EXHIBIT 10.67





                        [FACE OF SECURITY]

THE SECURITIES EVIDENCED HEREBY HAVE NOT BEEN REGISTERED UNDER THE
UNITED STATES SECURITIES ACT OF 1933 (THE "SECURITIES ACT") AND MAY NOT BE
OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT (A)(1) TO A PERSON
WHOM THE TRANSFEROR REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER
WITHIN THE MEANING OF RULE 144A UNDER THE SECURITIES ACT ACQUIRING FOR ITS
OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER IN A
TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, (2) IN AN OFFSHORE
TRANSACTION COMPLYING WITH RULE 903 OR RULE 904 OF REGULATION S UNDER THE
SECURITIES ACT, (3) TO AN INSTITUTIONAL ACCREDITED INVESTOR (AS DEFINED IN
RULE 501(A)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT)
IN A TRANSACTION EXEMPT FROM THE REGISTRATION REQUIREMENTS OF THE
SECURITIES ACT, (4) PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE
SECURITIES ACT PROVIDED BY RULE 144 THEREUNDER (IF AVAILABLE), OR (5)
PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT
AND (B) IN ACCORDANCE WITH ALL APPLICABLE SECURITIES LAWS OF THE STATES OF
THE UNITED STATES AND OTHER JURISDICTIONS.

THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE
INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A
DEPOSITARY OR A NOMINEE THEREOF.  THIS SECURITY MAY NOT BE EXCHANGED IN
WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS
SECURITY IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON
OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED
CIRCUMSTANCES DESCRIBED IN THE INDENTURE.

UNLESS THIS SECURITY IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF
THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO THE
ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND
ANY SECURITY ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH
OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY
PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE
HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS
THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.




                           EXODUS COMMUNICATIONS, INC.


                           11 1/4% Senior Notes due 2008

                               CUSIP No. 302088AA7



No. __________  $________

Exodus Communications, Inc., a corporation duly organized and
existing under the laws of Delaware (herein called the "Issuer", which
term includes any successor Person under the Indenture hereinafter
referred to), for value received, hereby promise to pay to
__________________, or registered assigns, the principal sum of
_____________________ Dollars (such amount the "principal amount" of this
Security), or such other principal amount (which, when taken together with
the principal amounts of all other Outstanding Securities, shall not
exceed $75,000,000 in the aggregate at any time) as may be set forth in
the records of the Trustee as referred to in accordance with the
Indenture, on July 1, 2008 and to pay interest thereon from June 22, 1999
or from the most recent Interest Payment Date to which interest has been
paid or duly provided for, payable in arrears semi-annually on January 1
and July 1 in each year, commencing July 1, 1999 at the rate of 11 1/4% per
annum, until the principal hereof is paid or made available for payment.
The interest so payable, and punctually paid or duly provided for, on any
Interest Payment Date will, as provided in such Indenture, be paid to the
Person in whose name this Security (or one or more Predecessor Securities)
is registered at the close of business on the Regular Record Date for such
interest, which shall be the June 15 or December 15 (whether or not a
Business Day), as the case may be, next preceding such Interest Payment
Date; provided that the Regular Record Date for the Interest Payment Date
on July 1, 1999 shall be June 22, 1999.  Any such interest not so
punctually paid or duly provided for will forthwith cease to be payable to
the Holder on the relevant Regular Record Date and may either be paid to
the Person in whose name this Security (or one or more Predecessor
Securities) is registered at the close of business on a Special Record
Date for the payment of such Defaulted Interest to be fixed by the Trustee
in accordance with Section 308 of the Indenture, notice whereof shall be
given to Holders of Securities not less than 10 days prior to such Special
Record Date, or be paid at any time in any other lawful manner not
inconsistent with the requirements of any securities exchange on which the
Securities may be listed, and upon such notice as may be required by such
exchange, all as more fully provided in said Indenture.  Interest on this
Security shall be computed on the basis set forth in the Indenture.

Payment of the principal of (and premium, if any) and any such
interest on this Security will be made at the office or agency of the
Issuer in the Borough of Manhattan, The City of New York, New York,
maintained for such purpose and at any other office or agency maintained
by the Issuer for such purpose, in such coin or currency of the United
States of America as at the time of payment is legal tender for payment of
public and private debts; provided, however, that at the option of the
Issuer payment of interest may be made by check mailed to the address of
the Person entitled thereto as such address shall appear in the Security
Register; provided further that all payments of the principal (and
premium, if any) and interest on Securities, the Holders of which hold
more than $5.0 million in principal amount and have given wire transfer
instructions to the Issuer or its agent at least 10 Business Days prior to
the applicable payment date, will be required to be made by wire transfer
of immediately available funds to the accounts specified by such Holders
in such instructions.

Reference is hereby made to the further provisions of this Security
set forth on the reverse hereof, which further provisions shall for all
purposes have the same effect as if set forth at this place.

