Global Crossing Provides Integrated Communications Services to More than 730 locations for Jewelry Retailer Piercing Pagoda.

Business Editors

ROCHESTER, N.Y. and BETHELEHEM, Pa.--(BUSINESS WIRE)--Jan. 17, 2000

Global Crossing Ltd. (Nasdaq: GBLX), today announced an integrated communications agreement with Piercing Pagoda Inc. (Nasdaq: PGDA), the number one jewelry-kiosk-retailer in North America. Global Crossing's Business Services Division, one of the country's leading providers of integrated communications and Internet services, will supply Piercing Pagoda Inc. with local, long distance and toll free services, as well as unified billing, for 736 of its locations nationwide.

"Global Crossing has been able to integrate the communications systems for our more than 700 domestic locations, as well as providing us with a single bill for all of our services - which is a significant efficiency for us," said Piercing Pagoda Treasurer, Brandon Lehman. "As the demand on our business needs increase, and we continue to open new locations, we believe that Global Crossing's flexible, customer service-driven communications solutions will help us support that growth."

"Global Crossing is pleased to add Piercing Pagoda, the nation's largest specialty retailer of gold jewelry through kiosk stores, to our growing list of customers from the retail industry," said Donna Reeves, Global Crossing President of Business Services Division. "By utilizing Global Crossing services, Piercing Pagoda Inc. will realize increased efficiencies and cost savings by integrating communications services for its multiple locations."

As a partner in National Retail Federation's (NRF) Member Discount Program, Global Crossing offers NRF members competitive pricing and unique industry-driven packaging on a variety of telecommunication services - all posted on a single monthly invoice. Global Crossing's retail specific telecommunication package is called ServicePro(SM).

ServicePro(SM) contains a wide variety of products designed to help retailers deliver exceptional service to their customers, while streamlining communication between multiple store locations, suppliers and distribution centers. This package includes high-speed Internet connectivity over Digital Subscriber Line (DSL) technology; Dedicated Internet Access; Web hosting; frame relay; video, voice and web conferencing, and toll-free services.

About Piercing Pagoda Inc:

Piercing Pagoda Inc. is the top fine-jewelry-kiosk retailer in the nation, with 941 stores in the United States and Puerto Rico, as well as a premier provider of gold and sterling silver jewelry. Piercing Pagoda Inc. has over 28 million "ears" of experience. Piercing Pagoda associates receive comprehensive ear piercing training and are recertified annually. Piercing Pagoda Inc. uses one-step, single-use, sterilized, prepackaged ear piercing studs that meet or exceed FDA (Food & Drug Administration) guidelines.

About the National Retail Federation:

The National Retail Federation (NRF) is the world's largest retail trade association with membership that comprises all retail formats and channels of distribution including department, specialty, discount, catalogue, Internet and independent stores. NRF members represent an industry that encompasses more than 1.4 million U.S. retail establishments, employs more than 20 million people -- about 1 in 5 American workers -- and registered 1999 sales of $2.8 trillion.

About Global Crossing:

Global Crossing Ltd. (Nasdaq: GBLX) is building, and offering services over, the world's first global fiber optic network with 97,200 announced route miles, serving five continents, 24 countries and more than 200 major cities. The Global Crossing Network and its telecommunications and Internet product offerings will be available to over 80% of the world's international communications traffic. Global Crossing hosts more than 300 of the top Internet brands at its web hosting division, GlobalCenter. Among the brands are some of the largest and most densely trafficked sites on the Web, including Yahoo!, The Motley Fool, Ziff Davis, MP3.com and eToys. Global Crossing's operations are headquartered in Hamilton, Bermuda, with principal offices in Los Angeles, California; London, England; Morristown, New Jersey; and Rochester, New York. For more information, visit www.globalcrossing.com.

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.