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Politics : Formerly About Applied Materials

AMAT 301.11

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Jan 9 9:30 AM EST

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To: StanX Long who wrote (61008)	2/27/2002 2:28:32 AM
From: StanX Long	Read Replies (1) of 70976

Global Crossing warns 'significant' loss By Mike Maynard 02/26/2002 22:22 csfbdirect.com Global Crossing Ltd., the telecommunications network operator mired in Chapter 11 bankruptcy proceedings, said its consolidated cash position stood at $1.52 billion as of Feb. 25. The company said its preliminary results show revenue from continuing operations as totaling $804 million for the fourth quarter and $3.2 billion for all of 2001. However, Global Crossing said it anticipates posting "significant" losses for the quarter and the full year, even as efforts continue to arrive at the size of a writedown for its tangible assets. The magnitude of the losses won't be known until the company files its 10K with the SEC, reflecting management's decision to delay the release of anything more than revenue data while Andersen audits the results. Separately, Asia Global Crossing said it's hired outside financial advisers as it also projected "material" losses for the quarter and full year.

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