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FOR IMMEDIATE RELEASE

GLOBAL VR SIGNS THREE GAME DEVELOPMENT DEAL WITH GAMEBOX AGREEMENT GIVES GLOBAL VR WORLDWIDE EXCLUSIVE RIGHTS TO GAMEBOX TECHNOLOGY FOR ARCADE INDUSTRY

July 15, 2001 -- San Jose, CA -- Global VR announced that it has signed an exclusive agreement with Gamebox EnT, Inc. of Korea to jointly develop three distinct arcade games utilizing Gamebox's patented DreamGun technology. Gamebox recently unveiled it's the DreamGun at the E3 conference in Los Angeles, the world's largest trade show for the gaming industry. The DreamGun allows players to navigate through a virtual computer-generated environment by utilizing controls built into the gun.

These are the games currently in development:

Gamebox is a research and development company for next-generation computer game devices. Gamebox has either issued or pending patents on the following technologies: 3-D curvilinear co-ordinate survey technology, wireless interface, location sensor, full 360 degree target locating technology, digital conversion of motion, recoiling system, VR interface design, and a network solution for the games. Gamebox is also the developer of the new software titles, including Wild Hunting and Gun Survivor games. The first line of these games will be launched by December, 2001.

GLOBAL VR is the leading manufacturer of virtual reality arcade games. The company's VR Vortek is the world's first walk-up, coin-operated virtual reality system. Utilizing a PC platform with a boom-mounted display, the VR Vortek offers location owners the benefit of infinitely interchangeable titles in a non-attended simulator. Offered in the VR Vortek Deluxe, Standard and 3D cabinets, VR Vortek offers players a truly immersive 3D experience with force-feedback and is now available with three different software titles: Heavy Gear II, SIN and Beachhead 2000.

GLOBAL VR also recently unveiled two new football simulators, Red Zone Offense and Split the Uprights. Based on a proprietary motion sensor technology, players use a real football to either throw touchdowns or kick field goals in a virtual football stadium.

For further information please contact:

Wes Harris
Phone: (408) 597-3400 ext: 2443
Fax: (408) 597-3431
Email: wharris@globalvr.com

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