LONDON, September 21 /PRNewswire/ --

Global Crossing (UK) Finance Plc ("GCUK Finance") today announced that it
has completed the exchange offer for its 11.75 percent Sterling-denominated
senior secured notes due in 2014 and issued on December 28, 2006.

GCUK Finance offered to exchange 52 million Pounds Sterling of its 11.75
percent Sterling-denominated senior secured notes due in 2014 and issued on
December 28, 2006 (the "Original Notes") for an equivalent principal amount
of newly issued 11.75 percent Sterling-denominated senior secured notes due
in 2014 (the "Exchange Notes") that have been registered under the Securities
Act of 1933, as amended (the "Securities Act"). The terms of the Exchange
Notes are substantially identical to the Original Notes, except that the
Exchange Notes have been registered under the Securities Act and do not have
registration rights.

GCUK Finance reported that holders of 52,000,000 Pounds Sterling, or 100
percent, of the outstanding aggregate principal amount of the Original Notes
accepted the offer to exchange their notes as of the closing of the offer at
9:00 a.m. BST on Friday, September 21, 2007. GCUK Finance anticipates that
the new Exchange Notes will be issued on September 21, 2007.

The Common Code and ISIN numbers for the newly issued Exchange Notes are
022661345 and XS0226613452, respectively.

This press release shall not constitute an offer to sell or the
solicitation of an offer to purchase. No sale of these securities shall occur
in any jurisdiction on which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities law of
said jurisdiction.

Neither the Securities and Exchange Commission nor any state securities
commission has approved or disapproved of the Exchange Notes to be issued in
the exchange offer or passed upon the adequacy or accuracy of the prospectus
used in connection with the exchange offer. Any representation to the
contrary is a criminal offense.

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 320 cities in 31 countries worldwide, and delivers
services to more than 600 cities in 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 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 -- and remains the only -- global communications provider with IPv6 
natively deployed in both its private and public backbone networks.

Please visit www.globalcrossing.com or blogs.globalcrossing.com/ for more
information about Global Crossing.

LONDON, September 21 /PRNewswire/ --

Statements in this press release about expected future events and
financial results are forwardlooking 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. 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 Contacts
    Becky Yeamans
    +1-973-937-0155
    PR@globalcrossing.com

    Jo Graves
    Europe
    +44-(0)-1256-732-837
    EuropePR@globalcrossing.com

    Analysts/Investors Contact
    Gino Mathew
    +1-973-937-0133
    glbc@globalcrossing.com



IR/PR1

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