Level 3 Holds 2008 Annual Meeting of Stockholders

BROOMFIELD, Colo., May 20 /PRNewswire-FirstCall/ -- Level 3
Communications, Inc. (Nasdaq: LVLT) held its 2008 Annual Meeting of
Stockholders today in Broomfield, Colorado.
At the meeting, the company's stockholders:
-- Re-elected Walter Scott, Jr., James Q. Crowe, Douglas C. Eby, Admiral
James O. Ellis, Jr., Richard R. Jaros, Robert E. Julian, Michael J.
Mahoney, Arun Netravali, John T. Reed, Michael B. Yanney and Dr. Albert
C. Yates as directors of the company. All directors will serve a
one-year term until the 2009 Annual Meeting of Stockholders.
-- Approved granting to the company's Board of Directors discretionary
authority to amend in the future the company's restated certificate of
incorporation to implement a reverse stock split at one of four
possible ratios: 1-for-5, 1-for-10, 1-for-15, and 1-for-20. The
company's Board of Directors has taken no action with respect to a
reverse stock split at this time.
-- Approved an amendment to the company's restated certificate of
incorporation removing the supermajority voting provisions therein to
permit stockholders to amend Level 3's amended and restated by-laws and
its restated certificate of incorporation by the affirmative vote of a
majority of the outstanding shares of Level 3 common stock.
-- Approved the amendment and restatement of Level 3's restated
certificate of incorporation.

About Level 3 Communications
Level 3 Communications, Inc. (Nasdaq: LVLT) is a leading international
provider of fiber-based communications services. Enterprise, content,
wholesale and government customers rely on Level 3 to deliver services with an
industry-leading combination of scalability and value over an end-to-end fiber
network. Level 3 offers a portfolio of metro and long-haul services, including
transport, data, Internet, content delivery and voice. For more information,
visit http://www.Level3.com.
Level 3 Communications, Level 3, the red 3D brackets and the Level 3
Communications logo are registered service marks of Level 3 Communications,
LLC and/or its affiliates in the United States and/or other countries. Level 3
services are provided by wholly owned subsidiaries of Level 3 Communications,
Inc. Any other service, product or company names recited herein are trademarks
or service marks of their respective owners.
Forward-Looking Statement
Some of the statements made in this press release are forward looking in
nature. These statements are based on management's current expectations or
beliefs. These forward looking statements are not a guarantee of performance
and are subject to a number of uncertainties and other factors, many of which
are outside Level 3's control, which could cause actual events to differ
materially from those expressed or implied by the statements. The most
important factors that could prevent Level 3 from achieving its stated goals
include, but are not limited to the company's ability to: successfully
integrate acquisitions; increase the volume of traffic on the network; defend
intellectual property and proprietary rights; develop new products and
services that meet customer demands and generate acceptable margins;
successfully complete commercial testing of new technology and information
systems to support new products and services; attract and retain qualified
management and other personnel; and meet all of the terms and conditions of
debt obligations. Additional information concerning these and other important
factors can be found within Level 3's filings with the Securities and Exchange
Commission. Statements in this press release should be evaluated in light of
these important factors. Level 3 is under no obligation to, and expressly
disclaims any such obligation to, update or alter its forward-looking
statements, whether as a result of new information, future events, or
otherwise.
SOURCE Level 3 Communications, Inc.

media, Chris Hardman, +1-720-888-2292, or Kimberly Tulp, +1-720-888-3675, or
investors, Valerie Finberg, +1-720-888-2501, or Mark Stoutenberg,
+1-720-888-2518, all of Level 3 Communications, Inc.