X0202 4 2004-05-31 0 0001278739 TELEGLOBE INTERNATIONAL HOLDINGS LTD TLGB 0001097280 CYR LEO J C/O TELEGLOBE INTERNATIONAL HOLDINGS LTD P.O. BOX HM 1154, 10 QUEEN STREET HAMILTON D0 HM EX 1 0 0 0 Stock Option (right to buy) 12.60 2004-05-31 4 A 0 12500 A 2013-08-06 Common Shares 12500 12500 D This option, which provides for vesting in four equal annual installments beginning August 6, 2004, was issued by Teleglobe International Holdings Ltd in the merger (as described below) in exchange for an option to purchase 50,000 shares of ITXC Corp. common stock. Pursuant to the Agreement and Plan of Merger among Teleglobe International Holdings Ltd, Vex Merger Subsidiary Corp. and ITXC Corp., dated as of November 4, 2003, as amended, upon the consummation of the merger described in that agreement (which occurred on May 31, 2004), the Reporting Person became entitled to receive an option for 0.25 common shares of Teleglobe International Holdings Ltd for each option of ITXC Corp. held by the Reporting Person, in a transaction exempt from Section 16(b) of the Securities Exchange Act of 1934 pursuant to Rule 16b-3 promulgated by the Securities and Exchange Commission. /s/ Peter H. Ehrenberg, Esq., Attorney-in-Fact 2004-06-01