Dallas, TEXAS - June 18, 2003 - Software Spectrum, a global provider of business software services and a subsidiary of Level 3 Communications, Inc. (Nasdaq:LVLT), announced today that it has sold its call-center operations division to H.I.G. Capital, a Miami-based private equity firm.
The division, which operates under the name Spectrum Contact Services, is a global provider of technical support and customer service outsourcing. The terms of the sale were not disclosed. As part of the transaction, Spectrum Contact Services is changing its name to ECE.
"We are pleased to have completed the sale of this non-core asset," said Keith Coogan, Software Spectrum's chief executive officer. "We will continue to focus on our primary business: providing global business software services to leading companies all over the world."
About Software Spectrum
Software Spectrum is one of the world's largest global distributors of business software, specializing in enterprise software management, licensing and support. It sells and manages software products from Microsoft, IBM/Lotus, Symantec, Adobe Systems and other leading software publishers. The company markets to large and mid-size enterprises through sales offices and operations centers in North America, Europe and the Asia-Pacific region, including approximately 70% of the Fortune 500 and 53% of the Global 500. For more information on the company, visit Software Spectrum's Web site at www.softwarespectrum.com.
Software Spectrum operates as a wholly owned subsidiary of Level 3 Communications, Inc., an international communications and information services company. Its Web address is www.Level3.com.
Forward Looking Statement
Some of the statements made by Level 3 in this press release are forward-looking in nature. Actual results may differ materially from those projected in forward-looking statements. Level 3 believes that its primary risk factors include, but are not limited to: changes in the overall economy relating to, among other things, the September 11 attacks and subsequent events, the challenges of integration, substantial capital requirements; development of effective internal processes and systems; the ability to attract and retain high quality employees; technology; the number and size of competitors in its markets; law and regulatory policy; and the mix of products and services offered in the company's target markets. 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 release should be evaluated in light of these important factors.
About Level 3 Communications
Level 3 Communications, Inc. (NASDAQ: LVLT), an international communications company, operates one of the largest Internet backbones in the world, connecting 180 markets in 18 countries. The company serves a broad range of wholesale, enterprise and content customers with a comprehensive suite of services including: Internet Protocol (IP) services, broadband transport and infrastructure services, colocation services, voice and voice over IP services, content delivery and media distribution services. These services provide the building blocks to enable Level 3’s customers to meet their growing demands for advanced communications solutions. The company’s Web address is 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 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 may be trademarks or service marks of their respective owners.
Forward-Looking Statement
Some of the statements that we make 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 our control, which could cause actual events to differ materially from those expressed or implied by the statements. The most important factors that could prevent us from achieving our stated goals include, but are not limited to our ability to: successfully integrate acquisitions; increase the volume of traffic on our network; defend our 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 our 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.
