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GTEL Holds Annual Shareholders Meeting.

FORT LAUDERDALE, Fla. -- GlobeTel Communications Corp. (OTCBB:GTEL) held its annual shareholders meeting last night at the Wyndham Hotel in Ft. Lauderdale.

With over 91% favorable votes from all shareholders entitled to vote, the seven (7) nominees for the Board of Directors were elected and the appointment of Dohan & Company, CPAs, P.C. of Miami, as the independent auditors for the year ending December 31, 2004 was ratified.

The Directors elected for a one year term ending at the next shareholders meeting in 2005 are: Przemyslaw L. Kostro, Timothy M. Huff, Mitchell A. Siegel, Jerrold R. Hinton, Leigh A. Coleman, Michael K. Molen and Kyle McMahan.

The meeting was immediately followed by a comprehensive presentation by Mr. Huff, and Mr. Coleman, CEO and President, respectively, of GlobeTel and Mr. Molen, CEO of Sanswire Network, LLC (Sanswire), a wholly owned subsidiary of GlobeTel. The presentation provided details of the company's current operations and the visions for the future, highlighted by Sanswire's proprietary technology, the Stratellite.

Mr. Huff also announced that the company has already began to take necessary actions to move to the American Stock Exchange (ASE) as early as the first quarter of 2005, and that the company already meets the ASE's requirement of being a $50 million market cap company to qualify. He also announced that there are several significant activities in the process which the Company will be providing to the shareholders sometime after Labor Day.

Mr. Huff stated, "In behalf of myself and the rest of the newly-elected Board Members, we would like to thank all our shareholders for continuing to allow us the opportunity to serve the company and giving us the opportunity to bring the Company to the exciting future we are all envisioning. We have laid out our plans of action, and we feel confident that the next two (2) years will bring exciting changes, with great profitability and greater shareholder value."

Safe Harbor Statements

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 Placement 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. The above are more fully discussed in the Company's SEC filings.
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Publication:Business Wire
Geographic Code:1MEX
Date:Aug 27, 2004
Words:434
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