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To: JEB who wrote (14909)	11/23/1998 10:31:00 AM
From: EyeDrMike	Respond to of 119973

NEW YORK--(BUSINESS WIRE)--Nov. 23, 1998--Globix Corporation (NASDAQ:GBIX) today announced the purchase by Marc H. Bell, its President and Chief Executive Officer, of 125,000 common shares from Harpoon Holdings Ltd. in a privately-negotiated transaction. An additional 125,000 shares were purchased by VMR Luxembourg, an affiliate of Value Management & Research, a German public company, which had invested $2.2 million in the Company in 1997. Harpoon Holdings, based in Singapore, was an early investor in Globix prior to its public offering. Harpoon will retain 612,500 shares of the Company, which represents approximately 15% of the total issued and outstanding shares.