Construction/Building — August 27, 2010

Global Summit Real Estate Inc. Announces Dividend

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 27, 2010) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Global Summit Real Estate Inc. ("Global Summit") today announced that Global Summit's Board of Directors has declared a dividend of $0.011281 per voting and non-voting common share of Global Summit payable on August 31, 2010 to shareholders of record on August 27, 2010. Valued at $27 million, these dividends will be eligible for Canadian tax purposes.

About Global Summit Real Estate Inc.

Global Summit is a real estate development company and currently has an indirect interest in a real estate development projects located in downtown Toronto, Ontario.

For more information, please contact

Global Summit Real Estate Inc.
Les Fovenyi
Chief Financial Officer
604-408-7080
info@globalsummit.ca

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