Broadwing Reprimands COO

CINCINNATI -- Broadwing Inc. (NYSE:BRW - News) today announced that it filed with the Securities and Exchange Commission an amendment to its 2002 10-K Annual Report, following an internal investigation regarding the interest of an executive in an affiliate of a supplier to the Company. The Company emphasized that neither the amendment nor the investigation would have any impact on the Company's financial statements. The amendment reads as follows:

"In October of 1997, our then-President of a subsidiary of the Company, Cincinnati Bell Wireless Company, (and now the Chief Operating Officer of the Company), John F. Cassidy, sold a profits interest in Scorecard Systems Inc. ("Systems"), a company of which he participated in the founding in October 1996, to Systems in exchange for deferred payment obligations aggregating approximately $1.67 million payable from Systems to Mr. Cassidy. An affiliate of Systems, Scorecard Solutions Inc. ("Solutions"), a company that was created for the primary purpose of transacting business with the Company and a company in which Mr. Cassidy did not otherwise have an interest, became a vendor to the Company in December of 1997. Systems and Solutions provide tools to enable telecommunications companies to monitor their businesses. In early 2002, Systems also contracted with the Company while Mr. Cassidy was still a creditor of Systems. The final payment on the deferred obligation in the amount of approximately $676,000 was received by Mr. Cassidy in 2002. The Company paid Solutions and Systems an aggregate of approximately $3.5 million from 1997 through 2002 for services rendered."

The Board of Directors issued a reprimand to Mr. Cassidy.

Broadwing Inc.