dividend to be distributed by the transfer agent on February 24, 1998. Qwest completed its initial public offering (IPO) in June 1997.
"We are pleased to welcome another carrier customer who recognizes the superior quality of the Qwest network," said Joseph P. Nacchio, president and CEO of Qwest. Nacchio further indicated that, "Since our IPO in June of 1997 our rapid growth, in all aspects of the business, has pleased our investors as evidenced by our rising stock price. The Qwest board of directors' decision to effect a 2-for-1 stock split shows their confidence in the direction of our company."
The Qwest Macro CapacitySM Network
Qwest's planned domestic 16,000 mile network will serve over 125 cities, which represent approximately 80 percent of the data and voice traffic originating in the United States, upon its scheduled completion in the second quarter of 1999. Currently, 3,500 miles are activated from Los Angeles to Cincinnati; and from Dallas to Houston. Qwest is also extending its network 1,400 miles into Mexico with completion slated for late third quarter 1998.
The Qwest Macro Capacity Fiber network is designed with a highly reliable and secure bi-directional, line switching OC-192 SONET ring architecture. Upon completion, the network will offer a self-healing system that provides the ultimate security and reliability by allowing instantaneous rerouting in the event of a fiber cut.
Qwest Communications International, Inc. (Nasdaq: QWST), is a multimedia communications company building a high-capacity, fiber optic network for the 21st century. With its cutting-edge technology, Qwest will deliver high-quality voice, data and video connectivity securely and reliably to businesses, consumers and other communications service providers.
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 forwaential 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.
|Qwest Media Contact