Globix and Hicks, Muse, Tate & Furst Complete $80 Million Investment Transaction

NEW YORK and DALLAS – December 3, 1999

Globix Corporation (NASDAQ:GBIX) today announced that it has successfully completed the previously announced sale of a new Series A Convertible Preferred Stock to Hicks, Muse, Tate & Furst Incorporated for $80 million.

Terms of the Series A Convertible Preferred Stock include a dividend of 7.5% payable quarterly in cash or additional Series A Preferred Stock at the option of Globix. The Preferred stock is convertible into Globix Common Stock at $40 per share. There is a five-year non-call provision with mandatory redemption in 2014.

About Hicks, Muse, Tate & Furst

Since its formation in 1989, Hicks, Muse, Tate & Furst Incorporated has completed or currently has pending more than 300 transactions with a total capital value in excess of $37 billion. Headquartered in Dallas, the firm also has offices in New York, London, Mexico City and Buenos Aires.

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.