Global Crossing's IXnet To Provide Connectivity To International Securities Exchange -ISE- Over Worldwide Managed IP Network.

Business Editors

NEW YORK--(BUSINESS WIRE)--Nov. 14, 2000

ISE Clients To Connect Traders to Nation's First

Entirely Electronic Options Market

Over Global Crossing's Financial Extranet

IXnet, a Global Crossing Ltd. company (NYSE: GX) and provider of a high-performance global Extranet for the financial services community, today announced an agreement to provide managed TCP/IP broadband network to the International Securities Exchange (ISE), the nation's first entirely electronic options market, connecting ISE members and clients over IXnet's global Extranet.

IXnet will provide connectivity for ISE's Electronic Access Members (EAMs), facilitating ISE's mission to create and maintain an efficient, cost-effective and liquid market for stock options through a new market structure and automated trading systems. IXnet's customer base of leading financial institutions in 44 worldwide financial centers, will be able to efficiently access the fully-electronic options exchange, which plans to list and trade the top 600 equity options classes representing over 90% of the option industry's average daily trading volume.

The ISE provides substantial savings and safeguards for its participants through greatly reduced operating/transaction costs and the application of market-proven, state-of-the-art software technologies and hardware. ISE comprises three member groups: Primary Market Makers (PMM), Competitive Market Makers (CMM) and Electronic Access Members (EAM).

"The ISE is delivering an important value-added service to the financial community," said Jim Demitrieus, President of IXnet. "We are pleased that they have selected us to rapidly expand their global reach, and to provide over 1,400 financial services firms on our Extranet access to a highly efficient new electronic options marketplace. Our on-net customers will benefit the most from this relationship by gaining immediate access to ISE's services and liquidity."

About International Securities Exchange: ISE is the first nationally registered securities exchange in twenty-seven years, the first fully electronic options exchange in the United States, and the world's first options marketplace combining electronic trading and auction market principles. Trading in this innovative market began on May 26, 2000. ISE has announced its intention to list the top 600 equity options classes representing over 90% of the option industry's average daily trading volume. ISE's rollout schedule involves starting trading with a small number of options classes and growing over time to the full list of 600. ISE headquarters is located at 60 Broad Street, New York, NY 10004 and can be reached at [phone]; for additional information, visit its web site at www.iseoptions.com.

About IXnet: IXnet, a Global Crossing Ltd. company (NYSE: GX), provides a high performance global Extranet designed primarily for the financial community and similar service providers. Through a single connection, IXnet delivers end-to-end multiple data and voice communications solutions around the world, 24 hours a day. Customers get voice and data connectivity, plus financial content and transactional capabilities, through the IXnet Extranet without having to access multiple disparate public networks or rely on multiple customer service organizations. With users in more than 44 financial centers worldwide and more than 1,500 customer access nodes, IXnet serves more than 1,200 of the world's top financial firms. For more information about IXnet, please visit www.ixnet.com.

About Global Crossing

Global Crossing Ltd. (NYSE: GX) 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 operations are headquartered in Hamilton, Bermuda, with principal offices in Los Angeles, California; London, England; Amsterdam, The Netherlands; Madison, New Jersey; Rochester, New York; Sunnyvale, California; New York, New York; and Miami, Florida. Visit Global Crossing at www.globalcrossing.com on the Web.

This press release may contain forward-looking information, including statements regarding strategic direction. These comments constitute forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995) which involve significant risks and uncertainties. Actual results may differ materially from the information discussed in these forward looking statements. Among the factors that could cause actual results, performance or achievement to differ materially from those described or implied in the forward-looking statements are general economic conditions, competition, potential technology changes, changes in or the lack of anticipated changes in the regulatory environment in various countries, the ability to secure partnership or joint-venture relationships with other entities, the ability to raise additional capital to finance expansion, and the risks inherent in new product and service introductions and the entry into new geographic markets.