f a fourth segment consisting of its directory publishing business, QwestDex, for $7.05 billion. In 2002, the company also reduced its debt through a series of transactions including a private debt exchange offer resulting in a gain of $1.9 billion. Qwest also renegotiated its credit and raised $1.75 billion in new funding. As of mid-2003, the company had managed to reduce its debt from over $26 billion to approximately $22 billion. A mixed bag For the full year 2003, revenue at Qwest fell by 7 percent to hit $14.3 billion. For the fourth quarter, the company shed more phone lines and reported a loss of $307 million for the quarter, compared with a profit of $2.7 billion in the fourth quarter of 2002. During the quarter, Qwest lost customers in its wireless and consumer local phone segments, and total access lines in service dropped 4.7 percent to 16.21 million from 17.01 million in 2002. Local voice revenue sank another 11.2 percent to $1.67 billion, and wireless sales fell by 4.9 percent to the $137 million mark. On a much- needed positive note, the company did post a 36 percent increase in long-distance customers, bringing its total to 2.3 million, while it gained 60,000 high-speed Internet accounts - giving the company a total of 637,000 DSL subscribers. Visit Vault at www.vault.com for insider company profiles, expert advice, VAULT CAREER career message boards, expert resume reviews, the Vault Job Board and more. LIBRARY Vault Guide to the Top Telecom Employers Qwest Communications International, Inc. GETTING HIRED Hiring process Information regarding employment, locations, recruiting events and benefits at Qwest can be found on the company's web site, at www.qwest.com/careers. The site's job profile system will send job descriptions to registered users' e-mail accounts based on their selected criteria. VAULT CAREER LIBRARY c 2005 Vault Inc. SBC Communications Inc. 175 E. Houston THE STATS San Antonio, TX 78205-2233 Phone: (210) 821-4105 Stock Symbol: SBC Fax: (210) 351-2071 Stock Exchange: NYSE www.sbc.com 