WILMINGTON, DE and SANTA ROSA BEACH, FL–( EMWNews – April 2, 2008) – Perihelion Global

(PINKSHEETS: PHGI), a development company with interests in natural

resources, alternative energies, and advanced communications, today

announced a 2nd update on several corporate matters. Due to the length of

material the company will address several commonly asked questions it has

received from the public released in several parts. Below is the second

such release:

What is the status of the Renovo Holdings, Inc. acquisition?

Last year, Perihelion Global and Renovo Holdings entered into a Letter of

Intent for Perihelion to acquire Renovo Holdings. Part of the contingency

for the acquisition was the mutually agreed elimination of debt Renovo owed

to Yorkville Advisors, LLC (formerly Cornell Capital Partners) in the form

of a convertible debenture. Perihelion management was uncomfortable with

the convertible debenture note Renovo owed to Yorkville Advisors and sought

negotiations to resolve the matter. Yorkville Advisors did not act as

quickly as either Perihelion or Renovo had anticipated in negotiating to

resolve the outstanding debt. Concurrently, Perihelion Global was working

with legal counsel to determine the appropriate structure to facilitate the

acquisition of Renovo Holdings.

Progress towards completing the acquisition slowed dramatically during due

diligence when Yorkville Advisors informed Perihelion that the Renovo

convertible debenture note was in technical default status. Perihelion

management was reluctant to complete the acquisition with the convertible

debenture note still outstanding in such status, which would have allowed

Yorkville Advisors to convert the debt into a large block of free trading

Perihelion shares immediately upon acquisition. Perihelion management felt

after past experiences, it would not be advisable to acquire Renovo while

the convertible debenture debt remained. Additionally, Perihelion

management decided such an arrangement with Yorkville Advisors under the

present circumstances could prove highly toxic to the company’s share

price. To date, as of the last SEC filing (3-38-2008) by Renovo Holdings,

debt is still owed and outstanding to Yorkville Advisors (although reduced)

under the convertible debenture note.

What is the relationship between Cosway Industries, Inc, a fully reporting

SEC “blank check” company and Perihelion Global?

John H. Beebe serves as the President and CEO of both companies, however

there has not been a merger / acquisition agreement announced to date.

Neither Perihelion Global or Cosway Industries can comment on any potential

relationship until such a time a formal public announcement has been made.

Have there been any management changes?

Yes. Recently Ed Villarreal, Chief Operating Officer of the company,

stepped down from his position due to medical reasons. The company respects

Mr. Villarreal’s privacy with regard to his health and deeply appreciates

his hard work and dedication to the company. The position of Chief

Operating Officer is currently vacant, with responsibilities of the

position temporarily shared between John H. Beebe, Michael Varley and Lynn

Bartholomew in addition to their other duties. Management hopes Mr.

Villarreal will be able to rejoin the company in a capacity in the future.

Other recent management changes include the appointment of Lynn Bartholomew

as Sr. Vice President and William Roncali as Vice President of the Biofuel

Division.

Did the company increase its authorized shares and outstanding shares?

Yes, the company increased its authorized shares and outstanding shares of

the company to raise funds under Regulation D (as previously mentioned) and

also to facilitate a Series C Preferred share dividend to all common

shareholders.

Were the authorized shares of the preferred share classes, Series B and

Series C raised?

No. The authorized shares of both classes remain unchanged, as do their

conversion terms and applicable voting rights.

Why did the company issue a Series C preferred share dividend?

The Series C preferred share dividend was issued in an effort to provide

additional equity and value to our common shareholders. Last year despite

the company substantially lowering both the authorized and outstanding

shares of the company’s stock (and subsequently documenting it) the action

appeared to have little or no effect on the valuation of the company, the

price per share or amount of shares reflected as traded. This was

perplexing to the management of the company. We value our long term

shareholders, greatly appreciate their support and thus wanted to provide

them with additional long term equity in the company.

Are short sellers responsible for affecting the price of the company’s

stock?

Management has stated previously in a Press Release that short selling is a

part of routine market activity. We continue to maintain this position.

What about Naked Short Sellers? Are Naked Short Sellers responsible for

affecting the price of the company’s shares?

This is one of the most commonly asked questions the company receives.

Naked Short Sales are a very complex regulatory issue. The company entered

the public market with the intent to build a successful and profitable

company, not with the intent to spend capital, resources and time to

dictate existing regulatory policy. The company does not set or enforce any

regulatory policy. For questions relating to Naked Short Sales, management

would like to refer shareholders to the SEC’s website for guidance at:

http://www.sec.gov/spotlight/keyregshoissues.htm.

Management believes that its time, energy and resources should be focused

on generating revenue and profits from the company’s assets. Additional

questions or comments regarding Naked Short Selling should be directed to

the SEC, your local US Congressman or US Senator.

The company will continue to provide updates on corporate matters, the

company’s biofuel initiatives and Patented Gold Mine segmented over several

releases due to the length of the material in the next few days.

About Perihelion Global:

Perihelion Global focuses on the acquisition, development and management of

technologies, strategic commodity reserves and assets in the energy,

natural resource and communications markets. Perihelion’s management team

specializes in providing solutions for the strategic challenges of 21st

Century. We lead with decades of experience in environments that are

mission critical in today’s global marketplace: Technology, Energy and

Communications.

Website: http://www.perihelion.com

Caution Regarding Forward-Looking Statements

This press release contains historical information as well as

forward-looking statements that are based upon our estimates and

anticipation of future events that are subject to certain risks and

uncertainties that could cause actual results to vary materially from the

expected results described in the forward-looking statements. The words

“anticipate,” “believe,” “estimate,” “expect,” “hopeful,” “intend,” “may,”

“optimistic,” “preliminary,” “project,” “should,” “will,” and similar

expressions are intended to identify these forward-looking statements.

There are numerous important factors that could cause our actual results to

differ materially from those in the forward-looking statements. Thus,

sentences and phrases that we use to convey our view of future events and

trends are expressly designated as Forward-Looking Statements as are

sections of this news release clearly identified as giving our outlook on

future business.

These forward-looking statements are subject to significant risks,

assumptions and uncertainties, including, among other things, the following

important factors that could affect the actual outcome of future events:

--  General economic conditions, either nationally or in our market area,

    that are worse than expected;



--  regulatory and legislative actions or decisions that adversely affect

    our business plans or operations;



--  price competition;



--  inflation and changes in the securities markets that adversely affect

    the fair value of our operations; and



--  changes in our organization, compensation and benefit plans.

We wish to caution readers not to place undue reliance on any such

forward-looking statements, which speak only as of the date made, and wish

to advise readers that the factors listed above could affect our financial

performance and could cause actual results for future periods to differ

materially from any opinions or statements expressed with respect to future

periods in any current statements. We do not undertake and specifically

decline any obligation to publicly release the result of any revisions that

may be made to any forward-looking statements to reflect events or

circumstances after the date of such statements or to reflect the

occurrence of anticipated or unanticipated events.