Global Crossing Brings Converged IP Solutions to Financial Services Customers

Florham Park, NJ -- July 1, 2004 -- Global Crossing (NASDAQ: GLBCE) announced today its IP Convergence Solutions Suite for the financial services industry, designed to address increasingly stringent requirements for data security and privacy, optimizing business processes and business continuity planning.

Global Crossing's IP Convergence Solutions Suite allows financial services firms to achieve the flexibility and redundancy required to support mission-critical applications and transport IP data seamlessly throughout key financial centers worldwide. The solution also addresses key industry concerns over network reliability and overall IP data security, as firms put stronger focus on meeting increasingly stringent regulatory and compliance standards.

"Financial companies find that our solutions serve as a strategic tool for their business," said Global Crossing's chief marketing officer Anthony Christie. "Our offer answers the needs of the industry with a comprehensive approach to security -- including physical, network, personnel, and more -- that is based upon rigid requirements established by the UK and US governments, and leading application security for viruses and denial of service (DoS) attacks, delivered over a fully interoperable global IP-based network platform."

Banks and insurance firms looking to deliver more value-added services to their customers through online portals will find that Global Crossing's IP solutions enable a greater degree of front-office to back-office integration. By integrating legacy systems with native IP systems, such firms will find it possible to create global partnerships, optimize multiple business processes and offer their customers an integrated view of investments and portfolio management.

Global Crossing's MPLS-based IP VPN provides three classes of service (CoS) with differentiated quality of service (QoS), enabling financial firms to simultaneously run multiple applications, including IP turrets, instantaneous trading and multicast services with guaranteed performance. The VPN is also a clear choice for firms that need to implement or update their business continuity planning, solutions that could potentially save millions of dollars should an outage to key systems occur.

For financial services enterprises with a globally dispersed workforce, or a high number of remote workers, Global Crossing's IP videoconferencing allows firms to establish on-demand videoconference meetings any time. Video traffic is dynamically transported at high speed over a private IP network worldwide, helping firms save on travel costs.

With Global VoIP Enterprise Service, firms can save on their telephony costs, thereby lowering their network's total cost of ownership. Global Crossing is an industry innovator in VoIP solutions and currently carries more than two billion minutes a month of VoIP traffic over its global IP network.

"The financial community relies on global relationships and innovative service capabilities," Mr. Christie added. "Our history of providing high quality service to the industry and this new set of IP solutions will allow firms to foster many more relationships worldwide and discover an even greater number of efficient IP-based solutions that can help stabilize their customer base and offer a greater number of services."

In addition to the Converged IP Solutions announced today, Global Crossing has been serving the financial services industry with a set of customized applications for the investment trading community for more than eight years. Global Crossing's Hoot and Holler network carries real-time news and market commentary to trading floors and offices worldwide. The company's Trader Voice capability provides instant voice messaging for the trading community, while its Financial Extranet allows customers to connect, communicate and transact by linking global data providers and trading partners. Global Crossing supports some of industry's top firms with these services.

About Global Crossing

Global Crossing (NASDAQ: GLBCE) provides telecommunications solutions over the world's first integrated global IP-based network. Its core network connects more than 300 cities and 30 countries worldwide, and delivers services to more than 500 major cities, 50 countries and 6 continents around the globe. The company's global sales and support model matches the network footprint and, like the network, delivers a consistent customer experience worldwide.

Global Crossing IP services are global in scale, linking the world's enterprises, governments and carriers with customers, employees and partners worldwide in a secure environment that is ideally suited for IP-based business applications, allowing e-commerce to thrive. The company offers a full range of managed data and voice products including Global Crossing IP VPN Service, Global Crossing Managed Services and Global Crossing VoIP services, to more than 40 percent of the Fortune 500, as well as 700 carriers, mobile operators and ISPs.

Please visit www.globalcrossing.com for more information about Global Crossing.