Level 3 CFO Sunit Patel to Speak at Lehman Brothers Worldwide Wireless, Wireline and Media Conference and Wachovia Securities Media & Communications Conference

BROOMFIELD, Colo., May 17 /PRNewswire-FirstCall/ — Sunit Patel, chief financial officer of Level 3 Communications, Inc. , will make an investor presentation at the Lehman Brothers Worldwide Wireless, Wireline and Media Conference in New York on Tuesday, May 23. The presentation is scheduled to begin at approximately 3 p.m. EDT.

Mr. Patel will also make an investor presentation at the 2006 Wachovia Securities Media & Communications Conference in New York, on Wednesday, May 24. The presentation is scheduled to begin at approximately 9 a.m. EDT. A webcast of both conferences will be available both live and archived on Level 3′s investor relations Web site at http://www.level3.com/582.html.

About Level 3 Communications

Level 3 , an international communications and information services company, operates one of the largest Internet backbones in the world. Through its customers, Level 3 is the primary provider of Internet connectivity for millions of broadband subscribers. The company provides a comprehensive suite of services over its broadband fiber optic network including Internet Protocol (IP) services, broadband transport and infrastructure services, colocation services, voice services and voice over IP services. These services provide building blocks that enable Level 3′s customers to meet their growing demands for advanced communications solutions. The company’s Web address is http://www.level3.com/.

Level 3 offers information services through its subsidiary, Software Spectrum, and fiber-optic and satellite video delivery and advertising distribution solutions through its subsidiary, Vyvx. For additional information, visit their respective Web sites at http://www.softwarespectrum.com/ and http://www.vyvx.com/.

The Level 3 logo is a registered service mark of Level 3 Communications, Inc. in the United States and/or other countries. Level 3 services are provided by a wholly owned subsidiary of Level 3 Communications, Inc.

Forward-Looking Statement

Some of the statements made by Level 3 in this press release are forward-looking in nature. Actual results may differ materially from those projected in forward-looking statements. Level 3 believes that its primary risk factors include, but are not limited to: increasing the volume of traffic on Level 3′s network; developing new products and services that meet customer demands and generate acceptable margins; successfully completing commercial testing of new technology and information systems to support new products and services, including voice transmission services; stabilizing or reducing the rate of price compression on certain of our communications services; integrating strategic acquisitions; attracting and retaining qualified management and other personnel; ability to meet all of the terms and conditions of our debt obligations; overcoming Software Spectrum’s reliance on financial incentives, volume discounts and marketing funds from software publishers; and reducing downward pressure of Software Spectrum’s margins as a result of the use of volume licensing and maintenance agreements. 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 release should be evaluated in light of these important factors.

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Level 3 Communications, Inc.

CONTACT: Media, Josh Howell, +1-720-888-2517, or Chris Hardman,+1-720-888-2292, or Investors, Robin Grey, +1-720-888-2518, or SandraCurlander, +1-720-888-2501, all of Level 3 Communications, Inc.

Web site: http://www.softwarespectrum.com/

Web site: http://www.vyvx.com/

Web site: http://www.level3.com/http://www.level3.com/582.html