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Sanswire Networks Signs Agreement to Deploy Stratellites in Colombia

Sanswire Networks Signs Agreement to Deploy Stratellites in Colombia
7/14/05
FORT LAUDERDALE, Fla., Jul 14, 2005 (BUSINESS WIRE) --

GlobeTel Communications Corp. (AMEX:GTE) announced today that its wholly-owned subsidiary, Sanswire Networks, LLC has entered into a Joint Venture Agreement to deploy Stratellites throughout the country of Colombia.

The agreement with Florida-based Apogeo Enterprises Corporation calls for a total of five Stratellites to be launched over the Latin American country to build a wireless broadband network that would be the first of its kind in the world. Apogeo plans to invest a total of fifty million dollars ($50,000,000 USD) into the project. Funding would be based on a construction schedule to be set by Sanswire and would be released to Sanswire pursuant to the terms of the Agreement.

Timothy Huff, CEO of Sanswire parent GlobeTel, stated: "This is a wonderful opportunity for Sanswire. It shows that other parties around the world are as excited about the Stratellites as we are and are willing to step up to the plate in order to bring this state-of-the-art technology to their country."

During a recent trip to Colombia, Michael K. Molen, President of Sanswire's Latin American operations, and Jairo Rivera, Vice President of Business Development for Latin America, received strong support for the project from several high ranking government officials including Colombian President, Alvaro Uribe. Molen stated: "We met with the President at the Palace in Bogota and he was very gracious and told us that he would help us in any way that he could to bring this technology to his country."

A Stratellite(TM) is a high-altitude airship that when in place in the stratosphere (approximately 65,000 feet) will provide a stationary platform for transmitting various types of wireless communications services currently transmitted from cell towers and satellites. It is not a balloon or a blimp, but a high-altitude airship with a rigid structure.

The Stratellite is similar to a satellite in concept, but is stationed in the stratosphere rather than in orbit. Existing satellites provide easy "download" capabilities, but because of their high altitude are not practical for commercially viable "two-way" high-speed data communication. The Stratellite will allow subscribers to easily communicate in "both directions" using readily available wireless devices.

About GlobeTel Communications Corp.:

GlobeTel Communications Corp. is a diversified Telecommunications and Financial Services Company. GlobeTel Communications Corp. operates business units in Stored Value debit cards, as a certified MasterCard processor, the sale of Carrier grade VOIP of Long Distance to major Long Distance re-sellers, VOIP Technology and development, and high altitude airship research and development. These self contained business units were developed to operate independently of each other. The symbiotic relationship, however, provides value to each of the other business units. This strategy offers GlobeTel financial diversity and risk mitigation while striving toward its operating objectives.

Operating on a global basis, GlobeTel has, historically, focused its business development on markets outside of the United States. Current operations and business relationships exist in Asia, Europe, South America, Mexico and the Caribbean.

Additional information concerning other areas and topics of GlobeTel Communications Corp. can be found on our web site at http://www.globetel.net.

Certain statements in this release constitute forward-looking statements or statements which may be deemed or construed to be forward-looking statements within the meaning of the Private Litigation Reform Act of 1995. The words "forecast," "project," "intend," "expect," "should," "would," and similar expressions and all statements, which are not historical facts, are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance (finance or operating) or achievements to differ from future results, performance (financing and operating) or achievements expressed or implied by such forward-looking statements. The above are more fully discussed in the Company's SEC filings. GlobeTel and its strategy for launching the Stratellite may vary as conditions and technology changes. There is the possibility that parts of the process may change or be delayed. While GlobeTel plans for the success of the Airship, there is no guarantee that it will achieve any or all of its objectives. Any reference within this release that refers, or implies a forward-looking statement, is herewith incorporated into this Safe Harbor language.

SOURCE: GlobeTel Communications Corp.

GlobeTel Communications Corp., Fort Lauderdale Maria Vasquez, 954-241-0590 investors at globetel.net
Copyright Business Wire 2005

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By ColombianoX on Jul 14, 2005, 18:22 in Friendly Talkzone.

Mr. Hollywood says on Jul 14, 2005, 18:50:

Stratelites! See, Colombia is so strato-conscious that they even get stratolites.

0 funny, 0 helpful.