GHL Technologies Signs Memorandum of Understanding to Acquire Tagnet International

BREMERTON, Wash.--Aug. 14, 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 that it has signed a memorandum of understanding to acquire Tagnet International, with implementation by GHL's agent Balmoral Financial Services Companies.

Headquartered in Albertslund, Denmark, Tagnet International is a provider of real-time mobile asset and data management solutions. The company utilizes advanced RFID, GPRS and satellite tracking technologies in conjunction with sophisticated Tagnet modules to meet the asset management needs of the mobile logistics, security and fleet management sectors as well as the general business sector.

"We are pleased to be finalizing all the terms and conditions for completing this acquisition, and we are excited about the prospect of joining the GHL technologies team together with other GHL companies," said Johannes Clausen, president of Tagnet.

GHL Technologies' agreement with Balmoral allows for GHL to potentially acquire several companies in the United States and others in the Greater European Union. These new acquisitions will be facilitated by Balmoral, and in some instances, these activities will increase market exclusive technology and expand the products and focus of GHL.

With the assistance of Balmoral Financial Services, GHL will be forming information statements and finalizing the requirements to merge Tagnet International into GHL Technologies and intends to complete this merger in the fall of 2006, pending regulatory approval.

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.

About Tagnet International

Tagnet solutions enable customers to track vehicles, cargo and virtually any mobile asset, and remotely perform all administrative functions in order to minimize the cost of inventory and invoice management as well as cut down on inefficiencies due to human error. Tagnet is unique in that the low-cost communications capability of its technology allows customers to treat a Tagnet module as a remotely networked device; this means that any information regarding tracked assets can be sent in real time, and more importantly, the customer can process functions on that device remotely. In addition to its Danish facilities, Tagnet maintains a presence in other international locations including Hong Kong and South Africa, and is a major player within the GPS industry. For more information, visit http://www.tagnet-international.com.

About Balmoral Financial Services Companies

In operation since 1986, Balmoral (http://www.balmoralfinancial.com), an Ohio corporation, is a niche financial services company that specializes in identifying merger candidates and placing these transactions with American companies. Balmoral provides private entrepreneurs and public companies M&A, Bank Guarantees, Documentary Credit, International Promissory Notes, and PIPE financing services. Working with financial institutions in emerging markets such as Eastern Europe, the former Soviet Union and others, Balmoral does business in 20 countries and maintains five satellite offices. Balmoral holds partnerships with several entities, including Euro Partners, with locations in England, Zurich, Prague, Athens and Belgrade.

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.