SOURCE: Globaltech Holdings, Inc.

May 28, 2013 09:29 ET

Globaltech Holdings, Inc. Approves Name Change to Global Insurance Holdings, Inc.

THOMASVILLE, GA--(Marketwired - May 28, 2013) -  Globaltech Holdings, Inc. (OTC Pink: GLBH) is pleased to announce the board has voted to change the name of Globaltech Holdings, Inc. to Global Insurance Holdings, Inc. The name change is in line with the companies' mission to expand and acquire existing highly profitable P&C and Life and Health agencies. The name change was filed with FINRA earlier this month and is anticipated to become effective shortly.

Ormand Hunter, CEO of Globaltech Holdings, Inc., states, "We are excited about this name change. This change will reflect our company mission and communicate clearly to the public and our acquisition companies what our growth strategy is going forward. We have a lot of exciting news and look forward to releasing the information to shareholders very soon."

About Globaltech Holdings, Inc.

Globaltech Holdings, Inc. (GLBH) is a progressive insurance brokerage firm that provides turnkey solutions to protect their client's financial interests. The Company's comprehensive approach includes personal and business insurance programs from personal auto, home, health, life, as well as commercial auto, general liability, workers compensation and group/life to meet all of their client's insurance needs.

Globaltech Holdings, Inc. remains focused on continued expansion through acquisitions of insurance agencies in the Southeast section of the United States.

For more information on Globaltech Holdings, Inc. please visit http://glbholdings.com/ or contact Investor Relations at (973) 351-3868.

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Statements about the Company's future expectations and all other statements in this press release other than historical facts, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby.

The above information contains information relating to the Company that is based on the beliefs of the Company and/or its management, as well as assumptions made by any information currently available to the Company or its management. When used in this document, the words "anticipate," "estimate," "expect," "intend," "plans," "projects," and similar expressions, as they relate to the Company or its management, are intended to identify forward-looking statements. Such statements reflect the current view of the Company regarding future events and are subject to certain risks, uncertainties and assumptions, including the risks and uncertainties noted. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove to be incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, intended or projected. In each instance, forward-looking information should be considered in light of the accompanying meaningful cautionary statements herein. Factors that could cause results to differ include, but are not limited to, successful performance of internal plans, the impact of competitive services and pricing and general economic risks and uncertainties.

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