SOURCE: Global Developments, Inc

December 07, 2006 11:09 ET

GLOBAL INVESTMENT UPDATE: China Career Builder Corp. Announces Completion of Reverse Merger

VANCOUVER, BC -- (MARKET WIRE) -- December 7, 2006 -- Global Developments, Inc. (PINKSHEETS: GBDP), a publicly traded venture capital company, is pleased to provide the following update with respect to China Career Builder Corp., a human resources services company headquartered in Hong Kong, in which Global holds an equity stake.

China Career Builder Corp. (PINKSHEETS: CCBX) announced today that it has completed its reverse merger with Crescott Inc., a publicly traded company incorporated in the state of Delaware, and trading on the over-the-counter Pink Sheets. As a result of the reverse merger, the company changed its name from Crescott Inc. to China Career Builder Corp. and was issued a new trading symbol.

The National Association of Security Dealers (NASD), the regulatory organization responsible for the operation and regulation of the NASDAQ and OTC stock markets, published on November 16, 2006, the name change to China Career Builder Corp. and that it had issued CCBX as its trading symbol.

About China Career Builder Corp.

China Career Builder Corp. is a human resource services company, focused on various industries in Hong Kong and Mainland China. The company provides recruitment services focusing on the professional, management, clerical, administrative, and industrial market in Greater China. Its services include screening, recruiting, training, workforce deployment, loss prevention and safety training, pre-employment testing and assessment, background searches, compensation program design, customized personnel management reports, job profiling, description, application, turnover tracking and analysis, opinion surveys and follow-up analysis, exit interviews and follow-up analysis, and management development skills workshops. The company markets its recruitment services through a combination of direct sales, telemarketing, trade shows, and advertising.

About Global Developments

Global Developments, Inc. is a publicly traded venture capital company. It was formed to create a unique investment vehicle representing a growing portfolio of innovative and emerging growth-oriented companies. Global acquires its portfolio companies either as wholly or partially owned subsidiaries, or as an investment where Global is the lead investor. As a result, Global maintains substantial management and operational control, thereby giving it the ability to provide significant oversight and guidance in building value and creating liquidity events for its shareholders. Global invests in companies with solid management, operational excellence, and the potential to grow substantial revenue streams.

Please visit http://www.globaldevelopmentsinc.com for more information.

Forward-Looking Statements

You should not place undue reliance on forward-looking statements in this press release. This press release contains forward-looking statements that involve risks and uncertainties. Words such as ``will,'' ``anticipates,'' ``believes,'' ``plans,'' ``goal,'' ``expects,'' ``future,'' ``intends,'' and similar expressions are used to identify these forward-looking statements. Actual results could differ materially from those anticipated in these forward-looking statements for many reasons, including the risks we face as described in this press release. For further information about Global Developments, Inc. please refer to its Web site at http://www.globaldevelopmentsinc.com.

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Contact Information

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    Global Developments, Inc.
    Leighton Dean
    (604) 685-7552
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