LONDON, June 2 /PRNewswire/ --

Global Crossing (UK) Finance Plc ("GCUK Finance"), a wholly owned
subsidiary of Global Crossing (Nasdaq: GLBC), today announced that it has
completed the annual excess cash offer for its 11.75 percent
Sterling-denominated and 10.75 percent Dollar-denominated senior secured
notes due in 2014.

In accordance with the indenture governing its notes, GCUK Finance
offered to purchase for cash up to 7.766 million British pounds sterling in
aggregate principal amount, including accrued and unpaid interest (the
"Excess Cash"), of its 10.75-percent U.S. dollar-denominated senior secured
notes due in 2014 and its 11.75-percent British pounds sterling-denominated
senior secured notes due in 2014. The notes are guaranteed by Global Crossing
(UK) Telecommunications Limited ("GCUK"), GCUK Finance's immediate parent and
the principal UK operating subsidiary of Global Crossing.

GCUK Finance reported that holders tendered notes with aggregate
principal amount, including accrued and unpaid interest, in excess of 7.766
million British pounds sterling. GCUK accepted the offer at 5:00 p.m. BST on
May 26, 2009.

Notes that were properly tendered and accepted for purchase in accordance
with the terms and conditions of the offer document were accepted for
purchase on a pro rata basis among tendering note holders based upon the
amounts tendered, as the aggregate principal amount of notes tendered
exceeded the amount that could be purchased using the Excess Cash at a
purchase price of 100 percent of the principal amount thereof plus accrued
interest. For the purposes of determining the aggregate principal amount of
the notes tendered in order to apply the pro rata calculation, the aggregate
principal amount of the sterling-denominated notes tendered was converted to
dollars at the noon buying rate in the City of New York for cable transfers
in pounds sterling as announced by the Federal Reserve Bank of New York for
customs purposes on April 24, 2009. Notes accepted for purchase were
purchased at a cash price equal to 100 percent of the outstanding principal
amount of the notes tendered, together with any accrued and unpaid interest
outstanding on the date of the purchase.

Global Crossing UK Telecommunications Limited

Global Crossing UK Telecommunications Limited, the holding company of
GCUK Finance, provides a full range of managed telecommunications services in
a secure environment ideally suited for IP-based business applications. The
company provides managed voice, data, Internet and e-commerce solutions to a
strong and established commercial customer base, including more than 100 UK
government departments, as well as systems integrators, rail sector customers
and major corporate clients. In addition, Global Crossing UK provides carrier
services to national and international communications service providers.

ABOUT GLOBAL CROSSING

Global Crossing (Nasdaq: GLBC) is a leading global IP solutions provider
with the world's first integrated global IP-based network. The company offers
a full range of secure data, voice, and video products to approximately 40
percent of the Fortune 500, as well as to 700 carriers, mobile operators and
ISPs. It delivers services to more than 690 cities in more than 60 countries
and six continents around the globe.

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 web pages.

Visitors to the Investors web pages 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 web pages.

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; increased competition and pricing pressures resulting from
technology advances and regulatory changes; competitive disadvantages
relative to competitors with superior resources; the impact on the business
of an economic downturn or recession; dependence on a number of key
personnel; potential weaknesses in internal controls of acquired businesses,
and difficulties in integrating internal controls of those businesses with
GCUK's 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; the influence of the
company's parent, and possible conflicts of interest of the parent or of
certain of GCUK's directors and officers; our ability to raise capital
through financing activities; exposure to contingent liabilities; and other
risks referenced from time to time in GCUK's filings with the Securities and
Exchange Commission. GCUK 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

    Analysts/Investors Contact
    Mark Gottlieb
    +1-800-836-0342



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