News Release
FOR IMMEDIATE RELEASE
U S WEST SUSPENDS SHAREOWNER INVESTMENT PLAN
DENVER, June 23, 2000 - U S WEST announced today the immediate suspension of the
Shareowner Investment Plan due to the planned merger with Qwest Communications.
Per the Plan Prospectus dated June 12, 1998, "U S WEST reserves the right to
suspend, modify or terminate the Plan at any time." Shortly after the close of
the merger with Qwest Communications, all U S WEST shares in the Shareowner
Investment Plan will be exchanged for Qwest shares.
About U S WEST
U S WEST (NYSE: USW) is a leading broadband and communications service provider,
with more than $13 billion in annual revenues. U S WEST leads the industry in
deploying next-generation broadband ADSL and VDSL Internet access and
data/video services; offers the nation's first and only 'one-number' advanced
wireless service that integrates customers' home or business phones with their
wireless PCS; and provides multimedia advertising services, including Internet
and print directories. The company has nearly 2 million miles of deployed fiber
in the U.S., provides local exchange services to more than 25 million customers
in 14 states, and provides wireless services to more than 600,000 customers and
data services to more than 800,000 customers nationally.
U S WEST is merging with Qwest Communications International Inc. The
combination, to be named Qwest Communications International Inc., will create a
communications powerhouse with a market capitalization of more than $70 billion,
headquartered in Denver and employing about 64,000 people worldwide. U S WEST
and Qwest will unite the nation's more innovative local, wireless and broadband
communications firm with one of the world's most advanced fiber-optic networks
and broadband Internet providers. Together, the two firms will have more than 3
million miles of deployed fiber in the U.S. and worldwide, 29 million customers
and a local network that is 99.2 percent digitally switched. For more
information about U S WEST, go to http://www.uswest.com.
Contact: Bill Myers, 303-896-3027; e-mail: [email protected]
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