Sky Signs Multi-Year Deals With Global Crossing to Transport Digital Content Via the Company's Fiber Optic Network.

Business Editors/High-Tech Writers

SAO PAULO, Brazil & MIAMI--(BUSINESS WIRE)--Oct. 24, 2001

Global Crossing Ltd.(NYSE:GX):

-- Global Crossing will transport digital content and enable voice and data
transmission among Sao Paulo, Rio de Janeiro and Miami

-- SKY will utilize one of Global Crossing's DS3 private lines (45 Mb/s) for
the transmission of up to six channels of digital content.

-- Global Crossing provides services and applications that enable the film and
broadcast industry to create, distribute, manage and store digital content.

Global Crossing Ltd. today announced it has signed a contract with SKY, which provides digital television through satellite, to transport digital content via the company's high-speed fiber optic network between Sao Paulo and Rio de Janeiro. Additionally, SKY has agreed to purchase a high-speed link on the Global Crossing network that will enable voice and corporate data transmission between SKY's office in Rio de Janeiro and a sales office in Miami.

According to the agreement, SKY will utilize one of Global Crossing's DS3 private lines (45 Mb/s) for the transmission of up to six channels of digital content. Using digital compression, the content will be transmitted to SKY's satellite and will then be re-transmitted to the subscriber's antennas. The ATM link for SKY's corporate data transmission will be managed by Global Crossing and is expected to be operational by the end of the year.

"Global Crossing's broadband services provide an important complement to our advanced satellite service offerings," said Robert Steijntjes, director of strategic planning and new business development, SKY. "We are committed to continue enhancing the experience of our subscribers by providing high-quality services."

In addition to offering immediate access to an unprecedented amount of bandwidth on a global basis, Global Crossing has built an Extranet to serve film production, broadcast and digital asset management needs, featuring services and applications that will enable the industry to create, distribute, manage and store digital content. Customers are able to "plug into" a global infrastructure with rich capacity, redundancy and one of the highest levels of security. The company completed its core global network in June, linking the top markets in Latin America and the Caribbean with more than 200 major cities in Europe, North America, and Asia.

"We are diversifying our product portfolio to offer customers in different market segments with the most advanced and reliable broadband services available anywhere in the world," stated Pablo Mlikota, vice president of corporate markets, Global Crossing, Latin America and the Caribbean. "We are pleased to provide SKY with connectivity in these three important markets for the company in Latin America."

Luis Carlos Correia, vice president and managing director of Global Crossing, Brazil added, "We are well-positioned to serve the needs of international customers because of the extensive reach of our global network and the benefits of our full suite of broadband services."

Global Crossing provides broadband services aimed at the media & entertainment industry throughout Latin America and the Caribbean. Among some of its top global media & entertainment clients are DirecTV, Fujitsu, CNBC Europe and Yahoo. The company also offers a portfolio of services for other sectors including the financial community, government, carriers and multi-national corporations.

"With Global Crossing becoming our new national and international broadband services provider, our company will be able to meet the needs for more security and reliability," said Ailton Rogato, telecommunications manager for SKY.

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 and Europe, and provides services in Asia through its subsidiary, Asia Global Crossing (NYSE:AX). Please visit http://www.globalcrossing.com or http://www.asiaglobalcrossing.com for more information.

About SKY/Net Sat

SKY is a digital pay-TV service via satellite; the most modern and complete program distribution system. The service is a result of a strategic alliance among Organizacoes Globo, News Corporation and Liberty Media Corporation . Currently, SKY is the leader in the pay TV market, with 685,000 subscribers in Brazil, according to the latest quarterly report, distributed on June 30, 2001. SKY is the only service of its kind available in all the country with digital quality of image and sound. The reception equipment - composed of a mini parabolic antenna, a decoder and a remote control (Gradiente, Philips or Century) - can be acquired in electronic and antenna stores, through 0800 707 9090 phone or through the web, at http://www.sky.tv.br.

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; possible reductions in demand for our products and services due to competition or changes in industry conditions; 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.