-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 MXNRi7KNDk54cGb4qORHNWzz8YdMwBsp5vXxIortXjqGErn2MdiWdDQ4f3CCyE6M
 VQFoAhunRmOI6spO2k898g==

<SEC-DOCUMENT>0001181431-04-059551.txt : 20041217
<SEC-HEADER>0001181431-04-059551.hdr.sgml : 20041217
<ACCEPTANCE-DATETIME>20041217132427
ACCESSION NUMBER:		0001181431-04-059551
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20041215
FILED AS OF DATE:		20041217
DATE AS OF CHANGE:		20041217

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			RIOS JOSE ANTONIO
		CENTRAL INDEX KEY:			0001243322

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-16201
		FILM NUMBER:		041210715

	BUSINESS ADDRESS:	
		STREET 1:		C/O GLOBAL CROSSING
		STREET 2:		200 PARK AVENUE
		CITY:			FLORHAM PARK
		STATE:			NJ
		ZIP:			07932
		BUSINESS PHONE:		9739379248

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GLOBAL CROSSING LTD
		CENTRAL INDEX KEY:			0001061322
		STANDARD INDUSTRIAL CLASSIFICATION:	TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813]
		IRS NUMBER:				980189783
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		WESSEX HOUSE 45 REID ST
		STREET 2:		HAMILTON HM12
		CITY:			BERMUDA
		STATE:			D0
		ZIP:			HM12
		BUSINESS PHONE:		4412968600

	MAIL ADDRESS:	
		STREET 1:		WESSEX HOUSE 45 REID STREET
		STREET 2:		HAMILTON HM12
		CITY:			BERMUDA
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd61825.xml
<DESCRIPTION>4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2004-12-15</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001061322</issuerCik>
        <issuerName>GLOBAL CROSSING LTD</issuerName>
        <issuerTradingSymbol>GLBC</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001243322</rptOwnerCik>
            <rptOwnerName>RIOS JOSE ANTONIO</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>GLOBAL CROSSING LIMITED</rptOwnerStreet1>
            <rptOwnerStreet2>200 PARK AVENUE</rptOwnerStreet2>
            <rptOwnerCity>FLORHAM PARK</rptOwnerCity>
            <rptOwnerState>NJ</rptOwnerState>
            <rptOwnerZipCode>07932</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Int'l Pres. and CAO</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Employee Stock Option (Right to Buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>15.39</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2004-12-15</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>22000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2005-12-15</value>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <value>2014-12-15</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>22000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>22000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Options vest in three equal annual installments beginning on the date listed.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>David Sheffey, Attorney-in-fact for Mr. Rios</signatureName>
        <signatureDate>2004-12-17</signatureDate>
    </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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