SOURCE: Global Development & Environmental Resources, Inc.

August 01, 2005 08:05 ET

Global Development & Environmental Resources Issues Letter to Shareholders

LAS VEGAS, NV -- (MARKET WIRE) -- August 1, 2005 -- Global Development & Environmental Resources, Inc. (OTC: GDVE) released a letter to shareholders today.

Investors:

It is with a great sense of excitement that I communicate with you in this letter to shareholders. Upon our entrance into the public markets last week, we opened a new chapter in the story of our company. We look forward to having a positive relationship with our shareholders and commit to providing available information on a timely basis.

Our Business

For investors new to the company, our firm is comprised of 3 primary divisions: Professional Services, Product & Technologies & Financial Services. The Professional Services division focuses on environmental assessments, investigations and cleanups. Our Product & Technologies group develops environmental friendly products that can be used for numerous environmental applications. The Financial Services division works both internally and with outside clients in the areas of Acquisition, Divestiture and Valuation of environmentally sensitive real estate projects. A much more detailed description of our operational divisions can be reviewed on our corporate fact sheet. This investor tool is available free of charge at www.firstcapitalinvestors.com/factsheets/gdve.pdf.

As we continue to grow our business, we are focused on adding value to our corporate structure in a number of ways. We have geographically expanded our operational footprint to include 5 domestic office locations including: Las Vegas (NV), Rockford (IL), Long Island (NY), Miami (FL) and Atlanta (GA). We have also expanded internationally and have facilities in 4 foreign countries including: China, South Vietnam, Chile and Italy.

We continue to experience positive contract growth and have over $67 million in our current projects backlog. We are currently in negotiations on over $80 million of additional projects, on which we hope to experience a high percentage of capture.

As a method to capture additional profitability that is built in to the projects on which we work, we have begun to significantly expand our equipment assets, with additional future purchases planned. This additional equipment investment will allow our company to provide more turnkey operations to clients and avoid subcontracting those areas that we maintain in-house capabilities. The ability to keep these dollars within the corporate structure results in better profitability to corporation overall.

The environmental industry represents a multi-billion dollar industry that is global in scale. I believe that our company has an excellent opportunity to become a significant force within both the U.S. and International marketplaces. Typical environmental firms are small and localized to their geographical region. Some of these firms represent future acquisition targets for our company. We have already begun identifying potential acquisition candidates and look forward to expanding our operation both internally as well as through strategic acquisitions. All environmental companies are not small. There are large environmental companies that we compete with as well.

For instance, Halliburton is a prime example of a multi-national competitor that competes with our company for projects issued by the U.S. Government. As most investors are aware, Halliburton has been awarded numerous projects dealing with the oil field cleanups in Iraq and Kuwait. What most don't realize is that Halliburton is both a competitor, as well as a client. Our company has obtained U.S. rights to a new environmentally safe enzyme clean-up product. On projects that require our proprietary, environmentally friendly enzyme clean-up products, Halliburton (and other competitors as well) must purchase their enzymes from Global Development & Environmental Resources.

Financial

We will begin the audits of our financial statements this quarter and will be working to become fully reporting on a timely basis. In conjunction to becoming a SEC reporting company, when we complete our financial and regulatory filings, we will also submit to move the trading of our common stock to the NASD OTC Bulletin Board. At such future time that we meet the more stringent criteria of listing on a more senior exchange such as the NYSE, AMEX or NASDAQ Stock Market, it is our current plan to make an application for trading on the chosen exchange.

Note to the Financial Community

We have received a number of inquiries from financial professionals about potential investment opportunities and from securities analysts regarding coverage of GDVE stock. Investors and brokers interested in purchasing stock can do so through most brokerage companies. Our stock trades under the ticker symbol GDVE.

For analysts looking to begin coverage of the company, please contact our Capital Markets Advisors, First Capital Investors. We are happy to provide licensed financial professionals with interviews and any information that we are allowed to distribute in order for you to provide the most accurate information to your clients.

I believe that our company is still in a very early growth stage of our business life cycle. We have only just begun to scratch the surface of our potential. Our management team is very experienced and well-recognized within numerous areas of our industry. As shareholders ourselves, our management team is committed to creating value throughout the organization. I look forward to the opportunities ahead and welcome new investors to our growing family.

Sincerely,

Philip Pritchard

CEO

"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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