Geneva Acquisition Corp. Announces January 23, 2009 as Record Date

James McGrath, Geneva's President, commented, "We look forward to working closely with GHIL's management to build the Company into a significant player in the Indian steel industry, starting immediately after the closing of the acquisition."

About Geneva Acquisition Corporation & Global Hi-Tech

Geneva Acquisition Corporation is a blank check company whose objective is to effect a merger, capital stock exchange, asset acquisition or other similar business combination with an operating business. On November 28, 2008, Geneva announced that it has entered into a definitive agreement to acquire privately held GHIL, an Indian integrated steel producer.

The closing of the transaction is subject to approval by the stockholders of Geneva Acquisition Corporation. In accordance with Geneva's certificate of incorporation, the transaction will be consummated if not more than 20% of the shares of Geneva vote against the acquisition and elect to convert their shares into cash.

This press release contains statements which constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Those statements include statements regarding the intent and belief or current expectations of Geneva and GHIL and their respective management teams. These statements may be identified by the use of words like "anticipate", "believe", "estimate", "expect", "intend", "may", "plan", "will", "should", "seek" and similar expressions. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements. Important factors that could cause actual results to differ materially from Geneva's and GHIL's expectations include, without limitation, the failure of Geneva's stockholders to approve transaction with GHIL, the number and percentage of Geneva's stockholders voting against the transaction with GHIL and electing to exercise their redemption rights, changing interpretations of generally accepted accounting principles, costs associated with continued compliance with government regulations, legislation and the regulatory environment, the continued ability of GHIL to successfully execute its business plan, the amount of capital actually deployed into the expansion plan, demand for the products and services GHIL provides, general economic conditions, geopolitical events and regulatory changes, as well has other relevant risks detailed in Geneva's filings with the Securities and Exchange Commission (the "SEC"). Geneva and GHIL undertake no obligation to publicly update any forward-looking statements for any reason, even if new information becomes available or other events occur in the future.

SOURCE: Geneva Acquisition Corp.

Geneva Acquisition Corporation James E. McGrath, 617-361-6530 jmcgrath@geneva-spac.com John Rousseau, 617-472-2805 X 8410 jrousseau@geneva-spac.com or Investor Relations: The Equity Group Inc. Lena Cati, 212-836-9611 lcati@equityny.com Linda Latman, 212-836-9609 llatman@equityny.com