SOURCE: GPS Industries, Inc.

October 03, 2005 06:30 ET

The Updated Cohen Independent Research Group Gives GPSN Positive Review

VANCOUVER, BC -- (MARKET WIRE) -- October 3, 2005 -- GPS Industries Inc. (OTC BB: GPSN) (Frankfurt WKN#:252179), golf's worldwide patent holder for GPS technology and a leading hardware and software innovator and developer of the USGA and the R&A-approved next-generation golf course GPS systems, and already named the "Technology Product of the Year 2004" by the golfing industry's Association of Private Club Directors and Boardroom Magazine, has been upgraded by the Wall Street's #1 independent research firm.

The Cohen Independent Research Group rates GPSN a "Buy," with a long-term target price of $1.10 to $1.30. The updated report can be seen at www.cohenresearch.com.

"We have positioned this company for explosive growth," says GPSN CEO Robert Silzer Sr.. "From our carefully selected management team and board of directors, that is made up of industry leaders, top golfing professionals, and is informed by a combined wisdom of over 200 years in the golfing industry, to our partnership with legendary golfer Greg Norman's Great White Shark Enterprises and CBS Sportsline, to our recently installed business solution software from Microsoft partner Tectura using its new Microsoft Great Plains ERP software system. We have everything in place.

GPSN provides total business solutions for golf courses, with award-winning GPS hardware, software and the ability to create wireless "Wi-Fi" Internet hot spots covering entire residential developments surrounding resort-style golfing communities. "We are a one-stop GPS system and Wi-Fi business solution," says Silzer. "Our hardware, our software and our patents position us to become the worldwide leader in this new technology. The future of golf is GPS systems, and we are creating that future one golf course at a time."

GPS Industries, Inc.

GPS Industries, Inc. (GPSI) develops and markets GPS and Wi-Fi wireless multimedia solutions to enable managers of golf facilities, resorts, sporting events, and residential communities worldwide to generate significant new revenue streams and improve operational efficiencies. The company's unique and patented Inforemer™ product line provides a complete GPS golf business solution, combining a powerful backend management information system and revenue-generating modules with mobile color handheld or cart-mounted Differential GPS units, seamlessly connected via a wireless, high-speed Wi-Fi network. GPSI's Board of Directors includes legendary golfer and businessman Greg Norman. For additional information on GPSI and its solutions, please visit www.gpsindustries.com.

Forward-Looking Statements

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially as a result of certain risks and uncertainties. These risks and uncertainties include, but are not limited to: The Company's ability to raise finance; global and market conditions within the golf industry; demand for and market acceptance of new and existing products; successful development of new products; the timing of new product introductions; pricing pressures and other competitive factors; the ability to develop and implement new technologies and to obtain protection for the related intellectual property; as well as other risks and uncertainties, including but not limited to those detailed from time to time in the company's Securities and Exchange Commission filings. These forward-looking statements are made only as of the date hereof, and the company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise. Other brands and names contained in this release are the property of their respective owners.

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