Level 3 and tw telecom Stockholders Approve Acquisition

- Level 3 Sets Third Quarter 2014 Earnings Call Date

BROOMFIELD and LITTLETON, Colorado , Oct. 28, 2014 /PRNewswire/ -- Level 3 Communications, Inc. (NYSE: LVLT) and tw telecom inc. (NASDAQ: TWTC) today announced that, at separate special meetings, stockholders of both companies voted to approve Level 3's proposed acquisition of tw telecom. At the tw telecom stockholders' meeting, 86.2 percent of the tw telecom shares outstanding were voted in favor of the adoption of the merger agreement between tw telecom and Level 3. At the Level 3 stockholders' meeting, 99.7 percent of the Level 3 shares voting at the meeting were voted in favor of the issuance of shares of Level 3 common stock to tw telecom stockholders in the acquisition, and 90.7 percent of the Level 3 shares of common stock outstanding were voted in favor of the proposal to approve the adoption of the Level 3 charter amendment that increases the number of authorized shares of Level 3 common stock.

Level 3 also announced that the company will report third quarter 2014 results on Wednesday, Nov. 5, 2014 . The company expects to close the tw telecom acquisition prior to Nov. 5 , subject to the satisfaction of remaining customary closing conditions that are contained in the merger agreement, and plans to discuss third quarter 2014 earnings results for both Level 3 and tw telecom during the call.

The call will be broadcast live on Level 3's Investor Relations website at http://investors.level3.com at 10 a.m. ET on Nov. 5 .

Additional information regarding the third quarter 2014 results, including the presentation management will review on the conference call, will be available on Level 3's Investor Relations website. Investors unable to join the call via the Web can access the call at +1 877-283-5145 (U.S. Domestic) or +1 312-281-1200 (International). Questions should be sent to investor.relations@level3.com.

The call will be archived and available on Level 3's Investor Relations website or can be accessed as an audio replay starting at 2 p.m. ET on Nov 5 until 1 p.m. ET on Jan. 3, 2015 . The replay can be accessed by dialing +1 800-633-8284 (U.S. Domestic) or +1 402-977-9140 (International), conference code 21738057.

For additional information, call +1 720-888-2518.

Level 3 Communications, Inc. (NYSE: LVLT) is a Fortune 500 company that provides local, national and global communications services to enterprise, government and carrier customers. Level 3's comprehensive portfolio of secure, managed solutions includes fiber and infrastructure solutions; IP-based voice and data communications; wide-area Ethernet services; video and content distribution; data center and cloud-based solutions. Level 3 serves customers in more than 500 markets in over 60 countries across a global services platform anchored by owned fiber networks on three continents and connected by extensive undersea facilities. For more information, please visit www.level3.com or get to know us on Twitter, Facebook and LinkedIn.

© Level 3 Communications, LLC. All Rights Reserved. Level 3, Level 3 Communications, Level (3) and the Level 3 Logo are either registered service marks or service marks of Level 3 Communications, LLC and/or one of its Affiliates in the United States and elsewhere. Any other service names, product names, company names or logos included herein are the trademarks or service marks of their respective owners. Level 3 services are provided by subsidiaries of Level 3 Communications, Inc.

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