"We have not yet seen a copy of the lawsuit. However, we believe that the announcement issued late this afternoon is part of an ongoing effort by Global Crossing to avoid payment of outstanding balances due as a result of work performed by TSSL.
"We have tried to resolve this matter amicably. We were proceeding on that basis when Global Crossing issued its press release, which we believe was issued for tactical reasons, rather than for substantive or worthwhile legal concerns.
"Our shareholders can be certain we will defend ourselves vigorously."
Tyco International Ltd., a diversified manufacturing and service company, is the world's largest manufacturer and servicer of electrical and electronic components and undersea telecommunications systems. It is the world's largest manufacturer, installer, and provider of fire protection systems and electronic security services and the largest manufacturer of flow control valves. Tyco has strong leadership positions in disposable medical products, plastics, and adhesives. The Company operates in more than 80 countries around the world and had fiscal 1999 revenues in excess of $22 billion.