Exercise of Options and Director Shareholding

GLOBAL ENERGY DEVELOPMENT PLC

(the "Company")

EXERCISE OF OPTIONS AND DIRECTOR SHAREHOLDING

The Company announces that it received a notice of exercise on 28 March 2011 from Mr. Alan Henderson, a Director of the Company, in respect of an option (the "Option") to acquire 30,000 ordinary shares of the Company ("Ordinary Shares") at an exercise price of 54.5 pence per Ordinary Share granted under the rules of the Company's Employee Share Option Scheme (the "Scheme"). The Option was exercised in respect of 10,765 Ordinary Shares, resulting in the issue of 10,765 Ordinary Shares (the "New Shares") to Mr. Henderson. In accordance with the Rules of the Scheme, the aggregate exercise price payable in respect of the New Shares was funded by the cancellation of the Option in respect of 19,235 Ordinary Shares (being the balance of the Option). The aggregate nominal value of the New Shares (being £107.65) was paid by Mr. Henderson in cash.

Following this exercise, Mr. Henderson has a beneficial interest in 25,292 Ordinary Shares representing 0.07% of the issued share capital of the Company.

Application has been made for the New Shares to be admitted to trading on AIM and admission is expected to occur on 18 April 2011. The New Shares will rank pari passu with the existing Ordinary Shares of the Company.

Following admission, the issued share capital of the Company will be 35,766,774 Ordinary Shares.

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Global Energy Development PLC

Buchanan Communications

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