The dividend on the 6-3/8% Cumulative Convertible Preferred Stock ($100 liquidation preference) is in the amount of $1.59375 per share.
The dividend on the 6-3/8% Cumulative Convertible Preferred Stock, Series B ($1,000 liquidation preference) is in the amount of $15.9375 per share.
The dividend on the 7% Cumulative Convertible Preferred Stock ($250 liquidation preference) is in the amount of $4.375 per share.
In the case of the 6-3/8% Cumulative Convertible Preferred Stock, the 6-3/8% Cumulative Convertible Preferred Stock, Series B, and the 7% Cumulative Convertible Preferred Stock, the dividend is for the period from May 1, 2000 through July 31, 2000 and is payable on August 1, 2000 to holders of record as of the close of business on July 14, 2000.
In the case of the 6-3/4% Cumulative Convertible Preferred Stock ($250 liquidation preference), the dividend in the amount of $4.26563 per share is for the period from April 14, 2000, the date of original issuance, through July 15, 2000 and is payable on July 17, 2000 to holders of record as of the close of business on June 30, 2000.
About Global Crossing
Global Crossing Ltd. (Nasdaq: GBLX) is building and offering services over the world's most extensive global IP-based fiber optic network, which will have more than 101,000 route miles, serving five continents, 27 countries and more than 200 major cities. Global Crossing's subsidiary, GlobalCenter Inc., is a leading Internet service business, and its customers own many of the largest and most densely trafficked sites on the Web. Asia Global Crossing, a joint venture among Global Crossing, Microsoft Corporation (Nasdaq: MSFT) and Softbank Corp. (Tokyo Stock Exchange: 9984), is building the first pan-Asian broadband IP network to provide broadband and
Internet services to the Asia-Pacific region. Global Crossing's operations are headquartered in Hamilton, Bermuda, with principal offices in Los Angeles, California; London, England; Morristown, New Jersey; Rochester, New York; and Miami, Florida. Visit Global Crossing at www.globalcrossing.com on the Web.
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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.
Investor contacts:
Ken Simril
+1 310 385 5254
investors@globalcrossing.com
Press contacts:
Tom Goff
+ 1 310 385 5231
tgoff@globalcrossing.com
Kim Polan
+ 1 212 687 8080
kpolan@sardverb.com