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

To: changedmyname who wrote (13488)	8/17/2001 4:32:44 PM
From: Rob C.	Respond to of 15615

globalcrossing.com Global Crossing Statement On DOD Contract Hamilton, Bermuda, August 17, 2001 - Global Crossing (NYSE: GX), which provides telecommunications solutions over the world's first integrated global IP-based fiber optic network, today issued the following statement from Chief Executive Officer Tom Casey: "Although no official action has been taken by the U.S. Department of Defense (DoD), we have been notified that the contract awarded in July by the DoD to Global Crossing Government Markets to provide advanced wide area network services for the Defense Research and Engineering Network (DREN) may have to be re-bid to address procedural issues in the procurement process that were identified by the DoD after the contract was challenged by unsuccessful bidders. These procedural issues have nothing to do with Global Crossing's bid, which was determined by the DoD to be superior to all other bidders on both technical and value criteria. Global Crossing is confident that we will retain the contract award at the conclusion of any new DoD procedures because the unsuccessful bidders are unable to provide DREN with the cost-effective capabilities provided by Global Crossing. As previously disclosed, the DREN contract is valued at $137 million over three years. While Global Crossing is confident it will win any potential re-bid, the loss of this contract would not have a material effect on the company's financial results." About Global Crossing Global Crossing Ltd. (NYSE: GX) provides telecommunications solutions over the world's first integrated global IP-based network, which reaches 27 countries and more than 200 major cities around the globe. 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 provides services in Asia through its subsidiary, Asia Global Crossing (NYSE: AX). 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; 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. CONTACT GLOBAL CROSSING Analysts / Investors Ken Simril +1 310 385 5200 investors@globalcrossing.com Press Kim Polan + 1 212 687 8080 kpolan@sardverb.com Tom Goff + 1 310 385 5231 tgoff@globalcrossing.com © 2001 Global Crossing Holdings Ltd. All Rights Reserved \| Acceptable Use Policy

To: changedmyname who wrote (13488)	8/17/2001 4:34:47 PM
From: CRL	Respond to of 15615

Jason, I don't post here often but I've been here on a daily basis for over two years. So I haven't just popped in and popped off. You made a key point a few posts back: there CAN be a big difference between a company in trouble and a stock in trouble. There's been no question that GX has been a stock in trouble for quite a while now. But I believe it's clear that the company itself has been executing really beautifully under the difficult circumstances. My take on most of the disagreements on this board is that one person makes a point which is essentially about the stock and another reads it like it referred to the company. I read someone going on and on about what a dog GX is and my reaction will be different if I think the dog being referred to is the stock or the company. I've lost a lot of money on GX, no doubt about it. But I haven't lost any confidence in the ultimate success of the business and the potential for profit in the stock. If someone says GX is a POS and I hear it as a comment on the company, I'll react very differently than if the comment is about the stock performance. The stock performance is horrible, of course. But the company, in my opinion, is as attractive as ever.

To: changedmyname who wrote (13488)	8/18/2001 8:06:55 AM
From: Ally	Read Replies (3) \| Respond to of 15615

I'm upset that the stock is in the dumps too, however, I don't think we can hold anyone here responsible for a stock performance. There are posts here saying that Robert has to have accountability for his unchanged views... the question is why should he or anyone else here be accountable for their views? This is a forum where views are posted, debates are conducted, from which each of us draw what we want to assist us in our personal decisions. This is one of the better boards on SI, with tons of news gathering, perceptions, and analysis. However, as we have seen, even with the best intelligence and information, it matters not when it comes to the stock price. There is a bigger world out there, and they see things differently from the people here. So, we just have to take care of ourselves.