PLANO, TX--(Marketwire - Nov 8, 2012) - In the news release, "Globalgroup Investment Holdings Inks Letter of Intent With Everybody's Phone Company," issued earlier today by Globalgroup Investment Holdings, Inc. (PINKSHEETS: [ GIHI ]), we are advised by the company that the name in the fourth paragraph is incorrect and should be Norman George rather than Steve Bethke as originally issued. Complete corrected text follows.

Globalgroup Investment Holdings Inks Letter of Intent With Everybody's Phone Company

PLANO, TX -- November 8, 2012 -- Globalgroup Investment Holdings (PINKSHEETS: [ GIHI ]), the nation's newest proprietary technology solutions provider for payment and collection services announced that it has signed a Letter of Intent (LOI) with Everybody's Phone Company to cross-sell each other's services within their mutually targeted markets, 

Both companies target a similar audience of fiscally challenged consumers. GIHI, through its Americas Layaway Malls (ALM) subsidiary, the developer of a viable online shopping alternative, through utilization of credit alternatives and time-payment options for fiscally challenged consumers has partnered with Everybody's Phone Company that offers innovative and competitively priced local and long distance telephone services to fiscally challenged residential consumers in Texas.

Under a Definitive Marketing Agreement to be completed within the next sixty days Globalgroup will promote Everybody's telephone services to its engaged customers and Everybody's Phone Company will promote the Globalgroup merchandise layaway services program to its telephone customers.

"Our customers rely on our discounted telephone services and will appreciate the alternative payment options under the Globalgroup layaway consumer products services. This will be very beneficial as they strive to live within their household budgets. We are delighted about the potential to offer these services to our customers," stated Norman George, President of Everybody's Phone Company.

Fred Rackers, Globalgroup President, commented, "We look forward to partnering with Everybody's Phone Company and promoting their lower cost telephone alternatives to our layaway customers, as our fiscally responsible customers will appreciate the savings from a source that they may otherwise not have ever been made aware of."

About Globalgroup Investment Holdings, Inc.

Through ALM, Globalgroup provides a viable online shopping alternative for fiscally challenged consumers by offering quality name brand products at affordable prices, regardless of household income, through credit alternatives and time-payment options. Globalgroup also offers technology solutions such as GlobalLOK™ that addresses the computer payment collection challenges associated with rent to own, pay as you go and no-credit-check computer markets, and in other industries where remote PCs and laptops are deployed.

About Everybody's Phone Company
Everybody's Phone Company is a new alternative to the large telecom providers that have dominated the local telephone service market. We offer a fast growing pre-paid telecommunications service to the large numbers of customers and businesses that cannot get service from their Regional Bell Operating Company for one reason or another. Our customers can choose from basic local dial tone service or select from numerous optional long distance service and feature package options. Everybody's Phone Company's long-term goal is to become a nationally branded provider of pre-paid telephone services to residential and business customers across the United States. For more information, visit [ www.everybodysphonecompany.com ].

Forward-Looking Statement: This press release includes "forward-looking statements" within the meaning of the federal securities laws, commonly identified by such terms as "believes," "looking ahead," "anticipates," "estimates" and other terms with similar meaning. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct.