Global Crossing Ltd. (NYSE: GX) and Tycom (NYSE: TCM; BSX: TCM) announced an amicable settlement of all outstanding claims against each other. The claims, which had been brought in both Federal Court and arbitration proceedings, related to agreements between the parties for the construction and operation of Global Crossing's Atlantic Crossing-1 and South American Crossing fiber-optic cable systems.

About TyCom Ltd.:

TyCom is a provider of advanced broadband communications capacity, systems and services. TyCom is a leading fully integrated supplier of transoceanic optical networks, undersea technology development and application, and operates a fleet of cable ships. For more information, visit www.tycomltd.com.

About Global Crossing:

Global Crossing provides telecommunications solutions over an integrated global IP-based network. Global Crossing provides managed data and voice products and services. For more information, visit www.globalcrossing.com.