DENVER, June 12, 2000 — Qwest Communications International Inc. (NYSE: Q), the broadband Internet communications company, and U S WEST, Inc. (NYSE: USW), a leading provider of next-generation broadband and communications services, late Friday received approval for their merger from the Utah Public Service Commission (PSC). Only two states in the 14-state region have yet to approve the merger.
The commission's approval includes an agreement the companies reached with the Utah Division of Public Utilities on recommended terms in the area of service.
"The Utah PSC has made a decision that is good for the people of Utah and assures the state will receive the best communications services available in the marketplace for years to come," said Steve Davis, senior vice president of government affairs for Qwest. "We look forward to receiving the final two state approvals and closing our merger in short order."
The merger has received all required clearances from federal agencies, pending final approval of long-distance divestiture, and awaits clearance from regulators in Arizona and Washington in the 14-state U S WEST territory. The merger is expected to close by mid-year.
Qwest Communications International Inc. (NYSE: Q) is a leader in reliable, scalable and secure broadband Internet-based data, voice and image communications for businesses and consumers. The Qwest Macro Capacity® Fiber Network, designed with the newest optical networking equipment for speed and efficiency, spans more than 25,500 miles in North America. In addition, KPNQwest (Nasdaq: KQIP), Qwest's European joint venture with KPN, the Dutch telecommunications company, is building and will operate a high-capacity European fiber optic, Internet-based network that will span 12,400 miles when it is completed in 2001. For more information, please visit the Qwest web site at www.qwest.com.
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 and U S WEST with the SEC, 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 potential fluctuations in quarterly results, dependence on new product development, rapid technological and market change, failure to maintain rights of way, financial risk management and future growth subject to risks, and adverse changes in the regulatory or legislative environment. This release may include analysts' estimates and other information prepared by third parties, for which neither Qwest nor U S WEST assumes any responsibility. Qwest and U S WEST 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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