Qwest gets waivers

Fiber Optics Weekly Update, July 4, 2003

Qwest Communications International Inc. announced that it has received waivers regarding 2002 financial reporting for its Qwest Services Corporation credit facility and its QwestDex term loan. The 2002 financial reporting due to the lenders by July 15, 2003, has been extended to no later than September 30, 2003.

In addition, the company received waivers for first quarter 2003 financial information, which was also extended to no later than September 30, 2003. Qwest sought the Waivers because it is still in the process of restating prior period financial statements necessary to complete the financial reporting for these periods.