Globix Corporation Completes Offer to Purchase $40 million of its Senior Notes

New York - February 27, 2004 - Globix Corporation (OTC: GBXX), a leading
provider of managed Internet applications and infrastructure services, today
announced it had received the tender of $97,956,711 in principal amount of its
11% Senior Notes due 2008 ("Notes"). Under the terms of the offer, Globix will
purchase $40,274,000 of the tendered, outstanding Notes for cash at par plus
accrued interest. This offer is being funded with a portion of the net proceeds
from the sale of its property located at 415 Greenwich Street in New York, New
York which closed on January 22, 2004. In that the value of tendered bonds
exceeded the offer to purchase, the purchase will be conducted on a pro-rata
basis. Replacement notes will be issued to tendering noteholders for the balance
of their unpurchased notes, where necessary.

The offer expired at 10:00 a.m., New York City time, on February 25, 2004.
Payment for tendered Notes will be made in same-day funds on March 3, 2004.

"With the sale of Greenwich Street and now the nearly 40% reduction in our
long-term debt, we can turn all of our energies back to accelerating and
sustaining the Company's growth, while continuing to streamline its operations,"
said Pete Stevenson, Globix's CEO.

About Globix:
Globix (http://www.globix.com) is a leading provider of managed Internet
applications and infrastructure services for enterprises. Globix delivers and
supports mission-critical applications and services via its secure Data Centers,
high-performance global Tier 1 IP backbone, and content delivery network.
Through Aptegrity, its managed services group, Globix provides remote management
of custom and off-the-shelf web-based applications on any server, anywhere, at
any time. By managing such complex e-commerce, database, content management and
customer relationship management software for its clients, Globix helps them to
protect Internet revenue streams, reduce technology operating costs and
operating risk, and improve user satisfaction. Globix's clients are companies
which use the Internet as a way to provide business benefits and sustain a
competitive advantage in their markets. Our clients include operating divisions
of Fortune 100 companies as well as mid-sized enterprises in a number of
vertical markets including health care, media and publishing, technology and
financial services. Globix and its subsidiaries have operations in New York,
London, Santa Clara and Atlanta.

Risk Factors and Forward-Looking Statements:
This press release contains forward-looking statements within the meaning of
Section 21E of the Securities Exchange Act of 1934. These statements are based
on current information and expectations and are subject to risks and
uncertainties that could cause the company's actual results to differ materially
from those expressed or implied in the forward-looking statements. These risks
and uncertainties include: the company's ability to retain existing customers
and attract new customers; its ability to match its operating cost structure
with revenue to achieve positive cash flow; the sufficiency of existing cash and
cash flow to complete the company's business plan and fund its working capital
requirements; risks associated with making acquisitions; restrictions on our
financial and operating flexibility due to the terms of our existing
indebtedness and our high degree of leverage; the insolvency of vendors and
other parties critical to the company's business; the company's existing debt
obligations and history of operating

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losses; its ability to integrate,  operate and upgrade or downgrade its network;
the company's ability to recruit and retain qualified  personnel needed to staff
its operations;  potential market or technological changes that could render the
company's products or services obsolete;  changes in the regulatory environment;
and other changes that are discussed in the company's Annual Report on Form 10-K
and other  documents  that the company  files with the  Securities  and Exchange
Commission.


Press Contacts:
------------------
Michael van Dijken
212-334-8500
mvandijken@globix.com
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