Web Hosting Company Qwest Communications Announces Results of Tender Offer

HostReview.com
Wednesday, August 25, 2004; 12:00 AM

DENVER, August 25, 2004 — Qwest Communications International Inc. announced today that its wholly owned subsidiary, Qwest Corporation (QC), purchased for cash approximately $569 million aggregate principal amount of 7.20 percent notes due November 1, 2004, under its previously announced tender offer for approximately $750 million of outstanding notes.

A total of approximately $569 million, representing approximately 76 percent of the outstanding, in principal amount of QC notes maturing in 2004 were tendered prior to 5:00 p.m. on August 24, 2004, (the Early Participation Payment Deadline), and have been accepted for payment. Holders who tendered by such time received total consideration of $1,009.40 per $1,000 principal amount of notes accepted for purchase, consisting of a purchase price of $989.40 per $1,000 principal amount of notes and an early participation payment of $20 per $1,000 principal amount of notes. The settlement was completed today, and interest was paid up to, but not including, today.

The offer is scheduled to expire at midnight EDT, on Wednesday, September 8, 2004, unless extended (the Expiration Time). Holders who validly tender their notes after the Early Participation Payment Deadline and prior to the Expiration Time will receive the purchase price of $989.40 per $1,000 principal amount of notes accepted for purchase plus interest accrued up to, but not including, the date on which payment for the notes is made. Notes tendered after the Early Participation Payment Deadline may not be withdrawn.

Lehman Brothers and Goldman, Sachs & Co. are the dealer managers for the offer. Questions regarding the offers may be directed to Lehman Brothers, Liability Management Group at (800) 438-3242 (toll-free) and (212) 528-7581, or Goldman, Sachs & Co., Credit Liability Management Group, at (800) 828-3182 (toll-free) and (212) 357-3019.

About Qwest

Qwest Communications International Inc. (NYSE: Q) is a leading provider of voice, video and data services. With more than 40,000 employees, Qwest is committed to the "Spirit of Service" and providing world-class services that exceed customers' expectations for quality, value and reliability. For more information, please visit the Qwest Web site at www.qwest.com.

Media Contact Steve Hammack 303-896-3030 steve.hammack@qwest.com Investor Contact Stephanie Comfort 800-567-7296 IR@qwest.com