Wechsler Harwood Halebian & Feffer LLP Filed Class Action Against Globix Corporation for Violations of the Federal Securities Laws

Wechsler Harwood Halebian & Feffer LLP has commenced a lawsuit against Globix Corporation ("Globix" or the "Company") (NASDAQ: GBIX) and certain of its senior officers for violations of the federal securities laws in a class action lawsuit brought in the United States District Court for the Southern District of New York.

The lawsuit was brought on behalf of all persons who purchased Globix common stock on the open market during the period from November 16, 2000 through December 27, 2001 ("the Class Period"), inclusive.

The Complaint charges defendants with violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. The complaint alleges, among other things that starting on November 16, 2000 defendants set forth the Company's business plan which stated in no uncertain terms that Globix would be fully funded to fiscal 2003 and thereafter cash flow positive. This sentiment was repeated in Globix's annual report filed on Form 10-K with the SEC and thereafter in Company press releases and conference calls. Despite such assurances, on December 27, 2001, defendants announced that management had been secretly negotiating with its bondholders and preferred stockholders to effectuate a pre-packaged bankruptcy that would result in a near total dilution of the existing common stockholders' interest in the Company.

The Complaint further alleges that defendants' misrepresentations caused the price of Globix common stock to be artificially inflated throughout the Class Period.

Wechsler Harwood has extensive experience representing shareholders in class actions and has served as lead counsel on behalf of shareholders in many such actions. The reputation and expertise of this firm in shareholder and other class actions has repeatedly been recognized by the courts.

Any member of the proposed class who desires to be appointed lead plaintiff in this action must file a motion with the Court no later than March 5, 2002. Class members must meet certain legal requirements to serve as a lead plaintiff. If you have questions or information regarding this action, or if you are interested in serving as a lead plaintiff in this action, you may call or write:

Wechsler Harwood Halebian & Feffer LLP, 488 Madison Avenue, New York, New York 10022, toll free 877-935-7400, or by contacting Ramon Pinon IV, Wechsler Harwood Shareholder Relations Department; Globix Corporation: rpinoniv@whhf.com.

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SOURCE: Wechsler Harwood Halebian & Feffer LLP

Contact: Ramon Pinon IV of Wechsler Harwood Shareholder Relations
Department, +1-877-935-7400, rpinoniv@whhf.com

Website: http://www.whhf.com/