Level 3 Communications

Level 3 reports communications cash revenue of US$1.26 billion for the year 2000 - part 4 of 4

  Performance Metrics -- - Fourth Quarter 2000

    To monitor the progress of its broadband infrastructure development, Level 3 has developed several operating and construction metrics. These benchmarks are reported every quarter to help Level 3 stockholders and the investment community track the company's performance and future progress.

    Level 3 is currently substantially prefunded for its business plan. The total Level 3 network includes 56 U.S. city networks; 21 European and Asian city networks; 6.5 million square feet of technical space; an approximately 16,000 mile U.S. intercity network; a 4,750 mile European intercity network; and transatlantic, transpacific and Northern Asian undersea networks.

    Definitions:     -- Markets in Service -- the number of local markets where Level 3 has an operational Gateway facility and offers services over leased or owned facilities.     -- Markets with Fiber Networks -- the number of local markets where Level 3 offers services over owned networks.     -- Intercity Rights-of-Way Miles -- the number of intercity miles where rights-of-way agreements were secured.  Rights-of-way agreements were required before Level 3 could build the intercity network.     -- Intercity Route Miles Under Construction and Completed -- the number of intercity miles completed plus the number of miles under construction.     -- Intercity Route Miles Completed -- the number of intercity route miles with multiple conduits installed.

    Executive Officer Intended Transfers of Company Securities

    The company has a policy that generally requires the members of its board of directors and members of senior management that are "executive officers" for purposes of the SEC's Section 16 rules to pre-announce their intention to make transfers of the company's securities in the permitted period following each earnings release, which policy the company reviews annually. In addition, this policy applies only to an intent to transfer shares not previously announced, and does not apply to certain transfers for estate planning purposes.

    The following schedule shows the individuals that have expressed a current intent to transfer, during the period, the maximum number of shares they propose to transfer and the percentage of their holdings, that the intended transfer amount represents.

    None of the individuals are required to dispose of shares and the listed individuals may choose to sell fewer, or none, of the shares described, but will not, when combined with shares previously preannounced but not yet transferred, sell more during the period. An individual's ultimate decision to transfer shares of common stock will be made in compliance with applicable federal securities laws.

    Name and Title                        No. of Shares            Percentage (1)

    Walter Scott, Jr.
        Chairman                                    500,000                            2%
    R. Douglas Bradbury
        Vice Chairman                            150,000                            5%
    David C. McCourt
        Director                                      25,000                          64%
    Kevin J. O'Hara
        President, COO and Director      200,000                          10%
    Colin V.K. Williams
        Director                                      20,000                          15%
    Michael B. Yanney
        Director                                      20,000                          23%
    Sureel A. Choksi
        Group Vice President and CFO      10,000                            8%
    Gail Smith
        Group Vice President                  10,000                          84%

    (1)    The percentage is derived by dividing (a) the number of
shares that the individual may transfer plus the number of shares
previously preannounced but not yet transferred by (b) the
individual's total shares of the Company's common stock held and all
other shares that may be acquired in the future through the exercise
of vested options, including outperform stock options.

ots Original Text Service: Level 3 Internet: http://recherche.newsaktuell.de

Contact: media, Josh Howell, +1 720-888-2517, or Paul Lonnegren, +1 720 888 6099, or investors, Robin Miller, +1 720-888-2518, all of Level 3

Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/19990721/LVLTLOGO PRN Photo Desk, +1 888-776-6555 or +1 201-369-3467 Web site: http://www.Level3.com

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