David Walsh Named Co-Chief Operating Officer, Sales & Marketing at Global Crossing Ltd.

Business Editors

HAMILTON, Bermuda--(BUSINESS WIRE)--Aug. 11, 2000

Global Crossing Ltd. (Nasdaq: GBLX), which is building and offering services over the world's most extensive global IP-based fiber optic network, today announced that David A. Walsh has been named Co-Chief Operating Officer (Co-COO), Sales and Marketing.

Walsh has been serving as Executive Vice President, Sales and Marketing at Global Crossing. Gary Cohen, who shares the title of Co-COO, retains his current responsibilities for regional and network operations, marine operations, construction, technology and provisioning. Both Walsh and Cohen will continue to report directly to Leo J. Hindery, Jr., Chief Executive Officer of Global Crossing.

"As we complete the buildout of our global network, David is already quickly executing our next-tier strategy to go desktop to desktop," said Hindery, "providing to multinational corporations and others the next-generation data backbone that is essential to effectively manage far flung worldwide operations and surging cross-border information traffic flows."

Added Hindery: "Our recent marketing success has been exceptional. The world's largest telecommunication carriers discovered our network early on and continue to be great customers. However, with the acquisition early this year of the sister companies, IXnet and IPC, founded by David Walsh, we added the world's major financial trading houses to our customer base. Last month we broke through into the worldwide government networking market with a $270-million contract to provide a worldwide Virtual Private Network for 240 British embassies and consulates. David's new and elevated position in the company brings with it the authority and the resources necessary to rapidly build on this strong early success. With Gary Cohen responsible for completing and provisioning history's first truly global fiber-optic network, and David Walsh committed to bringing world-class market sectors on line with all due speed, Global Crossing has fielded a first-mover senior management partnership unparalleled in the international telecommunications industry."

Mr. Walsh founded IXnet in 1993 and served as chief executive officer of IXnet and its sister company, IPC. Prior to forming IXnet, Mr. Walsh served as a technology consultant to the New York Futures and Commodities Exchanges. Among his responsibilities was the development of the combined exchange membership trading network. In addition, he was the senior manager in charge of the design of technology systems for the new trading facility for the Exchanges. Mr. Walsh received his B.B.A. from Valdosta State College and an M.P.S. in telecommunications from New York University.

About Global Crossing

Global Crossing Ltd. (Nasdaq: GBLX) is building and offering services over the world's most extensive global IP-based fiber optic network, which will have more than 101,000 route miles, serving five continents, 27 countries and more than 200 major cities. Global Crossing's subsidiary, GlobalCenter Inc., is a leading Internet service company, and its customers own many of the largest and most densely trafficked sites on the Web. Global Crossing's operations are headquartered in Hamilton, Bermuda, with principal offices in Los Angeles, California; London, England; Amsterdam, The Netherlands; Morristown, New Jersey; Rochester, New York; Sunnyvale, California; and Miami, Florida. Visit Global Crossing at www.globalcrossing.com on the Web.

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.