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Geospatial Holdings Name New President and Chief Operating Officer

December 18, 2008
Geospatial Holdings, Inc. announced the promotion of David Vosbein to President and Chief Operating Officer.

PITTSBURGH, PA.  - Geospatial Holdings, Inc. (OTC BB: GSPH) announced the promotion of David Vosbein, formerly Executive Vice President/Worldwide Strategic Initiatives to the position of President and Chief Operating Officer. Mr. Vosbein will also retain his position as a member of the Board of Directors.

Mr. Vosbein will be filling the position formerly held by Mark A. Smith, the Company's founder. Mr. Smith will retain his positions as Chief Executive Officer and Chairman.

Prior to joining Geospatial, Mr. Vosbein was the founder and CEO of several successful energy and technology companies.

In 1982 Mr. Vosbein founded Wellstream Corporation, and served as the company's CEO and President prior to the company's sale in 1995 to Dresser Industries and subsequent sale in 1998 to Halliburton (NYSE: HAL) and in 2003 to the private equity group Candover Investment Partners. Now Wellstream Holdings, PLC, (www.wellstream.com) is the largest provider of dynamic flexible riser pipelines and static flowlines manufactured for applications in deep and ultra deep undersea environments. Wellstream, which trades on the London Stock Exchange, (symbol "WSM") employs over 1,000 people internationally with facilities in the U.K., U.S.A., Canada, Brazil and Australia.

Since leaving Wellstream, Mr. Vosbein has served as Founder and CEO of The Offshore Group, an independent oil and gas exploration and production company; established a joint venture flexible pipe production plant in Changchun, China, and founded Simulis, LLC (www.simulis.com) a licensor of patented technology and software tools providing Simulation-Based Assessment and Training Products for the energy, healthcare and aviation industries. Simulis has licensed its technology to Simultech, LLC (www.simultech-usa.com). Customers using Simulis technology include Halliburton, Schlumberger (NYSE: SLB), Weatherford (NYSE: WFT), Pemex, Kaiser Permanente, Smiths Medical, and the American Nurses Association.

Mr. Vosbein received a Bachelor of Business Administration/Economics from Tulane University and his Juris Doctor in Admiralty and Oil and Gas Law from Loyola University.

Mark Smith, Geospatial's CEO stated, "David has proven to be a wonderful addition to the Geospatial team.  His 30 years of legal, entrepreneurial and operations experience within the infrastructure industry are exactly what Geospatial needs at this critical point in the Company's rapid growth."

Mr. Vosbein stated, "Geospatial's ability to aggregate critical infrastructure data from above and below ground level and to manage that data for our clients, positions Geospatial to emerge as a leader in the infrastructure data management field. Our business model is strong. We create real value for the municipalities and pipeline operators that are beginning to use our services. Geospatial is uniquely positioned to participate aggressively in the upcoming Obama Administration Infrastructure Economic Stimulus Program."