GGLB | Green Globe International, Inc. CEO Addresses First Revenues From Sustainability Services Agreement

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Payment Received From First Client; Additional Customers in Worldwide Markets Identified

Jul 30, 2008 9:50:00 AM
MURRIETA, CA -- (MARKET WIRE) -- 07/30/08 -- Green Globe International, Inc. (OTCBB: GGLB), which owns the Green Globe brand, the premier international green brand focused on sustainability and carbon neutrality programs, today issued a comment from CEO Steven R. Peacock on the company's recent announcement of a sustainability services agreement and the receipt of revenues from the contract.

"In our June 2008 newsletter released several weeks ago, I addressed several planned revenue streams for Green Globe International, and with the signing of the first of what we expect to be many clients for the company's comprehensive sustainability services, I would like to discuss where the payment we received as a result of this agreement fits in that revenue model.

"One of our greatest challenges as owner of the Green Globe brand worldwide has been to identify and focus our resources on specific targets among the innumerable opportunities that exist to deliver sustainability services to a global market. As a result, the Board of Directors, Chief Operating Officer Bradley Cox and our support staff spent a great deal of time after our acquisition of the Green Globe brand planning its continued growth as the premier international green brand. This included establishing Green Globe International as a leader in sustainability and carbon neutrality strategies for its stakeholders, which include governments, communities and operators, and to grow the equity of the Green Globe brand in travel and tourism as well as in all other industries.

"Of the revenue streams identified during the strategic planning stage, our sustainability services agreement with Estoril Congress Center and the payment that has been received as a result of that agreement fall into the category of 'bundled' sustainability services, including benchmarking and certification; consultancy and support, delivered to Green Globe clients. The Estoril agreement came through our strategic alliance with MCI, the foremost global association, communications and event management company, and we will continue to work with all of our corporate partners to expand the use of the brand in a variety of applications.

"Shareholders should understand that while the agreement with the Estoril Congress Center was being negotiated and executed, the company continued to pursue agreements with additional potential customers, and we expect new clients to be signed to the Green Globe program in the near future. We are also working with our strategic alliance partners at PA Consulting and Wallace Partners to market and deliver Green Globe sustainability programs, and we look forward to future announcements related to those initiatives as well.

"While there clearly are a number of moving parts in Green Globe International, we feel that the company has become much better equipped to manage all of these parts and to implement a cohesive and successful operations strategy. The first executed client agreement affirms that belief, even though it is just the first step of what is expected to be many. Equally important for Green Globe International is to deliver clear communications to the public markets on how the company's goals, particularly the focus on increasing shareholders value, are being achieved. That will be undertaken as new agreements are signed and the Green Globe International client list grows. Considering the estimated $1 trillion captured by sustainability related industries in 2007 and the growing worldwide focus on going green, we see a very bright future for Green Globe International and its ownership of the Green Globe brand."

The World Travel and Tourism Council (WTTC) established Green Globe in 1992 as a response to the United Nations Rio de Janeiro Earth Summit, where 182 Heads of State endorsed the Agenda 21 principles of Sustainable Development. Green Globe is the only international sustainability program based on Agenda 21 principles.