Global Crossing Extends Converged IP Services Reach to Mainland China With CPCNet

FOR IMMEDIATE RELEASE: MONDAY, OCTOBER 17, 2005

Florham Park, NJ -- Global Crossing (NASDAQ: GLBC) announced today that it is expanding its service reach to 12 cities in mainland China by joining forces with CPCNet Hong Kong Limited, a CITIC Pacific company (SEHK: 267). By interconnecting the two private, MPLS-based IP networks with iMPLS?, Global Crossing's advanced provider interconnect, Global Crossing can now deliver converged IP services with end-to-end Quality of Service (QoS) to its customers with locations across China.

"China is a critical growth engine for IP services and global business, and this arrangement allows us to better serve global enterprise customers as they increase their presence in this key market," said John Legere, Global Crossing's chief executive officer. "We're delighted to be partnering with CPCNet, whose high-performance, MPLS-based IP network seamlessly extends our own."

This announcement is another milestone in Global Crossing's plan to extend its worldwide service reach, especially in the fast-growing Asian region. Asia has become an essential piece in multinationals' portfolios for manufacturing, services, or in order to partake in the exceptional strength of the Asian market.

"Mainland China is one of the most vital regions in the world and our alliance with Global Crossing demonstrates our knowledge and expertise in this area," said Stephen Ho, CPCNet's chief executive officer. "We're pleased that Global Crossing has selected us to extend their service reach as they support the business goals of global enterprises."

CPCNet is the first communications service provider to launch MPLS-based IP VPN service across greater China. Branded as TrueCONNECTTM, the service allows for the implementation of QoS to better meet global enterprise customers' demand for a secure, global, fully managed converged IP solution.

"We view a significant growth opportunity in the Chinese enterprise market for IP-based services," stated Jan Dawson, research director at OVUM. "In the MPLS VPN segment alone, OVUM projects that the market size will increase from $127 million in 2004 to $1.12 billion in 2009, a CAGR of 54 percent."

Leading global manufacturer of air treatment products Fedders has been using Global Crossing's IP VPN service to connect multiple locations in China since July 2005. Global Crossing's IP VPN service allows the seven locations to communicate among themselves as well as to the rest of the globe.

In the last 12 months, Global Crossing has expanded its MPLS core network by deploying IP Service Points of Presence (PoPs) in Hong Kong, Tokyo, Sydney and Singapore, in addition to forging a partnership with Sify in India. The Asian region will continue to be a strong focus for Global Crossing, especially as increasing numbers of multinational companies adopt converged IP services for greater features and efficiencies.

"We continue to execute on our growth strategy," added Anthony Christie, Global Crossing's chief marketing officer. "Our ability to offer global enterprises unsurpassed connectivity and converged IP services in this strategic region clearly demarcates us from our competitors."

Global Crossing's iMPLS service, an advanced provider interconnect, enables seamless, reliable, scalable MPLS-based IP VPN service expansion by carriers and service providers, speeding time-to-market and minimizing capital investment. The service preserves QoS, traffic prioritization and endpoint visibility, permitting end-to-end service level agreements (SLAs) and enabling applications such as VoIP and IP Video to work reliably across the connected networks.

Global Crossing's high-performance IP VPN solution supports the convergence of voice, video and data over a single connection and around the world, backed by the company's industry-leading SLAs.

ABOUT CPCNET HONG KONG LIMITED
CPCNet Hong Kong Limited, a wholly owned subsidiary of CITIC Pacific (SEHK: 267), is a communications service and network solution provider headquartered in Hong Kong. A preferred partner by multinational corporations (MNCs) and business enterprises requiring seamless connection to greater China and Asia from different parts of the world, CPCNet is set apart for its breadth of knowledge in the China market.

CPCNet has been awarded the ISO 9001:2000 Certification issued by DNV under the United Kingdom Accreditation Service (UKAS). The certification further recognized the company's commitment to the implementation of quality management principles in its delivery of network solutions.

By owning and managing the state-of-the-art and fully meshed network, CPCNet offers TrueCONNECTTM, an advanced MPLS-based IP VPN service, and a whole range of communications products and services including GlobalCONNECT, global data services; AlwaysCONNECT, high availability mission critical connection solutions and the Secure-In-One, multiple function managed security service; along with an array of other IP-related applications and services. For more information about CPCNet, please visit www.CPCNet.com.

ABOUT GLOBAL CROSSING
Global Crossing (NASDAQ: GLBC) 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.

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Statements made in this press release that state Global Crossing's intentions, beliefs, expectations, or predictions for the future are forward-looking statements. These statements contain words such as "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," "will," "seek," or similar expressions. Such statements are subject to known and unknown risks, uncertainties and other factors that could cause the actual results to differ materially from those contemplated by the statements, including the conditioning of the company's continued listing on the NASDAQ National Market on its timely filing with the SEC of all periodic reports for all reporting periods ending on or prior to September 30, 2005; the company's history of substantial operating losses and the fact that, in the near term, funds from operations will not satisfy cash requirements; legal and contractual restrictions on the payment of dividends and the inter-company transfer of funds by the company's subsidiaries, including restrictions under the senior secured notes indenture applicable to Global Crossing (UK) Telecommunications Limited ("GCUK"); the likelihood that the prices the company charges for its services will continue to decrease; the company's ability to continue to connect its network to incumbent carriers' networks or maintain Internet peering arrangements on favorable terms; the success of the company's business realignment plan and the realization of anticipated cost savings; the consequences of any inadvertent violation of the company's Network Security Agreement with the U.S. Government; the impact of actual and potential customers' bankruptcies on the company's sales prospects and results of operations; increased competition and pricing pressures resulting from technology advances and regulatory changes; competitive disadvantages relative to competitors with superior resources; the impact on the company's competitiveness of its technology choices; the company's dependence on third parties for many functions; political, legal and other risks due to the company's substantial international operations; risks arising out of the company's material weaknesses in internal controls and possible difficulties and delays in improving such controls; the concentration of GCUK's revenue in a limited number of customers, and the rights of such customers to terminate their contracts or to simply cease purchasing services thereunder; and other risks referenced from time to time in the company's filings with the Securities and Exchange Commission. The company undertakes no duty to update information contained in this press release or in other public disclosures at any time.

CONTACT GLOBAL CROSSING:
Press Contacts
Catherine Berthier
+ 1 646 862 8514
PR@globalcrossing.com

Kendra Langlie
+ 1 305 808 5912
LatAmPR@globalcrossing.com

Mish Desmidt
Europe
+ 44 (0) 1256 732 866
EuropePR@globalcrossing.com

Analysts/Investors Contact
Laurinda Pang
+ 1 800 836 0342
glbc@globalcrossing.com

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