Florham Park, N.J. (June 23, 2004) -- Global Crossing said an independent investigation into the company's accounting troubles didn't reveal any prior knowledge by management or indications of management integrity issues, and said it's implementing improved internal controls.

The investigation by Deloitte & Touche into Global Crossing's understatement of cost-of-access liabilities and expenses didn't reveal any knowledge by management of an understatement related to the year-end 2003 financial statements until after the filing of such financial statements in March 2004, the company said this week.

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