Global 1 Investment Holdings Corporation and W. E. Tucker a/k/a Willie E. Tucker, Jr.

U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 20533 / April 23, 2008

Securities and Exchange Commission v. Global 1 Investment Holdings Corporation and W. E. Tucker a/k/a Willie E. Tucker, Jr., Case No. 1:08-CV-1381 (N.D. Ga. April 14, 2008)

Securities and Exchange Commission Files Subpoena Enforcment Action

Global 1 Investment Holdings Corporation and W. E. Tucker Fail To Produce Documents or Appear For Testimony Before Commission Staff

The Securities and Exchange Commission today announced that on April 14, 2008, it filed a subpoena enforcement action in U.S. District Court for the Northern District of Georgia against Global 1 Investment Holdings Corporation ("Global 1") and W. E. Tucker a/k/a Willie E. Tucker, Jr. ("Tucker"). Pursuant to a subpoena issued on October 10, 2007, Global 1 was obligated to produce documents to the staff by October 29, 2007, and appear for testimony at the Atlanta Regional Office of the Commission on November 5, 2007. Pursuant to a subpoena issued on November 29, 2007, Tucker was obligated to produce documents to the staff by December 13, 2007, and appear for testimony at the Atlanta Regional Office of the Commission on December 18, 2007. Neither Global 1 nor Tucker produced any documents pursuant to subpoena, and neither appeared for testimony as required. Accordingly, the Commission filed its Application for an Order to Show Cause and for an Order Requiring Obedience to Subpoenas, along with a supporting Memorandum and Declaration.

In its Application and supporting filings, the Commission alleges that on September 27, 2007, the Commission issued its Order Directing Private Investigation and Designating Officers to Take Testimony ("Formal Order") in the Global 1 Investment Holdings Corporation investigation. The Formal Order authorizes the staff to conduct an investigation into whether, among other things, Global 1, Tucker, or certain other persons and entities associated with Global 1 violated the anti-fraud provisions of the federal securities laws.

Pursuant to its Application, the Commission is seeking an Order directing Global 1 and Tucker to show cause why the Court should not enter an Order requiring them to appear for testimony and produce the required documents.