Level 3 Completes Sale of Coal Mining Operations

Level 3 Communications, Inc. (NYSE: LVLT) today announced that it has completed the sale of its coal mining business as part of its long-term strategy to focus on core business operations. On Nov. 10, 2011, Level 3 entered into an agreement with an affiliate of Ambre Energy Limited to sell all of the common stock of the holding company for the coal mining operations.

As a result of the transaction, the liabilities associated with the coal mining business will be removed from Level 3's balance sheet as of the closing.