Court Confirms Globix Plan of Reorganization; Company Expects to Emerge from Bankruptcy April 18

NEW YORK – April 9, 2002

NEW YORK – April 9, 2002 – Globix Corporation (OTCBB: GBIXQ) today announced that the United States Bankruptcy Court confirmed the joint pre-packaged Plan of Reorganization filed by Globix and certain subsidiaries. Globix expects the Plan to become effective on or about April 18, 2002.As previously announced, after consummation of the Plan, the Company’s bondholders will exchange the currently outstanding $600 million principal amount of senior notes for their pro rata share of $120 million in new senior secured notes and approximately 85% of the reorganized Company’s new common stock. Current holders of the Company’s preferred stock will receive approximately 14% of the new common stock. Current holders of the Company’s common stock will receive approximately 1% of the new common stock. Under the plan, all currently existing securities of the Company will be cancelled with new shares to be issued.

Peter Herzig, Chief Executive Officer, said, ‘We are extremely pleased to be emerging from these proceedings so quickly. The support we have received from our bondholders and preferred shareholders has allowed us to move with relative ease through this process. Now that we have taken these necessary steps to solidify Globix’s financial position, we can focus on promoting our capabilities as a premium provider of advanced complex hosting services. We are especially proud of the fact that during these proceedings we were able to provide customers with the same high level of service they have come to expect from Globix. I would like to extend our deepest appreciation to our clients for their loyalty during this process. I would also like to extend my thanks to all our employees who have worked so hard these past months to insure the success of this process and the future of our company.’

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.