SOURCE: Globalite Group, Inc.

November 15, 2007 09:54 ET

Globalite Group, Inc. Purchases Los Angeles Income-Generating Real Estate

WASHINGTON, DC--(Marketwire - November 15, 2007) - Globalite Group, Inc. (PINKSHEETS: GGRO) today announced that it has signed an asset purchase agreement with the Nevada corporation Frontline Business Development Consortium, Inc. to purchase a Los Angeles duplex valued at nearly $900,000 for about half of its market value.

"The acquisition of this property further demonstrates GGRO's commitment to take advantage of the new real estate market and to grow its real estate portfolio and enhance shareholder value," said GGRO president Curtis Pree. The duplex is fully occupied and includes long-term lease agreements.

GGRO plans to convert the property, which currently generates about $2,400 a month in rental income, into an eight-unit rental property with the adjoining lot. The 3,000-square-foot duplex, located off of Interstate-10 near downtown LA, was originally built in 1931.

"It's a prime location, because it's about eight minutes from everywhere -- downtown, the beach and the groves," said Frontline president Nahlyee Van Brunt. "It's perfect rental housing for people who priced out of downtown Los Angeles."

About Globalite Group, Inc.:

Globalite Group, Inc., an S corporation, is incorporated in Nevada as an acquisition and distribution holding company focused on income-producing assets and real estate in domestic and foreign markets. Globalite will purchase residential real estate, commercial real estate and minority-owned small businesses located internationally. The properties will be evaluated, and then either resold or developed further by Globalite and its staff. The Globalite Group also offers consulting services to minority-themed small businesses that are interested in going public. Globalite will provide these services via its company web site, by phone, and in person using our staff of consultants located in virtual and satellite offices throughout the world.


The statements contained in this release which are not historical facts are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. These risks and uncertainties include the Company's entry into new commercial businesses, the risk of obtaining financing, recruiting and retaining qualified personnel, and other risks described in the Company's Securities and Exchange Commission filings.

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