Notice to All Current and Former Kiewit Employees That Participated in Stock Loan Programs From the Securities Arbitration Law Firm of Klayman & Toske

3 August 2006

The Law Firm of Klayman & Toskes, P.A. ("K&T")( http://www.nasd-law.com ) announced today that it has filed a lawsuit before the New York Stock Exchange ("NYSE"), Case No. 06-16519, on behalf of a Kiewit employee who lost $1,660,299, due to the mismanagement of Class D Kiewit stock, which was converted to shares of Level 3 Communications (Nasdaq: LVLT) and subsequently used as collateral for loans as part of a bank financing program. The Level 3 Communications stock was held at the firm in both certificate form and in brokerage accounts.

The lawsuit alleges that the broker-dealer recommended a stock loan program through the use of Level 3 Communications stock that was held in both retail brokerage accounts and affiliated banks. As a result of the precipitous decline in Level 3 Communications stock, the loan was "called" when the collateral became insufficient. Given the full-service brokerage firm's knowledge of the stock held as collateral for the bank loan, the value of the stock should have been protected with the account equity held in the brokerage accounts. Protection of the concentrated stock positions could have been achieved through the use of risk management strategies. Such risk management strategies include the use of options, known as a "zero cost" collar, which is a strategy that should have been implemented at the time the stock was collateralized for a loan.

The sole purpose of this release is to investigate, on behalf of our clients, sales practice violations of licensed brokers at various major brokerage firms and the affiliated banks that originated the loans. K&T is pursuing arbitration suits before the NYSE and the National Association of Securities Dealers ("NASD") for securities violations including the misuse of stock loan programs, failure to supervise, unsuitability investment advice, misrepresentation and material omissions of fact. We would greatly appreciate any information from current and former Kiewit employees concerning the method or process used by various major brokerage firms and affiliated banks with regard to clients' stock used as collateral for loans, and the handling of their accounts.

K&T represents high net-worth investors throughout the nation in securities litigation and arbitration matters. If you wish to discuss this announcement or have information relevant to our securities arbitration claims, please contact Jahan K. Manasseh, Esquire of Klayman & Toskes, P.A., at 888-997-9956, or visit us on the web at http://www.nasd-law.com .

Source: prnewswire

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