Unless the certificate of authentication hereon has been executed by
the Trustee referred to on the reverse hereof by manual signature, this
Security shall not be entitled to any benefit under the Indenture or be
valid or obligatory for any purpose.

IN WITNESS WHEREOF, the Issuer has caused this instrument to be duly
executed.


                                   EXODUS COMMUNICATIONS, INC.


                                   By:  /s/ Ellen M.  Hancock

                                   Name:  Ellen M. Hancock
                                   Title:    President and Chief Executive
                                             Officer



                                   Attest:  /s/ Adam W. Wegner

                                   Name:  Adam W. Wegner
                                   Title:    Secretary


TRUSTEE'S CERTIFICATE OF AUTHENTICATION

This is one of the Securities referred to in the within-mentioned
Indenture.

Dated:  June 22, 1999


Chase Manhattan Bank and Trust Company,
National Association,
as Trustee


By: /s/ Cecil D. Bobey

Authorized Signatory


                                                      [REVERSE OF SECURITY]

This Security is one of a duly authorized issue of Securities of the
Issuer designated as its 11 1/4% Senior Notes due 2008 (herein called the
"Securities"), issued and to be issued under an Indenture, dated as of
July 1, 1998 (herein called the "Indenture", which term shall have the
meaning assigned to it in such instrument), among the Issuer and Chase
Manhattan Bank and Trust Company, National Association, as Trustee (herein
called the "Trustee", which term includes any successor trustee under the
Indenture), to which Indenture and all indentures supplemental thereto
reference is hereby made for a statement of the respective rights,
limitations of rights, duties and immunities thereunder of the Issuer, the
Trustee and the Holders of the Securities and of the terms upon which the
Securities are, and are to be, authenticated and delivered.

Prior to or concurrently with the issuance of this Security, the
Issuer shall have deposited funds with the Escrow Agent in the Escrow
Account held by the Escrow Agent for the benefit of the holders in
accordance with an Escrow Agreement.  The funds in the Escrow Account will
be sufficient to pay, when due, the first four semi-annual interest
payments on all Securities.  The Escrow Agreement will provide, among
other things, that funds may be disbursed from the Escrow Account for
interest payments the Issuer makes on the Securities.  The Escrow Agent
will be instructed to cause all funds in the Escrow Account to be
invested, pending disbursement, in U.S. Government Securities.

The Securities are subject to redemption, at the option of the
Issuer, in whole or in part, at any time on or after July 1, 2003 and
prior to maturity, upon not less than 30 nor more than 60 days' notice
mailed to each Holder of Securities to be redeemed at such Holder's
address appearing in the Security Register, in amounts of $1,000 or an
integral multiple of $1,000, at the following Redemption Prices (expressed
as percentages of the principal amount) plus accrued and unpaid interest
and Liquidated Damages, if any, to but excluding the Redemption Date
(subject to the right of Holders of record on the immediately preceding
Record Date to receive interest due on an Interest Payment Date that is on
or prior to the Redemption Date), if redeemed during the 12-month period
beginning July 1 of the years indicated below:


                                              Redemption
   Year                                          Price


   2003 .....................................    105.625%
   2004 .....................................    103.750%
   2005 .....................................    101.875%
   2006 and thereafter.......................    100.000%

In addition, at any time prior to July 1, 2001, the Issuer may
redeem up to 35% of the aggregate Outstanding principal amount of the
Securities with the Net Cash Proceeds of one or more sales of Capital
Stock (other than Disqualified Stock) at a Redemption Price equal to
111.25% of the aggregate principal amount thereof, plus accrued and unpaid
interest thereon and Liquidated Damages, if any, to the date of
redemption; provided that at least 65% of the original principal amount of
the Securities remains Outstanding immediately following such redemption.
 In order to effect the foregoing redemption, the Issuer must mail a
notice of redemption no later than 45 days after the related sale of
Capital Stock and must consummate such redemption within 60 days of the
closing of the sale of Capital Stock.

The Securities do not have the benefit of any sinking fund
obligations.

In the event of redemption or purchase pursuant to an Offer to
Purchase of this Security in part only, a new Security or Securities for
the unredeemed or unpurchased portion hereof will be issued in the name of
the Holder hereof upon the cancellation hereof.

If an Event of Default shall occur and be continuing, there may be
declared due and payable the principal amount of (together with accrued
and unpaid interest on) the Securities, in the manner and with the effect
provided in the Indenture.

The Holder of this Security (and any Person that has a beneficial
interest in this Security) is entitled to the benefits of an Exchange and
Registration Rights Agreement, dated as of July 1, 1998, and as the same
may be amended from time to time (the "Exchange and Registration Rights
Agreement"), executed by the Issuer.  The Exchange and Registration Rights
Agreement provides that Liquidated Damages will be payable by the Issuer
on the Securities for specified periods if the Issuer does not comply with
certain of its obligations thereunder. Issuer agrees to pay Liquidated
Damages, if any, accruing on this Security.

