Level 3 Communications Elects Jeff Storey President and Chief Operating Officer

Level 3 Communications Elects Jeff Storey President and Chief Operating Officer

BROOMFIELD, Colo., Dec. 5 -- Level 3 Communications, Inc. (NASDAQ:LVLT) , a leading international provider of fiber-based communications services, has elected Jeff K. Storey as president and chief operating officer effective December 8. Storey will be based at the company's headquarters in Broomfield, Colo., and will report to James Q. Crowe, chief executive officer. Storey brings more than 25 years of experience in the telecommunications industry to Level 3.

"Jeff Storey is a highly respected executive in the telecommunications industry," said Crowe. "As the president and chief executive officer of WilTel Communications, Jeff demonstrated his strong combination of management and operational skills by growing that business significantly while maintaining strong financial discipline."

"I am honored to join Level 3," said Storey. "Level 3's combination of end-to-end network assets and broad service portfolio has tremendous recognition in the marketplace. The opportunity ahead is to leverage that combination and continue to develop innovative services that meet our customers' expectations."

Storey, 48, was most recently with Leucadia National Corporation, where he served as president of Leucadia Telecommunications Group. Prior to that position, Storey spent five years with WilTel Communications and its predecessor entities and was president and chief executive officer of WilTel Communications from 2002 until its sale to Level 3 in December 2005. Storey began his career in telecommunications in 1983 with Southwestern Bell Telephone, where he held various engineering and operations positions. From 1994 until 1999 he worked at Cox Communications in various executive positions.

About Level 3 Communications

Level 3 Communications, Inc. (NASDAQ:LVLT) is a leading international provider of fiber-based communications services. Enterprise, content, wholesale and government customers rely on Level 3 to deliver communications services with an industry-leading combination of scalability and quality, over an end-to-end fiber network. Level 3 offers a portfolio of metro and long haul services over an end-to-end fiber network, including transport, data, internet, content delivery and voice. For more information, visit www.Level3.com.

Level 3 Communications, Level 3, the red 3D brackets and the Level 3 Communications logo are registered service marks of Level 3 Communications, LLC and/or its affiliates in the United States and/or other countries. Level 3 services are provided by wholly owned subsidiaries of Level 3 Communications, Inc. Any other service, product or company names recited herein are trademarks or service marks of their respective owners.

Forward-Looking Statement

Some of the statements made in this press release are forward looking in nature. These statements are based on management's current expectations or beliefs. These forward looking statements are not a guarantee of performance and are subject to a number of uncertainties and other factors, many of which are outside Level 3's control, which could cause actual events to differ materially from those expressed or implied by the statements. The most important factors that could prevent Level 3 from achieving its stated goals include, but are not limited to the company's ability to: successfully integrate acquisitions; increase the volume of traffic on the network; defend intellectual property and proprietary rights; develop new products and services that meet customer demands and generate acceptable margins; successfully complete commercial testing of new technology and information systems to support new products and services; attract and retain qualified management and other personnel; and meet all of the terms and conditions of debt obligations. Additional information concerning these and other important factors can be found within Level 3's filings with the Securities and Exchange Commission. Statements in this press release should be evaluated in light of these important factors. Level 3 is under no obligation to, and expressly disclaims any such obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, or otherwise.