In response to the rapidly changing marketplace, the resulting formation of GeoShack North America, Inc. was announced from the merger of four independent distributors and an equity investment by an independent investor. Completed October 14, 2003, the following companies have merged:

• Ohio Beam, Inc. dba Blue Beam with operations in Ohio & Michigan
• Spectra Laser & Precision Instrument Inc. with operations in Texas
• Laserline Ontario with operations in Ontario, Canada
• Construction & Survey Instruments, Inc. dba GeoShack with operations in Texas & Oklahoma

GeoShack North America, Inc., the holding company, will be based in the Dayton, Ohio area, long considered to be a major center for the industry. The company will be lead by Mr. Terry Studebaker as President & Chief Executive Officer, and Mr. Robert Makenas as Chief Financial Officer, both former senior executives of a major industry manufacturer. The new organization already covers a vast geographical area and hopes to expand across North America through future mergers and acquisitions. These newly combined operations are anchored by sales professionals, technical service specialists and administrative support personnel at facilities in 12 major market areas in North America, with a total employment of over 80 employees.

All of the companies participating in this merger are major distributors today for Trimble Navigation Ltd. The major goals of the consolidation are to yield:

• World class customer service
• Purchasing efficiencies
• Operational cost reductions
• Stronger financial results
• Higher growth rates
• Centralized marketing efforts
• Increased industry influence
• An effective marketing channel for new products and technologies

Mr. Studebaker was quoted as saying "Our dream for GeoShack North America is to create a more efficient distribution organization that provides quality products and services to our customers, better career opportunities for our employees, a secure return for our shareholders and sales growth for our vendor partners."

Each of the existing companies will continue to operate independently under their current identity, as wholly owned subsidiaries of the holding company. Eventually all operations will use the GeoShack name for all retail activities. The Board of Directors of GeoShack North America, Inc. will consist of:

• Mr. Scott Beathard, President of CSI, Inc. - Chairman
• Mr. Regis Brown, President of Ohio Beam, Inc. - Director
• Mr. Tom Brennan, President of Spectra Laser - Director
• Mr. Bob McIntosh, President of Laserline Ontario - Director
• Mr. Terry Studebaker, President of GeoShack North America, Inc.- Director