IMPSAT Announces Third Quarter 2006 Results

Business Wire, Nov 15, 2006

About IMPSAT Fiber Networks, Inc.

Impsat is a leading provider of private telecommunications network and Internet services in Latin America, offering integrated data, voice, data center and Internet solutions. Impsat's networks consist of owned fiber optic and wireless links, teleports, earth stations and leased satellite links. Impsat owns and operates 15 metropolitan area networks in some of the largest cities in Latin America and has 15 facilities to provide hosting services. Impsat currently provides services to more than 4,500 national and multinational clients, and has operations in Argentina, Colombia, Brazil, Venezuela, Ecuador, Chile, Peru and the United States.

Additional Information and Where to Find It

In connection with Global Crossing's proposed acquisition of Impsat pursuant to the terms of an Agreement and Plan of Merger between Global Crossing and Impsat, Impsat will file a proxy statement with the Securities and Exchange Commission (the "SEC"). Investors are urged to read the proxy statement (including all amendments and supplements thereto) because it will contain important information. The Agreement and Plan of Merger is filed an exhibit to Impsat's Current Report on Form 8-K filed with the SEC on October 30, 2006. The Consent Solicitation Statement relating to Impsat's consent solicitation is filed as an exhibit to Impsat's Current Report on Form 8-K filed with the SEC on November 2, 2006. Investors may obtain free copies of the proxy statement when it becomes available, as well as other filings made from time to time and containing information about Impsat, without charge, from the SEC's website (www.sec.gov). These documents may also be obtained for free from Impsat's Investor Relations website (www.impsat.com) or by directing a request to Impsat at: IMPSAT Fiber Networks, Inc., Elvira Rawson de Dellepiane 150, Piso 8, C1107BCA, Buenos Aires, Argentina, Attention: Guillermo Pardo.

Impsat and its respective directors and executive officers and other members of management and employees are potential participants in the solicitation of proxies from Impsat's stockholders in respect of the proposed transaction.

Information regarding Impsat's directors and executive officers is available in Impsat's proxy statement for its 2006 annual meeting of stockholders, filed with the SEC on March 31, 2006. Additional information regarding the interests of such potential participants in the proposed transaction will be included in the proxy statement to be filed with the SEC in connection with the proposed merger.

Forward Looking Statements

Some of the statements in this report constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. These statements relate to our operations that are based on our current expectations, estimates and projections. Words such as "may," "will," "could," "would," "should," "anticipate," "predict," "potential," "continue," "expects," "intends," "plans," "projects," "believes," "estimates," "in our view" and similar expressions are used to identify these forward-looking statements. These statements are only predictions and as such are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Forward-looking statements are based upon assumptions as to future events or our future financial performance that may not prove to be accurate. Actual outcomes and results may differ materially from what is expressed or forecast in these forward-looking statements. As a result, these statements speak only as of the date they were made, and we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.