FLORHAM PARK, New Jersey, September 23 /PRNewswire/ --

Global Crossing (Nasdaq: GLBC) today announced the appointment of former Lucent Technologies CFO and current senior Alcatel-Lucent executive John Kritzmacher to the role of executive vice president and chief financial officer.

"We are pleased to welcome John to Global Crossing," said John Legere, Global Crossing's chief executive officer. "John's unique combination of financial and telecommunications expertise, global perspective and experience in dynamic organizations brings real value for our customers, shareholders and employees."

As chief financial officer at Lucent Technologies, John managed all traditional financial functions, including strategic financial planning, M&A, financial performance management, treasury, tax, internal audit and investor relations. Before becoming CFO, John rose through a variety of positions with increasing responsibility during his 10 years at the company, including senior vice president and corporate controller, and vice president of planning and business analysis.

After playing a senior role in the planning and execution of Lucent's merger with Alcatel, Kritzmacher became chief operating officer of the Services Business Group at Alcatel-Lucent, a business with approximately US$5 billion in annual revenues. While there, he transformed a diverse suite of existing Alcatel and Lucent service functions into a unified global services organization.

Earlier in his career, John advanced rapidly through a series of roles at Lucent's predecessor, AT&T Network Systems.

John earned a BA degree in mathematics and economics at Dartmouth College, and went on to earn an MBA in accounting at New York University Stern School of Business.

Kritzmacher succeeds Jean Mandeville, who served as chief financial officer of Global Crossing since 2004. Jean announced his intention to leave Global Crossing in May 2008; since then, he has remained with the company to complete a smooth transition. Kritzmacher begins his new role on October 1, 2008, immediately following the September 30, 2008 effective date of Mandeville's resignation.

ABOUT GLOBAL CROSSING

Global Crossing (Nasdaq: GLBC) provides telecommunications solutions over the world's first integrated global IP-based network. Its core network connects approximately 400 cities in more than 45 countries worldwide, and delivers services to approximately 690 cities in more than 60 countries and six 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 data, voice and security products to approximately 40 percent of the Fortune 500, as well as 700 carriers, mobile operators and ISPs. Its Professional Services and Managed Solutions provide VoIP, security and network consulting and management services to support its Global Crossing IP VPN service and Global Crossing VoIP services. Global Crossing was the first global communications provider with IPv6 natively deployed in both its private and public backbone networks.

Website Access to Company Information

Global Crossing maintains a corporate website at www.globalcrossing.com, and you can find additional information about the company through the Investors pages on that website at http://investors.globalcrossing.com. Global Crossing utilizes its website as a channel of distribution of important information about the company. Global Crossing routinely posts financial and other important information regarding the company and its business, financial condition, and operations on the Investors webpages.

Visitors to the Investors webpages can view and print copies of Global Crossing's SEC filings, including periodic and current reports on Forms 10-K, 10-Q and 8-K, as soon as reasonably practicable after those filings are made with the SEC. Copies of the charters for each of the standing committees of Global Crossing's Board of Directors, its Corporate Governance Guidelines, Ethics Policy, press releases and analysts presentations are all available through the Investors webpages.

Please note that the information contained on any of Global Crossing's websites is not incorporated by reference in, or considered to be a part of, any document unless expressly incorporated by reference therein.

This press release contains statements about expected future events and financial results that are forward-looking and subject to risks and uncertainties that could cause the actual results to differ materially, including: Failure to achieve expected synergies or operating results resulting from the acquisition of Fibernet or Impsat; Global Crossing'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 inter-company transfer of funds by the company's subsidiaries; the company's ability to continue to connect its network to incumbent carriers' networks or maintain Internet peering arrangements on favorable terms; the consequences of any inadvertent violation of the company's Network Security Agreement with the U.S. Government; increased competition and pricing pressures resulting from technology advances and regulatory changes; competitive disadvantages relative to competitors with superior resources; political, legal and other risks due to the company's substantial international operations; potential weaknesses in internal controls of acquired businesses, and difficulties in integrating internal controls of those businesses with the company's own internal controls; the concentration of revenue in a limited number of customers, and the rights of such customers to terminate their contracts or to simply cease purchasing services thereunder; exposure to contingent liabilities; and other risks referenced from time to time in the company's and Impsat's filings with the Securities and Exchange Commission. Global Crossing undertakes no duty to update information contained in this press release or in other public disclosures at any time.

CONTACT GLOBAL CROSSING:

Press Contact Michael Schneider +1-973-937-0146 michael.schneider@globalcrossing.com Analysts/Investors Contact Suzanne Lipton +1-800-836-0342 glbc@globalcrossing.com

IR/PR1

Web site: http://www.globalcrossing.com

Media, Michael Schneider, +1-973-937-0146, michael.schneider@globalcrossing.com; or Investors, Suzanne Lipton, +1-800-836-0342, glbc@globalcrossing.com, both of Global Crossing