"One of our key goals for 2002 was to begin to manufacture our award- winning air-conditioning units, which we have now accomplished," said Joe Richardson, Global Energy President and CEO. The Inventor Series 1400 is the line of air-conditioners recently named by the U.S. Department of Energy (DOE) as a co-winner of a competition to provide the most cost-efficient air- conditioning equipment for light commercial applications. The Inventor Series 1400's energy efficiency rating is higher than any other comparable product on the market, which results in lower electricity usage.

Global Energy designed these units specifically for the DOE competition and evaluated a number of companies to produce the product on its behalf. "We selected Matthews Industries," Richardson said "because of the quality of their work and their flexibility to accommodate our production schedule. Working together with Matthews, we now have the capabilities we need to supply our product to the multi-billion dollar air conditioning market."

Matthews Industries, Inc., a contract manufacturer located in Decatur, Alabama, services the OEM heating, air conditioning and refrigeration industries with over fifty years of turn-key manufacturing on make to order units. "We are very excited about the opportunity to work with Global Energy," said Ralph Matthews, President of Matthews Industries. "Their technology has made a significant break-through in energy efficiency and we look forward to being a part of the company's growth."

Production of the Inventor Series 1400 began in early December 2002 and completed units will be available for shipment by December 20th. The Inventor Series has been certified by the Air Conditioning & Refrigeration Institute, an independent industry group that registers the Energy Efficiency Ratio of air conditioning equipment. With its patented technologies, Global Energy's units have achieved a level of energy efficiency previously unseen in the industry.

Global Energy was formed in 1998 for the primary purpose of inventing, developing and commercializing new technologies that improve the energy efficiency of existing products and processes. The Company has a particular focus on, and significant skill in, applications that involve thermodynamics and heat exchange. Global Energy currently holds the rights to eight patents and eight patent-pending applications. Additional information is available at: http://www.gegsolutions.com.

Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Act Reform Act of 1995. Words or phrases like "we believe," "our goal is," "estimate," "project or projected," "will likely result," or similar expressions are intended to identify "forward-looking statements." Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence on third-party suppliers and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.

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SOURCE Global Energy Group, Inc.

CONTACT: Media, Joseph H. Richardson, +1-727-372-3939, or Investor Relations, Peter E. Toomey, +1-727-372-3939, both of Global Energy Group