SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Expires: February 28, 2011 Estimated average burden hours per response 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* STT CROSSING LTD (Last) (First) (Middle) 10 FRERE FELIX DE VALOIS STREET (Street) PORT LOUIS O4 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol GLOBAL CROSSING LTD [ GLBC ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director X 10% Owner Officer (give title below) Other (specify below)
	3. Date of Earliest Transaction (Month/Day/Year) 08/27/2007
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) Form filed by One Reporting Person X Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
COMMON SHARES	08/27/2007		C ( 1 )		7,772,855 ( 1 )	A	( 1 )	20,556,000 ( 1 )	D ( 3 )
COMMON SHARES	08/27/2007		X ( 1 )		8,806,431 ( 1 )	A	$0.01 ( 2 )	29,362,431 ( 1 )	D ( 3 )

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
4.7% SENIOR SECURED MANDATORY CONVERTIBLE NOTES	$18.6	08/27/2007		C ( 1 )			$250,000,000	( 1 )	( 1 )	COMMON SHARES and WARRANTS ( 1 )	( 1 )	( 1 )	0 ( 1 )	D ( 3 )
WARRANTS	$0.01	08/27/2007		C ( 1 )		8,806,431 ( 1 )		08/27/2007	08/27/2017	COMMON SHARES	8,806,431	( 1 )	8,806,431 ( 1 )	D ( 3 )
WARRANTS	$0.01	08/27/2007		X ( 1 )			8,806,431 ( 1 )	08/27/2007 ( 1 )	08/27/2017 ( 1 )	COMMON SHARES	8,806,431	( 1 )	0 ( 1 )	D ( 3 )

1. Name and Address of Reporting Person* STT CROSSING LTD (Last) (First) (Middle) 10 FRERE FELIX DE VALOIS STREET (Street) PORT LOUIS O4 (City) (State) (Zip)

1. Name and Address of Reporting Person* TEMASEK HOLDINGS (PRIVATE) LTD (Last) (First) (Middle) 60B ORCHARD ROAD #06-18 TOWER 2 THE ATRIUM@ORCHARD (Street) SINGAPORE U0 238891 (City) (State) (Zip)

1. Name and Address of Reporting Person* SINGAPORE TECHNOLOGIES TELEMEDIA PTE LTD (Last) (First) (Middle) 51 CUPPAGE ROAD #10-11/17 STARHUB CENTRE (Street) SINGAPORE U0 229469 (City) (State) (Zip)

1. Name and Address of Reporting Person* STT COMMUNICATIONS LTD (Last) (First) (Middle) 51 CUPPAGE ROAD #10-11/17 STARHUB CENTRE (Street) SINGAPORE U0 229469 (City) (State) (Zip)

Explanation of Responses:

1. On August 27, 2007, upon conversion of the 4.7% Senior Secured Mandatory Convertible Notes held by STT Crossing Ltd ("STT Crossing") pursuant to the recapitalization agreement dated May 9, 2007, as amended on June 1, 2007 between Global Crossing Limited ("Global Crossing") and STT Crossing, Global Crossing (i) delivered to STT Crossing 7,772,855 common shares and (ii) entered into the following agreements: a) a warrant agreement (the "Warrant Agreement") pursuant to which Global Crossing issued the 8,806,431 warrants exercisable into 8,806,431 common shares (the "Warrants") to STT Crossing and delivered a warrant certificate for the Warrants and b) an amendment to the registration rights agreement (the "Amendment No. 3 to the Registration Rights Agreement"). On August 27, 2007, STT Crossing exercised such Warrants pursuant to which Global Crossing delivered 8,806,431 common shares to STT Crossing.

2. The Warrants were issued to STT Crossing on August 27, 2007. The Warrants may be exercised at an exercise price of $0.01 per share into 8,806,431 common shares of Global Crossing, subject to certain adjustments as set forth in the Warrant Agreement governing the Warrants.

3. Temasek Holdings (Private) Limited is the parent of Singapore Technologies Telemedia Pte Ltd, which is the direct parent of STT Communications Ltd, which is the parent of STT Crossing, the designated filer. Because of the foregoing relationships, the direct and indirect parents of STT Crossing may be deemed to indirectly own the reported securities directly owned by STT Crossing. Temasek disclaims beneficial ownership of such securities except to the extent of its pecuniary interest therein.

	/s/ STEPHEN GEOFFREY MILLER, Director, STT CROSSING LTD	08/28/2007
	/s/ CHIA YUE JOO, Managing Director, Legal & Regulations, TEMASEK HOLDINGS (PRIVATE) LIMITED	08/28/2007
	/s/ CHAN JEN KEET, Company Secretary, SINGAPORE TECHNOLOGIES TELEMEDIA PTE LTD	08/28/2007
	/s/ CHAN JEN KEET, Company Secretary, STT COMMUNICATIONS LTD	08/28/2007
	** Signature of Reporting Person	Date
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