The Indenture provides that, subject to certain conditions, if (i)
certain Net Cash Proceeds are available to the Issuer as a result of an
Asset Sale or (ii) a Change of Control occurs, the Issuer shall be
required to make an Offer to Purchase for all or a specified portion of
the Securities.


The Indenture permits, with certain exceptions as therein provided,
the amendment thereof and the modification of the rights and obligations
of the Issuer and the rights of the Holders of the Securities under the
Indenture at any time by the Issuer and the Trustee with the consent of
the Holders of a majority in aggregate principal amount of the Securities
at the time Outstanding.  The Indenture also contains provisions
permitting the Holders of specified percentages in aggregate principal
amount of the Securities at the time Outstanding, on behalf of the Holders
of all the Securities, to waive compliance by the Issuer with certain
provisions of the Indenture and certain past defaults under the Indenture
and its consequences.  Any such consent or waiver by the Holder of this
Security shall be conclusive and binding upon such Holder and upon all
future Holders of this Security and of any Security issued upon the
registration of transfer hereof or in exchange herefor or in lieu hereof,
whether or not notation of such consent or waiver is made upon this
Security.

As provided in and subject to the provisions of the Indenture, the
Holder of this Security shall not have the right to institute any
proceeding with respect to the Indenture or for the appointment of a
receiver or trustee or for any other remedy thereunder, unless such Holder
shall have previously given the Trustee written notice of a continuing
Event of Default with respect to the Securities, the Holders of not less
than 25% in principal amount of the Securities at the time Outstanding
shall have made written request to the Trustee to institute proceedings in
respect of such Event of Default as Trustee and offered the Trustee
reasonable indemnity and the Trustee shall not have received from the
Holders of a majority in principal amount of Securities at the time
Outstanding a direction inconsistent with such request and shall have
failed to institute any such proceeding for 60 days after receipt of such
notice, request and offer of indemnity.  The foregoing shall not apply to
certain suits described in the Indenture, including any suit instituted by
the Holder of this Security for the enforcement of any payment of
principal hereof or any premium or interest hereon on or after the
respective due dates expressed herein (or, in the case of redemption, on
or after the Redemption Date or, in the case of any purchase of this
Security required to be made pursuant to an Offer to Purchase, on the
Purchase Date).

No reference herein to the Indenture and no provision of this
Security or of the Indenture shall alter or impair the obligation of the
Issuer, which is absolute and unconditional, to pay the principal of (and
premium, if any) and interest on this Security at the times, place and
rate, and in the coin or currency, herein prescribed.

As provided in the Indenture and subject to certain limitations
therein set forth, the transfer of this Security is registrable in the
Security Register, upon surrender of this Security for registration of
transfer at the office or agency of the Issuer in the Borough of
Manhattan, The City of New York, duly endorsed by, or accompanied by a
written instrument of transfer in form satisfactory to the Issuer and the
Security Registrar duly executed by, the Holder hereof or his attorney
duly authorized in writing, and thereupon one or more new Securities, of
authorized denominations and for the same aggregate principal amount, will
be issued to the designated transferee or transferees.

The Securities are issuable only in registered form without coupons
in denominations of $1,000 and any integral multiple thereof.  As provided
in the Indenture and subject to certain limitations therein set forth,
Securities are exchangeable for a like aggregate principal amount of
Securities of a different authorized denomination, as requested by the
Holder surrendering the same.

No service charge shall be made for any such registration of
transfer or exchange, but the Issuer may require payment of a sum
sufficient to cover any tax or other governmental charge payable in
connection therewith.


Prior to due presentment of this Security for registration of
transfer, the Issuer, the Trustee and any agent of the Issuer or the
Trustee may treat the Person in whose name this Security is registered as
the owner hereof for all purposes, whether or not this Security be
overdue, and neither the Issuer, the Trustee nor any such agent shall be
affected by notice to the contrary.

Interest on this Security shall be computed on the basis of a
360-day year of twelve 30-day months.

All terms used in this Security which are defined in the Indenture
shall have the meanings assigned to them in the Indenture.

The Indenture and this Security shall be governed by and construed
in accordance with the laws of the State of New York.



                  OPTION OF HOLDER TO ELECT PURCHASE

If you want to elect to have this Security purchased in its entirety
by the Issuer pursuant to Section 1015 or 1016 of the Indenture, check the
box:

[_]

If you want to elect to have only a part of this Security purchased
by the Issuer pursuant to Section 1015 or 1016 of the Indenture, state the
amount:

$_____________

Dated:          Your Signature:

                 (Sign exactly as name appears on the other side of
                  this Security)

                 Signature Guarantee:

                 (Signature must be guaranteed by an eligible
                  Guarantor Institution (banks, stockbrokers,
                  savings and loan associations and credit
                  unions) with membership in an approved
                  signature medallion program pursuant to
                  Securities and Exchange Commission Rule 17Ad-15.)