Qwest Secures $30.5 Million in Carrier Sales; Announces 2-for-1 Stock Split.DENVER--(BUSINESS WIRE)--Jan. 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 Capacity(SM) 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 Feb. 2, 1998. The split will be effected through a one-for-one stock dividend to be distributed by the transfer agent on Feb. 24, 1998. Qwest completed its initial public offering (IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. ) 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 (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. 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 Capacity(SM) Network Qwest's planned domestic 16,000 mile network will serve over 125 cities, which represent approximately 80% of the data and voice traffic originating in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , upon its scheduled completion in the second quarter of 1999. Currently, 3,500 miles are activated from Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. 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 The architecture used in SONET technology. SONET rings, known as "self-healing rings," use two or more transmission paths between network nodes, which are typically digital cross-connects (DCSs) or add/drop multiplexers (ADMs). 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. About Qwest Qwest Communications
in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :QWST) is a multimedia communications company Communications Company is a communications unit of the United States Marine Corps. They are part of Combat Logistics Regiment 37 , 3rd Marine Logistics Group (3MLG) and III Marine Expeditionary Force (III MEF). The unit is based out of the Marine Corps Base Camp Smedley D. building a high-capacity, fiber optic network for the 21st century. With its cutting-edge technology, Qwest will deliver high-quality data, video and voice connectivity securely and reliably to businesses, consumers and other communications service providers A Communications Service Provider or CSP is a company that transports information electronically. The term encompasses public and private companies in the wireline, wireless, Internet, cable, satellite, and managed services businesses. . Further information is available at www.qwest.net -0- 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 Form 10-Q See 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: Qwest Communications Lisa Hempel, 303/291-1708 lhempel@qwest.net Lee Wolfe, 800/567-7296 (investor contact) lwolfe@qwest.net http://www.qwest.net or Alexander Communications Amy Messenger, 303/615-5070 amessenger@alexander-pr.com http://www.alexander-pr.com |
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