Qwest Announces $300 Million Senior Discount Notes Offering

DENVER - January 22, 1998 - Qwest Communications International Inc.(Nasdaq: QWST) today announced that it expects to sell an issue of senior discount notes due in 2008 for gross proceeds of approximately $300 million. Cash interest would not be paid for five years. Qwest expects the offering to be consummated by the end of January.

Proceeds of the notes sale will be used primarily for growth of Qwest's core business in the United States including data services deployment and IS infrastructure buildout; expansion of the Qwest asset base; and increased presence in international markets such as Mexico and Europe.

The notes to be sold have not been registered under the Securities Act of 1933 and may not be offered or sold absent registration or an applicable exemption from registration requirements.

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.

Contact Information
Media Contact
Diane Reberger
Outside Contacts:
Qwest Media Contact
Erin McKelvey
(303) 615-5070
Twitter Facebook Linkedin Google+ Email