Global Crossing Receives Frost & Sullivan's 2005 Growth Strategy Leadership Award

• Award strongly endorses Global Crossing's business strategy.
• Company's successful execution demonstrated by solid financial performance.
• Frost & Sullivan recognizes company's innovation in global, converged IP services.

Florham Park, NJ - August 30, 2005 -- Frost & Sullivan, a global growth consulting company that serves emerging and global 1,000 companies along with the investment community, announced that it has recognized Global Crossing (NASDAQ: GLBC) with its prestigious 2005 Growth Strategy Leadership Award. This industry distinction was awarded to Global Crossing for its focused business strategy and precision execution.

"Global Crossing's success in the execution of its strategy demonstrates the importance of a finely-tuned, focused plan for carving out a strong competitive position in the industry," said Lucy Liu, Frost & Sullivan analyst. "Global Crossing's innovation in converged IP services, expansion into the global enterprise market and improving financials are all proof that the company is building momentum and creating a solid foundation for future success."

Global Crossing's strategy is focused on delivering converged IP services to global enterprises, which the company is ideally positioned to serve through both direct and indirect channels. The underlying foundation of this strategy is the company's focus on improving margins and realizing growth opportunities. Three principal areas of business activity delineated as part of this concentration are categorized as follows:

• "Invest and grow" - Core lines of business, including enterprise, collaboration, indirect channels and carrier data.
• "Manage for margin" - Areas of business, such as wholesale voice, which the company selectively manages for margin and cash flow.
• "Harvest or exit" -- Those areas of the business that Global Crossing will exit or de-emphasize, including its Small Business Group and Trader Voice units, both of which were sold in the first half of the year.

"This award, backed by solid financial results achieved over the last three quarters, validates our current strategy and shows we are determined to succeed in a rapidly changing marketplace," said John Legere, Global Crossing's chief executive officer. "We appreciate Frost & Sullivan's recognition of our strategic leadership in the telecommunications industry."

Since the announcement in October 2004 of its tightened focus on the three areas of business described above, Global Crossing has shown consistent execution of its strategy. Its success is confirmed by the company's ten-point improvement in gross margin -- from 28 percent in the second quarter of 2004 to 38 percent in the second quarter of 2005 - as well as sustained growth in its "invest and grow" revenue.

In selecting Global Crossing for the Growth Strategy Leadership Award, Frost & Sullivan highlighted the company's innovation in converged IP services, which dates back to the world's first deployment of a global IP MPLS-based network in 2001. Today, Global Crossing operates the world's largest wholly owned, fully meshed global IP MPLS network, with Quality of Service (QoS) on an end-to-end basis, backed by industry leading Service Level Agreements (SLAs). The company has been in the forefront of Voice over Internet Protocol (VoIP) innovation, and today transports more than two billion minutes of traffic per month across its global VoIP network. Global Crossing's iMPLS Service and Intelligent Front Office initiative offer unparalleled levels of flexibility, facilitating the seamless integration of partner networks and OSS platforms to ensure the delivery of global IP services to multinational customers. Global Crossing's suite of collaboration services represents another area of industry leading innovation; its flagship iVideoconferencing Service earned Frost & Sullivan's 2005 award for Product Differentiation Innovation and the 2004 award for Best New Videoconferencing Service.

"Converged IP services are at the core of Global Crossing's product strategy and vision," continued Lucy Liu. "What truly distinguishes Global Crossing's approach is the flexible and responsive manner in which it customizes solutions to meet individual customer needs, transitioning them onto IP-based platforms at a pace that supports their specific business objectives."

ABOUT FROST & SULLIVAN
Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community, by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics.

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 the company'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

Tisha Kresler
+ 1 973 937 0146
PR@globalcrossing.com

Kendra Langlie
Latin America
+ 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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