FLORHAM PARK, N.J. -- Global Crossing today issued the following statement:

We're pleased to acknowledge that experienced investors in the telecom sector, Carlos Slim and his family, have accumulated a 9.1 percent share of the company's common equity (5 percent of our total equity). We believe their investment shows confidence in our future, as we pursue our goal of a leadership position in the telecommunications industry.

ST Telemedia's majority position remains unchanged.

Global Crossing Holdings Ltd.