SOURCE: Globex, Inc.

April 27, 2006 08:30 ET

Globex, Inc. Announces Major Investment in Bioethanol Production System

NEW YORK, NY -- (MARKET WIRE) -- April 27, 2006 -- Globex, Inc. (OTC: GLXI) is pleased to announce that it has made a major investment in a 'Green' Bioethanol Production System. This System is an innovative method to produce ethanol from waste products. These waste products, which will be described at a later date, exist in high quantities (i.e. are readily available) and cannot be disposed of in an environmentally-safe manner.

This System has several positive attributes which reduce the cost of bioethanol production. In particular, by increasing the sugar ratio and reducing the presence of inhibitors, it improves the alcohol production yield from the biomass. This new technology will overcome the difficulty that was associated with hydrolyzing cellulose to simple sugars for fermentation. Separating these complex structures into fermentable sugars is essential to the efficient and economical production of cellulose-based ethanol from waste products. In addition, since this technology involves producing ethanol from cellulose plants rather than from starch or sugar plants, it will reduce the environmental problem related to the use of pesticides and other chemicals for extensive agricultural production of starch and sugar cane. This System will be in high demand due to the increasing production of ethanol-blended gasoline in order to reduce greenhouse gas emissions.

This investment is a critical first step in Globex's new corporate strategy to become a player in the high-growth ethanol industry. Globex's goal is to capitalize on the rapid rise in the demand for ethanol that is being driven by the energy bill passed by the US Congress last year. The bill requires an increase in ethanol use by refiners to 7.5 billion gallons by 2012, which is nearly double the current total of about 4 billion gallons per year. In addition, the ethanol market has grown dramatically in recent years as states have banned the fuel additive MBTE (Methyl Tertiary Butyl Ether) due to contamination concerns. Refiners wishing to comply with new laws and thus avoid litigation are replacing MTBE with ethanol. Furthermore, there is an ethanol shortage that Globex will seek to fill and profit from as recent reports suggest that an estimated 130,000 barrels of ethanol per day are needed to fill the void left by MTBE, a figure that is nearly half of current domestic production.

For more information please contact Michel Benoit at (514) 288-8494 or via e-mail at holdings@sympatico.ca.

Forward-Looking Statements

Please be advised that statements made herein, other than historical data, constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, potential volatility in the company's stock price, increased competition, customer acceptance of new products and services offered by the company, and uncertainty of future revenue and profitability and fluctuations in its quarterly operating results. Please also be advised that the company's stock is not currently registered with the Securities and Exchange Commission.

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