SOURCE: Global Energy Resources, Inc.

February 05, 2007 11:55 ET

Global Energy's Lending Exceeds $10 Million in Mortgages for the Second Consecutive Month

NEWPORT BEACH, CA -- (MARKET WIRE) -- February 5, 2007 -- Global Energy Resources Inc. (PINKSHEETS: GERI), a Delaware Corporation, announced today the lending volume for the second month of its expanded mortgage services. GERI reports, in the month of January 2007, its mortgage lending has exceeded $10 million in funded loans. The Company previously announced $10 Million in lending completed in its full first month of operations in December 2006.

"We continue to be very pleased that the Saddleback acquisition has allowed GERI to expand its lending platform and contribute to the overall loan volume. The December/January lending volume exceeded our initial forecasts and we anticipate with other activities underway, we will continue to grow that sector of our Financial Division," stated Chris Butchko, GERI's president.

GERI's Financial Division offers a mortgage warehouse line utilized by mortgage brokers and certain lending groups to finance their clients' mortgage lending needs. GERI's Finance division also provides wholesale lending services for the commercial, residential, construction and timeshare industries utilizing a warehouse line of credit. In addition, the finance division has marketing arrangements with major banks and mortgage banks to provide high-level customer service and technologies to solve lending needs. The division has recently begun to provide rapid response electronic processing of paperwork associated with its lending service.

About Global Energy Resources Inc.:

Global Energy Resources Inc. is a Delaware corporation with branch offices in Irvine, Calif., New York and Verona, Italy. Global Energy is expanding its business operations specifically in the areas of distribution, finance and energy.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:

The statements contained herein which are not historical are forward-looking statements that are subject to risks and uncertainties that could cause the actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the company's control with respect to market acceptance of new technologies or products, delays in testing and evaluation of products, and other risks detailed from time to time in the company's filings with the Securities and Exchange Commission.

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