Guest-Tek announces financing and departure of Chief Operating Officer



    CALGARY, March 31 /CNW/ - Guest-Tek Interactive Entertainment Ltd.,
("Guest-Tek" or the "Company") (TSX:GTK), a leader in providing broadband
technology solutions to the global hospitality industry, announced today that
the Company has entered into loan agreements (the "Agreements") with majority
shareholder, M.P. Technologies Inc. ("MPT") of Tokyo, Japan and with Arnon
Levy, the Company's President and Chief Executive Officer. Under the terms of
the Agreements, MPT will loan Guest-Tek $1,000,000 and Mr. Levy will loan
Guest-Tek $300,000, with the principal amounts due and payable on March 31,
2010. The loans carry an annual interest rate of 10%, with interest payable
semi-annually. The Company will also pay one time loan administration fees of
$14,000 to Mr. Levy and shall reimburse $28,000 of costs incurred by MPT. The
loans are secured by general security agreements that provide for a floating
charge over all the assets of the Company. The loans are subordinated to any
present or after acquired senior debt. The Company will use the proceeds of
the loans for general working capital purposes.
    The Company also announced the resignation of Chief Operating Officer
Craig Snelgrove. Mr Levy commented "On behalf of the Company, I would like to
personally thank Craig Snelgrove for his contributions to Guest-Tek."

    About Guest-Tek

    Guest-Tek is the world's largest provider of IP based technology
solutions for the hospitality industry. Guest-Tek's OneView platform provides
hotels with converged data, video and telephony services. Guest-Tek is a
preferred vendor to major hotel brands, providing services including network
design, procurement, implementation, and post sales customer support to 3,019
properties and over 504,000 rooms. Guest-Tek's common shares trade on The
Toronto Stock Exchange under the trading symbol "GTK". The company's head
offices are in Calgary, Alberta, and it has major support facilities in
Irvine, California, and Warsaw, Poland as well as Sales offices located
throughout North America and Europe. For more information about Guest-Tek, go
to www.guest-tek.com.

    %SEDAR: 00020221E




For further information:

For further information: Arnon Levy, President & CEO, Guest-Tek, (403)
444-8488, arnon.levy@guest-tek.com; Geoff Clark, CFO, Guest-Tek, (403)
444-8427, geoff.clark@guest-tek.com

Organization Profile

GUEST-TEK INTERACTIVE ENTERTAINMENT LTD.

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