EVI to Provide Nationwide Installation and Maintenance for MicroTRAK GPS Products; Partnership Agreement Promotes EVI's National Expansion Strategy
BREMERTON, Wash.--July 5, 2006--Emergency Vehicle Installation, Inc. ("EVI"), a wholly-owned subsidiary of GHL Technologies, Inc. (Pink Sheets:GHLT) specializing in third party installation of GPS/telematics systems in commercial and government fleet vehicles, announced today that it has secured a partnership agreement with MicroTRAK, Inc. (Pink Sheets:MIOK) to provide nationwide installation and maintenance for MicroTRAK's full line of GPS/telematics products.MicroTRAK, Inc. is a leading U.S. manufacturer and supplier of innovative aftermarket telematics products, as well as the leader in meeting specialized market needs through software and rapid prototyping.
Under the terms of the agreement, MicroTRAK has outsourced a substantial percentage of the installation and maintenance of its GPS systems to EVI and has indicated that it will refer as much installation business as EVI can assume. http://www.microtrakgps.com
EVI projects that the new relationship will represent considerable revenues over the next few years from an estimated several thousand installations. The company's agreement with MicroTRAK also is non-exclusive, allowing EVI to pursue similar relationships with other national and international GPS/telematics manufacturers.
"EVI and its parent, GHL Technologies, are committed to providing a high level of customer service and seek to work with GPS manufacturers with similar service standards," said Gene Hew-Len, CEO of GHL Technologies and a 25-year veteran of the mobile electronics and GPS/telematics industry. "We believe MicroTRAK is a market-driven company with tested and proven technologies that cost-effectively address the tracking needs of any customer with large numbers of mobile assets to protect. Our installers are already being deployed to train with MicroTRAK's product managers so that we can quickly begin executing this new agreement."
MicroTRAK's innovative product portfolio includes AutoTRAK, the most sophisticated general-market vehicle tracking system offering 24-hour monitoring and control capabilities, and FleetTRAK, the most cost-effective fleet tracking solution offering any size fleet the ability to track its rolling stock on its own computers without excessive software, satellite, or cellular charges, while combining GPS and a nationwide digital wireless network to provide a powerful vehicle location and information system.
"We are excited about forging a relationship with such a quality installation company for the national rollout of our products," added MicroTRAK President Jerry Grisaffi. "EVI's many years of electronics experience and talented staff will certainly benefit our company."
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 marketplace 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 MicroTRAK
MicroTRAK is a leading U.S. manufacturer and supplier of cutting edge, aftermarket GPS and telematics products that cater to corporate fleets, retailers and car dealers, among other market segments. MicroTRAK's business model stresses proven back-end service, an extensive and efficient cellular network and high-quality, miniaturized communications hardware to deliver cost-effective and flexible telematics services without cross brand conflict. For more information, please visit http://www.microtrakgps.com.
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.