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Monday August 30, 9:31 am Eastern Time
Company Press Release
Virtual Games, Inc. and Compaq Computer
Prepare for Introduction of Production Virtual
Reality Platforms at Arcade Shows
SAN JOSE, Calif.--(BUSINESS WIRE)--Aug. 30, 1999--Virtual Games, Inc. of San Jose, CA (OTC BB:ITOY -
news) and Compaq Computer Corporation (NYSE: CPQ - news) announced today that they were preparing for their
participation in the Virtual Games/Compaq Computer booths at both the Amusement & Music Operators Association
(AMOA) Show in Las Vegas, September 23-25 and the International Association of Amusement Parks and Attractions
(IAAPA) in Atlanta, November 17-20. The companies will be showcasing Virtual Games' recently completed production
version of the VRX-633(TM) and DPX-633(TM) Virtual Reality Arcade Platforms, powered by a customized Compaq
DeskPro EP computer.
``As Virtual Games completes this important step in the continuing growth of our company, we are very pleased that our
partnership with Compaq Computer has been so successful and fulfilling. They have shared their personnel, technology,
and business expertise with us during the development and marketing of what we feel are the most advanced Virtual Reality
technology available today. This is only the first milestone on a long and successful journey our companies have jointly
embarked on. During the remainder of 1999 and calendar 2000 we will be introducing several new products for the
Amusement Arcade industry, online Internet competition, advertising in arcade games via the Internet, the home gaming
market, and specific OEM applications that will take advantage of our proprietary Virtual Reality technology for large
volume production.' said Bruce Klein, President and COO of Virtual Games.
Jim Newton, Enterprise Project Manager for Compaq Computer said, ``We are extremely happy that Virtual Games has
chosen Compaq as their PC platform of choice. This has been, and continues to be, a very exciting and innovative project
and both Compaq Computer and Compaq Capital are pleased to be part of Virtual Games' Virtual Reality project team.'
Monica Harvey, Compaq/Virtual Games Program Manager for Compaq Computer commented, ``The technology used
for the Virtual Reality platforms is the most exciting and immersive I've seen. The information we have received from
potential buyers indicates substantial volume requirements for these platforms and the scheduled follow-on products during
calendar 2000. Virtual Games has planned some of the most technologically advanced and exciting products imaginable.
We are really glad to be a part of it.'
``Virtual Games has addressed the return on investment and long-term profitability problems of owner/operators. Our
platforms' modular design, upgrade capabilities, and Compaq Capital's aggressive leasing programs will ensure that our
Virtual Reality platforms can remain onsite for years. The owner/ operators can upgrade the game content and the physical
appearance of the unit as required, permitting them to lease the latest units while holding onto most of their operating
capital. They won't have to buy the platforms for cash and dispose of them in 6-9 months because they are obsolete. We
want to change the financial mechanism that the Amusement Arcade industry has been forced to operate with for many
years. Finally the owner/operator will realize an acceptable return on investment and maintain profitability.' said Mike
Wright, CEO of Virtual Games, and a former owner/operator himself.
Founded in 1997, Virtual Games, Inc. is delivering on the promise of Virtual Reality(TM). An industry leader in the design,
development, and manufacture of Virtual Reality technology, Virtual Games, Inc. is bringing to the Amusement Arcade
industry the expertise and innovations it continues to demonstrate in products found in the Space Shuttle and most of the
Boeing Aircraft. They continue to link new dimensions of game immersion with unprecedented functionality in an open
architecture arcade PC platform supplied by their business partner, Compaq Computer. Check out Virtual Games' history,
partnerships, product roadmap, product specifications, game content, and breaking news at their web site
www.virtualgamesinc.com.
Certain matters discussed within this press release may be forward looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Such statements are inherently uncertain, and actual results and activities may
differ materially from those estimated or projected. Although the Company believes that the expectations reflected in any
forward looking statements are based upon reasonable assumptions, it can give no assurances that its expectations will be
attained. The Company has no obligation to update the statements contained in this press release. |
