SOURCE: Globaltech Holdings, Inc.

May 28, 2013 13:37 ET

Globaltech Holdings, Inc. Launches Aggressive Acquisition Campaign

GLBH Targets 5 Key Acquisitions for Insurance Roll-Up Strategy

THOMASVILLE, GA--(Marketwired - May 28, 2013) - Globaltech Holdings, Inc. (OTC Pink: GLBH) is pleased to announce their aggressive acquisition campaign for 2013.

Currently, Globaltech Holdings has identified five key acquisition candidates in the insurance sector. The acquisition candidates have combined annual revenue of $750,000. All revenue is typically recurring with steady year over year increases. The insurance agencies are located in the densely populated Florida markets of Jacksonville, Ft. Lauderdale and Miami.

In addition to acquiring high growth insurance agencies, Globaltech is seeking to purchase technologies that will streamline their growing operations.

Ormand Hunter, CEO of Globaltech Holdings, Inc., states, "We anticipate 2013 to be a strong year for our company. Our current progress of completing key acquisitions fits with the mission statement of GLBH, 'revenue generation thru acquisition of ongoing companies, established client bases and strong residual revenue growth.' We will continue to follow through with our mission statement and capture market share."

About Globaltech Holdings, Inc.

Globaltech Holdings, Inc. (GLBH) is a progressive insurance brokerage firm that provides turnkey solutions to protect their clients' 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 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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