Level 3 Announces Proposed Private Offering of Additional 8.125% Senior Notes Due 2019

Level 3 Communications, Inc. LVLT today announced that Level 3 Escrow, Inc., its indirect wholly owned subsidiary, plans to offer an additional $300 million aggregate principal amount of 8.125% Senior Notes due 2019 in a proposed private offering to "qualified institutional buyers," as defined in Rule 144A under the Securities Act of 1933, as amended, and non-U.S. persons outside the United States under Regulation S under the Securities Act of 1933. This offering represents an additional offering of the 8.125% Senior Notes due 2019 that were issued on June 9, 2011. The notes offered in this offering are being offered as additional notes under the same indenture as the 8.125% Senior Notes issued on June 9, 2011, and will be treated under that indenture as a single series of notes with the outstanding 8.125% Senior Notes.