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Technology Stocks : Global Crossing - GX (formerly GBLX)

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To: MangoBoy who wrote (251)3/3/1999 12:06:00 AM
From: Teddy   of 15615
 
Tuesday March 2, 11:00 pm Eastern Time
(Strange time to issue a Press Release)

Company Press Release

SOURCE: Global Crossing Ltd.

Global Crossing Expands Pan European Network to
24 Cities and Secures Additional Rights of Way


- German Expansion Adds Six New Cities, Including Berlin, Munich, and Stuttgart, to Pan
European Crossing

- Securing French and British Rights-of-Way Is a Major Step Forward in Development of the
Worldwide Global Crossing Network

- Pan European Crossing Expands to 11,000 Kilometers, Linking 24 Commercial Centers in
Europe to Major Telecom Markets of the World

HAMILTON, Bermuda, March 2 /PRNewswire/ -- Global Crossing Ltd. (Nasdaq: GBLX - news) today announced that it
will be adding an eastern ring of six new cities including Berlin, Munich, and Stuttgart to its previously announced Pan European
network. Global Crossing also announced that it has contracted to secure rights-of-way and conduits for four key routes for
the Pan European Crossing system in France, adding approximately 1,300 kilometers to routes already in place.

In Great Britain, Global Crossing will award construction on certain key routes to McNicholas Construction Company Limited
which will secure rights of way and build conduits for Global Crossing in the United Kingdom. Global Crossing has also
reached agreement in principle with various providers of conduits on its remaining routes in the United Kingdom.

''Global Crossing is the first independent provider of the integrated undersea and terrestrial networks required by
telecommunications and Internet service providers worldwide,'' said Wim Huisman, President of Global Crossing's European
operations.

''Our announcement today is a major step forward in continuing our development of this seamless global network, connecting
the top metropolitan centres in Europe with our undersea cables to the United States, Asia, and Latin America.''

Major Cities of Europe

Global Crossing's Pan European Crossing system will feature more than 600,000 kilometers of fiber, stretched over a
geographic route of 11,000 kilometers, linking 24 major metropolitan centers in Europe to Global Crossing's worldwide fiber
network. Global Crossing has previously announced contracts for rights-of-way and conduits in Germany, Belgium, and the
Netherlands.

Pan European Crossing is being developed in several phases, initially providing connectivity among 19 cities in 1999: London,
Paris, Amsterdam, Rotterdam, Antwerp, Brussels, Hamburg, Hanover, Dusseldorf, Cologne, Frankfurt, Berlin, Dresden,
Leipzig, Nuremburg, Munich, Stuttgart, Strasbourg, and Copenhagen.

In the year 2000, planned expansions of the network will include connections to Lyon, Marseilles, Turin, Milan and Zurich.
Additional network expansion may extend the Pan European Crossing network to Rome, Barcelona, Madrid, Vienna, and
major cities in Scandinavia, eastern Europe, and Russia.

Global Crossing also has projects underway to construct undersea optical fiber communication systems interconnecting Asia,
Latin America, and the U.S., as well as a terrestrial network in Japan.

French routes to Belgium and Germany

Muller Travaux Publics S.A. is the contractor on the first three of the French routes. Alcatel Contracting S.A. is Global
Crossing's contractor for the fourth French route described below. The contracts provide for rights-of- way and construction
of conduits for delivery on set dates at fixed prices. These newly secured routes complete the network in northern France,
connecting three points of presence in Paris to London, Brussels, and major cities in Germany:

-- Paris City Ring, including Roissy, La Defense and La Bourse.

-- Paris to Kortrijk, linking France to Belgium.

-- Paris to Strasbourg, linking France to Germany.

-- Paris to Calais via Veules les Roses, linking Paris to the

French Coast.

Eastern ring extends reach in Germany

Global Crossing has also announced a new eastern ring in Germany, which will add six cities to the Pan European Crossing
network: Berlin, Dresden, Leipzig, Nuremberg, Munich, and Stuttgart. Service to these cities is projected to begin by
December 1999.

Lucent supplies fiber-optic technology

Under a supply contract for Pan European Crossing, Lucent Technologies, Inc., will provide Global Crossing with its
industry-leading optical network systems, such as Lucent's 80-channel WaveStar(TM) dense wavelength division multiplexing
(DWDM) systems and the WaveStar(TM) Bandwidth Manager. Also included is Lucent's state-of-the-art G655 fiber. Under
a broad agreement, signed in January, Lucent will provide Global Crossing priority access to the most advanced technologies
available from Lucent and Bell Labs for both subsea and terrestrial fiber optic systems.

About Global Crossing

Global Crossing is building and operating the world's first independent global fiber optic platform for data, voice, video and
Internet transmissions. The Global Crossing network will span four continents and address 80 percent of the world's
international traffic. Global Crossing's operations are headquartered in Hamilton, Bermuda, with holding company headquarters
in Los Angeles, and offices in New York City; Morristown, New Jersey; San Francisco; Miami; London; Amsterdam; and
Buenos Aires.

Statements made in this press release that state the Company's or management intentions, beliefs, expectations or predictions
for the future are forward-looking statements. It is important to note that the Company's actual results could differ materially
from those projected in such forward-looking statements. Information concerning factors that could cause actual results to
differ materially from those in the forward-looking statements is contained from time to time in the Company's filings with the
U.S. Securities and Exchange Commission (SEC). Copies of these filings may be obtained by contacting the Company or the
SEC.

SOURCE: Global Crossing Ltd.
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