Global Crossing to Provide Managed Hoot `n Holler Network for J.P. Morgan Chase; Global Crossing Provides Global Connectivity for J.P. Morgan Chase Trading Floors

Business Wire, Dec 4, 2001

Business Editors & Technology Writers

NEW YORK--(BUSINESS WIRE)--Dec. 4, 2001

Global Crossing manages the J.P.

Morgan Chase Global Transport Network

Global Crossing Ltd., (NYSE:GX) today announced a global broadcast network agreement with J.P. Morgan Chase & Co. (NYSE:JPM).

By deploying its Global Hoot `n Holler network service, Global Crossing will connect J.P. Morgan Chase's worldwide trading floors and bridge all of the company's Hoot `n Holler broadcast networks over a private line network.

The new network will support J.P. Morgan's current network configuration, providing increased bandwidth, shorter provisioning intervals, fully integrated external network bridging, reduced noise and echoes and 24/7 global network management. Global Crossing will be responsible for the implementation and ongoing management of this network, spanning all J.P. Morgan Chase global sites and subsidiaries that conduct business throughout Asia Pacific, Europe, North and South America. Global Crossing will also manage portions of J.P. Morgan Chase's Automatic Ring-Down (ARD) and Manual Ring Down (MRD) point-to-point circuits.

"Global Crossing was selected to manage our trading infrastructure based on its combination of global reach, financial expertise, ability to implement hoot and holler networks, and quick response to the global network requirements created by our merger," said Mark Rizzotti, Global Product Manager for Trader Voice of J.P. Morgan Chase & Co. "We recognize Global Crossing's skill at handling network integration, including the bridging of equipment needed for hoot and holler systems."

"Global Crossing is committed to deploying a state-of-the-art, desktop-to-desktop trading solution that meets J.P. Morgan Chase's global communications needs," said John Legere, chief executive officer of Global Crossing. "The design and security of the Global Crossing network will also yield significant cost savings for J.P. Morgan Chase and its affiliates."

Global Crossing's Global Hoot `n Holler network will be customized and pre-tested for deployment on a phased basis for J.P. Morgan Chase to ensure proper integration of the network bandwidth, bridging equipment and customer premise equipment.

About J.P. Morgan Chase & Co.

J.P. Morgan Chase & Co. is a leading global financial services firm with operations in more than 50 countries. The firm is a leader in investment banking, asset management, private equity, custody and transaction services, retail and middle market financial services, and e-finance. Headquartered in New York, J.P. Morgan Chase serves more than 30 million consumer customers and the world's most prominent corporate, institutional and government clients.

About Global Crossing

Global Crossing Ltd. (NYSE:GX) provides telecommunications solutions over the world's first integrated global IP-based network, which reaches 27 countries and more than 200 major cities around the globe. Global Crossing serves many of the world's largest corporations, providing a full range of managed data and voice products and services. Global Crossing operates throughout the Americas and Europe, and provides services in Asia through its subsidiary, Asia Global Crossing (NYSE:AX). Please visit www.globalcrossing.com or www.asiaglobalcrossing.com for more information.

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.