LONDON -- Global TeleSystems (Europe) Ltd., formerly known asEsprit Telecom Group plc ("Esprit Telecom"), a subsidiary of GlobalTeleSystems, Inc. ("GTS") (NYSE: GTS; Easdaq: GTSG; Frankfurt: GTS), todayannounced that it has successfully completed its solicitation of consentsfrom the holders of its $230,000,000 11½% Senior Notes due 2007, its DM125,000,000 11½% Senior Notes due 2007, its $150,000,000 10.875% SeniorNotes due 2008 and its DM 150,000,000 11% Senior Notes due 2008(collectively, the "Notes") to certain amendments to the indenturesgoverning the Notes. These amendments will permit Esprit Telecom to, amongother things, enter into proposed senior secured credit facilities with itsparent, GTS. These amendments are intended to provide Esprit Telecom andthe other companies that comprise the GTS Business Services division of GTSwith interim funding in connection with the implementation of the proposedrestructuring of Esprit Telecom's obligations under the Notes announced onMarch 28, 2001. The amendments will also permit Esprit Telecom to undertakecertain asset transfers related to the restructuring and to terminate itsobligation under the indentures governing the Notes to file periodic reportswith the SEC. Valid consents, representing a majority in principal amountof the outstanding Notes of each series, were received prior to theexpiration of the consent solicitation.

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