DENVER, November 14, 2003 ? Qwest Communications International Inc. (NYSE: Q) today announced that it will purchase assets from Touch America allowing Qwest to support hundreds of frame relay and asynchronous transfer mode (ATM) customers. Also, Qwest will purchase from 360networks Corporation certain assets that help extend the Qwest nationwide high-speed data network. The agreement underscores Qwest?s commitment to its business customers who now can use Qwest as the one service provider for end-to-end frame relay and ATM data communications.
Customers affected are those with locations inside Qwest?s 14-state local service region, where the company has recently won the right to offer long-distance network services. Many of the customers are served by Qwest for frame relay and ATM service outside of its local service region, and now they will have the benefit of using a single, nationwide service provider for all their data networking requirements.
?Customers will benefit from improved performance because they will have one service provider for all their data needs and one point of contact,? said Cliff Holtz, executive vice president for Qwest business markets group. ?To complement their data, we can provide them with additional services such as voice and IP. In many cases, Qwest works with these customers in other areas and so we are pleased we can help them during this transition.?
As part of the agreement, Qwest will purchase from 360networks certain fiber network routes that extend the existing Qwest nationwide data network. The routes Qwest will purchase are Seattle to Billings, Mont.; Billings, Mont. to Denver; Denver to Colorado Springs, Colo.; and Billings, Mont. to Minneapolis.
This agreement also resolves all outstanding disputes between Qwest and Touch America and 360networks regarding these assets, and 360networks has committed to supporting customers? transition from Touch America to Qwest or another provider. Pending bankruptcy court approval, the agreement is expected to close in the fourth quarter of 2003.
Qwest Communications International Inc. (NYSE: Q) is a leading provider of voice, video and data services to more than 25 million customers. The company?s 47,000 employees are committed to the ?Spirit of Service? and providing world-class services that exceed customers? expectations for quality, value and reliability. For more information, please visit the Qwest Web site at www.qwest.com.
Forward Looking Statement Note
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 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: the duration and extent of the current economic downturn in our 14-state local service area, including its effect on our customers and suppliers; access line losses due to increased competition, including from technology substitution of our access lines with wireless and cable alternatives; our substantial indebtedness, and our inability to complete any efforts to de-lever our balance sheet through asset sales or other transactions; any adverse outcome of the SEC's current investigation into our accounting policies, practices and procedures and certain transactions; any adverse outcome of the current investigation by the U.S. Attorney's office in Denver into certain matters relating to us; adverse results of increased review and scrutiny by Congress, regulatory authorities, media and others (including any internal analyses) of financial reporting issues and practices or otherwise; further delays in making required public filings with the SEC; rapid and significant changes in technology and markets; any adverse developments in commercial disputes or legal proceedings, including any adverse outcome of current or future legal proceedings related to matters that are the subject of governmental investigations, and, to the extent not covered by insurance, if any, our inability to satisfy any resulting obligations from funds available to us, if any; potential fluctuations in quarterly results; volatility of our stock price; intense competition in the markets in which we compete including the likelihood of certain of our competitors emerging from bankruptcy court protection or otherwise reorganizing their capital structure and competing effectively against us; changes in demand for our products and services; 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; adverse changes in the regulatory or legislative environment affecting our business; and changes in the outcome of future events from the assumed outcome included in our significant accounting policies.
The information contained in this release is a statement of Qwest's present intention, belief or expectation and is based upon, among other things, the existing regulatory environment, industry conditions, market conditions and prices, the economy in general and Qwest's assumptions. Qwest may change its intention, belief or expectation, at any time and without notice, based upon any changes in such factors, in Qwest's assumptions or otherwise. The cautionary statements contained or referred to in this release should be considered in connection with any subsequent written or oral forward-looking statements that Qwest or persons acting on its behalf may issue. This release may include analysts' estimates and other information prepared by third parties for which Qwest assumes no responsibility.
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.
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