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GHL Technologies to Seek OTCBB Listing

BREMERTON, Wash.--May 23, 2006--GHL Technologies, Inc. (Pink Sheets:GHLT), a holding company focusing on acquisitions, strategic alliances, and partnerships with companies on the cutting edge of the GPS and telematics industry, today announced its intent to apply with the NASD for listing on the Over the Counter Bulletin Board (OTCBB).

The OTCBB is a regulated quotation service that displays real-time quotes, latest sales prices and volume information for more than 3,300 domestic and international over-the-counter securities. Additional information regarding the OTCBB is available on its website at http://www.otcbb.com.

GHL Technologies announced its public status in April 2006 and is currently listed on the OTC Pink Sheets. The company's management team is now initiating the application process and anticipates NASD approval of its OTCBB listing by the end of 2006 or early 2007.

"The benefits of OTCBB listing will include greater visibility for our company as well as access to more than 230 participating market makers and improved access to investment capital," said Gene Hew-Len, CEO of GHL Technologies. "We expect this move also will create substantial value for our current shareholders and provide a platform for continued investor interest in our company."

About GPS and Telematics Technologies

GPS, or Global Positioning System, is a worldwide radio-navigation system formed by a constellation of 24 orbiting satellites and their ground stations and controlled by the U.S. Department of Defense. Originally intended strictly for military use, GPS uses these satellites as reference points to calculate positions accurate to within meters, or within a centimeter as with advanced forms of GPS.

Telematics is the convergence of computing, information, and wireless communication technologies with GPS location-tracking capabilities inside a moving platform, which in turn enables various location-based and multimedia communication services. Applications such as vehicle location-tracking, dynamic GPS navigation, real-time traffic reports, and automated crash and theft notifications are some service examples of telematics.

According to numerous industry sources, global GPS and telematics sales are expected to exceed $16 billion by the end of this year, with the demand for real-time track and trace applications growing exponentially as companies continue to improve customer service standards. The GPS/telematics market is expected to grow at a rate of nearly 25 percent through 2007 and more rapidly beginning in 2008 as the next wave of GPS/telematics technology is made available via new satellite launches.

About GHL Technologies

GHL Technologies seeks to become a leading international GPS/telematics installation company by aggressively investing in new acquisitions, building strategic alliances, and securing partnerships with companies on the cutting edge of GPS and telematics development - thereby creating value for its shareholders.

For more information, please visit http://www.ghltechnologies.com. GHLT shareholders are encouraged to register on the site's "Investor Relations" page to receive ongoing company news updates.

Legal Notice Regarding Forward-Looking Statements: "Forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 may be included in this news release. These statements relate to future events or our future financial performance. These statements are only predictions and may differ materially from actual future results or events. GHL Technologies disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. Important risk factors could cause actual results to differ from those contained in forward-looking statements; these include, but are not limited to, risks associated with changes in general economic and business conditions, actions of our competitors, the extent to which we are able to develop new services and markets for our services, the time and expense involved in such development activities, the level of demand and market acceptance of our services, and changes in our business strategies.