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FOR IMMEDIATE RELEASE

GLOBAL VR PROMOTES INDUSTRY VETERAN TO HEAD PRODUCT DEVELOPMENT

SAN JOSE, Calif., August 31, 2005— GLOBAL VR announced today that industry veteran, John Ray, has been promoted to the newly created position of Vice President and Executive Producer. In his new role, John will be responsible for directing all of GLOBAL VR’s game development efforts, from design document creation, through launch.

With nearly thirty years in the arcade industry, John Ray has demonstrated his excellence in game design and development, having produced such notable hits as Rush Ô, the US arcade version of Tetris Ô and the most recent Global VR hit, Need For Speed Underground.

“John’s strong project management skills coupled with his vast knowledge of the coin-op industry make him uniquely qualified to lead our product development effort,” commented Jim DeRose, GLOBAL VR’s President, CEO and Chairman. “I’m confident that with John’s talent and dedication to excellence GLOBAL VR will provide the industry with exciting new games that are delivered on-time and unmatched in quality and revenue potential.”

Asked for comment, Mr. Ray stated: “I am thrilled to have the opportunity to lead product development at Global VR, particularly at this point in the company’s history. We have a renewed commitment to the industry, an exciting line-up of new projects and a strong team in place. I am very excited about our future.”

With the promotion of Ray, the company also announced that Aaron Baker, GLOBAL VR Chief Technical Officer, would now focus on the development of tools and technology to bring advancements to the game development process and innovation to the industry. “We are committed to being an industry leader,” stated DeRose, and I am very confident that our new structure will enable us to accomplish all of our goals.”

 

 

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Founded in 1998 and headquartered in San Jose, California, GLOBAL VR® is the world's leading manufacturer of coin-operated video games based on home gaming technology. GLOBAL VR® is leveraging massive investment in development of home games and triggering a renaissance in the out-of-home video game industry. GLOBAL VR® has development agreements with the world's leading game publishers Electronic Arts (NASDAQ:ERTS), Atari (NASDAQ:ATAR) that provide exclusive rights to create coin-op versions of popular home games such as EA SPORTS™ PGA TOUR® GOLF, NEED FOR SPEED™, Beach Head and Operation Blockade.

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