[Weekly Compilation of Presidential Documents Volume 39, Number 38 (Monday, September 22, 2003)]
[Page 1248]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
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.