WilTel Wins Capacity Magazine Award for Best National U.S. Wholesale Provider.

TULSA, Okla. -- WilTel Communications announced today that it has been named the Best National U.S. Wholesale Provider in Capacity Magazine's Global Wholesale Telecommunications Awards. The awards recognize those market players who, through applying effective techniques and strategies to their wholesale businesses, have established themselves at the forefront of the wholesale telecom industry.

"The judges found that WilTel consistently garners plaudits for the high quality of its network, and its customer satisfaction ratings are uniformly strong," said Rachel Jones, managing director of TelCap Ltd. "The company has a reputation for running a well-managed, first class network."

"WilTel has long been recognized as the top wholesale telecommunications provider in the industry, as evidenced by this Capacity Award and our yearly performance in the Atlantic-ACM Wholesale Carrier Report Card," said Jeff Storey, president and chief executive officer of WilTel. "This continued recognition is a testament to our strong history of operational performance and customer satisfaction."

WilTel, a wide-area networking specialist, provides carrier customers with a comprehensive set of voice, data, IP and video solutions, delivered over the nation's largest next-generation fiber-optic network. WilTel's Web portal, Direct Network Access (DNA), gives carrier customers the visibility and control to manage the critical elements of their services. In addition to ordering services, customers can use DNA to generate quotes for Data services and Voice Dedicated Access Lines (DALs) in under 10 minutes. Ninety-nine percent of all quotes are turned around within 48 hours and WilTel is the only company in the industry to offer customer-specific contract pricing via a Web portal.

About WilTel Communications

WilTel Communications, LLC, provides a diverse set of data, voice, IP, video, managed and professional services, creating advanced wide-area networking solutions for enterprise, global telecommunications companies, the federal government and media and entertainment companies. WilTel's next-generation network infrastructure reaches border-to-border and coast-to-coast with international connectivity to accommodate global traffic. WilTel Communications, LLC is the operating subsidiary of WilTel Communications Group, Inc., a wholly owned, indirect subsidiary of Leucadia National Corporation. For more detailed information, visit www.wiltel.com.

This press release may contain "forward-looking statements." Although WilTel believes any such statements are based on reasonable assumptions, there is no assurance that actual outcomes will not be materially different. WilTel assumes no obligation to update those statements to reflect actual results, changes in assumptions and other factors. The forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those projected. Additional information that could lead to material changes in performance is contained in filings with the Securities and Exchange Commission made by Leucadia.