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IMAKEMONEY
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GlobeTel Communications and VPN de Mexico Agree to Form Joint Venture to Build and Operate Wireless Broadband Networks Throughout Mexico

Feb 21, 2007 11:54:05 (ET)


FORT LAUDERDALE, Fla. and MEXICO CITY, Feb 21, 2007 (*********wire via COMTEX) -- GlobeTel Communications Corp. (Pink Sheets:GTEM) and VPN de Mexico S.A de C.V. today announced that they have signed an agreement pursuant to which they will form a joint venture, to be 51% owned by VPN and 49% owned by GlobeTel, to build and operate wireless broadband networks throughout Mexico based on GlobeTel's proprietary HotZone(tm) technology.

The joint venture agreement follows the successful testing and startup of operations of an initial broadband wireless network in Pachuca, State of Hidalgo, Mexico. The construction of the Pachuca network commenced in mid-September 2006 and began serving wireless broadband customers last October.

"The business model calls for an aggressive implementation of the HotZone technology throughout multiple markets within Mexico," said Carlos Peralta, Chairman of Grupo IUSA, the parent company of VPN de Mexico. "The reliance on dial-up access in areas without broadband service, or in areas with large low-income populations, presents a significant barrier to the widespread social diffusion of the Internet. The HotZone technology will lower the cost of services and barriers to entry to a point that we expect to have overwhelming acceptance of the product."

Mr. Carlos Peralta has been involved in the building of commercially successful wireless networks in Mexico, and will serve as the Chairman of the Joint Venture Company. His telecommunications expertise will greatly assist in the execution of the new Company's business plan.

Mr. Pablo Peralta, CEO of VPN de Mexico and a Director of both Grupo IUSA and the Joint Venture Company, stated, "The HotZone technology gives us the ability to service the Broadband Internet Marketplace, which is an under-developed telecommunications sector in Mexico. This provides the platform that VPN's products and services require to greatly expand our market penetration."

HotZone based networks in Mexico will bring Internet access at speeds 10 times that of dial-up at a comparable price and in some areas, a lower price. Additionally, this will allow customers to connect to the Internet through a direct broadband Internet connection.

"We are excited to be partners with one of the most industrious families in the world," said Przemyslaw L. Kostro, Chairman of GlobeTel Communications Corp. "It is with great enthusiasm that we enter this joint venture agreement to bring the HotZone technology to Mexico."

"This agreement caps a strong effort by everyone at GlobeTel to put all the moving parts of this network together outside the United States," stated Joe Monterosso, GlobeTel's Chief Operating Officer who oversaw the construction of the Pachuca network and guided the process since the company's initial contacts with VPN in June 2006. "This was a significant test of our company and its people, and we have come together for what will be a great success."

Strong Market Potential in Mexico

With just over 19 million landline telephones in Mexico and a population of 105 million, Mexico provides a vast opportunity for the new venture. The test network in Pachuca has shown that there is a need for broadband in areas outside the major metropolitan areas. As many middle-class Mexicans move to these areas, the infrastructure has not followed. A HotZone-based wireless broadband network brings needed connectivity in a country that has Latin America's highest penetration of PC use.

Mexican GDP growth in 2006 was 4.6% and the International Monetary Fund has said that it expects continued growth in Mexico with inflation remaining low.

About VPN de Mexico S.A. de C.V. and Grupo IUSA S.A. de C.V.

Headquartered in Mexico City, Mexico, VPN de Mexico is part of Grupo IUSA. Grupo IUSA, founded in 1939, is one of the largest industrial groups in Mexico, with interests in construction, communications, automotive equipment and financial services. Grupo IUSA is a leader in the domestic and international market for supplying integral solutions for diverse industrial and construction sectors. For more information about the company, log on to www.grupo-iusa.com .

About GlobeTel Communications Corp.

GlobeTel Communications Corp. develops and provides an integrated suite of telecommunications products and services, leveraging its advances in VoIP and Wireless Access technologies. Individually, each of GlobeTel's business units function as distinct, stand-alone entities. Together they form a powerful alliance of human talent and technological innovation resulting in the SuperHub(tm) worldwide VoIP network, Sanswire Stratellite(tm) platform and products enabling simpler, cheaper transmission of voice and data. GlobeTel has historically focused its business development on markets outside of the United States. For more information, please visit: www.globetel.net .

Certain statements in this release constitute forward-looking statements or statements which may be deemed or construed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "forecast," "project," "intend," "expect" "should," "would," and similar expressions and all statements, which are not historical facts, are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance (finance or operating) or achievements to differ from future results, performance (financing and operating) or achievements expressed or implied by such forward-looking statements.

This news release was distributed by *********wire, www.*********wire.com

SOURCE: GlobeTel Communications Corp.


GlobeTel Communications Corp.
Investor Relations
Robert Bleckman
(954) 775-1427

--------------------
LIFE IS 10% HOW YOU MAKE IT AND 90% HOW YOU TAKE IT!

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