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To: Glenn Petersen who wrote (1953)	2/6/2009 5:01:35 PM
From: Glenn Petersen	Respond to of 3862

Geneva Acquisition Corporation (stock symbol: [t]GAC[/t]) has announced that it has terminated its agreement to acquire Global Hi-Tech Industries and that the company is going to liquidate. Geneva Acquisition Corp. Announces Termination of the Deal to Acquire Global High-Tech Thursday February 5, 2009, 8:25 am EST QUINCY, Mass.--(BUSINESS WIRE)--Geneva Acquisition Corp. (NYSE Alternext US: GAC; GAC-WT; GAC-U) (“Geneva”) a publicly traded special purpose acquisition company today announced that despite the best efforts of a joint team from GAC and Global High-Tech Industries Limited (GHIL), the target Indian integrated steel producer, they are terminating the efforts to seek shareholder approval for the merger agreement both companies entered into on November 28, 2008. Geneva is also announcing that its Special Shareholder Meeting scheduled for February 11, 2009, is now cancelled and that the liquidation process will begin immediately (instead of waiting for the termination date of February 12, 2009). James McGrath, Geneva’s President, commented, “We are disappointed that the current market conditions overshadowed a company with a promising future and with an exceptional management team such that we could not attract the necessary support from investors to execute GHIL’s growth plan and merge with GAC. We would like to thank GHIL’s management led by Mr. Prakash Rajgarhia, a successful entrepreneur, and a builder with a long-term vision, for all their great efforts and dedication that they have shown during the last few months. With that said, we are acting in the best interest of Geneva’s public shareholders in taking the steps needed for termination of the efforts.” <snip> biz.yahoo.com