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GLOBIX AND HICKS, MUSE, TATE & FURST COMPLETE $80 MILLION INVESTMENT TRANSACTION

NEW YORK and DALLAS — December 3, 1999 — Globix Corporation (NASDAQ: GBIX) today announced that it has successfully completed the previously announced sale of a new Series A Convertible Preferred Stock to Hicks, Muse, Tate & Furst Incorporated for $80 million.

Terms of the Series A Convertible Preferred Stock include a dividend of 7.5% payable quarterly in cash or additional Series A Preferred Stock at the option of Globix. The Preferred stock is convertible into Globix Common Stock at $40 per share. There is a five-year non-call provision with mandatory redemption in 2014.

About Hicks, Muse, Tate & Furst
Since its formation in 1989, Hicks, Muse, Tate & Furst Incorporated has completed or currently has pending more than 300 transactions with a total capital value in excess of $37 billion. Headquartered in Dallas, the firm also has offices in New York, London, Mexico City and Buenos Aires.

About Globix
Globix Corporation is a leading provider of Internet connectivity and advanced Internet services for businesses in the United States and Europe. Through its high-speed, fault-tolerant, fiber-optic network and state-of-the-art Internet Data Centers in New York City, Santa Clara, CA and London, UK, Globix delivers superior reliability, security and performance to companies using the Internet to deploy mission-critical business strategies. Cutting-edge applications include Co-Location, Web Hosting, Dedicated Access, Streaming Media, E-Commerce and Internet Security. Globix currently has points of presence at 18 Internet exchange points with 550 peering connections.

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.

Contacts:
Globix Corporation
Charles Strauzer
VP – Corporate Finance

212-625-7327
[email protected]

Hicks, Muse, Tate & Furst
Roy Winnick or Mark Semer
Kekst and Company
212-521-4842 or 4802

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