SOURCE: Globex, Inc.

July 06, 2006 13:57 ET

Globex, Inc. Announces Progress in Execution of Corporate Strategy

New Corporate Website and Name Change Planned

NEW YORK, NY -- (MARKET WIRE) -- July 6, 2006 -- Globex, Inc. (PINKSHEETS: GLXI) today announced that it has made significant progress in the execution of its corporate strategy to become a player in the high-growth ethanol industry.

First of all, the Company has closed 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 technology involves producing ethanol from cellulose plants rather than from starch or sugar plants, which according to industry and environmental experts is the better alternative to producing ethanol from corn. As per a recent article entitled "Business 2.0: Ethanol war brewing," cellulosic ethanol has more than its fair share of eager investors. Last month Goldman Sachs put $27 million into a Canadian company called Iogen, which wants to produce ethanol from switchgrass -- i.e. a cellulose-to-ethanol process.

Globex is also in negotiations to acquire other technologies and systems in the green energy field. These investments will markedly expand the Company's revenue and asset base and assist it in becoming an important player in the green energy industry.

Globex has resolved to change its name in order to better reflect its current business operations. Its attorneys are preparing the necessary documents to file for the name change with the Secretary of State of the State of Nevada. In addition, the Company is in the process of developing a new corporate website, which should be completed by the end of the month. A temporary flash page may be accessed at: www.globexgreenenergy.com.

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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