SOURCE: Global Developments, Inc

February 05, 2007 09:05 ET

GLOBAL INVESTMENT UPDATE: Viva/Flight Test Associates Agree to Extend Time to Complete Acquisition

VANCOUVER, BC -- (MARKET WIRE) -- February 5, 2007 --

Vancouver, February 5, 2007 - Global Developments, Inc. (PINKSHEETS: GDVM), a publicly traded venture capital company, is pleased to provide the following update with respect to Viva International Inc., an airline development and aviation supply company, in which Global holds an equity stake.

TRAVERSE CITY, MI--(MARKET WIRE)--Jan 31, 2007 -- Viva International, Inc. (OTC BB:VIVI.OB - News) announced today that its plans to acquire the assets and business operations of Flight Test Associates, LLC of Tucson, Arizona in a transaction that will result in Viva issuing an 8% secured subordinated promissory note for $2 million have been extended pursuant to an agreed letter of intent that was mutually executed by Viva and Flight Test on January 30, 2007. The agreement that was originally scheduled for completion and closing on December 31, 2006 is now scheduled to be completed on or before March 31, 2007.

Flight Test Associates, LLC (FTA) was organized in 2001 to meet demands created by a government requirement to modify A-37s for airborne intercept in Peru & Columbia. Currently, FTA develops prototype systems, performs systems integration and manned and unmanned aircraft modifications, as well as flight test and flight operations support services. In recent years, FTA has concentrated its efforts on the design and development of instrumented Aircraft Engine Test Stands as well as shifting its emphasis from operational training to engineering support for Pratt & Whitney engine development programs.

FTA and its affiliates generated revenues in excess of $3 million through the nine months ended September 30, 2006 and Company management has previously estimated that revenues for the entire 2006 year would be approximately $4 million. Company management has also forecast its expected revenues for 2007 to be $6 million.

Calvin Humphrey, Viva's Chairman & CEO, commented, "The agreement to extend the time frame to complete the acquisition of the assets and business operations of Flight Test Associates, LLC and its affiliated entities was needed to further identify all assets and business operations to be included in the transaction. Our Company is committed to this transaction and we have a mutual commitment of the Flight Test Group and its principal officers, James Paquette and Alex Wolfe. As we have been working towards a finalization of our agreement, I have been working closely with Flight Test, Jim and Alex in our pursuit of certain defense contract participation and other business development. My involvement further confirms that the acquisition of the assets and operations of Flight Test Associates will add a fundamentally strong subsidiary presence in a niche aviation-related industry to the Viva family. This acquisition combined with the recent agreement to acquire the assets of River Hawk Aviation clearly shows that new direction of Viva is well under way. I expect to continue to bring complementary and profitable entities into our holding company and will further explore various options to allow for the operation of our Caribbean corporate interests. In my opinion, the integration of Flight Test Associates as well as River Hawk Aviation into the Viva family of companies gives us unique market and contractual opportunities with major aviation suppliers that are intended to help us drive revenues and profits."

About Viva International

Recently Viva International Inc. (Viva) agreed to purchase of the assets of River Hawk Aviation, Inc. (River Hawk). Prior to this, Viva was primarily dedicated to the formation and development of airlines along with the acquisition of aviation-related operating businesses and airlines that displayed potential for restructuring into profitable and sustainable aviation-related growth concerns. The Company's primary involvement was with two developmental-stage carriers in regional markets from hubs in Puerto Rico and Santo Domingo, Dominican Republic. Our hub in Puerto Rico was maintained through our subsidiary Eastern Caribbean Airlines Corporation and our hub in the Dominican Republic was maintained by Viva Air Dominicana, S.A. Each of these companies remain as subsidiaries of the Company and are being evaluated to determine the best course of action to return them to active operations.

The Company has now expanded its focus to also participate as an aviation parts and components supplier in the broader aviation industry, currently specializing in Saab and other commuter aircraft parts and components as well as a provider of consulting services, marketing and appraisals to the aviation community. At present, the Company maintains executive offices in Michigan.

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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

You should not place undue reliance on forward-looking statements in this press release. This press release contains forward-looking statements that involve risks and uncertainties. Words such as "will," "anticipates," "believes," "plans," "goal," "expects," "future," "intends," and similar expressions are used to identify these forward-looking statements. Actual results could differ materially from those anticipated in these forward-looking statements for many reasons, including the risks we face as described in this press release. For further information about Global Developments, Inc. please refer to its Web site at

         Global Developments, Inc.
         Leighton Dean
         (604) 685-7552


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