GHL Technologies Closes $660,000 Private Placement Round; Company to Expand Ongoing Operations; Seek Merger & Acquisition Partners

BREMERTON, Wash.--April 26, 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, announced today that it has closed a $660,000 private placement round. The company has allocated these funds for working capital purposes, to repay debt owed to the company's principals, and to acquire other companies in the GPS and telematics space.

In conjunction with revenue generated from ongoing company operations, these funds will help GHL Technologies to expand its growing installation, sales, and service activities as well as facilitate the implementation of its aggressive acquisition-based business model. The round also will result in the elimination of 100 percent of the company's current debt.

"This round of financing will facilitate our planned expansion this year and is a clear sign that GHL Technologies intends to deliver on its promise of becoming the leading GPS installation company in the country," said Gene Hew-Len, CEO of GHL Technologies and a 25-year veteran of the mobile electronics and GPS/telematics industry. "The elimination of our current debt also creates substantial value for our shareholders and allows us to focus on and grow our core business."

GHL Technologies also continues to aggressively engage its resources to identify and establish strategic partnerships with companies on the cutting edge of GPS/telematics technological development.

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 "Shareholder Registration" 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.