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Message #7
From: Stock News Bot
Date: October 10, 2006 05:30:00 AM

GLBT News GlobalNet Names Gail Villeneuve Vice President, Wholesale Long Distance

HOUSTON--(BUSINESS WIRE)--GlobalNet Corporation (Pink Sheets: GLBT) announced today it has named Gail Villeneuve, a telecommunication industry professional with 16-years of worldwide sales experience, as Vice President of Wholesale Long Distance.

Villeneuve previously held general management, technical and sales operation positions with Global Access International, Inc., Global Crossing Ltd. and Sprint Nextel Corp. Her focus at GlobalNet will be to oversee its wholesale carrier business servicing telecom carriers and ISPs.

The company also said it is attending the COMPTEL PLUS Fall 2006 Convention & Expo from October 8-11, 2006 at the Orlando World Center Marriott. More information regarding the event is available at http://www.comptelascent.org/.

About GlobalNet Corporation

GlobalNet Corporation, a Voice over Internet Protocol (VoIP) services company, provides outbound telecommunications traffic to Latin America and counts among its customers both Tier 1 and Tier 2 carriers. GlobalNet provides international voice, data, fax and Internet services on a wholesale basis over a private IP network to international carriers and other communication service providers in the U.S. and internationally. GlobalNet's state-of-the-art IP network, utilizing the convergence of voice and data networking, offers customers economical pricing, global reach and an intelligent platform that guarantees fast delivery of value-added services and applications. More information may be obtained from the company’s website at www.gbne.net.

Safe Harbor for Forward-Looking Statements

Except for historical information contained herein, the statements in this news release are forward-looking statements that are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the company's actual results in the future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, product price, volatility, product demand, market competition, risk inherent in the company's domestic and international operations, imprecision in estimating product reserves and the company's ability to replace and expand its holdings.

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