Circuits (IPLC) in Korea Asia Global Crossing and DACOM Corporation announced that their Korea-based joint venture DACOM Crossing has obtained a Network Service Provider license. This license, which allows DACOM Crossing to own and operate telecommunications infrastructure facilities in Korea, paves the way for Seoul to be connected to the worldwide, city-to-city Asia Global Crossing/Global Crossing Network.

Asia Global Crossing is working with DACOM Crossing to bring East Asia Crossing to Korea. East Asia Crossing, a privately owned and, upon completion, fully redundant pan-Asian cable system, is part of the seamless, worldwide Asia Global Crossing/Global Crossing Network. Expected to land in Korea at the end of this month, East Asia Crossing already connects Hong Kong, Japan, and Taiwan, with Singapore to be connected in the fourth quarter, Malaysia and the Philippines in early 2002, and China as regulations permit.

East Asia Crossing has an initial capacity of 80 gigabits per second and is upgradeable to 2.56 terabits, which is about 25 times the international capacity now available to Korea. Through DACOM Crossing, Asia Global Crossing will be able to extend aspects of its international line leasing services offering, including International Private Line Circuits, to carriers, ISPs, and enterprises in Seoul, connecting Seoul with the more than 200 major cities on the Asia Global Crossing/Global Crossing Network.

DACOM Crossing is a joint venture between Asia Global Crossing, which holds 49 percent, DACOM, which holds 48.9 percent, and OPICOM, which holds 2.1 percent. DACOM Crossing will provide terrestrial backhaul and high capacity services at competitive prices to carriers, Internet service providers, and enterprises in Korea.

About DACOM Corporation:

DACOM was founded in 1982 as an information and communications company. For the last 19 years, DACOM has played a central role in telecommunications development as a pioneer in the nation's information and communications industry. DACOM also offers international and domestic long-distance telephone service, electronic commerce, Internet and various total solution services for corporate customers.

About Asia Global Crossing:

Asia Global Crossing (NYSE: AX) , a public company whose largest shareholders include Global Crossing (NYSE: GX) , Softbank (Tokyo Stock Exchange: 9984), and Microsoft (NASDAQ: MSFT) , provides the Asia Pacific region with integrated telecommunications and IP services. For more information, visit www.asiaglobalcrossing.com.