Perihelion Global Gives Update on Various Corporate Matters

WILMINGTON, DE and SANTA ROSA BEACH, FL -- (MARKET WIRE) -- 04/01/08 -- Perihelion Global (PINKSHEETS: PHGI), a development company with interests in natural resources, alternative energies, and advanced communications, today announced updates on several corporate matters. Due to the length, the company will address several commonly asked questions it has received from the public in several pieces, the first of which is included below.

Is the company in a position to capitalize on the record high prices of Oil, Diesel Fuel and Precious Metals?

Yes. The management feels that the record high prices of Oil, Gasoline, Diesel Fuel, Gold, Silver and various other metals have validated its overall vision to position the company in these markets. Management identified these markets far in advance of the current record high prices, and believes it has solid assets in these markets that will continue to appreciate in value well into the future.

Is Management pleased with the company's overall progress in getting production from its key assets?

No. Management had originally anticipated continuous production and revenue from the company's Patented Gold Mine and Biofuel Refinery by December 2007. While the company has made remarkable progress in some areas, such as getting the Right of Way permit over federal land from the US Dept of Interior, Bureau of Land Management, progress in other areas has not met the expectations of management. This was due in part to management underestimating the time and resources involved in obtaining the numerous Federal and State permits and licensure required to operate in these markets. Additionally management had not adequately allowed for contractor delays, material / equipment back orders and weather related delays.

What steps has management taken to rectify and mitigate delays?

Among the numerous internal changes already implemented, management has identified and brought in key personnel and consultants experienced to lend expertise in the industries the company has targeted as key to its success. Some markets, such as the Biofuel Industry are newly emerging industries. Identifying and engaging individuals who have a documented track record of consistent, proven success has been challenging. This challenge is not unique to Perihelion Global in the Biofuel Industry.

Does the company still plan on moving to a different exchange?

Yes. The company is actively preparing to move to list its shares on with the OTCBB, AMEX or NASDAQ Small Cap.

Is the company raising funds?

Yes, the company has been raising funds from accredited investors (as defined in the Securities Act of 1933, as amended) pursuant to Regulation D.

To date why has the company not utilized the Industrial Revenue Bonds authorized to pay for construction of the Opp BioFuel Refinery in lieu of raising funds under Regulation D?

Shortly after authorization of the bonds management foresaw a fundamental weakness manifesting in all bond markets due to underlying market conditions, and subsequently causing a spike in the yield it would have to pay on the bonds. The company announced its concern about the bond markets in a Press Release before the underlying weakness became apparent to the markets as a whole. The company believes its decision has been proven a wise choice given the tremendous turbulence in the bond markets.

Have any Officers or Directors sold their stock in the open market?

No. The bulk of shares owned by the Officers or Directors are Series C Preferred shares, held in paper certificate form, which bear a restrictive legend and are not free trading. Additionally, any common shares owned by the Officers or Directors are deemed affiliate controlled securities that are restricted and prohibited from sale in the open market without prior public notification to the SEC.

Have any shares issued to complete acquisitions been sold into the market?

The company was notified that the principals of Saturday Night, LLC (Patented Gold Mine Acquisition) were exercising their right pursuant to Rule 144, (as amended February 2008) to convert a portion of their Series C preferred shares into common shares without a restrictive legend (free trading).

Have any other shares issued directly for acquisitions been sold into the market? It is the company's understanding that under Rule 144 (as amended February 2008) shareholders who have been issued stock for acquisitions who do not fall under the affiliate control category (or who would otherwise be prohibited for any other reason) may lawfully petition the company's Transfer Agent to have restrictive legends removed all applicable rules and criteria have been met.

Why is the price of the company's stock so low?

The company does not set or control the price per share of its stock in the open market. The price per share is quoted by Market Makers and is affected by numerous market conditions.

Why does a particular Market Maker change the bid / ask price of the Company's stock?

The company does not set or control the price per share of its stock or the volume of shares traded in the open market. On any given day, there are on average approximately 14 different Market Makers making a market in the company's stock. It is not reasonable to assume the company can understand the proprietary trading strategies of the Market Makers who are buying or selling the company's stock.

The Company previously mentioned in a Press Release that it believed there were trading irregularities of its shares in the public markets. Why has the company not taken any steps to address this concern?

The Company has expressed its concerns through its primary legal counsel, David L. McGee, of the law firm of Beggs & Lane. Last year, Mr. McGee formally notified various entities of the company's concerns relating to the perceived trading irregularities in the company's stock.

Further issues will be addressed in subsequent releases over the next few days. The Company will attempt to address as many shareholder inquires as possible and as capable of being disclosed at this time.

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

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.

Contacts:

John H. Beebe Chairman, Chief Executive Officer & President 866-748-7610 (Toll Free)

2008-04-01 21:32:11 0325614 MARKETWIRE