NASSAU, Bahamas, Oct. 31 /PRNewswire-FirstCall/ -- Global Environmental
Energy Corp. (OTC Bulletin Board: GEECF - DE: GLI) today that with its
subsidiary Sahara Petroleum Exploration Corp., a Corporation registered in the
Commonwealth of the Bahamas (SAHARA) and the Algerian company, Geoinvest Ltd.,
have entered into a Memorandum of Understanding to form a joint venture, with
Sinopec Shengli Oilfield Co., Ltd., a wholly owned subsidiary of China
Petroleum and Chemical Corporation (Sinopec Corp. NYSE: SHI).
    The joint venture is intended to develop three oil and gas projects, at
two locations in Algeria and one in Mauritania. The Shenzhen Branch of
Yankuang Group Co. Ltd., is acting as the liaison party between Global and
Sinopec.

    About Sinopec Shengli Oilfield Co., Ltd.
    Sinopec Shengli Oilfield Co., Ltd., a wholly owned subsidiary of China
Petroleum and Chemical Corporation (Sinopec Corp.), was established on the
basis of restructured oil and gas exploration and production business of
Shengli Oilfield on May 28, 2000. The company is actively exploring oil and
gas prospects in 28 counties in China. The major area lies on both sides of
the Yellow River Mouth in Dongying, Shandong Province, including the Jiyang
depression and beach area, Changwei, Jiaolai and east part of Linqing
depressions in Shandong Province, and also Hefei Basin in Anhui Province,
Junggar Basin and Tarim Basin in Xinjiang Autonomous Region, and east block of
Liaodong in Bohai Bay.
    In recent years, the company has been implementing risk exploration
abroad, and has won cooperative blocks in Iran, Kazakhstan, Kirgyzstan and
other counties. By the end of 2004.
    China Petroleum & Chemical Corporation (Sinopec Corp.) is a publicly
listed company with integrated upstream and downstream operations and a
complete marketing network. The company was set up on February 28, 2000 by
China Petrochemical Corporation (Sinopec Group) as the sole sponsor, pursuant
to the [Company Law of the People's Republic of China] and in line with the
principle of "separation of core business from the ancillary, performing
assets from non-performing assets, and enterprise functions from the social",
after the restructuring of its business portfolio, assets, debts and
creditor's rights, organization and personnel. The rationale behind the
creation of Sinopec Corp. was to "diversify the ownership structure, abide by
the rules of the market economy, and establish a modern enterprise system".
Sinopec Corp. issued 16.78 billion H shares in Hong Kong, New York and London
on Oct. 18th and 19th, 2000. The Company floated 2.8 billion A shares in
Shanghai Stock Exchange on July 16th, 2001. The Company's exiting total number
of shares is 86.702 billion, of which 55.06% is held by the state through
Sinopec Group, 22.36% by domestic banks and assets management companies
(AMCs), 19.35% by foreign investors and 3.23% by investors at home.

    About the Yankuang Group Co., Ltd.
    Yankuang Group Co., Ltd., has assets of RMB 22.844 billion (@USD$2.82
Billion United States Dollars) and more than 50 subsidiaries. The Yankuang
Group is engaged in coal production and sales, coal chemical, civil
engineering, etc. with annual total sales income of RMB 11.258 billion
(@USD$1.39 Billion United States Dollars). The Yankuang Group Co., Ltd.'s
subsidiary Yangzhou Coal Mining Company Limited is listed on the New York
Stock exchange (NYSE: YZC), the Hong Kong Stock Exchange (Code number 1171)
and Shanghai Securities Exchange (Code number 600188)

    About Sahara Petroleum Exploration Corp.
    Sahara Petroleum Exploration Corp., was initially formed as a subsidiary
of Global Environmental Energy Corp, (OTC Bulletin Board: GEECF - FWB:
Geec.F). Sahara Petroleum Exploration Corp., intends to become a fully
reporting and trading company in the future if accepted by the SEC and the
NASD for trading. Sahara Petroleum Exploration Corp., is becoming a fully
integrated energy company whose interests include traditional oil and gas
exploration and development.

    About Global Environmental Energy Corp.
    Global Environmental Energy Corp., is a Corporation registered in the
Commonwealth of the Bahamas and Publicly Traded on Stock markets both in
Germany and the United Sates (the Corporation). Global Environmental Energy
Corp., intends to become a fully integrated energy company whose interests
will include traditional oil and gas and alternative energy sources,
environmental infrastructure and electrical micro-power generation. Global
Environmental Energy Corp.'s unique proprietary technology, EcoTechnology(TM),
supplies energy through an efficient and environmentally safe process. The
Biosphere Process(TM) System, a central part of the EcoTechnology(TM) system,
can safely and efficiently processes traditional and non-traditional waste
materials into electricity and other beneficial by-products. The Biosphere
Process(TM) can assist in solving the global waste problem by converting into
clean, green electricity such waste materials as: municipal solid waste (MSW),
agricultural surpluses, agricultural effluents, forestry wastes, sewage
sludge, medical waste, industrial wastes, flared natural gas, shale oil, sour
natural gas, high sulphur oils, waste bilge oil, waste drilling muds and
fluids; and many other traditional and non-traditional waste materials. The
company maintains a web site at http://www.geecf.net

    Note to Investors
    This press release contains forward-looking information within the meaning
of Section 27A of the Securities Act of the 1933 and Section 21E of the
Securities Exchange Act of 1934, and is subject to the safe harbor created by
those sections. The forward-looking information is based upon current
information and expectations regarding Global Environmental Energy Corp. These
estimates and statements speak only as of the date on which they are made, are
not guarantees of future performance, and involve certain risks, uncertainties
and assumptions that are difficult to predict. Therefore, actual outcomes and
results could materially differ from what is expressed, implied, or forecasted
in such forward-looking statements.
    Global Environmental Energy Corp. assumes no obligation to update the
information contained in this press release. Global Environmental Energy
Corp.'s future results may be impacted by risks associated with rapid
technological change, new technological developments and implementations,
execution issues associated with new technology, manufacturing production to
meet demand, litigation, media publicity and the negative impact this could
have on sales, competition, financial and budgetary constraints of prospects
and customers, international order delays, dependence upon limited source
suppliers, fluctuations in component pricing, government regulations,
dependence upon key employees, and its ability to retain employees. GEEC's
future results may also be impacted by other risk factors listed from time to
time in its SEC filings, including, but not limited to, the Company's Form 10-
QSBs and its Annual Report on Form 10-KSB.

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