<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>cic8kex991040108.txt
<TEXT>
CabelTel
International Corporation


                                                                    Exhibit 99.1


For Immediate Release                                    Contact: Oscar Smith
                                                                  Gene Bertcher
                                                                  (972) 407-8400


                       CABELTEL INTERNATIONAL CORPORATION
                              REPORTS 2007 RESULTS

Dallas, Texas (Business Wire) March 31, 2008: CabelTel International Corporation
(AMEX:  GBR,  "the  Company"),  a  Dallas-based  company with  investments  in a
retirement center and oil and gas leases, today reported a net income of $62,000
or $0.06 per share for the twelve  months ended  December 31, 2007,  compared to
net  income of  $1,301,000  or $1.32 per share for the year ended  December  31,
2006. Net income from continuing operations for the same periods was $689,000 or
$0.70 per share in 2007 and $1,811,000 or $1.83 per share in 2006.

Revenues and  Operating  Expenses  from  operations  of a  retirement  facility:
Revenues  were $3.0  million as  compared to $3.0  million in 2006.  Real estate
operating  expenses,  which  consist of  retirement  operations  expense,  lease
expense and  depreciation and  amortization,  were $2.2 million in both 2007 and
2006.

Corporate General and  Administrative  Expense:  These expenses were $796,000 in
2007 and $1.1  million in 2006.  2007  includes  $29,000  for prior year  income
taxes. 2006 included  approximately  $80,000 in payroll and consulting fees that
were not  incurred  in 2007.  In  general  there  was an  overall  reduction  in
administrative  costs in the  latter  part of 2006  which has had the  effect of
lowering administrative costs in 2007

Interest  Income:  Interest  income was  $112,000 in 2007 and  $447,000 in 2006.
During 2006, the Company recorded  interest income of $307,000 from funds it had
advanced  to CableTEL AD for  operations  and  acquisitions  in  Bulgaria.  (See
interest expense below).

Interest  Expense:  Interest  expense was $73,000 in 2007 and  $486,000 in 2006.
During the first  quarter of 2006,  the  Company  recorded  interest  expense of
$307,000 on loans it made to acquire  funds  which were  provided to CableTEL AD
for operating expenses. The interest expense equaled the interest income.

Gain on sale of assets:  In November 2007, the Company sold a  participation  in
the  future  cash flow of its  retirement  community  in King  City,  Oregon and
recorded a gain of $750,000.




<PAGE>


Other  Income  (Expense):  Other income was $142,000 in 2007 and $2.6 million in
2006. In June 2006,  the Company  rescinded its  acquisition  of CableTEL AD and
received  a break up fee of  $1,500,000  which  resulted  in net  income,  after
deducting  expenses of  $1,467,000.  In addition,  in November 2006, the Company
settled another obligation and recorded a gain on such settlement of $1,021,000.
Additionally, the Company collected certain payments on certain receivables that
were previously written off.

Discontinued  Operations:  During 2007, the Company transferred ownership of the
Gainesville Outlet Mall to an unrelated third party.

      Certain   statements  in  this  media   release  are   forward-looking
      statements  within the  meaning of the Private  Securities  Litigation
      Reform Act of 1995,  Section 27A of the  Securities  Act of 1933,  and
      Section  21E  of  the  Securities  Exchange  Act of  1934.  The  words
      "estimate",  "plan", "intend", "expect",  "anticipate",  "believe" and
      similar   expressions   are   intended  to  identify   forward-looking
      statements.  These  forward-looking  statements  are found at  various
      places  throughout this release.  CabelTel  International  Corporation
      disclaims  any  intention  or  obligation  to  update  or  revise  any
      forward-looking  statements,  whether as a result of new  information,
      future events or otherwise.  Although we believe that our expectations
      are based upon reasonable  assumptions,  we can give no assurance that
      our goals will be  achieved.  Important  factors  that could cause our
      actual results to differ from  estimates or projects  contained in any
      forward-looking  statements are described  under ITEM 1A. RISK FACTORS
      in the  Company's  Form 10-K for the fiscal  year ended  December  31,
      2007.



