GlobalNet Energy Completes Acquisition with CBTechnologies and Changes Name to Auction Floor, Inc

Business Wire, Dec 18, 2006

New name supports company move to being the online meeting place for bidders and auctioneers

SCOTTSDALE, Ariz. -- GlobalNet Energy, Inc. (Pink Sheets: GNEG), a software company dedicated to providing solutions to the live auction marketplace, announced today that it has completed it's acquisition of CBTechnologies. The name has changed to Auction Floor, Inc. and, in conjunction, has launched auctionfloor.com (URL: http://www.auctionfloor.com). The trading symbol has not change yet and is still GNEG.

Officers and Directors of GlobalNet Energy, Inc. have resigned. The management team of CBTechnologies, now known as Auction Floor, Inc., have been elected with Andrew Stone as CEO/President.

Auction Floor, Inc. is a software company dedicated to finding solutions for the live auction market. The software platform allows users to search for auctions by category, keyword or even location and then bid on those items in real time. The platform gives bidders more options including allowing them to see up to 12 photographs of an item up for auction, place an absentee/left bid, request a phone bid, place snipe bids, and bid live.

"We've changed our name to Auction Floor as it better reflects our corporate goal of being the online meeting place, for auctioneers and bidders," said Andrew J. Stone, CEO, Auction Floor, Inc.

About Auction Floor, Inc.

Auction Floor, Inc. is a software company dedicated to finding solutions for the live auction market. The software platform allows users to search for auctions by category, keyword or even location. This offers real time bidding. Bids can be placed using our online bidding system (no plug-ins needed), with our power bidding software, over the phone or even using eBay Live Auctions.

Forward Looking Statement:

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