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FOR IMMEDIATE RELEASE
GLOBAL VR ESTABLISHES "BEACHHEAD" WITH DAVE AND BUSTER'S VR VORTEK PURCHASE IS SECOND LARGEST IN GLOBAL VR HISTORY
September 1, 2001 -- San Jose, CA -- GLOBAL VR announced today that it has received an order from Dave and Buster's for 30 of its VR Vortek virtual reality system. Financial terms of the transaction were not disclosed. "Dave and Buster's is one of the premier operators in our industry," said Milind Bharvirkar, President of GLOBAL VR. "We have been talking to them about rolling out the VR Vortek in their locations for over a year now. When the recently completed test of Beachhead in their Milpitas location earned even more than they expected, we knew it was just a matter of time."
"In August, 2001 senior management from Dave and Buster's visited GLOBAL VR's headquarters in San Jose. During that visit they welcomed GLOBAL VR to the Dave & Buster's family with a congratulatory handshake. "After that, the purchase orders began to roll in," Milind continued. "We have been told that they are going to put at least two of our VR Vortek units in each of their 29 locations."
Founded in 1982, Dave & Buster's is one of the country's leading upscale restaurant and entertainment concepts with 29 locations throughout the United States. In addition, Dave & Buster's has international license agreements for the Pacific Rim, Canada, the Middle East and Mexico. Dave & Buster's stock is traded on the NYSE under the symbol DAB. Further information on the Company can be found on its Web site, www.daveandbusters.com.
GLOBAL VR is the leading manufacturers 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, the system offers players a truly immersive, 3D experience with force-feedback and is now available with three different software titles: Heavy Gear II, SIN and the recent top-earner, Beachhead 2000.
GLOBAL VR recently announced a four year deal with Electronic Arts to develop a series of games based upon EA SPORTS Tiger Woods PGA Tour and will begin production of two new football simulators, Red Zone Offense and Split the Uprights. Based on a patented 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:
Phone: (408) 597-3400 ext: 2443
Fax: (408) 597-3431
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