Guest-Tek Announces the Existence of a Share Purchase Memorandum of Agreement between Arnon Levy and M.P. Technologies Inc.



    CALGARY, Oct. 9 /CNW/ - Guest-Tek Interactive Entertainment Ltd.
("Guest-Tek" or the "Company") (TSX:GTK) announces today that the Company has
become aware of a memorandum of agreement (the "Agreement") dated December 21,
2004, between M.P. Technologies Inc. ("MPT") a control person of Guest-Tek,
and Arnon Levy, the president and CEO of Guest-Tek. Under the Agreement,
should MPT use its ownership position in Guest-Tek or otherwise use its
influence or authority in Guest-Tek to cause the involuntary termination of
Mr. Levy's employment as the Company's CEO, MPT is obligated to purchase all
of Mr. Levy's Guest-Tek common shares at the greater of market price and $6.50
per share. The independent members of the board of directors and certain
management of the Company recently became aware of the existence of the
Agreement. Guest-Tek is not a party to the Agreement.

    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 3,300
properties and over 508,000 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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