Qwest Communications And AOL Time Warner Announce DSL, Network Services And Advertising Agreements

Denver, CO and New York, NY, July 26, 2001 ? Qwest Communications International Inc. (NYSE: Q) and AOL Time Warner (NYSE: AOL) today announced multi-year agreements under which Qwest will be a primary provider of high-speed access, dial-up access and other network services to AOL Time Warner. Qwest will also purchase advertising across AOL Time Warner's portfolio of online, print and television outlets.

AOL Time Warner will use Qwest's broadband network to deliver its industry-leading online services to millions of consumers. America Online has agreed to purchase services including DSL lines, network transport, as well as other network services in the United States, as part of its long-held strategy of providing easy and reliable access for consumers through a variety of platforms.

In a separate agreement, Qwest Communications, through KPNQwest (Nasdaq & ASE: KQIP), the leading pan-European IP data communications and hosting company, will provide America Online with macro-capacity bandwidth for delivering content and multimedia services to its European customers.

In addition, Qwest will advertise with AOL Time Warner's vast combination of media brands, including print advertising in publications such as FORTUNE and TIME magazines; television advertising on Turner Broadcasting properties; and online promotions through several America Online brands, to enhance Qwest's efforts to build brand awareness as a global communications services provider.

"We are extremely pleased that AOL Time Warner has decided to use Qwest's world-class, 113,000-mile broadband network to help support the delivery of services to America Online's members," said Joel Arnold, Qwest executive vice president of global business markets. "By expanding our existing relationship, Qwest will also reach more customers through AOL Time Warner's electronic and print media channels."

"We are pleased to extend and expand our successful relationship with Qwest, supporting our continued strategy of providing easy and reliable access to the AOL service for consumers through a variety of platforms," said Bob Pittman, co-COO, AOL Time Warner. "We are also happy to work with Qwest to support their advertising goals. Taking advantage of the many platforms AOL Time Warner can offer will put Qwest in front of a wide audience of potential new customers."

The wholesale network and DSL agreements build on a January 1999 relationship between Qwest and America Online in which Qwest delivered to AOL high-speed connectivity, private line and co-location services, as well as additional bandwidth to allow AOL to serve more customers.

About AOL Time Warner Inc.

AOL Time Warner (NYSE:AOL) is the world's first Internet-powered media and communications company, whose industry-leading businesses include interactive services, cable systems, publishing, music, TV networks and filmed entertainment.

About Qwest

Qwest Communications International Inc. (NYSE: Q) is a leader in reliable, scalable and secure broadband 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 113,000 miles globally. For more information, please visit the Qwest web site at www.qwest.com.

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 Qwest 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 potential fluctuations in quarterly results, volatility of Qwest?s stock price, intense competition in the communications services market, changes in demand for Qwest?s products and services, dependence on new product development and 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, rapid and significant changes in technology and markets, adverse changes in the regulatory or legislative environment affecting Qwest?s business and delays in Qwest?s ability to provide interLATA services within its 14-state local service territory, failure to maintain rights of way, and failure to achieve the projected synergies and financial results expected to result from the acquisition of U S WEST timely or at all and difficulties in combining the operations of Qwest and U S WEST. 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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