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To: M. Charles Swope who wrote (202)	8/29/2001 9:44:50 PM
From: BWAC	of 586

Following is the reply I received from GX Investor Relations concerning the value of GX's investment in Exodus: "... The value of Global Crossing's Exodus shares was marked down during the 2nd quarter 2001. This mark down is reflected within the 10-Q for the 2nd quarter of 2001. The Exodus shares were marked down to $223 million at June 30, 2001." Looks like another $100 million will have to be written off at the end of Q3. ------------------------------------ Lower of Cost or Market is the accounting principle. GX just writes it off more every quarter as the market drags EXDS down. Not much more to go.

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