Global Crossing Names CFO

FLORHAM PARK, N.J. -- Global Crossing announced today that Daniel P. O'Brien has been named executive vice president and chief financial officer. O'Brien's appointment follows a recently announced streamlining of the executive leadership team, in which John Legere assumed direct supervision of all operational, sales and product development divisions.

Global Crossing also announced today that Dan J. Cohrs, its CFO since 1998, would continue in a transitional role until the transfer of his duties is complete.

"Dan O'Brien brings to Global Crossing's leadership team a strong track record in strategic development and financial performance," commented John Legere, Global Crossing's CEO. "As we focus our attention on the new Global Crossing that will emerge in coming months, Dan's expertise will be instrumental in moving us toward profitability and growth."

O'Brien brings more than twenty years of technology and finance experience to Global Crossing. Most recently the CFO of Genuity Corporation, O'Brien spent 17 years in various roles at GTE Corporation. As GTE's executive vice president and CFO, O'Brien was centrally involved in the strategic evaluations and the integration and structuring activities leading to the merger of GTE and Bell Atlantic, which formed Verizon.

Before joining GTE in a corporate capacity, O'Brien held several positions with the Electrical Products Group of GTE, including vice president and controller of GTE European Lighting in Geneva, Switzerland. He also served in various financial and management capacities within the manufacturing and chemical industries. O'Brien holds a B.S. in chemistry from Boston College and an M.B.A. from the University of Chicago.

"By combining the talent of our executive leadership team, the efficiencies we've reached during the past eighteen months, and our unmatched global network, Global Crossing is poised for success in the telecommunications industry," Legere continued. "I would like to personally thank Dan Cohrs for his dedication over the past five years at Global Crossing and for aiding us with this transition."

Global Crossing Holdings Ltd.