Global Crossing Statement on DoD Contract.Business/High Tech Editors Hamilton Hamilton, city, Bermuda Hamilton, city (1990 est. pop. 3,100), capital of Bermuda, on Bermuda Island. It is a port at the head of Great Sound, a huge lagoon and deepwater harbor protected by coral reefs. , Bermuda--(BUSINESS WIRE) August 17, 2001 - Global Crossing (NYSE NYSE See: New York Stock Exchange : GX), which provides telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. solutions over the world's first integrated global IP-based fiber optic network, today issued the following statement from Chief Executive Officer Tom Casey: "Although no official action has been taken by the U.S. Department of Defense (DoD), we have been notified that the contract awarded in July by the DoD to Global Crossing Government Markets to provide advanced wide area network services for the Defense Research and Engineering Network The Defense Research and Engineering Network (DREN) provides long-haul communication service for the United States Department of Defense’s high performance computing (HPC) environment. (DREN) may have to be re-bid to address procedural issues in the procurement The fancy word for "purchasing." The procurement department within an organization manages all the major purchases. process that were identified by the DoD after the contract was challenged by unsuccessful bidders. These procedural issues have nothing to do with Global Crossing's bid, which was determined by the DoD to be superior to all other bidders on both technical and value criteria. Global Crossing is confident that we will retain the contract award at the conclusion of any new DoD procedures because the unsuccessful bidders are unable to provide DREN with the cost-effective cost-effective, n the minimal expenditure of dollars, time, and other elements necessary to achieve the health care result deemed necessary and appropriate. capabilities provided by Global Crossing. As previously disclosed, the DREN contract is valued at $137 million over three years. While Global Crossing is confident it will win any potential re-bid, the loss of this contract would not have a material effect on the company's financial results." ABOUT GLOBAL CROSSING Global Crossing Ltd. (NYSE: GX) provides telecommunications solutions over the world's first integrated global IP-based network, which reaches 27 countries and more than 200 major cities around the globe. Global Crossing serves many of the world's largest corporations, providing a full range of managed data and voice products and services. Global Crossing operates throughout the Americas, Europe, and provides services in Asia through its subsidiary, Asia Global Crossing (NYSE: AX). Global Crossing Solutions provides integrated telecommunications solutions, including network outsourcing (1) Contracting with outside consultants, software houses or service bureaus to perform systems analysis, programming and datacenter operations. Contrast with insourcing. See netsourcing, ASP, SSP and facilities management. , to large global enterprises. Please visit www.globalcrossing.com or www.asiaglobalcrossing.com for more information. 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 forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . 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 United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. 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. |
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