ASHBURN, Va., March 23 /PRNewswire-FirstCall/ -- MCI, Inc. (Nasdaq: MCIP)
said today that its Board of Directors met today to review the latest Qwest
proposal presented on March 16th. MCI's Board has determined to continue its
discussions with Qwest and has instructed its advisors and management to begin
this process promptly. Verizon has consented to MCI's request for a waiver
permitting these discussions.
About MCI
MCI, Inc. (Nasdaq: MCIP) is a leading global communications provider,
delivering innovative, cost-effective, advanced communications connectivity to
businesses, governments and consumers. With the industry's most expansive
global IP backbone, based on the number of company-owned points of presence,
and wholly-owned data networks, MCI develops the converged communications
products and services that are the foundation for commerce and communications
in today's market. For more information, go to http://www.mci.com.
In connection with the previously announced proposed transaction between
MCI and Verizon, a registration statement, including a proxy statement of MCI,
and other materials will be filed with the Securities and Exchange Commission
("SEC"). We urge investors to read these documents when they become available
because they will contain important information. Investors will be able to
obtain free copies of the registration statement and proxy statement, as well
as other filed documents containing information about MCI and Verizon, at
http://www.sec.gov, the SEC's website. Investors may also obtain free copies
of these documents at http://www.verizon.com/investor, or by request to
Verizon Communications Inc., Investor Relations, 1095 Avenue of the Americas,
36th Floor, New York, NY 10036. Free copies of MCI's filings are available at
http://www.mci.com/about/investor_relations, or by request to MCI, Inc.,
Investor Relations, 22001 Loudoun County Parkway, Ashburn, VA 20147.
MCI, Verizon, and their respective directors, executive officers, and
other employees may be deemed to be participants in the solicitation of
proxies from MCI shareowners with respect to the previously announced proposed
transaction between MCI and Verizon. Information about MCI's directors and
executive officers is available in MCI's annual report on Form 10-K for the
year ended December 31, 2003. Information about Verizon's directors and
executive officers is available in Verizon's proxy statement for its 2004
annual meeting of shareholders, dated March 15, 2004. Additional information
about the interests of potential participants will be included in the
registration statement and proxy statement and other materials filed with the
SEC.
