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Former Sega Exec Appointed GLOBAL VR Vice President, Finance

SAN JOSE, Calif., March 11, 2005 — Robert Giovannettone (Bob G to his friends and colleagues) has joined GLOBAL VR® as Vice President of Finance. Bob's entertainment and gaming background has involved associations with such notable leaders as Sega Enterprises/Sega GameWorks, Universal Studios, Time-Warner, Lorimar Productions, and Deloite Touche.

Bob possesses a great deal of financial and operating expertise, including cash management, credit and collections, budgeting and accounting, forecasting, cost savings, warehouse management, competitor and market analysis, mergers and acquisitions and capital restructuring. "We are fortunate to have someone with Bob's experience onboard," says GLOBAL VR President, Brad Nelson. "Bob will be very instrumental in reviewing our internal organization as we seek to refine our business processes."

Some of Bob's career experience includes four years in executive financial positions with Sega GameWorks and Sega Enterprises where he was responsible for financial functions, preparation of business models, and organization and management of the finance department; and eight years as Senior Vice President of MCA Enterprises where he helped orchestrate the development of Universal Studios Theme Park in Japan. Giovannettone contributed through market research analysis, business plan preparation, economic impact studies and investor/municipalities negotiations.

"We are looking forward to working with Bob. His valuable experience and established relationships with our industry partners will be very helpful to GLOBAL VR in this stage of our growth," says company CEO, Milind Bharvirkar.

For further information please contact:

Barb Roy
Phone: (408) 597-3400 ext: 2409
Fax: (408) 597-3431


Founded in 1998 and headquartered in San Jose, California, GLOBAL VRŽ is the world's leading manufacturer of coin-operated video games based on home gaming technology. With an exploding home gaming market, GLOBAL VRŽ is leveraging massive investment in development of home games and triggering a renaissance in the out-of-home video game industry. GLOBAL VRŽ has development agreements with the world's leading game publishers Electronic Arts (NASDAQ:ERTS), Activision (NASDAQ:ATVI) and Atari (NASDAQ:ATAR) that provide exclusive rights to create coin-op versions of popular home games such as EA SPORTS™ PGA TOURŽ GOLF, EA GAMES™ NEED FOR SPEED™, Beach Head and Operation Blockade. All other names and trademarks are property of their respective owner(s).

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