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GVHL (shell up 26900% lol) - Global Vision Majority Shareholder Announces That It Has Signed An Agreement To Sell The Controlling Interest
SAN DIEGO, CA, Jan. 29 /PRNewswire/ - Global Vision Holdings, Inc. (Pink Sheets: GVHL), a Nevada company, announced today that its CEO, Mr. Jack Chang, the majority shareholder, is in the process of transferring the majority of his equity position of GVHL to an undisclosed purchaser. This deal has been in the works for months and the two sides have reached a decision on various operational matters. Mr. Chang will maintain minority equity in the surviving company and will be actively involved in the business and marketing strategies and activities of ATM Business.

World Market

Global Vision's CEO, Jack Chang, who is the co-inventor of the ATM, said, 'The purchaser is well financed, has demonstrated revenue and is in a strong position to expand its market share internationally. International market expansion is where I can lend a tremendous help since I have been working on the international front for the last two and half years. We see this as a win-win position for all concerned and especially our shareholders who have been anticipating this transaction for a very long time.'

About Global Vision Holdings

Global Vision Holdings, Inc. (Pink Sheets: GVHL), the business developer and wholesale marketer (with agents worldwide), offers advanced payment systems products & services (for banked as well as un-banked people) that include:

- Prepaid Debit Cards - For end users, groups & co-branding issuers
- Credit & debit card processing outsourcing - for financial
institutions
- Design, program management & outsourcing of 'Transaction Acquiring
Networks' for banking, as well as retail (bill payments & prepaid
top-ups), transaction switching & processing.

Global Vision's revenue model strives to create both initial and recurring revenue streams from a global customer base through mass distribution marketing channels.

Mr. Chang is also a pioneer in the use of magnetic strips on bank cards, electronic funds transfer systems and PC-based in-bank systems.

He has been CEO of payment services corporations and business and marketing strategist for Global 500 banks & corporations.

Mr. Chang is the co-inventor of the ATM machine. For details, please see: http://www.Global-Vision.com/Bio.asp .

Legal Notice Regarding Forward-Looking Statements: 'Forward-looking statements' as defined in the Private Securities Litigation Reform Act of 1995 may be included in this news release. Global Vision disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. There are important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to, risks associated with changes in general economic and business conditions.

SOURCE Global Vision Holdings, Inc.



Source: PR Newswire (January 29, 2007 - 2:35 PM EST)

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