New Company Named “GlobalOptions Fraud & SIU Services”

NEW YORK, December 13, 2006 – GlobalOptions Group (OTCBB: GLOI.OB) announced that it is combining its two industry-leading investigative units, CBR and Hyperion Risk. Effective immediately, the Nashville-based company will be known as GlobalOptions Fraud & SIU Services.

The new GlobalOptions division, GlobalOptions Fraud & SIU Services, will now offer the market a broader range of services to help its client companies manage their insurance fraud.  Included among GlobalOptions Fraud & SIU Services capabilities are: claims and background investigations services; on-scene accident investigations; corporate investigations; surveillance; fraud reporting; regulatory compliance; and vendor manager. In addition, the company’s proprietary program, GlobalTrak™, will allow a company to link case information to large loss reports, authority requests or client approval requests, and to access, share and run a variety of quantitative reports using up-to-the-minute data.

The new division was formed following the acquisition of Hyperion Risk by GlobalOptions in August, 2006, when it was folded into CBR, an insurance investigative company led by Halsey Fischer.  Florida-based Hyperion Risk was led by founder Frank Pinder, who now joins Halsey Fischer in the management of the new entity as Executive Vice President.

“It makes absolute sense for us to combine capabilities,” said Halsey Fischer, President of GlobalOptions Fraud & SIU Services and former president of CBR. “The integration of our services ensures the most comprehensive range of fraud management and SIU services in the industry, with each of our former company’s areas of expertise complementing the other.”

Frank Pinder, the founder and former president of Hyperion Risk, agrees with Fischer’s assessment.  “Each company had its strengths individually, but now we have the potential to become the power-house service provider in this space – a win-win for us and for our clients.”

“This is consistent with our corporate strategy of integrating our core competencies into a unified solutions provider which allows us to maximize our capabilities to both current and future clients,” said Harvey Schiller, CEO of GlobalOptions Group. “By renaming this company, we want to underscore the depth of experience and expertise we offer the marketplace.” 

 

About GlobalOptions Fraud & SIU Services

A division of GlobalOptions Group, GlobalOptions Fraud & SIU Services is a regionally-managed, national provider of anti-fraud program support services, including surveillance, fraud protection, investigations and vendor management.  The company’s web-based GlobalTrak technology revolutionizes SIU reporting, communications and program management, providing clients with real-time case and program information and up-to-the-minute quantitative reports. Headquartered in Nashville, TN, GlobalOptions Fraud & SIU serves insurers, law firms, third party administrators, governments and corporate entities nationwide.

About GlobalOptions Group, Inc.

GlobalOptions Group, with headquarters in New York City and offices in 16 cities, is a provider of high-end risk assessment and mitigation services to Fortune 1000 corporations, governmental organizations, and high-profile individuals throughout the world.  GlobalOptions Group’s services currently include risk management and security, investigations and litigation support, and crisis management.  These engagements take GlobalOptions Group staff around the world and are typically highly-sensitive engagements where GlobalOptions Group is interacting with senior leaders in corporations and governments.  Its overall mission is to identify, evaluate, assess, prevent and correct issues that may threaten people, organizations or strategic initiatives for corporations or governments.  Additional information can be found at www.globaloptionsgroup.com.

 

Statements in this press release regarding the company's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. The company wishes to caution readers not to place undue reliance on such forward-looking statements, which statements are made pursuant to the Private Securities Litigation Reform Act of 1994, and as such, speak only as of the date made. To the extent the content of this press release includes forward-looking statements, they involve various risks and uncertainties including the successful integration of acquired businesses and revenue run rates.  Certain of these risks and uncertainties will be described in greater detail in GlobalOptions Group’s' filings with the Securities and Exchange Commission. GlobalOptions Group is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise.