Leisurecorp hails binding agreement to acquire, world's second largest GPS management system provider

GPS Industries Inc. (GPSI) (OTC BB: GPSN.OB), the world's leading provider of WiFi-enabled golf management systems and targeted on-course media announced late last week the signing of a binding agreement to acquire UpLink Corporation, including the customer base and all intellectual property assets, trademarks and patents. Both parties have agreed to immediately operate the business as a 'merged' entity, under the corporate identity of GPS Industries, Inc., with final elements of the transaction to be concluded by October 31, 2007.

Acquisition comprised of cash, the assumption of debt, and the issuance of restricted shares (valued at 12 cents)

Consolidates leading technology and intellectual property in the golf industry

Brings GPS Industries' installed base of Golf Management Systems to a total of almost 340 leading golf courses worldwide

Creates a narrowcast media network that reaches a targeted audience of more than nine million golfers annually

Enhances GPSI patent portfolio, adding patents for position-based advertising and onscreen display options on golf courses to long-held GPS and DGPS patent holdings

"IQ Link" cart control application furthers competitive advantage of Company's Inforemerâ Golf Management System

Since 1998, UpLink Corporation has developed and marketed GPS golf management solutions. UpLink has been the exclusive GPS partner to Club Car, Inc., a division of Ingersoll-Rand, a Fortune 500 company and the golf industry's leading provider of golf cars and utility vehicles. In 2003, UpLink introduced, and owns the exclusive patent rights to, IQLinkä, the first integrated satellite car control and monitoring application.

"IQLink is certainly a compelling feature of UpLink's technology," said GPSI President and CEO, Bob Silzer. "Course operators place tremendous value on the ability to control access to potentially dangerous or environmentally sensitive areas of their property. It has been a key differentiator of the UpLink product and adding this to our technology portfolio will only further the advantage our Inforemerâ Management System has over others in the market."

UpLink also owns the patents for position-based advertising and onscreen display options to players on golf courses. This valuable Intellectual Property strongly contributed to GPS Industries decision to acquire the Austin, Texas based firm. Earlier this year GPS Industries launched an in-house media sales division to develop the advertising potential of the Inforemerâ cart-mount display panels.

"Our 10.4-inch LCD screens are the very best in the industry and represent a natural narrowcast network," adds Silzer. "We recently launched our InforeMedia division to capitalize on this recurring revenue opportunity and we expect UpLink's advertising patents will enhance our ability to assert dominance in this aspect of our business. Obviously, with the acquisition of UpLink's 210 golf courses we have greatly expanded the size of the audience we can deliver to national advertisers, which grows that revenue opportunity exponentially."

Existing customers of both firms will enjoy enhanced 24-7 support as a result of merged international service teams. "Customer service has been a hallmark of both companies" said UpLink CEO Glenn Pierce. "In fact it's one of the shared values that make this a truly synergistic merger. The trust and confidence of our customers is central to the success we have both enjoyed and will be a key factor in continuing the gains we have both achieved."

GPSI's Silzer amplified that statement: "Certainly the quality of our service and support sets us apart in the industry. That is only going to strengthen as we move forward. We also now possess broader, deeper sales coverage in all key markets so our visibility and penetration on every level will be heightened."

"Both companies also have strong relationships with key industry organizations," continued Silzer, "including the National Golf Course Owners Association and the PGA of America. Leading management companies like Troon, Kemper Sports, Disney, Billy Casper Golf and Marriott have chosen our solutions. Our high-standard of service and financial stability have been important factors in their decisions."

David Spencer, chief executive of Leisurecorp, welcomed the news, saying, "We invested in GPS Industries because we believed it offered some of the best technology in the industry today. With this acquisition, the company establishes itself even further at the forefront of the sector."

Legendary golfer and global entrepreneur Greg Norman, who is designing three of the four courses at Jumeirah Golf Estates, enthusiastically supports the acquisition: "As a GPS Industries Investor/Advisor, I am very pleased with the pending acquisition. I believe this will further enhance the ability of course operators to maximize profits and help grow the game around the world."