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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 25, 1999
U S WEST, Inc.
(Formerly "USW-C, Inc.")
(Exact name of registrant as specified in its charter)
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A Delaware Corporation Commission File IRS Employer Identification
(State of Incorporation) Number 1-14087 No. 84-0953188
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1801 California Street, Denver, Colorado 80202
(Address of principal executive offices, including Zip Code)
Telephone Number (303) 672-2700
(Registrant's telephone number, including area code)
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Item 5. Other Events
On February 25, 1999, U S WEST, Inc. issued a press release
entitled "U S WEST Holds Third Annual Investor Conference." The press release is
attached hereto as Exhibit 99.
Item 7. Financial Statements and Exhibits
(c) Exhibits
Exhibit 99 - Press Release issued February 25, 1999
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
U S WEST, Inc.
(Formerly "USW-C, Inc.")
By: /s/ Thomas O. McGimpsey
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Thomas O. McGimpsey
Assistant Secretary
Dated: February 25, 1999
EXHIBIT 99
U S WEST Logo
Investor Relations
NEWS FLASH
February 25, 1999
- U S WEST Holds Third Annual Investor Conference -
- Trujillo Says Growth is Key to Business Strategy:
PCS Subscriber Levels to Double, DSL Subscribers to Exceed 100,000,
uswest.net Subscribers to Pass Quarter-Million Mark by Year's End -
VAIL, Colo. -- U S WEST today held its third annual Investor Conference for an
audience of about 100 Wall Street analysts in this Colorado resort. During the
day, the company provided a flavor of the type of experience it is bringing --
and that it intends to bring -- to its 25 million customers.
"Not only do our customers have the pleasure of living in one of the finest
parts of the country," said Sol Trujillo, president and CEO of U S WEST. "But
the type of telecommunications experience we bring them today -- and that we
intend to bring them tomorrow -- makes their lives even better here."
During the day, the company provided guidance around expectations for its growth
businesses. Among these expectations, the company said it expects to:
o Double the level of subscribers to its integrated, one-number Advanced PCS
wireless service from year-end 1998 levels of 185,000 thereby growing 1999
revenues to an anticipated $200 million.
o Add 80,000-plus customers to its first-in-the-nation, high-speed digital
subscriber line (DSL) service, MegaBit Services, by year's end, exceeding
the 100,000 mark.
o Exceed the quarter-million mark in subscriber levels to its highly regarded
Internet access service, uswest.net.
o Grow 1999 revenues from its data initiatives, including Digital Subscriber
Line (DSL), Internet access and vertical data services to between $3-$4
billion by 2003.
o Achieve more than $25 million in sales of E-Commerce-related services,
primarily through its data and directory divisions in 1999. The company
expects its total E-Commerce initiatives to yield $1 billion in revenues
cumulatively in the next three years.
-more-
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"Our company is about growth," said Sol Trujillo, president and CEO of U S WEST.
"We're focused on bringing customers a unique experience, an experience centered
on integration, innovation and the Internet. That's why earlier this week we
announced an initiative to spend an additional $300 million in 1999 to help
improve our channel and infrastructure capabilities, position us for entry into
the interLATA long-distance business, and sharpen our competitive edge."
John Chambers, chairman and CEO of Cisco Systems, made a guest appearance at the
conference. During his remarks, Chambers applauded U S WEST for stepping up to
the high-speed data challenge. U S WEST's high-speed DSL data offering, MegaBit
Services, reaches 40 percent of U S WEST's customers, while penetration of cable
modems in U S WEST's region is only 10 percent.
"Entering the high-speed data arena should be a requirement for all the Local
Exchange Carriers," Chambers said. "U S WEST's moves in this direction are right
on the money. I'm surprised that others aren't being as aggressive, because in
the new Internet economy where the fast beat the slow, those who attain share in
this market early will be the long-term winners."
Safe Harbor Statement: This document contains statements about expected future
events and financial results that are forward-looking and subject to risks and
uncertainties. For these statements, we claim the safe harbor for
"forward-looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995. Factors that could cause actual results to differ
from expectations include: (i) greater than anticipated competition from new
entrants into the local exchange, intraLATA toll, wireless, data and directories
markets, causing loss of customers and increased price competition; (ii) changes
in demand for U S WEST's products and services, including optional custom
calling features; (iii) higher than anticipated employee levels, capital
expenditures and operating expenses (such as costs associated with
interconnection and year 2000 remediation); (iv) the loss of significant
customers; (v) pending and future state and federal regulatory changes affecting
the telecommunications industry, including changes that could have an impact on
the competitive environment in the local exchange market; (vi) a change in
economic conditions in the various markets served by U S WEST's operations;
(vii) higher than anticipated start-up costs associated with new business
opportunities; (viii) delays in U S WEST's ability to begin offering interLATA
long-distance services; (ix) consumer acceptance of broadband services,
including telephony, data, video and wireless services; and (x) delays in the
development of anticipated technologies, or the failure of such technologies to
perform according to expectations. These cautionary statements by U S WEST
should not be construed as exhaustive or as any admission regarding the adequacy
of disclosures made by U S WEST. U S WEST cannot always predict or determine
after the fact what factors would cause actual results to differ materially from
those indicated by the forward-looking statements or other statements. In
addition, readers are urged to consider statements that include the terms
"believes", "belief", "expects", "plans", "objectives", "anticipates",
"intends", "targets", or the like to be uncertain and forward-looking. All
cautionary statements should be read as being applicable to all forward-looking
statements wherever they appear. U S WEST does not undertake any obligation to
publicly update or revise any forward-looking statements, whether as a result of
new information, future events or otherwise.
U S WEST (NYSE: USW) provides a full range of telecommunications services --
including wireline, wireless PCS, data networking, directory and information
services -- to more than 25 million customers nationally and in 14 western and
midwestern states. More information about U S WEST can be found on the internet
at http://www.uswest.com.
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Further information: Larry Thede, 303-896-3550; Rodney Miller, 303-896-3096;
Martha Daniele Paine, 303-896-5706.
