SOURCE: Global Developments, Inc.

December 19, 2006 11:40 ET

GLOBAL INVESTMENT UPDATE: PetroSun Corporate Update: Muslow #1

VANCOUVER, BC -- (MARKET WIRE) -- December 19, 2006 -- Global Developments, Inc. (PINKSHEETS: GBDP), a publicly traded venture capital company, is pleased to provide the following update with respect to PetroSun Inc., an oil exploration company in which Global holds an equity stake.

PetroSun, Incorporated (PINKSHEETS: PSUD) announced today that Wilcox Operating advised the Company that the Muslow #1 will be drilled to the contract depth of 5,000 feet by the end of December. The Muslow #1 is located in Section 5, Township 20 North, Range 15 West of Caddo Parish, Louisiana. Testing of the well should be completed by mid-January 2007.

The primary objective of the Muslow #1 is the Pettit formation at 4,400 feet. The Rodessa Hill section also produces natural gas and oil in the area adjacent to the 2,961-acre Wilcox Operating Muslow tract.

About PetroSun

PetroSun's current operations are concentrated in the Ark-La-Tex region with plans to expand into New Mexico, Arizona, Utah and Australia in 2007. PetroSun provides a comprehensive array of products and services to the oil industry. Algae BioFuels, a wholly owned subsidiary of PetroSun, is an emerging producer of biodiesel derived from the cultivation of algae. The Company's cutting edge technologies, combined with a proven ability to apply them effectively and safely within a disciplined ROI framework, creates long-term value for PetroSun shareholders and partners. PetroSun is headquartered in Phoenix, Arizona. For more information about PetroSun visit the company's website at

About Global Developments

Global Developments, Inc. is a publicly traded venture capital company. It was formed to create a unique investment vehicle representing a growing portfolio of innovative and emerging growth-oriented companies. Global acquires its portfolio companies either as wholly or partially owned subsidiaries, or as an investment where Global is the lead investor. As a result, Global maintains substantial management and operational control, thereby giving it the ability to provide significant oversight and guidance in building value and creating liquidity events for its shareholders. Global invests in companies with solid management, operational excellence, and the potential to grow substantial revenue streams.

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Forward-Looking Statements

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