GlobalTel IP, Inc. to File Registration Statement with SEC

Boca Raton, FL, June 1, 2006 -- GlobalTel IP, Inc. (OTC:GIPI.PK), announced today that it intends to file a registration statement with the Securities and Exchange Commission to register 13,525,425 shares of its common stock. The purpose of the registration statement is to register 5,722,500 shares for resale by certain shareholders, 7,102,925 shares for distribution by Interactive Media Technologies, Inc. to its shareholders and 700,000 shares underlying warrants GlobalTel IP anticipates that it will file the registration statement within the next four weeks. This announcement does not constitute an offer of any securities for sale.