Montreal, Quebec - Wednesday, July 26, 2000, 12:10 PM EDT 

Teleglobe Inc. (NYSE, TSE: TGO) announces the signature of
364-day senior credit facilities of $US1.25 billion subscribed by
a syndicate of 10 US, Canadian and European banks. These
facilities include a US$750M revolving facility originating from
the US and a US$500M revolving facility originating from Canada.
This new financing replaces the corporation's facilities that
were amended in May.

"We are very pleased by the strong support Teleglobe has received
from the participating banks," said Michael Boychuk, Chief
Financial Officer. "This financing will allow us to accelerate
the buildout of our GlobeSystem(sm) network." GlobeSystem is a
multi-year, multi-billion-dollar strategic initiative which will
increase the capacity of Teleglobe's network 200-fold and which
will provide 160 cities around the world with scalable broadband
service platforms and link them through a seamless data network.

Teleglobe Inc. (NYSE, TSE: TGO) is a leading global provider of
broadband services with the most extensive global Internet
network. Delivering advanced broadband applications to customers
in more than 100 countries -- matching global reach with global
depth -- Teleglobe is the premier communications architecture for
the digital economy. For more information, visit
www.teleglobe.com.

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This news release may contain certain forward-looking statements
that reflect the current views and/or expectations of Teleglobe
with respect to its performance, business and future events. Such
statements are subject to a number of risks, uncertainties and
assumptions. Actual results and events may vary significantly.

For more information, please contact:
Helene Baril                  Philip van Leeuwen
Director, Investor Relations  Director, Corporate Communications
Teleglobe Inc.                Teleglobe Inc.
514-868-8614                  514-868-7400
helene.baril@teleglobe.com    philip.vanleeuwen@teleglobe.com