SOURCE: Global General Technologies

February 08, 2007 09:59 ET

Global General Technologies Reduces Shares Outstanding by 17% to Enhance Financial Flexibility for Ramping Up Business Plan

Major Shareholder Agreement for Cancellation of Shares Decreases Public Float by 28%

MIAMI, FL -- (MARKET WIRE) -- February 8, 2007 -- Global General Technologies (OTCBB: GLGT), a company which designs, implements and maintains homeland and international security systems with a primary focus on perimeter protection for high value facilities through its wholly owned subsidiary, H7 Security Systems, Inc., announced today that a major shareholder of the company has agreed to the cancellation of 8.34 million shares of the shareholder's position. Global General Technologies' fully diluted shares outstanding has been reduced 17% from 53,043,000 shares outstanding to 44,703,000 million shares outstanding and the public float has been decreased 28% from 27 million shares to 19.5 million shares.

Shmuel Shneibalg, CEO of Global General Technologies, said, "We are gratified by this singular statement of confidence in our business plan by a major shareholder. With the dramatic reduction in both our public float and shares outstanding, we have gained a great deal of financial flexibility to advance our business plan. We have been working on a number of initiatives that will be greatly enhanced by this significant improvement in our capital structure. We look forward to a very successful 2007."

Global General Technologies offers a high quality, durable intelligent surveillance system from multiple manufacturers -- video, sound, seismic and thermal sensors, satellite technology and robotics -- which is integrated into a real-time command and control system. The technologies are packaged with the company's proprietary Intelligent Communication Node technology. With perimeter security becoming an increasing concern, the demand for an affordable, practical, and effective system is growing rapidly.

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About Global General Technologies, Inc.

Global General Technologies, Inc., through its wholly owned subsidiary H 7 Security Systems, Inc., designs, implements and maintains high tech surveillance and warning systems for the prevention of terrorists attacks using its proprietary Intelligent Communication Node (ICN) that configures and analyzes many forms of real time data that permits instantaneous response decisions. The company is focused on the design, implementation and maintenance of homeland security systems internationally with a primary focus on perimeter security of large high value facilities. The company's website is

Information included in this news release contains forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995 ("Reform Act"). Such statements are based on current expectations and involve a number of known and unknown risks and uncertainties that could cause the actual results and performance of the Company to differ materially from any expected future results or performance, expressed or implied, by the forward-looking statements. In connection with the safe harbor provisions of the Reform Act, the Company has identified important factors that could cause actual results to differ materially from such expectations, including operating uncertainties, uncertainties relating to economic issues and competition. Reference is made to all the Company's SEC filings, including the Company's Reports on Forms 10K, 10Q and other periodic reports.

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