Global Enterprises -- Nevada -- Issues Clarification Regarding Biofarm, Inc.

LINFIELD, Pa.--(BUSINESS WIRE)--March 31, 1999--Global Enterprises (Nevada), Inc. ("GEN"), the entity formed on October 7, 1998, to represent the interests of the shareholders other than Litchfield Continental Limited ("LCC") with respect to the assets of Global Spill Management, Inc. ("GEGI"), announces that:

a) counsel for GEN has been authorized to take title to the judgment, in the amount of $1,023,500, obtained in New York State Supreme Court (from the illegal sale of GEGI Debentures by Phoenix Wrecking Corporation) against Phoenix and certain of its affiliates. With such assignment of the existing judgment, GEN will be in position to institute proceedings supplemental to judgment to attempt to effect collection of the principal of and interest on such judgment. Biofarm, Inc. ("BIOF") has authorized counsel for GEN to take all such action as is required to assign such judgment from BIOF to GEN;

b) counsel for GEGI has been authorized by BIOF to conclude the definitive settlement of the Gulf South litigation described on page 13 of the Form 10-KSB filed with the SEC on February 19, 1999. GEN will thereby pay the sum of $10,000 to conclude such litigation and will receive an assignment of the claim of Gulf South in the amount of $78,000 against the responsible defendant; and,

c) counsel for GEGI has been authorized by BIOF to conclude the definitive settlement of the FONDO matter described in 1934 Act filings with the SEC commencing with the Form 10-KSB for the period ended June 30, 1996. (FONDO paid $220,000 (in August, 1994) for 27,500 shares of GEGI and had demanded either the return of the $220,000 (plus interest since August, 1994) or a number of shares of BIOF today equal to such $220,000 plus all accrued interest thereon.) GEGI concluded an arrangement with FONDO pursuant to which FONDO would issue a general release to GEGI/BIOF in exchange for 27,500 shares of freely tradeable BIOF Common Stock (with 10,000 of such shares to be delivered now and the balance of 17,500 shares on December 31, 1999). BIOF has (as the successor to GEGI) now consented to such settlement. The 27,500 shares do not represent any additional BIOF shares to be issued and outstanding.

The nominees of LCC assumed control of BIOF on October 5, 1998, pursuant to a Proxy Statement dated September 21, 1998. Such Proxy Statement concluded the obligations of GEGI undertaken by GEGI in the Stock Purchase Agreement between GEGI and LCC dated April 1, 1998, because the shareholders of GEGI elected to the Board all of the nominees of LCC and voted to change the name from GEGI to BIOF.

Pursuant to such Stock Purchase Agreement GEGI obtained ownership of 87% of Biofarm, S.A. in exchange for a Convertible Debenture entitling LCC to convert into 80% of the number of shares of Common Stock of GEGI then issued and outstanding after such conversion.

Such transaction provided the means by which LCC could obtain control of a U.S. public company in exchange for LCC's ownership of 87% of Biofarm, S.A. GEGI made one fundamental commitment to LCC, namely, that GEGI would have absolutely no obligations of any kind whatsoever that would devolve upon BIOF.

The resolution of the three matters described above (all of which required the assent of BIOF) satisfied that one fundamental commitment.

GEGI remains with one piece of litigation in which it is a party defendant; and that matter has as the principal defendant Terminix International. (Such matter is described in full in the Form 10-KSB filed February 19, 1999, on page 13 thereof.) It is the responsibility of the management of GEGI to resolve such matter without cost to BIOF.

The management of GEN (being the three directors of GEGI prior to the October 5, 1998, shareholders' meeting) is committed to representing the interests of the shareholders (other than LCC) of GEGI, to using its utmost efforts to find value for the shareholders of GEN from the litigation instituted by GEGI (as described in the Form 10-KSB filing dated February 19, 1999), to take the necessary steps (assuming such values have been realized) to cause GEN shares to be distributed (on a share-for-share basis) to the shareholders of GEGI other than LCC, to using its best efforts to work with and assist the new management of BIOF in all matters relating to BIOF and its shareholders, and to making available to the management of BIOF its expertise and assistance.

GEGI's former management conducted all of the necessary due diligence required in connection with the acquisition of Biofarm, S.A. and satisfied itself that the acquisition of 87% of Biofarm, S.A. was in the best interests of the GEGI shareholders. Since October 5, 1998, GEGI's former management has continued to work closely with LCC and with BIOF and will continue to do so.

GEGI's former management is determined and resolved to commit all of its efforts to the creation of two viable and profitable entities for the GEGI shareholders. GEGI's former management is confident that both BIOF and GEN will prove rewarding to the shareholders of GEGI/BIOF.

Any forward-looking statements hereinabove are qualified in their entirety by reference to any exigencies that are beyond the control of the management of GEN.