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To: Tim Luke who wrote (2628)	9/27/2000 8:31:50 PM
From: Tim Luke	Read Replies (1) \| Respond to of 8686

READ THE BOLD PRINT September 27, 2000 17:09 Exodus close to buying Global Crossing unit-sources NEW YORK, Sept 27 (Reuters) - Exodus Communications Inc. is close to a deal to buy Global Crossing Ltd.'s GlobalCenter Web hosting unit, which manages companies' Web sites, for about $6.5 billion in stock, sources familiar with the negotiations said on Wednesday. The deal, which could be announced as early as Thursday, comes just two months after the companies abandoned their initial negotiations. Santa Clara, Calif.-based Exodus and Bermuda-based Global Crossing could not be immediately reached for comment. The Global Centre Web-hosting business offers storage and maintenance facilities for Web sites and other Internet services such as applications management. The expected deal also includes a 10-year network services agreement that could generate about $4 billion in revenues for Global Crossing, sources said. Exodus will commit to using Global Crossing's network for at least two-thirds of its network purchases in Asia, and at least 50 percent of its purchases in the rest of the world, sources said. The companies also will form a joint venture in Asia that will provide Web hosting services, sources said. The venture will be two-thirds owned by Exodus and one-third owned by Asia Global Crossing Ltd., an entity owned by Global Crossing, Microsoft Corp. and Softbank Corp.