Irish Government Purchases $80 Million Capacity from Global Crossing

Global Crossing Ireland, a wholly owned subsidiary of Global Crossing Ltd. (Beverly Hills, CA), has reached agreement with the Irish government to build an undersea fiber optic cable system that will link Ireland's leading companies and multinationals to the major cities of Europe and the world. Global Crossing will develop and own the system.

The undersea system will link two of Global Crossing's Irish telehouses via two diverse fiber cables connecting Ireland to the world's largest cities through the Global Crossing Network. The Irish Government will be the system's anchor customer under an $80 million agreement. Global Marine Systems Ltd., a wholly owned subsidiary of Global Crossing, will provide installation and maintenance for the undersea portion of the Irish system.

Under the terms of the agreement, IDA (Industrial Development Authority) Ireland will transfer the capacity to Ireland-based telecommunication carriers and service providers, thereby establishing a Public Private Partnership. Furthermore, Global Crossing will co-operate with IDA Ireland to assist in that resell effort.