GPS Industries, Inc.
OTC Bulletin Board : GPSN

GPS Industries, Inc.

May 15, 2007 07:44 ET

GPS Industries Receives Additional $12.5 Million Investment from Leisurecorp and Greg Norman's Great White Shark Enterprises

Dubai-Based Shareholder Commits to Maximum Follow-On Investment

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 15, 2007) - GPS Industries, Inc (GPSI) (OTCBB:GPSN), the only provider of Wi-Fi powered, advertising enhanced GPS systems for golf facilities, resorts and residential communities, today announced follow-on investments totaling $12.5 million. Dubai-based Leisurecorp LLC is investing an additional $10 million in the Company, representing the maximum additional amount contemplated in an agreement announced November 28, 2006. Greg Norman's Great White Shark Enterprises is investing an additional $2.5 million.

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. In addition to this capital investment in GPS Industries, Leisurecorp has selected the Company's WiStream division to integrate a Wi-Fi network and comprehensive wireless amenities package in Jumeirah Golf Estates.

While the Jumeirah Golf Estates contract includes the purchase of GPSI's Inforemer™ golf course management technology, it more prominently represents a showcase opportunity for the WiStream division's full array of wireless living amenities. This marquee golf lifestyle development will offer networked luxury homes equipped with state-of-the-art wireless solutions, surrounded by four of the world's most artfully crafted golf courses; two of which are being developed in collaboration with Greg Norman Golf Course Design.

"I am an enthusiastic investor in GPS Industries," commented Greg Norman, Chairman and CEO of Great White Shark Enterprises. "I firmly believe the Company and its best-of-breed Inforemer™ Management System are contributing to the improvement of golf operations around the world. I am very optimistic about the company's growth potential in the months and years ahead."

"It is certainly gratifying when strategic investors of this stature tangibly demonstrate their continued confidence in our corporate vision and the value of our various technology solutions," said Robert C. Silzer Sr., President and CEO of GPS Industries. "Given the investment we secured from these strategic partners in December, and this additional $12.5 million, GPS Industries is now fully endowed with the resources to go full-throttle on proliferating both the placement of our Inforemer™ system in the golf industry vertical and WiStream in the community development vertical."

For a description of the terms of the purchase, and the rights of the preferred stock and warrants purchased by Leisurecorp LLC and Great White Shark Enterprises, Inc., see our report on Form 8-K filed with the Securities and Exchange Commission on May 14, 2007. The report can be found at or via the Company's website at

About Great White Shark Enterprises

Great White Shark Enterprises is a multi-national corporation headed by Greg Norman with offices in Jupiter, Fla., and Sydney, Australia. The company's interests are primarily focused around golf and the golf lifestyle. For more information, please visit

About Istithmar

Istithmar is an alternative investment house based in the United Arab Emirates. It is 100% owned by Dubai World, which is in turn wholly owned by the Government of Dubai. Istithmar was established in 2003 with the key mission of earning exceptional returns for its investors while maintaining due regard for risk. Istithmar, which means investment in Arabic, applies global expertise with local insights to coordinate the appraisal and implementation of various opportunities. Istithmar's 'I' investment philosophy is based around three core principles -- Ideas, Inquiry & Integrity -- sets the foundation for the firm which has a broad portfolio of highly successful companies in markets from North America to Europe to Asia to the Middle East. Istithmar's investment portfolio comprises over 50 successful companies with premium assets within financial services, consumer, industrial and real estate sectors, in addition to investing in public equities and joint venture projects. The company's equity investment exceeds US$ 2.6 billion across markets ranging from North America to the Far East. For more information on Istithmar, please visit

About GPS Industries (GPSI)

GPS Industries, Inc. (OTCBB:GPSN) is a technology solutions provider whose customizable, patent-protected applications in GPS and Wi-Fi software and hardware offer superior return on investment in the vertical markets of golf course management and residential community development. In the golf industry vertical, the Company's INFOREMER-HD™ GPS System features an integrated Wi-Fi communications network, award-winning display units delivering the most powerful on-course advertising opportunities in the golf industry, and a comprehensive suite of software applications that empower course management to control expenses and maximize revenues throughout all aspects of course operations. In the community development vertical market, the Company's WiStream applications provide developers with uniquely powerful, community-wide turnkey wireless ISP, asset tracking, security, communications and property sales technology solutions. GPSI owns key patents for these and other GPS and Differential GPS (DGPS) applications in fifteen countries worldwide, including the United States, Australia, Great Britain and Japan. For additional information, please visit:, and

Forward-Looking Statements

Some statements contained in this release may be forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. Editors and investors are cautioned that such forward-looking statements involve risks and uncertainties that may cause the company's actual results to differ materially from such forward-looking statements. These risks and uncertainties include, but are not limited to, the company's ability to generate revenues and other factors as described in the Company's literature and filings with the Securities and Exchange Commission.

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