Globe Photos Inc (fka GBPT)

[tjak]

News update out on the website. http://www.petel.co.uk/site/index.php?option=com_content&task=view&id=103&Itemid=50

Shareholder Update
Tuesday, 11 September 2007
Sale of Medify Solutions Limited



As announced yesterday (Monday, 10th September) Petel Incorporated has agreed the sale of Medify Solutions to an existing Pink Sheet shell for 20M shares in the emergent floated entity.

The new company is currently in the process of filing a reverse merger and name change and will make its own announcement to the market later in September 2007.

The shares in the shell are currently valued at $0.15 and the number of shares issued for this transaction will remain unaltered post the reverse merger.

Therefore the valuation of the sale of Medify Solutions Limited is 20,000,000 shares x $0.15 =$3,000,000.00.

The shareholding received by Petel Incorporated represents 20% of the new entity float.

The terms of the sale are fully concluded and signed.



The shares received by Petel Incorporated will not be distributed to shareholders for the following reasons:

1) Petel Inc cannot distribute shares in another company to its shareholders. Petel Inc can only pay dividends in cash or in its own shares. There will be no dividend of cash or Petel Inc shares associated with this sale.

2) The 20M shares received will add $3M in value to the Company. The shares, if liquidated will provide a sustainable income stream for the Company, allowing an acceleration of further growth, development and acquisition plans accelerating the progression to full market capability of SexQube.TV.
3) Petel Inc currently has a market cap of $12,145,000.00. In addition the Company has a holding in a2a Group Plc valued at $1,411,375.00. The further shareholding in the new Medify Solutions entity adds $3,000,000.00.


Added to the market cap, this gives a value of $16,556,375.00 for the Company and represents a 35% increase in company value and balance sheet in real terms. This equates to a true pps based on assets and income of $0.095.



No past members of Medify Solutions Limited, or the floated US entity, remain with either Petel Incorporated, Petel Limited or Medify Solutions Limited.

The Directors and Officers of Petel Incorporated authorised to enact this process are David Morton (CEO) and Philip Evans (COO).


ENDS

This news release contains forward-looking statements that are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of such forward-looking statements. The words "estimate," "project," "intends," "expects," "believes," and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are made based on management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe-harbour" provisions of the Private Securities Litigation Reform Act of 1995. For a more complete description of these and other risk factors that may affect the future performance of Petel, Inc. see "Risk Factors" in the Company's Annual Report on Form 10-KSB and its other filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made and the Company undertakes no obligation to disclose any revision to these forward-looking statements to reflect events or circumstances after the date made or to reflect the occurrence of unanticipated events.