world's most extensive global IP-based fiber optic network, today announced major fiber and capacity sale agreements that extend Telecom
Italia's national network further into Europe and South America.
Global Crossing will provide Telecom Italia with 10,000 kilometers of dark fiber on its Pan European Crossing system and 18,000 kilometers of dim fiber on its South American Crossing system. The Pan European fiber covered by the agreements will be operated and managed by Telecom Italia, providing Milan and Turin with direct connectivity
to other major cities in Europe, including Amsterdam, Barcelona, Brussels, Frankfurt, London, Paris, and Zurich. The South American
fiber will be operated by Telecom Italia's Latin America Nautilus joint venture, providing Telecom Italia with direct connectivity to
major South American cities, including Santiago, Buenos Aires, Rio de Janeiro and Caracas.
Global Crossing has also committed to purchase dim fiber on Telecom Italia's Nautilus Mediterranean system, connecting Israel,
Turkey, Greece and Egypt to the Global Crossing Network. In addition, Global Crossing's marine systems division will lease a cable-laying
vessel from Telcom Italia's marine subsidiary.
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; 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.