Globix Names Peter Herzig as Vice Chairman of the Board

NEW YORK – May 14, 2002

Globix Corporation (OTCBB: GBIXQ), a leading provider of advanced Internet hosting, network and applications solutions for business, has announced that, effective immediately, Chief Executive Officer Peter Herzig will vacate the CEO position and join the company’s Board of Directors to serve as Vice Chairman of the Board. The company also announced that Peter Stevenson, a Globix Board Member, will become President and CEO of the Company.

As Vice Chairman, Mr. Herzig will spearhead Globix’s efforts to identify and to pursue strategic initiatives and relationships, both domestically and abroad. Globix, which has recently emerged from Chapter 11 bankruptcy protection, has operations throughout the United States and in Europe.

“I am extremely excited about this opportunity,” said Herzig. “My new position, coupled with my prior experience as COO and CEO of the company, will allow me to leverage my professional strengths on behalf of the company, and is a logical next step for Globix as it emerges from bankruptcy. I look forward to being able to focus on identifying potential strategic initiatives aimed at improving Globix’s product offerings and enhancing company value.”

“I am especially pleased that Peter Stevenson will be joining the company as President and CEO,” Mr. Herzig continued. Over the past several months he has made a significant contribution to the improved performance of the company as Board member and advisor to the Company. His familiarity with our business and our management team should enable a smooth transition as we all work together to make Globix profitable.”

Mr. Herzig joined Globix in October 2000 as a senior vice president and was promoted to chief operating officer in March 2001 before becoming the chief executive officer in August 2001. Mr. Herzig guided the company through its recently-completed Chapter 11 proceeding. As Vice Chairman, a position reporting directly to the Globix Board of Directors, Herzig will focus exclusively on strategic initiatives and strategic relationships for the company.

Mr. Stevenson, who is affiliated with Communication Technology Advisors LLC, a firm that served as a financial operational advisor to the Globix bondholders during the company’s Chapter 11 proceeding and currently provides consulting services to Globix, has over 20 years of management experience in the telecommunications industry. He serves as the CEO of Net One Group, Inc, a privately held telecommunications consulting company and has served as President, Chief Operating Officer – Data/Telephony Group of VenInfoTel, LLC, Caracas, Venezuela. He is a 14-year veteran of Bell Atlantic Corporation (now Verizon), where he served in various management capacities with increasing responsibilities, including Managing Director, Corporate Development. “This is a terrific opportunity to collaborate with a talented team of professionals while we re-establish Globix as an important player in meeting customers’ requirements for superior managed services, hosting and internet solutions. Our intense focus on reaching strong financial and operating performance, coupled with the company’s supportive Board of Directors and owner group, is resulting in a very strong competitor in the market at a time when other players appear to have significant challenges in front of them.”

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.