Global TeleSystems, Inc. (GTS) (NYSE: GTS; EASDAQ: GTSG; Frankfurt: GTS), the leading pan-European provider of broadband optical and IP network services, today announced that the company's Board of Directors has elected not to pay dividends on its 7-1/4 percent cumulative convertible preferred stock this quarter. The preferred stock is represented by depositary shares, each representing 1/100 of a share of the 7-1/4% cumulative convertible preferred stock (CUSIP nos. 37936U401 and 37936U609).

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