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To: Larry S. who wrote (44385)	10/28/2002 6:48:21 PM
From: E.J. Neitz Jr	Read Replies (1) of 53068

5:16PM Qwest announces $10.8 bln impairment charge (Q) 3.46 +0.20: Announces it has completed the evaluation of the recoverability of its long-lived assets; company expects to record an "approximately $8.1 billion" impairment charge in its restated financial statements for the second quarter of 2002 to write-down these assets; in addition "an approximately $2.7 billion" reduction in the carrying value of intangible assets related to customer lists and product technology associated with the company's interexchange carrier business will also be made for a total asset impairment charge of approximately $10.8 billion.

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