SOURCE: Perihelion Global

June 16, 2008 17:22 ET

Perihelion Global Announces Corporate Update

SANTA ROSA BEACH, FL--(Marketwire - June 16, 2008) - Perihelion Global (PINKSHEETS: PHGI) today announced that the company has enacted a corporate restructure effective at the market open on June 17, 2008.

On June 17, 2008 Perihelion Global will affect a reverse split of all the Company's Common Shares and Series B & C Preferred Shares. The ratio for Common Shares and Series C Preferred is as follows:

--  The Reverse Split of all Common Shares of Perihelion Global will be
    530:1.  This is a mandatory exchange and the certificate in your possession
    or shares held at your broker dealer must be exchanged within 30 days of
    this notice: July 18, 2008.  Shares that are not presented for exchange
    within this time frame will be declared null and void.
    
--  The reserve split of the Preferred Series C Shares will be 30:1.  This
    is a mandatory exchange and the certificate in your possession or shares
    held at your broker dealer must be exchanged within 30 days of this notice:
    July 18, 2008.  Shares that are not presented for exchange within this time
    frame will be declared null and void.
    

All other existing previous provisions of the Series B Preferred Share Class, including existing voting rights and the Series C Preferred Share Class conversion will remain unchanged.

If you are a shareholder of record holding a paper certificate a letter has been mailed to you informing you of this corporate action at the address our Transfer Agent has on file.

All shares will be required to be payable upon surrender to the company's Transfer Agent, regardless of the class of stock. The company has also been re-incorporated in the State of Nevada effective this date. After the reverse split and share surrender all shares will no longer bear the State of Delaware Incorporation designation but will hereafter bear the State of Nevada Incorporation designation.

The company's CUSIP number has also been changed and will be reflected on all new shares. The Company has also been assigned a new trading symbol (PRGL) effective June 17, 2008.

IMPORTANT NOTICE: All shares, regardless of the class of stock must be surrendered directly to the company's Stock Transfer Agent, Transfer Online, not the company. If you have shares held on deposit with a licensed broker dealer, then your broker dealer is responsible to surrender the shares to Transfer Online on your behalf by July 18, 2008. Please contact your broker dealer directly with any questions.

For shareholders of record, Transfer Online's mailing address is:

Transfer Online, Inc.™
317 SW Alder Street, 2nd Floor
Portland, OR 97204
Phone: 503.227.2950

Please be advised that Transfer Online charges a $20 fee for the surrender and issuance of each new share certificate. Please include this fee Payable to Transfer Online, Inc. when you surrender your share certificate. Failure to pay Transfer Online, Inc. may result in your shares not being reissued.

About Perihelion Global:

Perihelion Global focuses on the acquisition, development of technologies, strategic commodity reserves and assets in the energy, natural resource and communications markets.

Website: http://www.perihelionglobal.com

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