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FOR IMMEDIATE RELEASE

           TRADING IN GTS SHARES SUSPENDED ON NEW YORK STOCK EXCHANGE

LONDON - 4 JUNE 2001 - Global TeleSystems, Inc. (GTS) (NYSE: GTS; EASDAQ: GTSG;
Frankfurt: GTS) announced that the New York Stock Exchange (NYSE) has today
informed the Company that trading in GTS shares has been suspended on the NYSE
due to indications of an "abnormally low selling price" for GTS's common stock.
The NYSE also informed the Company that it intends to seek to delist the
Company's shares with the Securities and Exchange Commission. GTS does not
believe that the NYSE's decision is well founded in the Exchange's rules and is
thus immediately appealing the decision. Under NYSE rules, any prospective
delisting would be stayed pending resolution of the Company's appeal. In the
meantime, the Company will apply for immediate quotation of its shares on the
OTC bulletin board.

Robert Amman, GTS's chairman and CEO commented: "The day-to-day operations of
the Company, including Ebone, our core business unit and Europe's leading
provider of optical IP and broadband services, should not be adversely affected
by this development. All relationships with customers, suppliers and employees
will continue in the normal course. In this regard, as of 31 May, the Company
had Euro288 million in consolidated cash, of which Euro50 million was
subsequently used to reduce the outstanding balance of its Euro300 million bank
credit facility to Euro150 million. We also do not expect this development to
interfere materially with our restructuring plans. Upon completion of the
restructuring programme, we will consider various options for the listing of our
shares, including listing on a major bourse in Europe, where our operations are
based."

GTS CONTACTS
GTS INVESTORS
Jim Shields, Vice President, Investor Relations and Corporate Treasurer
Tel: +44(0)-207-769-8264; Fax: +44(0)-207-769-8068; Email: jim.shields@gts.com

Patti Kelly, Senior Manager, Investor Relations
Tel: +1-703-258-3470; Fax: +1-703-258-3402; Email: patti.kelly@gts.com

GTS MEDIA
Glenn Manoff, Vice President, Communications
Tel: +44-(0)-207-769-8290; Fax: +44-(0)-207-769-8084; Email:
glenn.manoff@gts.com

THIS PRESS RELEASE MAY INCLUDE FORWARD-LOOKING STATEMENTS THAT INVOLVE RISK AND
UNCERTAINTY. ALTHOUGH THE COMPANY BELIEVES ITS EXPECTATIONS REFLECTED IN SUCH
FORWARD-LOOKING STATEMENTS ARE BASED ON REASONABLE ASSUMPTIONS, NO ASSURANCE CAN
BE GIVEN THAT SUCH PROJECTIONS WILL BE FULFILLED. ANY SUCH FORWARD-LOOKING
STATEMENT MUST BE CONSIDERED ALONG WITH KNOWLEDGE THAT ACTUAL EVENTS OR RESULTS
MAY VARY MATERIALLY FROM SUCH PREDICTIONS DUE TO, AMONG OTHER THINGS, POLITICAL,
ECONOMIC OR LEGAL CHANGES IN THE MARKETS IN WHICH GTS DOES BUSINESS, COMPETITIVE
DEVELOPMENTS OR RISKS INHERENT IN THE COMPANY'S BUSINESS PLAN. READERS ARE
REFERRED TO THE DOCUMENTS FILED BY GTS WITH THE U.S. SECURITIES AND EXCHANGE
COMMISSION, SPECIFICALLY THE MOST RECENT REPORTS FILED UNDER THE SECURITIES
EXCHANGE ACT OF 1934 AND REGISTRATION STATEMENTS FILED PURSUANT TO THE
SECURITIES ACT OF 1933, WHICH IDENTIFY IMPORTANT RISK FACTORS.