announced that it will be floating the company on the stock market.

In a release, the company announced it had filed a registration statement with the Securities and Exchange Commission to cover the initial public offering of shares of its Class A common stock.

Asia Global Crossing is owned by Global Crossing, Softbank and Microsoft.

The company said it intends to use the net proceeds from the offering primarily to continue building its network, make additional capital investments in its operations and for general corporate purposes.

Asia Global Crossing may also use a portion of the net proceeds to make strategic investments.

Asia Global Crossing anticipates that the offering will be completed this summer, subject to market conditions.

The shares will be offered by an underwriting group led by joint book-running managers Goldman, Sachs & Co. and Salomon Smith Barney and joint-lead manager Merrill Lynch & Co.

Asia Global Crossing provides broadband, IP-based, data, voice, and internet services and GlobalCenter's data products for businesses and consumers throughout Asia.

NOVASIC ON THE MOVE BUC Novasic on the move The Vice President of Funding at Bermuda-based Sea Containers, Nicholas Novasic, is to leave his post to join Willis Lease Finance Corporation as Executive Vice President, Finance and CFO.

Mr. Novasic will join the new company as of June 15, 2000.

Mr. Novasic has been at Sea Containers -- a passenger transport, marine container leasing and luxury hotel operator -- as a member of senior management.

He was partly responsible for the allocation of funds at the $2.5 billion international company.

During his time at Sea Containers, Mr. Novasic has raised significant amounts of capital and aggressively expanded and diversified the company's extensive capital raising activities.

Willis Lease Finance Corporation provides leases of spare commercial aircraft engines, rotable parts and aircraft to commercial airlines, aircraft engine manufacturers and overhaul/repair facilities.