eGlobe Files Voluntary Chapter 11 Petition

Apr 18, 2001, 01:00 ET from eGlobe, Inc.

    WASHINGTON, April 18 /PRNewswire/ -- eGlobe, Inc.
 (OTC Bulletin Board:   EGLO) today announced that it has filed a voluntary
 petition for relief, for itself and 16 U.S. subsidiaries, under Chapter 11 of
 the United States Bankruptcy Code with the United States Bankruptcy Court for
 the District of Delaware in Wilmington, Delaware.  The Company's operations
 outside the U.S. are not included in the petition.
     During this process, eGlobe plans to continue operating its Latin American
 IP and satellite business, its VOIP and enhanced service operations in the
 Asia Pacific region, its OASIS call center and its Vogo networks business.
 eGlobe has arranged for debtor in possession financing, which it believes will
 allow it to continue to explore strategic alternatives with respect to its
 business and properties.
 
     About eGlobe
     eGlobe is a  global provider of enhanced Internet services for the world's
 telephone companies and Internet Service Providers.  eGlobe's services
 include:  Voice over IP, voice portal, unified messaging services and customer
 support.  eGlobe provides its services principally to large national telephone
 companies, to ISPs and portals.
 
     Certain statements in this news release are "forward looking statements"
 within the meaning of the Private Securities Litigation Reform Act of 1995 and
 involve known and unknown risks, uncertainties and other factors that may
 cause the Company's actual results, performance or achievements to be
 materially different from the results, performance or achievements expressed
 or implied by the forward looking statement. Forward-looking statements are
 identified by the use of such terminology as "believes," "expects," "may,"
 "will," "should," "anticipates," "plans," "estimates," and "intends" or
 derivations or negatives thereof or comparable terminology.  Accordingly, such
 statements involve risks (known and unknown) and uncertainties. These risks
 and uncertainties include the Company's ability to timely and fully complete
 its plan of reorganization, which in turn will depend on a multitude of
 factors, including the timely approval of the plan by the bankruptcy court and
 affected parties, the availability of sufficient capital to fund the Company's
 operations during the bankruptcy proceedings and the continued willingness of
 the Company's customers, vendors and employees to maintain their relationships
 with the Company during this period.  The Company undertakes no obligation to
 update or advise upon any such forward-looking statement.
 
 

SOURCE eGlobe, Inc.
    WASHINGTON, April 18 /PRNewswire/ -- eGlobe, Inc.
 (OTC Bulletin Board:   EGLO) today announced that it has filed a voluntary
 petition for relief, for itself and 16 U.S. subsidiaries, under Chapter 11 of
 the United States Bankruptcy Code with the United States Bankruptcy Court for
 the District of Delaware in Wilmington, Delaware.  The Company's operations
 outside the U.S. are not included in the petition.
     During this process, eGlobe plans to continue operating its Latin American
 IP and satellite business, its VOIP and enhanced service operations in the
 Asia Pacific region, its OASIS call center and its Vogo networks business.
 eGlobe has arranged for debtor in possession financing, which it believes will
 allow it to continue to explore strategic alternatives with respect to its
 business and properties.
 
     About eGlobe
     eGlobe is a  global provider of enhanced Internet services for the world's
 telephone companies and Internet Service Providers.  eGlobe's services
 include:  Voice over IP, voice portal, unified messaging services and customer
 support.  eGlobe provides its services principally to large national telephone
 companies, to ISPs and portals.
 
     Certain statements in this news release are "forward looking statements"
 within the meaning of the Private Securities Litigation Reform Act of 1995 and
 involve known and unknown risks, uncertainties and other factors that may
 cause the Company's actual results, performance or achievements to be
 materially different from the results, performance or achievements expressed
 or implied by the forward looking statement. Forward-looking statements are
 identified by the use of such terminology as "believes," "expects," "may,"
 "will," "should," "anticipates," "plans," "estimates," and "intends" or
 derivations or negatives thereof or comparable terminology.  Accordingly, such
 statements involve risks (known and unknown) and uncertainties. These risks
 and uncertainties include the Company's ability to timely and fully complete
 its plan of reorganization, which in turn will depend on a multitude of
 factors, including the timely approval of the plan by the bankruptcy court and
 affected parties, the availability of sufficient capital to fund the Company's
 operations during the bankruptcy proceedings and the continued willingness of
 the Company's customers, vendors and employees to maintain their relationships
 with the Company during this period.  The Company undertakes no obligation to
 update or advise upon any such forward-looking statement.
 
 SOURCE  eGlobe, Inc.