Globix Corporation Reports Fiscal Q3 Results

NEW YORK – July 27, 2000

Globix Corporation (NASDAQ: GBIX) today announced record financialresults for its third quarter of fiscal year 2000, which ended June 30, 2000.

For the quarter, Globix posted record revenue from the Internet segment of $15.5 million. This is a50 percent increase over the second quarter of 2000 and a 358 percent increase over the thirdquarter of 1999, when revenue from the Internet segment was $3.4 million. Revenue totaled $21.4million, an increase of 128 percent over the $9.4 million in revenues for the same quarter last year.Revenue from the Server Sales and Integration segment was $5.9 million for the quarter, versus$6.0 million in the prior year’s quarter.

Globix continues to be one of the premier Streaming Media providers, and that service contributed$852,000 in revenue to the Internet segment in the third quarter – a 25 percent increase over thesecond quarter of 2000.

EBITDA loss (loss before net interest expense, income taxes, depreciation and amortization) was$15.1 million for the quarter, compared to $5.7 million for the same quarter last year.

Net loss attributable to common stockholders for the third quarter was $31.8 million, or $0.91 lossper share based on 34.9 million shares, compared to a net loss attributable to commonshareholders of $8.8 million, or $0.27 loss per share based on 33.1 million shares, for the samequarter last year.

‘With more than 50 percent sequential revenue growth in our core Internet segment, Globix isproving that customers want a robust Internet solution,’ said Marc H. Bell, Chairman and CEO. ‘Tofurther demonstrate this, the average annualized revenue from our top 100 customers increased 37percent from the previous quarter to $328,000, up from $239,000 last quarter. Additionally, weincreased our customer count from 2,020 last quarter to 2,337 in the third quarter.’

‘New bookings also continue to be robust,’ said Brian Reach, Chief Financial Officer. ‘During thethird quarter, Globix booked more than $22 million of new annualized recurring revenue. Ourcurrent annualized backlog is in excess of $10 million. When combined with our installed customerbase, our annualized recurring revenue run rate would be in excess of $72 million – a 40 percentincrease over last quarter.’

Significant Events During the Third Quarter of 2000

SuperPOP Expansion: Began construction in Boston. In the pre-construction planning stage forfacilities in Seattle, Los Angeles and a second New York location.

Network Expansion: Purchased an STM-16 (2.5 Gbps) ring on Viatel’s Pan-European Network, which extends theGlobix network from London to Amsterdam, Frankfurt and Paris. Purchased multiple STM-1 circuits connecting the United States and London via Trans-Atlanticfiber. Received delivery of our domestic 2.5 Gbps wavelength.Streaming Media: Fulfilled more than 33 million stream requests and transferred more than 12Terabytes of data.

Peering: Have signed agreements with approximately 400 companies for peering, representingnearly 980 connections.

Staffing: Increased our head count to more then 640 employees, up from over 590 in the priorquarter.

Corporate: Upgraded the financial infrastructure with the implementation of a new internal financialreporting system.

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.