SOURCE: Global Developments, Inc.

December 05, 2006 19:27 ET

GLOBAL INVESTMENT UPDATE: Elysair to undergo name change to l'Avion

VANCOUVER, BC -- (MARKET WIRE) -- December 5, 2006 -- Global Developments, Inc. (PINKSHEETS: GBDP), a publicly traded venture capital company, is pleased to provide the following update with respect to Elysair, a low-cost French airline in which Global holds an equity stake.

Commencing December 27, 2006, Elysair will commence operations under the name l"Avion. L'Avion intends to become the first and only French airline offering low-cost all-business class service on the Paris to New York route. L'Avion will deploy Boeing Performance Enhanced 757-200s with 100-seat business-class only service between Paris (Orly) and Newark, NJ. The carrier intends to fly six weekly flights between Orly and Newark. Please visit http://www.lavion.com for more information.

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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