Biosphere Development Corporation Contracts for USD$3,400,000,000 Loan with Diamond Ridge.

NASSAU, Bahamas -- Biosphere Development Corporation confirmed today that it has received a new loan commitment from its financier Diamond Ridge for USD$3,400,000,000.

The loan in the amount of three billion four hundred million United States dollars bears an interest rate of 6% per annum payable annually and is made against a promissory note, which is due and payable on May 25th, 2015. The funds are to be used to fund the expansion of Biosphere Development Corporation's primary business which is the manufacture and deployment of Biosphere(TM) Process Systems'. Given the availability of these funds, Biosphere Development Corporation is now in a position to fulfill many of the joint venture contracts that Biosphere Development Corporation has entered into.

In January 2005, Biosphere Development Corp., announced an Agreement of Intent with Shenzhen Branch of Yankuang Group Co., Ltd., and the Shenzhen Rayes Group Co. Ltd., to form new joint venture companies in China in a four stage process that will deploy over 1,300 Biosphere(TM) Process Systems' in China by 2010.

Biosphere Development Corp. was initially formed as a subsidiary of Global Environmental Energy Corp., (OTCBB:GEECF) (FWB:LFT). Global Environmental Energy Corp., is a Corporation registered in the Commonwealth of the Bahamas and Publicly Traded on Stock markets both in Germany and the United Sates - http://www.globalenvironmentalenergy.com.

Biosphere Development Corp.'s unique proprietary technology, EcoTechnology(TM), supplies energy through an efficient and environmentally safe process. The Biosphere Process(TM) System, a central part of the EcoTechnology(TM) system, can safely and efficiently processes traditional and non-traditional waste materials into electricity and other beneficial by-products. The Biosphere Process(TM) can assist in solving the global waste problem by converting into clean, green electricity such waste materials as: municipal solid waste (MSW), agricultural surpluses, agricultural effluents, forestry wastes, sewage sludge, medical waste, industrial wastes, flared natural gas, shale oil, sour natural gas, high sulfur oils, waste bilge oil, waste drilling muds and fluids, and many other traditional and non-traditional waste materials.

Biosphere Development Corporation intends to become a fully reporting and trading company in the future if accepted by the SEC and the NASD for trading.

Note to Investors:

This press release contains forward-looking information within the meaning of Section 27A of the Securities Act of the 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor created by those sections. The forward-looking information is based upon current information and expectations regarding Biosphere Development Corporation. These estimates and statements speak only as of the date on which they are made, are not guarantees of future performance, and involve certain risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results could materially differ from what is expressed, implied, or forecasted in such forward-looking statements.

Biosphere Development Corporation assumes no obligation to update the information contained in this press release. Biosphere Development Corporation's future results may be impacted by risks associated with rapid technological change, new technological developments and implementations, execution issues associated with new technology, manufacturing production to meet demand, litigation, media publicity and the negative impact this could have on sales, competition, financial and budgetary constraints of prospects and customers, international order delays, dependence upon limited source suppliers, fluctuations in component pricing, government regulations, dependence upon key employees, and its ability to retain employees. Biosphere Development Corporation's future results may also be impacted by other risk factors listed from time to time in the company's disclosures.