2008-10-08 04:27:03 -

- Global Energy (OTCBB:GEYI), an alternative energy pioneer, announced today that Mr. Hezy Ram has been named to the company's Board of Directors.

Mr. Ram joins Mr. Nissan Caspi and Mr. Amir Elbaz, who have recently joined the company's Board of Directors. Mr. Yair Aloni and Mr. Jos Neuhaus have recently resigned from the company's Board of Directors. Following

these changes, the company's board of directors consists of Asi Shalgi, Avner Raanan, Nissan Caspi, Amir Elbaz and Hezy Ram.

Mr. Ram is the founder of Ram Power Inc. (RPI), a California-based company engaged in developing cutting-edge geothermal and solar thermal solutions.

Prior to founding RPI, Mr. Ram led the North American Business Development Department of Ormat Technologies, a global player in the development, manufacturing, marketing and financing of innovative power systems. While at Ormat, Mr. Ram initiated and executed the aggressive North American acquisitions of geothermal plants which provided the base for Ormat growth in this decade. Additionally, he was involved with various financings at Ormat in the aggregate amount of almost a billion dollars and was instrumental in the negotiation of power purchase agreements with some of the leading electric utilities in North America. Mr. Ram left Ormat a year ago.

Mr. Ram earned his BSc. in Mechanical Engineering from Ben-Gurion University, Israel in 1975, his MS in Mechanical Engineering from Ben Gurion University in 1977 and his MBA from Hebrew University in 1978.

"Hezy brings to our board a wealth of experience from his work at Ormat, and we are excited to have him as part of our team at Global Energy," said Asi Shalgi, CEO of Global Energy. "I look forward to working with Hezy to bring about success and growth for our company."

About Global Energy

Global Energy (www.global-energy.net) is an alternative energy pioneer with the mission of commercializing innovative technologies which produce energy from waste and renewable sources, while contributing to a vision of a cleaner environment. Global Energy intends to use the most efficient and environmentally friendly of all currently available alternative fuel technologies, each originally developed and patented by acclaimed scientists.

Forward-Looking Statements.

Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others: (i) the inherent uncertainties and speculative nature associated with biofuels and alternative fuel sources; (ii) potential environmental liabilities, weather, mechanical failures, safety concerns, labor problems and financing problems; (iii) changes in economic conditions, adverse exchange rates and financial markets; (iv) the risk that we will not be able to execute our business plan, such as entering into agreements with strategic partners, leasing land, obtaining loans, etc; (v) the inability to retain key employees; (vi) changes in energy prices and the high cost of alternative fuels; (vii) Global Energy's inability to finance its operations or growth; (viii) the inability to obtain all necessary governmental, environmental and regulatory approvals; (ix) an increase in competition in the biofuel and alternative fuel market; and (x) the possibility that our technology does not work as well as expected. Investors should consider all of these risks and should also refer to the risk factors disclosed in the SEC filings of Global Energy.

Ruder Finn Israel for Global Energy
Matthew Krieger, +972-544-676-950
matthew@ruderfinn.co.il