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Global Crossing Declares Dividend On Preferred Stock

Hamilton, Bermuda: 15 November 2000 - Global Crossing Holdings Ltd. today announced that its Board of Directors has declared a dividend, payable in cash, on its Senior Exchangeable Preferred Stock due 2008. A distribution of $5.25 per share of Senior Exchangeable Preferred Stock is payable on December 1, 2000 to holders of record on November 15, 2000.

Prior to June 1, 2002, Global Crossing Holdings has the option to pay dividends in cash or additional shares of Senior Exchangeable Preferred Stock. Since the issuance of the Preferred Stock on December 2, 1998, Global Crossing Holdings has chosen to pay cash dividends on each dividend payment date.

Global Crossing Holdings Ltd. is a subsidiary of Global Crossing Ltd. (NYSE: GX).