SOURCE: Perihelion Global

February 27, 2009 13:30 ET

Perihelion Global Provides Corporate Update

SANTA ROSA BEACH, FL--(Marketwire - February 27, 2009) - Perihelion Global (PINKSHEETS: PRGL) today provided a corporate update to address recent shareholder inquiries regarding its various initiatives.

What is the status of our company's IRS Excise Tax Certification to sell Biodiesel?

Our company did not obtain Excise Tax Certification to sell Biodiesel.

What is the status of the Opp, Alabama Biodiesel Refinery?

As a result of factors such as the depressed national economic conditions our company will not operate the Opp Biodiesel Refinery. The land and main building should revert back to the City of Opp in an agreement reached between our company and the City. Operational permits should be returned to the appropriate regulatory agency if necessary, or not be renewed. Any remaining building onsite and equipment may be used in an effort to reduce or eliminate debt relating to construction or other costs; or other applications in the best interests of our company.

What is the status of our company?

Obviously, our company has been severely affected by the downturn in the national economy. In view of the severe national economic conditions and other factors, as with many other companies nationwide, our company has drastically reduced its overhead and has been reviewing its options to reduce its debt and outstanding liabilities to survive and operate.

What are our company's debts and liabilities?

Our company owes legal, accounting, engineering and corporate fees; debts to vendors or contractors relating to the Biodiesel refinery; rents, permit / governmental fees, accrued compensation, shareholder loans and a note payable for the radio stations. Most of these liabilities were personally guaranteed by shareholders who are members of management.

What is the status of the radio stations?

WCMA is currently being operated under a License Management Agreement by a non-profit organization and has a Mortgage Lien on it relating to payment of company legal fees for securities work. WTKN received a fine for FCC broadcast violations and is currently being reformatted.

Does our company have active mining operations?

Our company does not have active mining operations at this time.

What are our company's plans to move forward?

Our company is considering several possibilities, by obtaining available data and analyzing it to ascertain which, if any of these scenarios may provide a higher probability of success in today's environment. Our company's research includes, but is not solely limited to the acquisition of revenue producing assets or companies and / or the liquidation of assets to reduce or eliminate debt and liabilities.

What has happened to the current management and why was our company not successful to date?

While some members of the management team and / or their immediate families have undergone life threatening medical illness or conditions over the past year, they have continued to utilize all available time, energy and resources towards our company's and shareholders well being. Additionally our company, such as many others nationally has not been immune to the effects of national economic conditions. At present, our company is reviewing all options, including the possible appointment of replacement or additional management members.

About Perihelion Global:

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


Caution Regarding Forward-Looking Statements

This press release contains historical information as well as forward-looking statements that are based upon our estimates and anticipation of future events that are subject to certain risks and uncertainties that could cause actual results to vary materially from the expected results described in the forward-looking statements. The words "anticipate," "believe," "estimate," "expect," "hopeful," "intend," "may," "optimistic," "preliminary," "project," "should," "could" "will," and similar expressions are intended to identify these forward-looking statements. There are numerous important factors that could cause our actual results to differ materially from those in the forward-looking statements. Thus, sentences and phrases that we use to convey our view of future events and trends are expressly designated as Forward-Looking Statements as are sections of this news release clearly identified as giving our outlook on future business.

These forward-looking statements are subject to significant risks, assumptions and uncertainties, including, among other things, the following important factors that could affect the actual outcome of future events:

-- General economic conditions, either nationally or in our market area, that are worse than expected;

-- regulatory and legislative actions or decisions that adversely affect our business plans or operations;

-- price competition;

-- inflation and changes in the securities markets that adversely affect the fair value of our operations; and

-- changes in our organization, compensation and benefit plans.

We wish to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made, and wish to advise readers that the factors listed above could affect our financial performance and could cause actual results for future periods to differ materially from any opinions or statements expressed with respect to future periods in any current statements. We do not undertake and specifically decline any obligation to publicly release the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

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