Globix Announces Intention to Commence Cash Tender Offer for Outstanding 13% Senior Notes Due 2005

NEW YORK – January 28, 2000

Globix Corporation (NASDAQ:GBIX) today announced that it intends to commence a tender offer to purchase for cash all of its outstanding 13% Senior Notes due 2005, $160 million in principal amount, subject to the conditions contained in the following paragraph. The tender price will be 106.5% of the principal amount plus accrued and unpaid interest. In connection with the tender offer, Globix is also seeking consents to eliminate most of the restrictive covenants contained in the indenture under which the currently outstanding 13% Senior Notes were issued. The Company is required to commence the tender offer only if it is able to raise gross proceeds in excess of $425.0 million from its previously announced private placement of new Senior Notes, on terms and conditions acceptable to the Company, and it receives consents from a majority of the holders of its currently outstanding 13% Senior Notes eliminating such covenants.

This press release does not constitute an offer to sell or the solicitation of any offer to buy any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offering would be unlawful.

The new Senior Notes to be offered have not been registered under the Securities Act of 1933, as amended, or any state securities laws, and, unless so registered, may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws.

About Globix

Globix is a leading provider of advanced Internet hosting, network and applications solutions for business. Globix delivers services via its secure state-of-the-art Internet DATA Centers, its high-performance global backbone and content delivery network, and its world-class technical professionals. Globix provides businesses with cutting-edge Internet resources and the ability to deploy, manage and scale mission-critical Internet operations for optimum performance and cost efficiency.

This press release contains forward-looking statements relating to the Company’s or management’s intentions, beliefs, expectations or predictions for the future. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the Company’s actual results to differ materially FROM those projected in the forward-looking statements. These risks, assumptions and uncertainties include the ability to finance the operations and complete the planned expansion of our facilities and network; our reliance on the growth of the Internet and e-commerce; our success against competitors with significantly greater resources; and other risks listed under the heading of Risk Factors in the Company’s filings with the Securities and Exchange Commission.