Global Crossing Recruits Senior Management

Gary A. Cohen, General Manager of IBM's Global Telecommunications Industry group, will become Chief Operating Officer of Global Crossing. Joseph P. Perrone, a senior partner in Arthur Andersen's Communications, Media & Entertainment Practice, will be Senior Vice President, Finance for Global Crossing, reporting to Dan J. Cohrs,

Chief Financial Officer.

"Gary and Joe will help us sustain our rapid growth and earn the enthusiastic support of the financial community," said Leo J. Hindery, Jr., Chief Executive Officer of Global Crossing. "Gary Cohen is one of the most respected executives in the world of Internet Protocol. Gary, who has been responsible for all of IBM's broadband and advanced telecommunications activities, is without peer in the world of advanced telecom. It will fall to Gary to help me integrate and manage

our assets as we rapidly complete the buildout of the Global Crossing Network. I can think of no better executive for the job."

Added Hindery: "Joe Perrone has been in charge of our relationship with Arthur Andersen since before our IPO. He has a financial understanding of our company and our industry which is second to none.

Joe is a recognized leader in communications financial reporting and accounting. He will help us quickly install the financial reporting

and administrative controls necessary for the most exciting company in telecommunications to be the best run company in its industry."

Cohen, a 22-year veteran of IBM, will be responsible for regional and network operations, marine, construction, technology and provisioning. Cohen led IBM's business in the telecommunications industries and was responsible for strategy, marketing, and the development of technology solutions for telecommunications and

broadband business customers. Cohen also served as vice president of IBM's Communications Sector, Asia Pacific and was vice president of

marketing for IBM's Internet Division where he established IBM's successful e-business market strategy. He has a Bachelor of Science

degree in economics and psychology from Union College and a Master of Business Administration degree from New York University.

Perrone has significant experience in the communications, media, and entertainment industry and has previously served as director of

that practice for Arthur Andersen's Metro New York operations. He has significant project experience at major communication companies and

directed Arthur Andersen's work for the IPO of Global Crossing.

Perrone has a Bachelor of Science degree in Accounting from Seton Hall University and has been a partner at Arthur Andersen since 1981.

The company also announced that David Lee, one of Global Crossing's founding partners, will be leaving the company after a transition period of several months.

Said Hindery: "David Lee passes on to Gary Cohen a terrific legacy by any measure: in route miles, in cities served, and in products introduced. David and the founding partners who nursed Global Crossing through its infancy have taken a brilliant idea and transformed it into an asset worth many billions of dollars."