Global Crossing to Extend Core Network to Costa Rica

San José, Costa Rica - May 4, 2006 -- At a signing ceremony today hosted by Costa Rica's Instituto Costarricense de Electricidad (ICE), the state-run entity responsible for the nation's telecommunications, and the national Internet Service Provider Radiográfica Costarricense S.A. (RACSA), Global Crossing announced plans to extend its core network to Costa Rica. Through the extension of Global Crossing's Pan American Crossing (PAC) system, which runs along the west coast of Central America from Panama to Los Angeles, at the Unquí cable landing point in Esterillos, Costa Rica will gain direct access to the world's premier global IP network, which delivers services in more than 600 cities in 60 countries. The project requires additional governmental approval, and construction is expected to be complete as early as fourth quarter 2007.

As part of the cable landing agreement, Global Crossing also announced that it will donate an STM1 to the Costa Rican academic sector, the largest donation of its kind in the history of the country. Following a signing ceremony for the landing agreement, ICE and its Internet arm, RACSA, immediately announced that they will purchase 24 STM-1 Private Lines, the equivalent of 3.732 Gbps of bandwidth, from Global Crossing. One STM-1 is equivalent to 155.52 Mbps of bandwidth.

"Latin America continues to be an integral part of our global strategy, and we're building on our successes in this region by extending our core network to Costa Rica," commented John Legere, CEO of Global Crossing. "This agreement provides ICE/RACSA with a robust solution for worldwide connectivity from the Pacific coast, and enables the delivery of seamless, premier IP solutions to Costa Rican based businesses and end users taking advantage of all the benefits of world-class Global Crossing network."

Industry analyst firm Yankee Group's 2005 Latin American Carrier Scorecard noted that roughly 30 percent of enterprise survey respondents in the U.S. and Canada plan to increase network capacity to Central or South America and that carriers striving for global positioning must strategically address this region. In the same report, the Yankee Group gave Global Crossing excellent scores for customer focus as well as a positive grade for its services portfolio in the region.

"Through its localized presence and global reach capabilities, Global Crossing is uniquely positioned to serve both 'multi-latinas' and multinationals requiring converged IP services on a pan-regional scale," commented Erica Fox, Yankee Group's director of global telecom and wireless services. "Thirty-two percent of Latin American MNCs are planning to implement or increase their network capabilities in the next 12 months, and the vast majority of them will look for IP solutions."

The analyst firm's assessment aligns with the explosive demand growth for converged IP services that Global Crossing is seeing around the globe as well as in Latin America. In 2005, the number of Global Crossing's converged IP customers tripled, while IP VPN traffic grew more than 300 percent. The number of Global Crossing's IP customers in Latin America grew by 80 percent in 2005.

Global Crossing has significant presence in Latin America and the Caribbean with offices and operational facilities in 12 of the region's major cities. Through its sub-sea and terrestrial cable systems, Global Crossing seamlessly connects South America, Mexico, Central America and the Caribbean to the rest of its global network, delivering services to customers around the world. Costa Rica will be connected to the PAC system, which currently lands in Balboa, Panama, and Mazatlan and Tijuana, Mexico. With its regional network officially completed in 2001, Global Crossing now serves virtually all of Latin America's major carriers as well as many prestigious Latin American companies, research and educational networks, and global companies operating in the region. Such customers include Latin America's largest construction and engineering firm Odebrecht, Mexicana Airlines and Banco Santander International.

Also in direct response to rapid growth of customer demand, Global Crossing recently announced it will be making upgrades to its Mid-Atlantic Crossing (MAC) system, which connects North America to Latin America through the Caribbean.

"We are committed to providing quality telecommunications and IP services that will give Costa Rica's residents and business community the competitive edge we need in the world economy. As our strategic partner, Global Crossing will provide that edge via its state-of-the-art global network and advanced product portfolio," commented Pablo Cob, president of ICE. "We expect the direct national connection of Global Crossing's global network to enhance Costa Rica's position as a premier location for manufacturing facilities and contact centers of multinational corporations."

Today's announcement was celebrated not only by the ceremony's hosts, ICE and RACSA, but also by the business community, including several global corporations which have manufacturing plants, contact centers and other operations in the country and are demanding first rate, IP broadband connections. The improved Internet structure is expected to bring increased direct investment to Costa Rica within a year of implementation.

"This agreement is the culmination of an ongoing, cooperative effort between ICE, RACSA and Global Crossing, and is a tremendous accomplishment for all involved," concluded José Antonio Ríos, Global Crossing's CAO and international president, who attended the signing ceremony. "We look forward to playing a key role in advancing Costa Rica's economic goal of becoming an ideal business partner."

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 major cities and 30 countries worldwide, and delivers services to more than 600 cities, 60 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 36 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 in this press release about expected future events and financial results are forward-looking and subject to risks and uncertainties that could cause the actual results to differ materially, including 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.