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GlobeNet Withdraws Listing From BSX

28 June 2000

Hamilton, Bermuda: 28 June, 2000 - The Bermuda Stock Exchange (BSX) today announced the de-listing of GlobeNet Communications Group Limited's (GLOCOM.BH) common shares. The de-listing was granted as a result of 360networks inc. completing its acquisition of GlobeNet Communications Group Limited and becoming the sole shareholder of the company as announced on 22 June.

For further inquiries on GlobeNet Communications Group Limited or 360networks inc. please contact Ms. Lin Gentemann, telephone 441-296-4101 of fax 441-296-3970.