4325231 Canada Inc. Continues to British Columbia and Changes its Name to Global Summit Real Estate Inc.

    VANCOUVER, Oct. 18 /CNW/ - As previously contemplated, Global Summit Real
Estate Inc. (formerly 4325231 Canada Inc.) (the "Company") announced today
that, effective October 17, 2007, the Company has been continued from the
Canadian federal jurisdiction to the Province of British Columbia under the
British Columbia Business Corporations Act. In connection with the
continuance, the Company's name was changed from 4325231 Canada Inc. to Global
Summit Real Estate Inc. to reflect its principal business activities.

    About the Company

    The Company is a real estate development company and currently has an
indirect interest in a real estate development project located in downtown
Toronto, Ontario.

For further information:

For further information: Mr. Les Fovenyi, Chief Financial Officer,
Global Summit Real Estate Inc., 911 Homer Street, Suite 300, Vancouver,
British Columbia, V6B 2W6, Telephone: (604) 602-7747

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