Globalgroup Investment Holdings Announces Corporate Update

Los Angeles, California, Aug. 15, 2013 (GLOBE NEWSWIRE) -- Globalgroup Investment Holdings, Inc. GIHI announced today that the Company has received a number of questions regarding todays announced transaction.

The Company's initial focus is getting the Company's financials current by filing them with www.OTCMarkets.com while the Company completes its audit in anticipation of filing a Form 10 with the United States Securities and Exchange Commission.  The Company is expecting to file the form 10 in October 2013; thereby, upgrading the Company to the OTCQB tier.

We have also received a number of questions regarding the share structure and the number of outstanding shares of the Company.  The Company has not made a determination on the current capital structure of the Company.  The Company expects a decision to be made in the next 2-3 weeks and the Company's current management will have a conference call to provide shareholders the opportunity to ask questions on any subject.  Meanwhile, if you have questions please email them to info@gihi.info.  

About Globalgroup Investment Holdings.  The Company is engaged in the buying, selling and racing of thoroughbreds.  The Company's focus is acquiring thoroughbreds that can race in the allowance and stakes level of thoroughbred racing; however, the Company will initially begin acquiring thoroughbreds in the claiming level of thoroughbred racing.  More information can be found at www.gihi.info.

Notice Regarding Forward-Looking 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. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual and interim reports on www.otcmarkets.com and www.gihi.info.