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

To: Rajiv who wrote (14118)	10/3/2001 8:59:24 AM
From: JakeStraw	Read Replies (1) \| Respond to of 15615

Global Crossing and SIA of Italy Form Strategic Partnership to Provide Outsourced Integrated Network Services to Financial Markets Companies Worldwide -- The partnership leverages scalability, reliability and security of Global Crossing's network to achieve worldwide reach for SIA's services biz.yahoo.com MILAN, Italy--(BUSINESS WIRE)--Oct. 3, 2001-- -- SIA and Global Crossing will jointly manage X.25 to IP migration of SWIFT's financial services delivered within Italy through SIA's IP network SIA will deploy financial services outside of Italy through network connectivity provided by Global Crossing Societa Interbancaria per I'Automazione (SIA), Italy's most extensive financial services and network provider, today announced a partnership with Global Crossing (NYSE:GX), the premier provider of integrated telecommunications solutions over the world's most extensive fiber-optic infrastructure. Under the agreement, SIA will provide access to its IP-based network infrastructure to Global Crossing for the delivery of SWIFT financial services to the Italian financial community. Throughout this network transition, SIA will remain the premier provider of Global Crossing-SWIFT services to Italian financial institutions within Italy. Outside of Italy, SIA will deploy managed network services on Global Crossing's global fiber optic infrastructure to Europe, North America, Asia and Latin America. This partnership enables SIA to expand its global reach and service offering while maintaining its high level of service and support. The five year agreement is estimated to be worth approximately $36 million for Global Crossing. The partnership leverages the scalability, reliability and security of Global Crossing's network to achieve worldwide reach for SIA's services. It will further ensure the high quality of SIA's financial solutions provided to banks and financial institutions that are currently available within Italy. ``We were looking for a way to expand our worldwide reach and outsource our network management needs while maintaining our position as Italy's most extensive network provider to financial institutions,'' said Renzo Vanetti, chief executive officer of SIA. ``Under this unique agreement, we will remain the single point of contact for our Italian customer base. By partnering with Global Crossing, we can leverage our existing network while offering expanded international connectivity and a wider range of network services to a global audience.'' ``This strategic partnership affords both SIA and Global Crossing expanded opportunities to service the financial community,'' said Gary Cohen, president and chief operating officer of Global Crossing Solutions. ``By utilizing Global Crossing's fiber optic capabilities, SIA can offer its clients extended services and greater global connectivity. This partnership will add new customers to our Financial Markets Extranet and enable the financial services community to collaborate and communicate more efficiently.''

To: Rajiv who wrote (14118)	10/3/2001 9:11:26 AM
From: Elroy	Respond to of 15615

GX will have to raise more money and the financing will likely be very dilutive. If they are fully funded, why will they have to raise money again?