Global Crossing Ltd. was incorporated in Bermuda as an exempted limited liability company on 30 April, 1998. The Company is the world's first independent provider of global Internet and long distance telecommunications facilities and services utilizing a network of undersea digital fiber optic cable systems and associated terrestrial backhaul capacity. Global Crossing is the first company to offer "one-stop shopping" for its customers to multiple destinations worldwide. The principal objective of the Company is to create the world's first independent global fiber optic network designed to offer the highest quality city-to-city communications connectivity among the largest metropolitan markets worldwide.
The Global Crossing Network is being engineered and constructed using the latest undersea cable technology which will make it more reliable than competing systems and allow the Company to offer more capacity than existing cable systems. Compared with traditional undersea cable systems, Global Crossing offers more comprehensive, flexible and low-cost purchasing alternatives designed to meet current market requirements of international carriers, including direct city-to-city connectivity.
Global Crossing Ltd. has obtained a primary listing on the Nasdaq Stock Exchange and a secondary listing on The BSX.
The listing of Global Crossing is sponsored by Reid Services Limited, Hamilton Bermuda. The securities are being listed under the Listing Regulations for International Equities.
K. Eugene Shutler, senior vice president of Global Crossing Ltd. of Bermuda commented, "We appreciate the opportunity that having a secondary listing on The Bermuda Stock Exchange offers us. We believe that a listing on the BSX, as a complement to our NASDAQ listing, will offer Global Crossing an even broader base of investors interested in international telecommunications stocks. Our Company is focused on creating value for all our shareholders as we head toward completion of the world's first independent global fiber optic network."
"We are delighted that Global Crossing Ltd. sought a secondary listing of its common shares on The BSX following its successful Initial Public Offering in the United States. The Exchange continues to work to attract more Bermuda based international companies to list their securities on The BSX," said Mr. James McKirdy, Listing Manager of the BSX.
For further information on Global Crossing Ltd., please contact K. Eugene Shutler in Bermuda by telephone: 441-296-8600 or facsimile: 441-296-8606, or visit their website at http//www.globalcrossing.com. For additional information on The BSX please contact Stephen Davidson, Tel: 441-292-7212 or e-mail sdavidson@bsx.com.