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Level 3 Completes Acquisition

BROOMFIELD, Colo. -- Level 3 Communications, Inc. (Nasdaq: LVLT) today announced that it has completed its acquisition of the Content Delivery Network (CDN) services business of SAVVIS, Inc. (Nasdaq: SVVS).

Pursuant to the definitive agreement, dated December 23, 2006, Level 3 has paid $132.5 million in cash to acquire certain assets, including network elements, customer contracts, and intellectual property used in SAVVISs CDN business.

“The opportunities presented by delivering rich media applications over the Internet continue to increase, and the addition of CDN capabilities to our service portfolio will enable Level 3 to better address this important market,” said Kevin O’Hara, president and chief operating officer of Level 3. “This acquisition does not require the type of physical integration associated with the metro and backbone transactions we announced in 2006. We are confident in our ability to incorporate this key capability into our service portfolio.”

Level 3 Communications Inc.