Global Technologies Merges with Oleco Inc. of Michigan!

For Immediate Release 08/07/2007

Spring Lake, Michigan Oleco Inc. of Spring Lake, Michigan and Global Technologies of Deer Park, New York are pleased to announce that the two firms have merged. The new company will continue to manufacture and distribute custom wiring assemblies and conductivity system solutions. The organization will operate under the legal designation of Oleco Inc., doing business as Global Technologies.

Existing facilities in Michigan, New York and Tampa, Florida will continue their present operations. The two companies' management personnel will come together as well, and both internal and external customer contacts will remain unchanged. Upper management will consist of Jeff Olds, CEO, Stan Lichenstein, President, and Dan Solowy, Vice President of Operations.

CEO Jeff Olds said the merger brings together each company's strengths, creating a more diverse corporation in terms of engineering, manufacturing and distribution capabilities. "Oleco and Global Technologies have been strategic partners for some time, and we could see that merging Oleco's manufacturing resources with Global's strong distribution network would create an even more efficient, responsive entity for our current and future customers."

President Stan Lichenstein added that together the two companies offer an expanded list of products, which allows them to serve an even broader spectrum of industries and clients around the world. "Now that Oleco and Global Technologies have come together as one, we are able to serve both the Datacomm and OEM sectors. Our customers will also benefit from our ability to act as a single source for a much wider range of conductivity solutions. In terms of personnel, nothing has changed for our customers. The key difference is there will now be more circumstances in which we can fulfill their needs."