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GLOBIX EXERCISES RIGHTS TO ACQUIRE EDGAR ONLINE STOCK

Total Holdings of Edgar Online – Now 1,366,667 Shares of Common Stock


NEW YORK, NEW YORK-May 26, 1999Globix Corporation (NASDAQ: GBIX), announced that in conjunction with the Initial Public Offering of EDGAR Online, Inc. it has converted its $1 million debenture and exercised its warrants issued by EDGAR Online on May 10, 1999. Pursuant to the July 1998 agreement with EDGAR Online, Inc., Globix was issued 670,000 shares of common stock from the conversion of its debenture. By exercising the warrants Globix was issued 696,667 shares of common stock, thereby acquiring a total of 1,336,667 shares of EDGAR Online common stock.

On May 26, 1999 EDGAR Online, Inc. announced the commencement of the initial public offering of 3,600,000 shares of its Common Stock at $9.50 per share. The shares will trade on the NASDAQ National Market under the trading symbol “EDGR”. Based on shares outstanding as of May 26, 1999, Globix will own 11.58% of EDGAR Online’s shares after the completion of the initial public offering and has granted underwriters the option to sell 126,000 shares of common stock to cover over-allotments. Should the underwriters elect to exercise the over-allotment option in full, Globix will net approximately $1,112,580 and will own 10.49% of EDGAR Online, Inc. However, no assurance can be given that the over-allotment option will be exercised. The remaining shares would remain subject to an underwriter’s lockup that expires May 26, 2000.

About Globix
Globix Corporation is a leading provider of Internet connectivity and sophisticated Internet-based solutions to large and medium size businesses. Globix provides businesses with a comprehensive range of value-added products and services designed to enable them to take advantage of their corporate networks and the Internet to effectively carry out their business strategy.

This press release contains 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:
Charles Strauzer – Manager, Investor Relations
Globix Corporation
212-625-7327
[email protected]

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