SOURCE: Global Development & Environmental Resources, Inc.

August 17, 2005 07:05 ET

Global Development & Environmental Resources Visiting With Officials in Ecuador Regarding Large-Scale Environmental Cleanup

LAS VEGAS, NV -- (MARKET WIRE) -- August 17, 2005 -- Global Development & Environmental Resources, Inc. (OTC: GDVE) announced today that representatives from the Company are currently meeting with key Ecuadorian officials in Ecuador's northern Amazon border of Lago Agrio. The purpose of the visit is to finalize the terms and sign a letter of engagement that will retain the Company on certain scopes of implementation for a cleanup program of petroleum contamination issues that currently exist in the region. This area of rainforest is an environmentally sensitive area of the Amazon and has been the subject of heated discussions in courtrooms throughout Ecuador and the United States.

At stake is an estimated $6.15 billion dollar cleanup of over 350 ponds that have been contaminated with oil and a cancer-causing chemical scattered across a 31 mile by 62 mile area by major petroleum companies. Part of the agreement revolves around the implementation of remediation services for numerous swamps and streams that contain thin layers of oil in an effort to improve health issues impacting animal life in the region and the surrounding human population.

Ecuadorian officials have requested Global Development & Environmental Resources to consider using its cost-effective, proprietary in-situ technology to remediate these ponds and contaminated soils that currently exist in the affected area. Based upon current expectations, it is anticipated that work will begin October 1, 2005.

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.

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