Global Crossing completes core worldwide network

June 21, 2001
June 21, 2001--Global Crossing Ltd., which provides integrated telecommunications solutions over an extensive global IP-based fiber optic network, announced it has completed its core network linking 27 countries.

Global Crossing Ltd. (NYSE: GX), which provides integrated telecommunications solutions over an extensive global IP-based fiber optic network, announced it has completed its core network linking 27 countries and over 200 major cities in Europe, North America, South America and Asia. The final connection was between Lima, Peru and South American Crossing, which is already operational in major markets throughout the region, including Mexico, Argentina, Brazil, Chile, Venezuela and Panama.

According to CEO Tom Casey, "Global Crossing's business plan is fully funded, including receipt of over $3 billion in after-tax proceeds from the ILEC sale closing on June 29. In addition, we have already recouped more than half of our construction costs through existing sales contracts."

The network will enables Global Crossing to offer managed broadband services on a global basis to enterprises. Current customers include carriers such as Deutsche Telekom, British Telecom, Telecom Italia and Qwest; institutions such as SWIFT, the British Government and the U.S. Navy; and corporations such as JP Morgan Chase, Goldman Sachs, Procter & Gamble, Merck, Sony, Pfizer, Microsoft, NEC, American Express, Yahoo! BB, CNBC Europe, Fujitsu and DirectTV.

Beyond its core network, Global Crossing is currently building a previously announced Asian extension that will connect Singapore, Malaysia and the Philippines to the global network. This fully funded extension is expected to be complete in the first quarter of next year. Global Crossing is also extending fiber directly into customer premises in many major markets.

About Global Crossing:

Global Crossing Ltd. (NYSE: GX) provides telecommunications solutions over an integrated global IP-based network. For more information, visit www.globalcrossing.com or www.asiaglobalcrossing.com.

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