    [Public Papers of the Presidents of the United States: George W. Bush (2003, Book II)]
    [September 19, 2003]
    [Page 1185]
    [From the U.S. Government Publishing Office www.gpo.gov]

    Letter to Congressional Leaders Transmitting a Report on the Decision on
    Investments by Singapore Technologies Telemedia Pte. Ltd.
    September 19, 2003

    Dear Mr. Speaker:  (Dear Mr. President:)
        Attached is a classified report on my decision to take no action to
    suspend or prohibit the proposed 61.5 percent investment by Singapore
    Technologies Telemedia Pte. Ltd., a company indirectly owned by the
    Government of Singapore, in Global Crossing Ltd. I have taken this
    decision under the authority vested in me as President by section 721 of
    the Defense Production Act of 1950, also known as the ``Exon-Florio''
    provision, 50 U.S.C. App. 2170. This report, prepared by my
    Administration, is submitted consistent with subsection (g) of that
    provision.
             Sincerely,

                                                              George W. Bush

    Note: Identical letters were sent to J. Dennis Hastert, Speaker of the
    House of Representatives, and Richard B. Cheney, President of the
    Senate.