of the recent agreement between the companies to set up StarHub Crossing, a joint venture that will establish a backhaul network within Singapore to connect with AGC's pan Asian East Asia crossing subsea system. During the first quarter AGC received an initial deposit of $10.5 million toward the purchase and will receive an additional $10.5 million within ten days of the ready-for-service date of the crossing segment that connects Singapore. All capacity must be purchased within three years of system readiness. Terry Clontz, president and chief executive officer of StarHub, said: "The capacity purchase and our partnership with Asia Global Crossing will allow StarHub to more effectively compete as a viable alternative to the former monopoly carrier. "With the liberalisation of the telecommunications market in Singapore, StarHub can now deliver on our promise to bring competitive, high quality info-comms services to Singapore, which in turn helps Singapore become more competitive as a regional info-comms hub.'' John Legere, president and chief executive officer of ACG, said: "The introduction of competitive cables -- like our East Asia crossing system that will land in Singapore by the end of the year -- gives companies like StarHub an alternative source of international capacity, allowing them to compete more effectively on a global level.'' ACG provides the Asia Pacific region with a full range of integrated telecommunications and IP services. Through a combination of undersea cables, terrestrial networks, city fibre rings and complex web hosting data centres, ACG is building one of the first pan-Asian networks which will provide the Asia Pacific region with seamless access to major business centres worldwide.

In a separate announcement Global Crossing, the parent of Asia Global crossing, has named three new members of its board.

William Cohen, who has been chairman and chief executive officer of The Cohen Group since January 2001, is one of the new board members. From January 1997 through January 2001 he was Secretary of Defense in the Clinton administration, prior to which he served in the Senate and the US House of Representatives.

Another new member is Maria Lagomasino who is co-head of JP Morgan private Bank. She serves on several company boards and was inducted into the Academy of Women Achievers in the Class of 1992.

The third new member is Mark Attanasio who has been a group managing director of Trust Company of the West, an independent trust company, since 1995. He is a director of several other companies, including Global Crossing's subsidiary Asia Global Crossing.