THE CORPORATE LIBRARY

Related Party Transactions and Outside Related Director Information

GlobeTel Communications Corp. (GTE)

5/26/2006 Proxy Information

Mr. Leinwand is and continues to be the Company's General Counsel.

7/11/2005 Proxy Information

In January 2003, the Company received a $500,000 loan from Charterhouse Consultancy Services, a Malaysian company and holder of shares of the Company'stock. This loan payable, as well a previous loan of $311,960 was unsecured, non-interest bearing and have no formal repayment terms. In addition, the Company had an outstanding account payable to Charterhouse for $135,000 in connection with consulting services provided in 2002. During 2004, all of the amounts owing to Charterhouse were paid in full with the issuance of $500,000 of Series B preferred stock. The $3,040 difference between the total amounts payable and amount representing the preferred stock issued was expensed in 2004.

Mr. Leinwand is and continues to be the Company's General Counsel.

From November 2001 to April 2002, Mr. Kostro served as the Chief Executive Officer of GlobeTel Communications Corp.