MONROE, La., Aug. 14 /PRNewswire-FirstCall/ -- CenturyLink (CenturyTel, Inc.) announced today that it has been notified of an unsolicited "mini-tender offer" by TRC Capital Corporation to purchase up to 3,000,000 shares of CTL common stock, representing approximately 1.01 percent of CTL's outstanding shares. TRC Capital's offer price of $29.95 represents, as TRC's own offer document acknowledges, a 4.98 percent discount to the closing price of CTL stock on July 29, 2009 ($31.52), the day prior to the date of the offer, and a 5.82 percent discount to yesterday's closing price of $31.80.

CenturyLink recommends against shareholders tendering their shares in response to TRC Capital's unsolicited mini-tender offer. Mini-tender offers such as this one avoid many of the investor protections afforded for larger tender offers, including the filing of disclosure and other tender offer documents with the Securities and Exchange Commission (SEC) and other procedures required by United States securities laws. CenturyLink is in no way associated with TRC Capital Corporation, its mini-tender offer or the offer documentation.

CenturyLink strongly urges investors to obtain current market quotations for their shares of CTL common stock, to consult with their financial advisors and to exercise caution with respect to TRC Capital's offer. Shareholders who may already have tendered their shares may withdraw them by providing the written notice described in the TRC Capital offering documents prior to the expiration of the offer currently scheduled for 12:01 a.m., New York City Time, on Friday, August 28, 2009.

The SEC has issued an investor alert regarding these mini-tender offers. The SEC has noted that, in making the offers at below-market prices, bidders are "hoping that they will catch investors off guard if the investors do not compare the offer price to the current market price." The SEC's advisory may be found on the SEC's website at www.sec.gov/investor/pubs/minitend.htm. The Canadian Securities Administrators have also issued an advisory entitled "Mini-Tender Offers - Watch Out For Mini-Tender Offers Below Market Price!", which may be found at www.osc.gov.on.ca/Media/NewsReleases/1999/nr_19990927_mini.jsp.

CenturyLink refers broker/dealers and other market participants in the dissemination of TRC Capital's offer to the SEC's recommendations to broker/dealers in these circumstances, which can be found at www.sec.gov/divisions/marketreg/minitenders/sia072401.htm and to information issued by the New York Stock Exchange on Sept. 28, 2001, regarding the dissemination of mini-tender offer materials, which can be found by entering "Information Memo Number 01-27" in the search box on the NYSE's website home page at www.nyse.com .

CenturyLink is a leading provider of high-quality voice, broadband and video services over its advanced communications networks to consumers and businesses in 33 states. CenturyLink, headquartered in Monroe, La., is an S&P 500 Company and expects to be listed in the Fortune 500 list of America's largest corporations. For more information on CenturyLink, visit www.centurylink.com.

SOURCE CenturyLink