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Joint response by Hutchison Whampoa and ST Telemedia on the
court approval regarding the buyer protection motion relating to
their bid for Global Crossing:

(New York, 25 March 2002)

"We are pleased to have received Court approval on a buyer protection motion that was supported by Global Crossing and its creditors."

"While this is the first step in the process, it provides the necessary framework to work towards a definitive agreement with Global Crossing that provides value for its creditors, customers and employees. It is our goal to work with the company's management and creditors to facilitate a reorganization of the business as quickly as possible in order to ensure continued service to Global Crossing's customers."

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For enquiries, please contact:

Hutchison Whampoa LimitedSingapore Technologies Telemedia
Ms Nora YongMs Melinda Tan
Tel: (852) 2128 1289Tel: (65) 6723 8690