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Globix Announces Major Share Purchase

NEW YORK, NEW YORK, November 23, 1998 – Globix Corporation (NASDAQ: GBIX) today announced the purchase by Marc H. Bell, its President and Chief Executive Officer, of 125,000 Globix common shares from Harpoon Holdings Ltd. in a privately-negotiated transaction. An additional 125,000 shares of Globix were purchased by VMR Luxembourg, an affiliate of Value Management & Research, a German public company, which had invested $2.2 million in the Company in 1997. Harpoon Holdings, based in Singapore, was an early investor in Globix prior to its public offering. Harpoon will retain 612,500 shares of the Company, which represents approximately 15% of the total issued and outstanding shares.

Marc Bell commented, “We are pleased by this further vote of confidence from our good friends at Value Management & Research and are grateful for the continuing support of Harpoon Holdings which retains a very substantial investment in Globix.”


About Globix
Globix Corporation, one of fastest growing Internet Service Providers, is a leading provider of Internet-based solutions for mission-critical applications. Globix offers businesses a convenient single source for a full range of Internet-based products and services including Dedicated Access, Web Hosting, Co-location and more.

News and information are available at www.globix.com.

This press release may contain forward-looking statements. Actual results could differ materially from those projected in the forward-looking statements. Additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements is contained under the heading of Risk Factors listed from time to time in the Company’s filings with the Securities and Exchange Commission.

Contact:
Marc H. Bell, President
Globix Corporation
212-334-8501
[email protected]

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