Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Teddy who wrote (4638)	3/2/2000 7:28:00 PM
From: Teddy	Respond to of 15615

Here's the PR: Global Crossing Announces Plan to Create GlobalCenter Tracking Stock Hamilton, Bermuda - March 2, 2000 - Global Crossing Ltd. (Nasdaq - GBLX) today announced plans to create a new class of Global Crossing common stock that would track the performance of the complex web hosting business operated by its wholly owned subsidiary, GlobalCenter Inc. Global Crossing also announced its intention to make an initial public offering of shares of the new GlobalCenter tracking stock and to file a registration statement under the U.S. Securities Act of 1933, as amended, in respect of the proposed offering. Global Crossing intends to use the net proceeds from the offering primarily to make additional capital investments in its GlobalCenter operations and for general corporate purposes. Global Crossing anticipates that the offering, which is subject to the approval of the company's shareholders, will be completed this summer, subject to market conditions. The offering will be made only by means of a prospectus contained in such registration statement as filed with the U.S. Securities and Exchange Commission. Statements made in this press release that state the Company's or management's intentions, beliefs, expectations, or predictions for the future are forward-looking statements. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the Company's actual results to differ materially from those projected in such forward-looking statements. These risks, assumptions and uncertainties include: the ability to complete systems within currently estimated time frames and budgets; the ability to compete effectively in a rapidly evolving and price competitive marketplace; changes in the nature of telecommunications regulation in the United States and other countries; changes in business strategy; the successful integration of newly-acquired businesses; the impact of technological change; and other risks referenced from time to time in the Company's filings with the Securities and Exchange Commission. # # # Press contacts: Kim Polan + 1 212 687 8080 kpolan@sardverb.com Tom Goff + 1 310 385 5231 tgoff@globalcrossing.com Investor contacts: Jerry Leshne + 1 310 385 3838 investors@globalcrossing.com Jensen Chow +1 310 385 5283 investors@globalcrossing.com