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Qwest_2Q03_Non-GAAP_Reconciliation

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  • 1. RECONCILIATION OF NON-GAAP MEASURES (1) QWEST COMMUNICATIONS INTERNATIONAL INC. WEBSITE DISCLOSURE (DOLLARS IN MILLIONS) (UNAUDITED) (2) March 31, June 30, 2003 2003 EBITDA: Net Income (Loss) $128 $(91) Less: Cumulative effect of change in accounting $206 $- Less: Income from discontinued operations $66 $61 Add: Income tax (benefit) $(45) $(43) Add: Other Income $(68) $(80) Add: Interest Expense $456 $459 Add: Other Expense $22 $22 Add: Depreciation $776 $780 EBITDA $997 $986 EBITDA Margin: EBITDA $997 $986 Divided by: Revenue $3,629 $3,601 EBITDA Margin 27.5% 27.4% (1) We are providing EBITDA and EBITDA Margin information because we feel they are important indicators of profitability for capital-intensive businesses, and remain key metrics for valuation in the investment community. We also use EBITDA internally for a variety of purposes, including setting targets for compensation. (2) Results are unaudited but include for all periods the estimated impact of various restatements previously disclosed by the company. These results have been prepared in accordance with generally accepted accounting principles in the United States (GAAP), however, because the results have not been audited, the company can give no assurance that the as reported results will not be subject to further adjustment. March 31, 2003 information has been adjusted since prior disclosures.