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Technology Stocks : Qwest Communications (Q) (formerly QWST) -- Ignore unavailable to you. Want to Upgrade?

To: Rashe W. Stephens III who wrote (2038)	8/11/1998 9:19:00 AM
From: Bill Fortier	Read Replies (1) \| Respond to of 6846

To All! Tuesday August 11, 7:15 am Eastern Time Company Press Release Qwest Chosen By Nortel To Provide Domestic Communications Services DENVER--(BUSINESS WIRE)--Aug. 11, 1998--Qwest today announced a multimillion-dollar contract to provide communications services to Nortel (Northern Telecom), a leading provider of communications products and advanced digital networks. Under the terms of the three-year agreement, Qwest will provide Nortel with Virtual Network Services (VNS) in the U.S., toll-free calling, calling card, and inbound and outbound long-distance services. Using advanced re-routing technology, Qwest will continuously monitor Nortel's VNS traffic across the Qwest Macro Capacity(SM) Fiber Network for quality assurance and uninterrupted transmission. ''Qwest and Nortel have been working together on many fronts to bring high-tech communications services to businesses and consumers, and Qwest is pleased to provide Nortel with the services that have, in part, been created through its strategic alliance with Nortel,'' said Lew Wilks, president of business markets for Qwest. ''Qwest continues to emerge as an exciting new provider of advanced communications services. The tremendous capabilities of Qwest's nationwide high-capacity fiber optic network are maximized by Nortel's leading-edge optical and switching solutions,'' said Ian Craig, president of broadband networks for Nortel. The Qwest Macro Capacity Fiber Network Qwest's planned domestic 18,449-mile network will serve over 130 cities, which represent approximately 80 percent of the data and voice traffic originating in the United States, upon its scheduled completion in the second quarter of 1999. To date, approximately 8,850 miles of the Qwest Macro Capacity Fiber Network are activated, including the transcontinental segment that extends from Los Angeles to Sacramento and across to New York. Additionally, Qwest owns transatlantic submarine capacity linking the United States to Europe and will jointly own a transpacific submarine cable system connecting the U.S. to the Pacific Rim. Qwest is also extending its network 1,400 miles into Mexico with completion slated for late 1998. The Qwest Macro Capacity Fiber network is designed with a highly reliable and secure bi-directional, line switching ring architecture powered by Nortel's (Northern Telecom's) S/DMS TransportNode OC-192 with Dense-Wavelength Division Multiplexing (D-WDM) supporting up to 160 Gbps of data, voice and video traffic on a single fiber. Upon completion, the network will offer a self-healing system that provides the ultimate security and reliability by allowing instantaneous rerouting in the event of a fiber cut. About Nortel Nortel works with customers in more than 150 countries and territories to design, build and integrate their communications products and advanced digital networks. Customers include public and private institutions; Internet service providers; local, long-distance, cellular mobile and PCS communications companies; cable television companies; and utilities. Nortel's common shares are listed on the New York, Toronto, Montreal, Vancouver and London stock exchanges. Nortel had 1997 revenues of US$15.5 billion and has approximately 73,000 employees worldwide. About Qwest Qwest Communications International Inc. (NASDAQ: QWST - news) is a multimedia communications company and one of the fastest growing companies in America today. Headquartered in Denver, Colorado, Qwest has approximately 6,000 employees and over 80 sales offices worldwide. With its world-class data and multimedia network, marketing expertise, and customer care and billing systems, Qwest is delivering high-quality data, video and voice connectivity securely and reliably to customers around the world. Further information is available at www.qwest.net This release may contain forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results. Readers are referred to the documents filed by Qwest with the SEC, specifically the most recent reports on Form 10-Q, which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements, including potential fluctuations in quarterly results, dependence on new product development, rapid technological and market change, failure to complete the network on schedule, volatility of stock price, financial risk management and future growth subject to risks. The Qwest logo is a registered trademark of Qwest Communications International Inc. in the U.S. and certain other countries. Contact: Corporate Contact: Investor Contact: Qwest Communications Qwest Communications Diane Reberger Lee Wolfe (303) 992-1662 (800) 567-7296 dreberge@qwest.net lwolfe@qwest.net qwest.net qwest.net or Media Contact: Alexander Communications Alison Schwartz (303) 615-5070 x128 aschwart@alexandercom.com alexander-pr.com

To: Rashe W. Stephens III who wrote (2038)	8/13/1998 5:16:00 PM
From: Marc Ache'	Read Replies (3) \| Respond to of 6846

QWST + PSINet just an idea right? or is it a rumor?

To: Rashe W. Stephens III who wrote (2038)	9/14/1998 5:16:00 AM
From: Teddy	Read Replies (3) \| Respond to of 6846

The Wall Street Journal -- September 14, 1998 Qwest to Unveil Pact to Acquire Icon CMT Corp. ---- By Stephanie N. Mehta Staff Reporter of The Wall Street Journal Qwest Communications International Inc. plans to announce today that it has agreed to acquire Internet service provider Icon CMT Corp. in a stock deal that Qwest values at about $185 million, about a 60% premium over the company's market value Friday. Qwest, a Denver-based telecommunications company, is building a nationwide network based on Internet technology. The acquisition of Icon would allow Qwest to offer a broader menu of Internet-related services to large corporate clients. Icon, based in Weehawken, N.J., sells Internet access, Web hosting and network-management services to large businesses. "This is the first service offering that articulates the vision that we've been talking about," Joseph P. Nacchio, Qwest's chief executive officer, said in an interview. "People said we were just another long-distance company. Not quite." The acquisition also would allow Qwest to leverage its fiber-optic network, which is robust but lacks the heavy traffic volume of rivals such as MCI Communications Corp. and AT&T Corp. Qwest is paying a nice premium for an Internet-related company at a time when technology stocks are in the doldrums: According to people familiar with the negotiations, Qwest is offering $12 in stock for each share of Icon, whose shares on Friday closed unchanged at $7.25. But that is much cheaper than the stock's 52-week high of $28.75, and it had been trading in the midteens prior to the stock market sell-off. Qwest's valuation of the deal excludes working capital and proceeds from the exercise of warrants. In Nasdaq Stock Market trading Friday, shares of Qwest rose $2.0625 to close at $28.8125. Icon already operates Web-hosting facilities, but Qwest is expected to announce a broader push into that business, Mr. Nacchio said. Qwest is expected to launch 10 "CyberCenters" by 1999 to manage customers' Web sites. And in November, Qwest will begin offering corporate customers a new category of service designed to give software and computer clients "always on" access to the Internet and corporate intranets. Icon, formed in 1991, targets businesses in the financial, pharmaceutical, media and telecommunications industries. The company, which has about 400 employees, last year posted a $13 million loss on sales of $47 million.