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Perihelion Global Provides Update on Proposed Acquisition of Renovo Holdings, Inc
Wednesday September 12, 8:45 am ET

http://biz.yahoo.com/iw/070912/0301154.html

WILMINGTON, DE and SANTA ROSA BEACH, FL--(MARKET WIRE)--Sep 12, 2007 -- Perihelion Global (Other OTC:PHGI.PK - News), a development company with interests in natural resources, alternative energies, and advanced communications, today provided an update on the proposed acquisition of Renovo Holdings.
Perihelion has concluded its due diligence phase with Renovo and intends to enter into a definitive purchase agreement.

Shareholders of both Perihelion and Renovo should deem the acquisition 'on schedule' and management of both companies remain committed to reaching definitive and binding terms proposed in the initial Letter of Intent. Upon completion of the acquisition, Perihelion intends to move select assets and businesses into the Renovo shell to better maximize their value.

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 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

About Renovo Holdings:

Renovo Holdings, Inc is a shell corporation trading on the Over-the-Counter Bulletin Board.

Caution Regarding Forward-Looking Statements

This press release contains historical information as well as forward-looking statements that are based upon our estimates and anticipation of future events that are subject to certain risks and uncertainties that could cause actual results to vary materially from the expected results described in the forward-looking statements. The words "anticipate," "believe," "estimate," "expect," "hopeful," "intend," "may," "optimistic," "preliminary," "project," "should," "will," and similar expressions are intended to identify these forward-looking statements. There are numerous important factors that could cause our actual results to differ materially from those in the forward-looking statements. Thus, sentences and phrases that we use to convey our view of future events and trends are expressly designated as Forward-Looking Statements as are sections of this news release clearly identified as giving our outlook on future business.

These forward-looking statements are subject to significant risks, assumptions and uncertainties, including, among other things, the following important factors that could affect the actual outcome of future events:

-- General economic conditions, either nationally or in our market area, that are worse than expected;

-- regulatory and legislative actions or decisions that adversely affect our business plans or operations;

-- price competition;

-- inflation and changes in the securities markets that adversely affect the fair value of our operations; and

-- changes in our organization, compensation and benefit plans.

We wish to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made, and wish to advise readers that the factors listed above could affect our financial performance and could cause actual results for future periods to differ materially from any opinions or statements expressed with respect to future periods in any current statements. We do not undertake and specifically decline any obligation to publicly release the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.



Contact:
Contact:
John H. Beebe
Chairman, Chief Executive Officer & President
Perihelion Global
866-748-7610 (Toll Free) x 719
[e-mail]