Globetel dreht durch! Wechsel zur AMEX! +562,25%

GlobeTel Communications Corp. (OTCBB:GTEL) today announced that effective on Monday, May 23, 2005, the Company's shares will be moved to the American Stock Exchange and will trade under the symbol GTE.

The Amex granted approval to their exchange contingent upon the Company affecting a 1 for 15 reverse stock split. Further, this approval is contingent upon the Company remaining in compliance with all applicable listing standards until the date it begins trading on the Exchange, and may be rescinded if the Company is not in compliance with such standards.

Timothy Huff, CEO of GlobeTel, stated, "Our time has come to move to a more recognized trading exchange. We are looking forward to being listed on the AMEX and look forward to the next chapter in the financial life of the Company."

About the American Stock Exchange

The American Stock Exchange (Amex) is the only primary exchange that offers trading across a full range of equities, options and exchange traded funds (ETFs), including structured products and HOLDRSSM. In addition to its role as a national equities market, the Amex is the pioneer of the ETF, responsible for bringing the first domestic product to market in 1993.

Leading the industry in ETF listings, the Amex lists 155 ETFs; the Amex is also one of the largest options exchanges in the U.S., trading options on broad-based and sector indexes as well as domestic and foreign stocks. For more information, please visit http://www.amex.com.