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

To: jopawa who wrote (11239)	5/16/2001 10:30:14 AM
From: jopawa	Read Replies (1) \| Respond to of 15615

A co comfortable with their cash position and not wishing to dilute the shareholders, my take on this, Robert? Tuesday May 15, 8:31 pm Eastern Time Press Release Global Crossing Holdings Ltd. Declares Dividend on Its Senior Exchangeable Preferred Stock HAMILTON, Bermuda--(BUSINESS WIRE)--May 15, 2001--Global Crossing Holdings Ltd. today announced that its Board of Directors has declared a dividend, payable in cash, on its Senior Exchangeable Preferred Stock due 2008. A distribution of $5.25 per share of Senior Exchangeable Preferred Stock is payable on June 1, 2001 to holders of record on May 15, 2001. Prior to June 1, 2002, Global Crossing Holdings has the option to pay dividends in cash or additional shares of Senior Exchangeable Preferred Stock. Since the issuance of the Preferred Stock on December 2, 1998, Global Crossing Holdings has chosen to pay cash dividends on each dividend payment date. Global Crossing Holdings Ltd. is a subsidiary of Global Crossing Ltd. (NYSE: GX - news). About Global Crossing Global Crossing Ltd. (NYSE: GX - news) provides telecommunications solutions over the world's first integrated global IP-based network, which will have approximately 100,000 route miles, reaching 27 countries and more than 200 major cities. Global Crossing serves many of the world's largest corporations, providing a full range of managed data and voice products and services. Global Crossing operates throughout the Americas, Europe, and the Asia/Pacific region, and provides services in Asia through its subsidiary, Asia Global Crossing (Nasdaq: AGCX - news). Global Crossing Solutions provides integrated telecommunications solutions, including network outsourcing, to large global enterprises. Please visit www.globalcrossing.com or www.asiaglobalcrossing.com for more information. 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; possible reductions in demand for our products and services due to competition or changes in industry conditions; 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.