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Perihelion Global Receives Confirmation From Delaware Secretary of State Reducing Authorized Shares 98%
Tuesday July 24, 2:28 pm ET


WILMINGTON, DE and SANTA ROSA BEACH, FL--(MARKET WIRE)--Jul 24, 2007 -- Perihelion Global (Other OTC:PHGI.PK - News), a development company with interests in natural resources, alternative energies, and advanced communications, today announced confirmation from the Delaware Secretary of State that the company's lawful and documented authorized shares have been reduced by 98% to 500,000,000 per the company's board resolution adopted earlier this year.
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Previously, the company had inherited an Authorized Share structure of 30,200,000,000 as a result of the merger with Vision Works Media Group last year. The company believes the now completed 98% reduction in its Authorized Shares will further enhance shareholder value, and eliminate any market concerns about potential mass dilution of the company's stock. Also, since this action affected shares that had not been issued, the 98% reduction of the Authorized Shares of the company in no way reduces the shares held by current shareholders. In consideration of the current climate of the company's share price, and with a view towards the revenue producing acquisitions the company is contemplating in the near term, the company believes it would not be in the best interest of shareholders to further reduce the authorized share count below the 500,000,000 currently registered with the Delaware Secretary of State. To that effect, the company will organize its Board of Directors to negate the previously announced resolution for an additional 250,000,000 reduction.

"We are pleased to have formally completed the 98% reduction of our Authorized Shares," stated John H. Beebe, Chairman, Chief Executive Officer and President of Perihelion Global. "We realize that previous share structure that we inherited as a result of the merger was causing some undue concern and speculation among some shareholders and in the public markets. This action should clearly alleviate those concerns."

Perihelion is currently in various stages of progression with several potential acquisition targets, including the completion of Due Diligence under the formal Letter of Intent for the OTCBB listed company. Pending outcome or completion of several ongoing discussions, the company's intention is to provide shareholders accurate share information as a result of any acquisitions completed.

The company will further clarify and disclose that in an effort to continue building a solid asset base and a determination to acquire existing revenue-producing businesses or properties, Perihelion will continue to issue restricted stock and other compensatory means as necessary to complete acquisitions that enhance shareholder value and provide adequate compensation for officers and directors.

The company expects to release a formal update on the status of these acquisitions in the near future.

About Perihelion Global:

Perihelion Global focuses on the acquisition, development and management of technologies, strategic commodity reserves and assets in the energy, natural resource and communications markets. Perihelion's management team specializes in providing solutions for the strategic challenges of the 21st Century. We lead with decades of experience in environments that are mission critical in today's global marketplace: Technology, Energy and Communications.

Website: http://www.perihelionglobal.com