SOURCE: Global Development

August 17, 2005 15:42 ET

Global Development & Environmental Resources Comments on Unusual Trading Activity

LAS VEGAS, NV -- (MARKET WIRE) -- August 17, 2005 -- Global Development & Environmental Resources, Inc. (OTC: GDVE) has been made aware that the Company has been made the subject of a negative commentary on an Internet board called Stocklemon.com. Global Development & Environmental Resources, Inc. wants to clarify that it has no relationship with Stocklemon.com, nor has any representative of Stocklemon.com spoken with management at the Company.

Global Development's CEO, Dr. Phil Pritchard, commented on the situation, "I have been contacted by a number of investors today regarding the unusual trading of our stock in what appears to be short selling of our common stock. While we do not comment on the intraday trading of our stock, we would like to reiterate to our shareholders that our business continues to grow and nothing has changed from a fundamental perspective. Our current backlog of contracts is now in excess of $80 million and we are working on a number of additional projects that could fuel even more future growth."

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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