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Business Wire - January 31, 2006 11:05

FORT LAUDERDALE, Fla., Jan 31, 2006 (BUSINESS WIRE) -- GlobeTel Communications Corp. (AMEX:GTE) today announced that it has extended by 30 days the payment deadline for LLC Internafta to present its first payment so that lawyers and bankers for the parties may continue to work on structuring the payment to be in compliance with banking and currency transfer regulations in the United States and Europe.

GlobeTel CEO Timothy Huff stated: "This is a highly complex international transaction on which all sides continue to work together in good faith. There are numerous legal and regulatory issues that must be resolved and those steps require time and specialized expertise. GlobeTel is represented in Moscow by the law firm of Cleary Gottlieb Steen & Hamilton LLP."

About GlobeTel Communications Corporation:

GlobeTel Communications Corp. is a diversified Telecommunications and Financial Services company. GlobeTel operates business units in stored value debit cards, as a certified financial transactions processor; the sale of carrier-grade VoIP of long distance to major long-distance resellers, VoIP technology, wireless radio technology and development, and high-altitude airship research and development. These self-contained business units were developed to operate independently of each other. The symbiotic relationship, however, provides value to each of the other business units. This strategy offers GlobeTel financial diversity and risk mitigation while striving toward its operating objectives.

Operating on a global basis, GlobeTel has historically focused its business development on markets outside of the United States. Current operations and business relationships exist in Asia, Europe, South America, Mexico and the Caribbean.

For more information, please go to: http://www.globetel.net