February 06, 2001

Global Crossing, Ltd. announced that José Antonio Ríos has joined the company as President, Latin America and the Caribbean, effective immediately. Mr. Ríos, who will report directly to Global Crossing's Chief Executive Officer Tom Casey, has also been named senior vice president of Global Crossing Ltd. and will serve as a member of the company's management committee.

Mr. Ríos will oversee all Global Crossing operations in Latin America and the Caribbean and will be based at the company's regional headquarters in Miami. He will take over responsibilities handled in an interim capacity by Joseph P. Clayton, president of North America for Global Crossing. In 2000, the company combined the operational territories of South America and Mexico, Central America and the Caribbean into one region. Global Crossing's regional presence includes approximately 160 employees located in Miami and in seven in-region offices.

Prior to joining Global Crossing, Mr. Ríos served as President and CEO of Telefónica Media, where he managed a diverse portfolio of companies in the media, telecommunications and Internet sectors. He also contributed decisively to Telefónica's expansion and integration into Latin America, including several strategic merger and acquisition efforts, among them the successful Terra/Lycos merger that created the world's third largest Internet portal. Mr. Ríos was one of seven members of the corporate executive committee of Telefónica S.A. and a corporate general director. He also served on the boards of over 30 companies within the Telefónica group. Currently, Mr. Ríos is chairman of the supervisory board of Endemol Entertainment. Endemol, which is based in Holland, is the largest independent television producer in Europe.

"We are delighted that an executive with the stature and experience of José Antonio Ríos has joined Global Crossing to lead our efforts in one of the world's most dynamic and diverse regions," said Mr. Casey. "His unparalleled knowledge of the region and his successful background as a pioneer in the telecom, Internet and media industries will be invaluable as we move forward with our aggressive expansion plans in Latin America. We look forward to working with José Antonio to change the face of telecommunications in Latin America and the world."

Added Mr. Ríos, "I look forward to contributing to the continued development and future growth of Global Crossing in Latin America & the Caribbean region, as well as participating in the unprecedented creation of the world's first truly global broadband services provider. I am delighted to have the opportunity to contribute to a leading global management team, recognized throughout the industry for its professionalism and entrepreneurial spirit."

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