SOURCE: Global Development & Environmental Resources, Inc.

August 11, 2005 08:05 ET

Global Development & Environmental Resources and Castle Rock Development Sign Services Contract

LAS VEGAS, NV -- (MARKET WIRE) -- August 11, 2005 -- Global Development & Environmental Resources, Inc. (OTC: GDVE) announced today that the Company's Infrastructure Division has signed a multi-million dollar services agreement with Castle Rock Development. The contract involves the use of Global Development's advanced enzyme technology to be used in the development of roads and reservoirs (man-made lakes) throughout the development.

Dr. Philip Pritchard, CEO of Global Development & Environmental Resources, commented on the project, "Castle Rock is a new development located off US Highway 93 and the national NAFTA route between Mexico and Canada. The scope of this particular contract is likely to grow throughout the development of the project. The project is scheduled to begin in October 2005 and last approximately 48 months. The contract has a starting minimum value of approximately $5 million. However, based on experience in similar developments with similar characteristics, I believe that by the time the project reaches completion and all of the not-yet-defined areas have been fully addressed, the total financial commitment to our component of the project will likely be closer to $15 million."

Additional information on Global Development and Environmental Resources can be found at www.gderinc.com. A free, downloadable Investor Fact sheet is available at First Capital Investors' website at www.firstcapitalinvestors.com/factsheets/gdve.pdf.

"SAFE HARBOR"

This press release contains forward-looking statements. The words "estimate," "possible" and "seeking" and similar expressions identify forward-looking statements, which speak only as to the date the statement was made. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted, or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, the effect of government regulation, competition and other material risks.

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