SAN DIEGO, March 1, 2004 (PRIMEZONE) -- Global Medical Products Holdings, Inc. (Pink Sheets:GMDP) has filed this date with the Securities and Exchange Commission Form 8-K -- Current Events which outlines a 50 million Euro dollar (US $62.5 million) financing proposal received and accepted by its affiliate, GlobeLink Capital, Inc., from the representative of Villa Noble S.L., Marbella, Spain, an European investment group. Under the Agreement, GlobeLink Capital, Inc. will invest 40 million Euro dollars (US $50 million) into Chinese companies that Beijing Guo Xin Well-tel Technology Co., Ltd., a division of The Ministry of Information Industry, People's Republic of China (Well-tel) conveys controlling interest in to GlobeLink Capital, Inc.
Further GlobeLink Capital, Inc. will invest the balance of $10 million Euro (US $12.5 million) in Global Medical Products Holdings, Inc. for a 20 percent equity position. Global Medical Products Holdings, Inc. will in turn invest $5 million Euro in EarthNetMedia, Inc. (OTCBB:ENTM) for a 10 percent equity position in that company. Global Medical Products Holdings, Inc. will use the remaining $5 million Euro to effect certain acquisitions outstanding.
About Global Medical Products Holdings, Inc.
Global Medical Products Holdings, Inc. is a U.S. based technology company specializing in the development, manufacture, and distribution of cardiovascular and body fluid-related products for the growing worldwide medical market. Global Medical Products Holdings, Inc. focuses 50% of its revenue base in China and 50% in North America and Europe. China represents some 1.3 billion people, twice the population size of North America. It is the only world market leader that has enjoyed an eight percent annual growth in its Gross National Product in recent years and should continued to do so through 2010.
The Company is contemplating increasing its exposure to the global marketplace by assisting small foreign companies arrange for financing and marketing of their products.
The Company maintains a public web site at www.globalmedprod.com.
About EarthNetMedia, Inc.
EarthNetMedia Inc., a U.S.-based multimedia and international marketing company, which produces and distributes home improvement, interior design, and lifestyle television programs aimed at providing a gateway for businesses to enter China's lucrative markets.
"The Art of Living" interior design and lifestyle television series has been broadcast on Beijing television to an audience in excess of 90 million viewers. This program is a vehicle to brand and market merchandise and to endorse selected products of program sponsors and advertisers.
EarthNetMedia is a gateway for U.S. and international businesses to establish their presence in China and to assist firms with the marketing and branding of their products and services. The Company merchandises consumer products via product placement on television, leading our viewers to our website, providing the Company and its shareholders great capital value.
The Company maintains a public web site at www.earthnetmedia.com.