Dubai Investor Leisurecorp Strengthens Support of GPSI With Two Senior Appointments
Vancouver, CANADA: September 4, 2007 – GPS Industries, Inc. (GPSI) (OTC BB: GPSN.OB), the world’s leading provider of WiFi-enabled golf management systems and targeted on-course media, is pleased to announce that Geoff Hunter has been added to the Company’s Board of Directors and Marc Potter has been transferred to the corporate Head Office in Vancouver to assume the role of Executive Vice President.
Both appointments have been made by the Company’s majority shareholder, Leisurecorp of Dubai. Leisurecorp is part of the Istithmar group. Istithmar is an alternative investment house based in the United Arab Emirates (UAE), it is 100 percent owned by Dubai World, which is in turn wholly owned by the Government of Dubai. Istithmar began its business partnership with GPSI in November 2006 when its Leisurecorp, division and golf legend Greg Norman’s company Great White Shark Enterprises jointly acquired 1,574,089 issued GPSI Series B convertible preferred shares and related warrants for $15.7 million.
GPSI provides Wi-Fi enabled global positioning systems (GPS) for golf courses and residential communities and has been contracted by Leisurecorp as a technology provider to the renowned Jumeirah Golf Estates development in Dubai.
The Company’s newest Board member, Geoff Hunter, has for the last 10 years been involved in various senior management positions within the Sports Industry. He was employed from January1999 as General Manager of a retail/distribution/lifestyle company where he was responsible for over 30 brands, including Reebok, Speedo, Umbro, Rockport and Quiksilver. In 2004 he was appointed as General Manager for a Golf distribution company who distributed exclusively throughout the Middle East and had many of the top golf brands including Callaway, Mizuno and Cleveland and Ashworth and Cutter and Buck apparel. Mr Hunter is currently employed with Leisurecorp as Senior Manager-Commercial Operations and has been in this position for 6 months.
Marc Potter, GPSI’s new Executive Vice President, has more than 10 years of high-end experience in golf course management and operations across Australia, Asia, Africa and Europe. He joined Dubai World in 2005, where he has been responsible for directing operations at all of the Group’s leisure-related assets.
Commenting on Marc Potter’s transfer to the GPSI’s head office, David Spencer, Chief Executive of Leisurecorp, said: "As a major shareholder within GPSI we have made this secondment with the aim of strengthening the existing partnership and sharing resources of expertise. Our relationship with GPSI is not only about a financial investment; it is about helping the business to grow.
"Having Marc actively involved in supporting the operation of the company makes obvious commercial sense" added Spencer "and his extensive knowledge and skills will help GPSI to maximize returns to stakeholders. I look forward to working closely with Marc on both an operational and strategic level and am confident that, with his support, our partnership with GPSI will reach its full potential."
Robert Silzer, Sr. President and CEO of GPS Industries, said "We are delighted that Marc has joined our team and that Leisurecorp is integrating a member of their group into our management staff. Marc has been a member of our board since late December 2006 and it will be beneficial to have him play a more active executive role in the business."
About Leisurecorp
Leisurecorp is a wholly-owned subsidiary of Istithmar PJSC, the investment company of Dubai World. Leisurecorp, which was established in July 2006, is responsible for identifying, acquiring and developing leisure- and lifestyle-related investments in Dubai and across the world. Its portfolio includes Dubai’s premier residential golf community, Jumeirah Golf Estates, which will open in 2008; Pearl Valley Signature Golf Estate and Spa, South Africa’s leading residential golf community, which will host the SAA South African open in December 2007; a major shareholding in Island Global Yachting, the premier owner, developer and manager of luxury marinas; and a shareholding in GPS Industries, the provider of Wi-Fi enabled global positioning systems (GPS) for golf and residential communities.
About Istithmar
Istithmar PJSC is the investment company of Dubai World. It is 100 per cent owned by Dubai World, which is in turn wholly owned by the Government of Dubai. It has an investment portfolio which includes more than 50 successful companies. The real estate business aims to acquire and manage a distinguished and diversified portfolio of properties in commercial property, hotels and resorts, the leisure sector and in retail. Existing investments include Kerzner Group, International Hotel Investments, Mandarin Oriental in New York, The Adelphi in London, Jumeirah Golf Estates and Cape Town’s V&A Waterfront.
About GPS Industries (GPSI)
GPS Industries, Inc. (OTCBB: GPSN) is a global media and technology solutions provider. In the golf industry, the Company’s Inforemerï?¢ GPS Management System features an integrated WiFi communications network, a comprehensive suite of management tools, and award-winning cart-mounted display units that provide an enriched playing experience for golfers and a lucrative advertising opportunity for the Company and its client facilities. In the community development vertical, the Company’s WiStreamâ?¢ division implements WiFi coverage for residential communities, creating a wireless ‘hot-spot’ which sup-ports an unique array of WiFi amenities: wireless internet connectivity, location tracking devices, wireless security protection, VOIP phones, mobile point-of-sale systems, and an interactive real estate sales tool. The Company owns key patents for many important GPS and Differential GPS (DGPS) applications in fifteen countries worldwide, including the United States, Australia, Great Britain and Japan. For addition-al information, please visit www.gpsindustries.com.
Contact:
Steve Barrett
Chief Marketing Officer
604-576-7442
steven@gpsindustries.com
Ryan Gray
Investor Relations
310-276-6743
ryan@gpsindustries.com
