Globix Plans $63.5 Million Public Stock Offering

NEW YORK – January 11, 1999

New York, New York, January 11, 1999 Globix Corporation (Nasdaq: GBIX) a leading provider of Internet connectivity and sophisticated Internet-based solutions for large and medium size businesses, today announced that it filed a Registration Statement with the Securities and Exchange Commission for a $63.5 million underwritten public offering of its Common Stock.

When available, a copy of the preliminary prospectus relating to the offering may be obtained from Donaldson, Lufkin & Jenrette Securities Corporation, Prospectus Dept., 277 Park Ave., New York, NY 10172, 212-892-4525, Bear, Stearns & Co. Inc, Prospectus Dept., 245 Park Ave., New York, NY 10167, 212-272-4850, and Lehman Brothers Inc, Prospectus Dept., Three World Financial Center, New York, NY 10285, 212-526-7000.

A Registration Statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time that the registration statement becomes effective.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state.

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.