[June 16, 2005] Panavision Selects Global Crossing for Secure, Mission-Critical Communications Network Tweet FLORHAM PARK, N.J., June 16 /PRNewswire-FirstCall/ -- Global Crossing today announced that it has fully implemented a new 17-site global network for Panavision, the worldwide market leader in the design, manufacture and rental of camera systems for production of motion pictures, television series and television commercials. Global Crossing's true global reach matched Panavision's requirements for seamless communications across its worldwide enterprise, allowing Panavision to transmit mission-critical business communications and internal applications securely and efficiently. Panavision is utilizing the data network to transmit critical business communications and internal applications -- such as accounting applications to meet Sarbanes Oxley compliance -- among its disparate locations in the U.S., Europe and Australia. In addition to supporting these applications over Global Crossing's seamless, self-healing, fiber-optic network, this communications solution gives Panavision the ability to easily migrate to a fully converged IP network at its own pace. To deploy Panavision's network, Global Crossing provided a local account team with global expertise backed by a global support infrastructure. This approach, coupled with Global Crossing's simplified monitoring and management with quick resolution of network issues, gave the customer the confidence to quickly and efficiently get the network up and running. "We're thrilled to add Panavision to our growing list of multinational customers that have come to rely on Global Crossing for their communications needs," said John Legere, Global Crossing's chief executive. "The successful implementation of their network has enabled Panavision to effortlessly and efficiently communicate among different facilities and offices -- all with the peace of mind of unmatched security, performance and manageability." Global Crossing addresses the specific efficiency and security needs of multinational companies through its comprehensive portfolio of IP products and services and fully meshed global multiprotocol layer switching-based (MPLS) private network. Multinational companies can readily employ a proven global network application, using technology as a driver to reduce total cost of ownership, improve efficiencies, ensure unprecedented network security and simplify network design. Global Crossing delivers highly secure network environments to its customers through a comprehensive set of policies and initiatives. The company has signed a precedent-setting Network Security Agreement with the U.S. government, and is also cleared to handle sensitive government traffic for the UK. The company's comprehensive, end-to-end network management system monitors traffic 24 hours a day, seven days a week for unsurpassed reliability, providing real-time diagnosis and resolution. Global Crossing is committed to delivering efficient, scalable IP services to its customers while supporting their transition to a converged IP environment. Global Crossing's converged IP network, connecting more than 500 cities in more than 50 countries on 6 continents and operating at 99.999 percent availability, enables customers to fully experience the benefits of IP. Global Crossing's IP knowledge center, found at http://www.ipknowledgecenter.com/, provides more information on the features and benefits of IP convergence. The original contract for services was signed in June 2004 and implementation was finalized on March 2005. ABOUT GLOBAL CROSSING Global Crossing provides telecommunications solutions over the world's first integrated global IP-based network. Its core network connects more than 300 cities and 30 countries worldwide, and delivers services to more than 500 major cities, 50 countries and 6 continents around the globe. The company's global sales and support model matches the network footprint and, like the network, delivers a consistent customer experience worldwide. Global Crossing IP services are global in scale, linking the world's enterprises, governments and carriers with customers, employees and partners worldwide in a secure environment that is ideally suited for IP-based business applications, allowing e-commerce to thrive. The company offers a full range of managed data and voice products including Global Crossing IP VPN Service, Global Crossing Managed Services and Global Crossing VoIP services, to more than 40 percent of the Fortune 500, as well as 700 carriers, mobile operators and ISPs. Please visit http://www.globalcrossing.com/ for more information about Global Crossing. Statements made in this press release that state the company's intentions, beliefs, expectations, or predictions for the future are forward-looking statements. These statements contain words such as "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," "will," "seek," or similar expressions. Such statements are subject to known and unknown risks, uncertainties and other factors that could cause the actual results to differ materially from those contemplated by the statements, including the conditioning of the company's continued listing on the NASDAQ National Market on its timely filing with the SEC of all periodic reports for all reporting periods ending on or prior to September 30, 2005; the company's history of substantial operating losses and the fact that, in the near term, funds from operations will not satisfy cash requirements; legal and contractual restrictions on the payment of dividends and the inter-company transfer of funds by the company's subsidiaries, including restrictions under the senior secured notes indenture applicable to Global Crossing (UK) Telecommunications Limited ("GCUK"); the likelihood that the prices the company charges for its services will continue to decrease; the company's ability to continue to connect its network to incumbent carriers' networks or maintain Internet peering arrangements on favorable terms; the success of the company's business realignment plan and the realization of anticipated cost savings; the consequences of any inadvertent violation of the company's Network Security Agreement with the U.S. Government; the impact of actual and potential customers' bankruptcies on the company's sales prospects and results of operations; increased competition and pricing pressures resulting from technology advances and regulatory changes; competitive disadvantages relative to competitors with superior resources; the impact on the company's competitiveness of its technology choices; the company's dependence on third parties for many functions; political, legal and other risks due to the company's substantial international operations; risks arising out of the company's material weaknesses in internal controls and possible difficulties and delays in improving such controls; the concentration of GCUK's revenue in a limited number of customers, and the rights of such customers to terminate their contracts or to simply cease purchasing services thereunder; and other risks referenced from time to time in the company's filings with the Securities and Exchange Commission. The company undertakes no duty to update information contained in this press release or in other public disclosures at any time. CONTACT GLOBAL CROSSING: Press Contacts Tisha Kresler + 1 973-937-0146 [email protected] Kendra Langlie + 1 305-808-5912 [email protected] Mish Desmidt Europe + 44 (0) 7771-668438 [email protected] Analysts/Investors Contact Laurinda Pang + 1 800-836-0342 [email protected] Global Crossing CONTACT: Press, Tisha Kresler, +1-973-937-0146, [email protected],or Kendra Langlie, +1-305-808-5912, [email protected], or Europe,Mish Desmidt, +44-7771-668438, [email protected], orAnalysts/Investors, Laurinda Pang, 1-800-836-0342, [email protected],all of Global Crossing Web site: http://www.globalcrossing.com/http://www.ipknowledgecenter.com/ [ Back To TMCnet.com's Homepage ]