Qwest Communications (Q) (formerly QWST) Message Board

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Technology Stocks : Qwest Communications (Q) (formerly QWST)

Q 81.09

+2.3%

Nov 28 9:30 AM EST

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To: pass pass who wrote (4452)	6/29/1999 12:18:00 PM
From: mrnaive	of 6846

This just in!!! Frontier Discloses Earnings Shortfall; Continues to Evaluate Qwest Offer Qwest Responds to Latest Frontier Announcement Frontier Corporation announced late yesterday that its second quarter and year-end revenue and earnings results will fall short of current analysts' expectations. Second quarter normalized earnings per share are projected to be in the range of $0.20 to $0.22; total year earnings are now targeted at $1.00 per share. The company's second quarter earnings will fall $0.06 to $0.08 per share short of analysts' expectations This financial development, Frontier asserted, will have no impact on its ability or timing to proceed with its definitive merger agreement with Global Crossing Ltd. Yet Frontier also noted that its Board of Directors "is continuing to evaluate the revised proposal by Qwest Communications to acquire Frontier." In response to this most recent announcement by Frontier Qwest Communications International Inc. said it will not revise its current proposal to acquire Frontier based upon the factors mentioned by Frontier in its release. Acknowledging that Frontier's Board continues to evaluate its offer, Qwest stated, "As our proposal is superior, particularly in light of Frontier's announcement this evening, we would expect the Frontier shareowners' best interests would be served by a prompt affirmation of our offer so that we may proceed together. Time, of course, is of the essence to us and the Frontier shareowners." Qwest remains ready to meet with Frontier's Board to address all aspects of its proposal. Copyright 1999 Qwest Communications International Inc. All rights reserved.

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