Global Marine Ltd.

Global Marine Ltd.

December 07, 2007 14:58 ET

Global Marine Ltd. To Become Solaris Energy Corporation

Cleantech Energy Solutions for Ecuador

CHARLESTON, SOUTH CAROLINA--(Marketwire - Dec. 7, 2007) - Global Marine Ltd. (PINK SHEETS:GLBM) -

On behalf of the Board of Directors, President Douglas Beatty is pleased to announce that the Corporation is in the process of negotiating exciting solar energy agreements in Guayaquil, Ecuador.

"We are very pleased with the excellent solar energy opportunities that are available now to our company in South America, especially in Ecuador. Ecuador has the most direct solar energy available, due to its proximity along the equator and, through private placements and joint-ventures, we anticipate developing a mutually-beneficial business in that country, offering innovative alternative-energy solutions. We have had substantive discussions with Ecuadorian interests on a number of promising projects and we are hopeful of a speedy and successful outcome to our proposals", said Mr. Beatty. "Our Corporation is focused on the marketing and implementation of solar energy technologies and cleantech energy solutions and in transforming ourselves into a global-reach, clean-technology corporation", he added. "The estimated global clean energy market will grow from EUR 31bn currently to EUR 130 billion by 2015, and we aim to be a major participant through our initial ventures in South and Central America", continued Mr. Beatty.

To better reflect the evolution of its corporate focus to concentrate on solar and wind-generated, and renewable energy projects, Global Marine Ltd. also announces today that its Board of Directors has unanimously decided to change the Company name to Solaris Energy Corporation (Solaris). Subject to the appropriate regulatory approvals from its state of incorporation in Nevada, the name change will be effective upon receipt of all necessary regulatory approvals, and receipt of a new trading symbol from the NASD.

"The name Solaris Energy Corporation better reflects our business objectives of branded growth, in our key market segments, using new "clean age" technologies for solar and wind power generation", stated Mr. Beatty. "On an ongoing basis, we are presented with many exciting business opportunities in both North & South America, all of which hinge upon the development of new, cost-effective technologies for use in energy systems which offer significant environmental benefits. These systems will definitely play an increasingly important role in expansion of the world's solar and wind energy product pool", he added.

About Global Marine Ltd.

Global Marine Ltd is recognized for providing new innovations in the oceanographic & maritime arena through the development of new technologies in energy systems which offer significant environmental benefits. Leading-edge technology and projects are selected that offer the Company and its shareholders exceptional growth opportunities. Global Marine Ltd. is currently focusing on the American, Latin and South American marketplaces, where the company has developed long-term relationships and a substantial client base through vertical growth integration and recognized growth opportunities.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995.

This press release does not constitute an offer to sell or a recommendation to purchase any securities. This press release may contain forward-looking statements, including the company's beliefs about its business prospects and future results of operations. These statements involve risks and uncertainties. Among the important additional factors that could cause actual results to differ materially from those forward-looking statements are risks associated with the overall economic environment, the successful execution of the company's plan of operation, changes in the company's anticipated earnings, continuation of any contracts, changes in other applicable regulations, and other factors that will be detailed in the company's filings with the Securities and Exchange Commission. In addition, the factors underlying any company forecasts are dynamic and subject to change and therefore those forecasts speak only as of the date they are given. The information provided in this press release is provided solely for the reader's general knowledge; it is not intended to be a comprehensive review for all matters and developments concerning the Company.

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