Globalgroup's "America's Layaway Mall" To Bundle Incentives and Awards for Products Purchased Through Layaway Service

PLANO, Texas, Aug. 8, 2012 /PRNewswire/ -- Globalgroup Investment Holdings (PINKSHEETS: GIHI), the nation's most recent proprietary technology solutions provider for payment and collection services announced new incentives under its "America's Layaway Mall" (ALM) online merchandise layaway shopping program. ALM offers fiscally challenged consumers a viable online shopping alternative through credit alternatives and time-payment options recently announced plans to incentivize larger purchases by bundling various highly sought after products with its quality name brand merchandise.

ALM will offer year-round layaway services for consumers shopping for major brands within electronics, computers, jewelry, toys, games, home/garden, and other popular categories, whether for ordinary household necessities or for special occasions such as holidays, birthdays, anniversaries and graduations.

"With our weak economy many of the 50 million credit-challenged and cash based households across the country will continue to see their retail spending decline. We recognize the purchasing power that exists in this vast demographic and we want to show our appreciation for their business through our Reward System by including various items such as MP3 players, smart phones and even complimentary tech support with extended warranties; all depending on the items purchased on our layaway platform," stated Fred Rackers, Globalgroup Investment Holdings, Inc. President.

About Globalgroup Investment Holdings, Inc.

Globalgroup's "ALM" 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. GIHI's subsidiary Sovereign Oil Corp is dedicated to locating, drilling and well completion within the TX, OK and KS shallow well oil fields.

Safe Harbor Forward-Looking Statements

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words or phrases "would be," "would allow," "intends to", "will likely result," "are expected to," "will continue," "anticipate," "expect," "estimate," "project," "indicate," "could," "potentially," "should," "believe," "considers," or similar expressions are intended to identify "forward-looking statements." Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. These include the company's historic lack of profitability, end user customer acceptance and actual demand, which may differ significantly from expectations, the need for the company to manage its growth, the need to raise funds for operations and other risks within the regulation of the industry. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company's past performance is not necessarily indicative of its future performance. The Company does not undertake, and the Company specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, events or circumstances after the date of such statement.

For more information on Globalgroup contact: [email protected]

SOURCE Globalgroup Investment Holdings, Inc.