GC-Global Capital Corp.
TSX VENTURE : GDE.A

GC-Global Capital Corp.

April 22, 2008 09:30 ET

Global Capital Announces Its Client Company Homeland Energy Group Has Sold a 5% Interest in Its Subsidiary to GMR Energy of Bangalore, India, Valuing Homeland's Subsidiary at US$310 Million

TORONTO, ONTARIO--(Marketwire - April 22, 2008) - GC-Global Capital Corp. (TSX VENTURE:GDE.A) ("Global Capital") is pleased to announce that its client company, Homeland Energy Group Ltd. (TSX:HEG) ("Homeland") has completed the sale of five percent (5%) of its South African subsidiary, Homeland Mining and Energy SA (Pty) Ltd ("Homeland South Africa") to GMR Energy Limited ("GMR Group") of Bangalore, India for a cash payment to Homeland of US$15 million. GMR Group maintains options to acquire an additional 5% and 40% of Homeland South Africa valuing the Company's subsidiary at US$310 million. If all three options are exercised by September 2, 2008, Homeland Energy will receive a total of US$155 million for the sale of 50% of Homeland South Africa. The sale to GMR Group incorporates the projects and properties held within Homeland's South African subsidiary, including the Kendal Mine, Eloff coal mining project, the Northfield site reclamation project as well as exploration projects in South Africa. The transaction excludes Homeland Energy's corporate interests in Homeland Uranium, Altona Resources and other projects under consideration in southern Africa and elsewhere.

In June of 2007, Global Capital provided US$2,000,000 to Homeland through a secured convertible debenture. In late February of this year, Global Capital converted its debenture into 3,241,000 common shares (post share-split) of Homeland Energy Group Ltd. The average cost per share equates to CDN$0.61 per common share.

Further details about the Homeland transaction can be found at the company's corporate website www.homelandenergygroup.com.

About Homeland Energy Group Ltd.:

Homeland Energy Group Ltd. is a public company trading on the Toronto Stock Exchange under the symbol "HEG" focused on energy exploration and development in Southern Africa. Homeland owns three advanced development and pre-development coal projects in South Africa and a number of early-stage exploration properties in the provinces of Mpumalanga and Kwa-Zulu Natal. Homeland is also a significant shareholder in Homeland Uranium Inc., a Canadian uranium exploration and development company focused on projects in Niger and the United States, and has a several other global strategic investments. Homeland Energy Group Ltd. began trading on the Toronto Stock Exchange on March 5, 2008 and has 146,041,117 common shares issued and outstanding. For more information, please refer to the corporate website at www.homelandenergygroup.com

About GMR Group:

GMR Group is a Bangalore headquartered global infrastructure group with interests in Airports, Energy, Highways and Urban infrastructure as well as in the manufacturing sector, spanning the Agri-business including Sugar and Ferro alloys. GMR Group is one of the fastest growing infrastructure organizations in India. Employing the Public Private Partnership model, the GMR Group has successfully implemented several infrastructure projects in India. With completion of the development of India's newest airport in Hyderabad, and the Delhi International Airport project well underway, GMR Group has established itself as a frontrunner and pioneer in the core infrastructure areas of the country. GMR Group's subsidiary, GMR Infrastructure Limited ("GIL"), is a Bombay- listed publicly traded company with a market capitalization in excess of US$6 billion.

About GC-Global Capital Corp.:

Global Capital is a merchant bank, which provides bridge loan services (asset back/collateralized financing), to companies across many industries such as oil & gas, mining, real estate, manufacturing, retail, financial services, technology and biotechnology.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release

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