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FOR IMMEDIATE RELEASE
GLOBAL VR SIGNS COIN-OP DEAL WITH ELECTRONIC ARTS FOR TIGER WOODS PGA TOUR GOLF GAME
FOUR-YEAR LICENSE AGREEMENT GRANTS GLOBAL VR WORLDWIDE EXCLUSIVE RIGHTS TO CREATE COIN-OP GOLF GAMES
January 16, 2002 -- San Jose, CA -- Global VR, a privately-held manufacturer of coin-operated video games and virtual reality game systems, announced a four-year worldwide license agreement with Electronic Arts (NASDAQ: ERTS) that allows for the creation of a series of coin-operated games based upon the EA SPORTS Tiger Woods PGA TOUR® Golf titles. Financial terms of the agreement were not disclosed.
GLOBAL VR's agreement with EA grants GLOBAL VR exclusive rights to develop coin-operated versions of EA SPORTS Tiger Woods PGA TOUR Golf games. In addition, GLOBAL VR has the right to use current and future assets created by EA for the Tiger Woods PGA TOUR Golf PC games for its coin-operated games.
GLOBAL VR's first product under this agreement will be an Internet-capable tournament coin-op version of EA SPORTS Tiger Woods PGA TOUR Golf. The game will feature Tiger Woods and other well-known TOUR players such as Stuart Appleby, Mark Calcavecchia, Justin Leonard and Mark O'Meara. Players will have the ability to play on several Tournament Players Club (TPC) courses, Las Vegas Country Club and others. Players can also choose from a variety of fantasy courses developed exclusively for the arcade version of the game.
The game will debut to the trade on January 22, 2002 at the Amusement Trades Exhibition International (ATEI) at Earls Court Exhibition Centre in London, England.
"This is an exciting opportunity for GLOBAL VR," said GLOBAL VR President Milind Bharvirkar. "While EA SPORTS Tiger Woods PGA TOUR Golf is by far the best golf game ever created, any game created for the home market needs significant changes in order to meet the rigorous demands of the coin-op industry. GLOBAL VR is the world leader in converting video games designed for the home market into top-earning arcade games. Our latest release for our VR Vortek platform, Beachhead, is currently the number-one earning game in the industry for operators."
"We are delighted to have the industry leader in the arcade space bringing the leading consumer golf video game to a whole new audience and exposing them to the fun of interactive golf," said EA SPORTS Marketing Director Jillian Goldberg.
Points of differentiation for Global VR's EA SPORTS Tiger Woods PGA TOUR Golf game:
About GLOBAL VR
Global VR Inc. (http://www.globalvr.com) develops, manufactures and sells products for the interactive entertainment industry. Founded in 1998, the company is based in San Jose, California, and has approximately 30 full-time employees. Its customers include Namco Cybertainment, operator of over 75,000 games at over 2,000 sites worldwide; Dave and Busters, a leading U.S.-based chain of upscale restaurants-entertainment venues; and Mountain Coin Distributing, one of the coin-op industry's largest national distributors. Global VR has product development arrangements with Electronic Arts (NASDAQ: ERTS) and Activision Inc. (NASDAQ: ATVI).
About Electronic Arts
Electronic Arts (NASDAQ: ERTS), headquartered in Redwood City, California, is the world's leading interactive entertainment software company. Founded in 1982, Electronic Arts posted revenues of more than $1.3 billion for fiscal 2001. The company develops, publishes and distributes software worldwide for the Internet, personal computers and video game systems. Electronic Arts markets its products under four brand names: EA SPORTS, EA GAMES, EA SPORTS BIG and EA.COMSM. More information about EA's products and full text of press releases can be found on the Internet at http://www.info.ea.com.
For further information please contact:
Phone: (408) 597-3400 ext: 2443
Fax: (408) 597-3431
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