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Technology Stocks : Global Crossing - GX (formerly GBLX) -- Ignore unavailable to you. Want to Upgrade?

To: CF Rebel who wrote (4309)	2/15/2000 8:22:00 AM
From: Teddy	Respond to of 15615

ALCATEL INSTALLS SUBMARINE LINK IN THE NORTH SEA AS PART OF GLOBAL CROSSING'S PAN-EUROPEAN NETWORK quote.bloomberg.com ALCATEL INSTALLS U.K./BELGIUM UNDER SEA FIBER OPTIC CABLE LINK (The following is a reformatted version of an electronic mail press release issued by Alcatel.) ALCATEL INSTALLS SUBMARINE LINK IN THE NORTH SEA AS PART OF GLOBAL CROSSING'S PAN-EUROPEAN NETWORK Paris, Feb. 15 -- Alcatel has completed the installation of an undersea link connecting the UK and Belgium in the North Sea, in record time. This turnkey contract, worth US$30 million, was signed with Global Crossing on May 1999. The 130 kilometer long system forms part of Global Crossing's PEC (Pan-European Crossing) network. The contract includes the design, manufacture and installation by Alcatel of both the cable and the terminal stations. The system is unrepeatered and equipped with 24 fiber optic pairs. Alcatel and Global Crossing worked closely on this project to engineer significantly enhanced protection for the cable thanks to: * a double armor for additional security and reliability. * burial one or two meters below the sea bed, depending on the sea bed's composition and the tides. This reduces the risks posed by vessels' anchors and fishing nets. Alcatel provided a full turnkey implementation of managed all the work for the terminal stations, from landing site research to the technical equipping of the stations with power distribution, emergency power and air conditioning. Alcatel also helped Global Crossing obtain the different requested permits. Global Crossing is building several rings in order to link main European cities. The entire network will be operational in the year 2000. Paul M. Gabla, Vice-President Marketing and Contracting, of Alcatel's submarine network activities, commented: ``We were able to manage this project well and to be absolutely on time thanks to close cooperation with Global Crossing which, in particular, has allowed us to anticipate the timings of the various related operations, such as cable manufacturing.' Contacts Press relations Pascale Strubel Tel: +33 (0)1 40 76 12 69 pascale.strubel@alcatel.fr Sophie Pepe Tel: +33 (0)1 55 51 63 57 sophie.pepe@asn.alcatel.co.uk International Media Edward Lloyd or Simon West Tel: +44 (0) 1799 506 187 Barrington Lloyd International Edward.Lloyd@bli.co.uk Investor relations Claire Pedini Tel: +33 (0)1 40 76 13 93 claire.pedini@alcatel.fr Charlotte Laurent-Ottomane Tel: +33 (0)1 40 76 13 30 charlotte.laurent-ottomane@alcatel.fr Emmanuel Spite Tel: +33 (0)1 40 76 16 04 emmanuel.spite@alcatel.fr Peter Campbell Tel: +1 972 519 4347 peter.campbell@usa.alcatel.com

To: CF Rebel who wrote (4309)	2/15/2000 9:46:00 AM
From: quidditch	Read Replies (1) \| Respond to of 15615

CF, some clarifications on "insider" status: the largest institutional shareholder, CNA Financial, holds just under 5% of GBLX, therefore is not classified as an insider. The 5% holding threshold does not necessarily confer "insider" status (where the holder is subject to the short swing profit rules under Section 16 of the Exchange Act). Holding more than 5% does implicate reporting obligations under Rules 13d-1 and 13d-2 of the Exchange Act. I know this is not what you were getting at in response to another poster--just wanted to clarify. The statement: if the Institutions own more than 5%, then they cannot sell without notification, and my understanding was insiders were considered anyone unable to trade without the notification... confuses "insider" with 5% holder status and is incorrect to the extent it implies that trading is conditioned on prior or even contemporaneous notification. As long as an institution does not hold securities with the intention of changing or influcencing control, its reporting obligation is within 10 or 45 days after the end of the month or year, respectively (depending on the percentage held 10%/5% and the transaction conferring change in position), in which the reportable transaction took place (is more complicated than this, but too long to recite). CF, thanks for your reporting on institutional ownership information and sites--helpful to all. Steve

To: CF Rebel who wrote (4309)	2/15/2000 11:22:00 PM
From: Theophile	Respond to of 15615

Rebel, thanks for the URL. I have gone ahead and requested IR to send out the most recent updates on Outstanding, Insiders, Institutional, and Float........I cannot make out the picture properly........we shall go back to square one. Whatever is going on, the media blitz, having the earnings on a day when only one other company is reporting, CPI will be out same day, etc., this Friday is already commanding my attention..........this is unusual for me. I will post the info when it arrives, probably next week.....I used a previous email and hit reply, sometimes that will get priority....maybe. Martin Thomas