Global TeleSystems, Inc. Amends Consent Solicitation To Increase Consent Payment.

Business Editors/Hi-Tech Writers

LONDON--(BUSINESS WIRE)--Nov. 22, 2000

Global TeleSystems, Inc. (NYSE:GTS; Easdaq:GTSG; Frankfurt:GTS) ("GTS") today announced that it is amending its consent solicitation relating to its 9-7/8% Senior Notes due 2005 (the "Notes") to increase the amount of the payment that GTS will make to each holder of Notes whose consent is received and accepted prior to the expiration date to $100 in cash for each $1,000 principal amount of Notes for which a consent has been accepted, as described in the Consent Solicitation Statement dated November 13, 2000 (the "Consent Solicitation Statement"). The record date for the consent solicitation is November 17, 2000. The consent solicitation expires at 5:00 p.m. New York City time on November 29, 2000, unless extended by GTS prior to such time. GTS commenced soliciting consents from holders of its Notes to amendments of certain provisions of the indenture governing the Notes on November 13, 2000.

This announcement shall serve to amend and supplement the Consent Solicitation Statement of GTS and the related Consent form and other documentation solely with respect to the increase of the Consent Payment referred to herein. All other terms and conditions of the Consent Solicitation Statement, the Consent form and other documentation shall remain in full force and effect. Capitalized terms used herein which are not otherwise defined shall have the meanings given to them in the Consent Solicitation Statement. Holders of Notes can obtain copies of such statement and related material from the information agent for the consent solicitation, Georgeson Shareholder Communications Inc., at 1-800-223-2064 (toll free) or 212-440-9800 (collect). Credit Suisse First Boston ("CSFB") is acting as the Solicitation Agent for the transaction. Questions regarding the solicitation can be addressed to CSFB at 1-800-237-5022 ext. 7625 (toll free) or [phone] (collect) or to CSFB's Liability Management Group, 1-800-820-1653 (toll free) or [phone] (collect).

About GTS (www.gts.com)

GTS is the leading provider of e*Business and borderless broadband services across Europe, serving businesses and carriers with a range of broadband, hosting, Internet/IP and voice services. As an industry leader in Europe, the company has the largest cross-border fiber optic network; the largest Tier-1 IP backbone (GTS Ebone); the most widely deployed pan-European e*Business sales and service staff; and the largest pan-European customer base. GTS's first and most extensive trans-European broadband fiber network includes on-net points of presence in 38 European cities (50 cities planned) and stretches across 17,500 route kilometers (25,000 route kilometers planned) with seven city enterprise networks (CENS) (14 CENS planned), providing intra-city bandwidth. The company has its European operating headquarters in London; other corporate offices in Washington, D.C., Brussels and Cork, Ireland; and sales and service operations in 20 countries.

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties. Although GTS believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by GTS or any other person that the objectives and plans of GTS will be achieved.