Global Crossing Files Amendment to Registration Statement for Tracking Stock of GlobalCenter

Hamilton, Bermuda: 21 July 2000 - Global Crossing Ltd. (Nasdaq: GBLX, BSX: GBLX.BH) announced today that it has filed an amendment to its registration statement with the Securities and Exchange Commission to cover the first public offering of shares of its GlobalCenter group stock, a class of stock that will separately track the performance of its GlobalCenter business. Global Crossing Ltd. will allocate the net proceeds of the sale of these shares of GlobalCenter group stock to the GlobalCenter group. GlobalCenter intends to use the net proceeds to finance its planned expansion of its domestic and international data centers and for general corporate purposes and working capital. GlobalCenter may also use a portion of the net proceeds to make strategic investments or acquisitions.

The shares of GlobalCenter group stock will be offered by an underwriting group led by Morgan Stanley Dean Witter, Credit Suisse First Boston and Chase H&Q and co-managed by Bear, Stearns & Co. Inc., Donaldson, Lufkin & Jenrette, Goldman, Sachs & Co. and Salomon Smith Barney.

GlobalCenter is a leading provider of Internet infrastructure solutions incorporating complex Web hosting; IP network services, primarily using the Global Crossing IP network; hardware and software procurement and installation; content distribution, integration and management services; systems applications; and professional services.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the GlobalCenter group stock in any state in which such offer,

solicitation or sale would be unlawful prior to registration or qualification under the ecurities laws of any such state.

The offering will be made only be means of a prospectus contained in such registration statement as filed with the Securities and

Exchange Commission.