Global Crossing Replaces Winnick

NEW YORK -- The Board of Directors of Global Crossing today announced that it has accepted the resignation of Gary Winnick as Chairman of the Board and a member of the Board of Directors, effective today.In a statement, the directors said, “We wish to acknowledge Gary Winnick’s role as founder of a company that today provides advanced telecommunications services to thousands of customers worldwide. The company’s Plan of Reorganization having now been approved, we respect his desire to make this decision.”It is anticipated that independent directors Jeremiah D. Lambert and Myron E. Ullman, III will be elected as Co-Chairmen of the Board of Directors, also effective today. Messrs. Lambert and Ullman have served since April 2002 as independent directors of Global Crossing and as members of the Audit Committee, Compensation Committee and Special Committee on Accounting Matters.Global Crossing Holdings Ltd.