GlobeTel Communications Corp. Announces NASA to Terminate Memorandum of Agreement

Business Wire,  August 18, 2006  

Tags: NASA

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FORT LAUDERDALE, Fla. -- GlobeTel Communications Corp. (AMEX:GTE) today announced that it has received a 30 day notice from the National Aeronautics and Space Administration that it has determined to terminate the Memorandum of Agreement between the parties signed on June 13, 2005.

According to the letter, NASA decided to terminate the agreement as neither party has actively participated in any tasks under the agreement. The letter also states that the termination does not preclude the parties from working together in the future.

The termination of the agreement does not affect NASA's provision of meteorological services to the Air Force Flight Test Center in support of the flight test efforts involving Sanswire 2, which are to be conducted at Edwards Air Force Base pursuant to the Statement of Capabilities entered into between Sanswire and the Air Force in July 2006.

About GlobeTel Communications Corp.

GlobeTel Communications Corp. develops and provides an integrated suite of telecommunications products and services, leveraging its advances in Stored Value, VOIP and Wireless Access technologies. Individually, each of GlobeTel's five 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, data and money. GlobeTel has historically focused its business development on markets outside of the United States. Current and pending operations exist in Asia, Europe, South America, Mexico and the Caribbean. For more information, please visit: http://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. For additional risk factors and information you should read our SEC filings at www.sec.gov

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