<PAGE>



               CabelTel International Corporation and Subsidiaries


                           CONSOLIDATED BALANCE SHEETS
                             (Amounts in thousands)




                                                          December 31,
Assets                                                  2007     2006
                                                       ------   ------
Current assets

    Cash and cash equivalents                          $  172   $  324
    Note and interest receivable - related party        2,200    1,428
    Other current assets                                    8       36
    Assets held for sale                                 --      7,047
                                                       ------   ------
                       Total current assets             2,380    8,835

Investment in Mineral Rights                            6,848     --

Property and equipment, at cost

    Land and improvements                                  20       20
    Buildings and improvements                            172      169
    Equipment and furnishings                             336      290
                                                       ------   ------
                                                          528      479


    Less accumulated depreciation                         397      364
                                                       ------   ------
                                                          131      115

Deferred tax asset                                        250      491

Other assets                                              177      261
                                                       ------   ------
Total Assets                                           $9,786   $9,702
                                                       ======   ======




                             Exhibit 99.1 - Page 1
<PAGE>


               CabelTel International Corporation and Subsidiaries

                     CONSOLIDATED BALANCE SHEETS - CONTINUED
                  (Amounts in thousands, except share amounts)







Liabilities And Stockholders' Equity

                                                               December 31,
                                                           --------------------
                                                             2007        2006
Current liabilities                                        --------    --------

    Accounts payable - trade                               $     90    $    439
    Accrued expenses                                            175         124
    Liabilities held for sale                                  --         6,642
                                                           --------    --------

                      Total Current Liabilities                 265       7,205


Long-term debt - related party                                6,921        --

Other long-term liabilities                                     459         418

                                                           --------    --------

                          Total liabilities                   7,645       7,623

Stockholders' equity
    Preferred stock, Series B                                     1           1
    Common stock, $.01 par value; authorized, 100,000,000
       shares; issued and outstanding, 986,939 shares at
          December 31, 2007 and 986,953 shares at
          December 31, 2006                                      10          10
    Additional paid-in capital                               55,992      55,992
    Accumulated deficit                                     (53,862)    (53,924)
                                                           --------    --------

                                                              2,141       2,079
                                                           --------    --------

Total Liabilities & Equity                                 $  9,786    $  9,702
                                                           ========    ========


                             Exhibit 99.1 - Page 2


<PAGE>


               CabelTel International Corporation and Subsidiaries

                      CONSOLIDATED STATEMENTS OF OPERATIONS
                (Amounts in thousands, except per share amounts)





                                                           2007       2006
Revenue                                                   -------    -------
    Real estate operations                                $ 2,984    $ 3,033
                                                          -------    -------

Operating expenses
    Real estate operations                                  1,315      1,300
    Lease expense                                             845        939
    Corporate general and administrative                      796      1,091
                                                          -------    -------
                                                            2,956      3,330
                                                          -------    -------

                      Operating earnings (loss)                28       (297)

Other income (expense)
    Interest income                                           112        447
    Interest expense                                          (73)      (486)
    Gain (loss) on sale of assets, net                        750       --
    Other income (expense), net                               142      2,584
                                                          -------    -------
                                                              931      2,545
                                                          -------    -------

             Earnings (loss) from continuing operations       959      2,248
          Provision for income taxes                         (270)      (437)
                                                          -------    -------

          Net income (loss) from continuing operations        689      1,811


Discontinued operations
    Loss from operations                                     (101)      (786)
    Gain (loss) from sale of assets                          (526)       276
                                                          -------    -------

       Net loss from discontinued operations                 (627)      (510)
                                                          -------    -------

Net income (loss) applicable to common shares                  62      1,301
                                                          =======    =======

Earnings (loss) per common share - basic and diluted
    Continuing operations                                 $  0.70    $  1.83
    Discontinued operations                                 (0.64)     (0.51)
                                                          -------    -------
                    Net earnings (loss) per share         $  0.06    $  1.32
                                                          =======    =======

Weighted average common and equivalent shares
    outstanding - basic and diluted                           987        987




                             Exhibit 99.1 - Page 3
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