PITTSBURGH — (BUSINESS WIRE) — September 15, 2009 — Geospatial Holdings, Inc. (OTCBB: GSPH) announced today that the Company has entered into a Strategic Alliance with Topcon Positioning Systems, Inc. ( www.topconpositioning.com). The purpose of the alliance is to jointly market Geospatial’s Smart Probe™ Pipeline Mapping Technologies with Topcon’s IP-S2, 3D above ground Mobile Mapping System. With the combined technologies municipalities, engineers, pipeline operators and utilities are capable of gathering and managing 3D geo-referenced surface features along with 3D underground pipeline data.

Geospatial utilizes proprietary technologies to economically locate and create accurate 3D maps of underground pipelines and conduits. Geospatial’s website is www.geospatialholdings.com.

Topcon’s IP-S2 3D Mobile Mapping System travels the pipeline or utility corridor above-ground at speeds up to 65 miles per hour. The cost savings over traditional ground-based data collection methodologies is exponential. Safety is greatly improved by removing personnel from vehicular traffic areas.

The IP-S2’s three laser scanners and a digital video camera system capture high-accuracy x,y,z point clouds and 360° spherical imagery. Topcon’s advanced software enables the simultaneous viewing of images and point clouds, enabling the system operator to accurately visualize and assess all terrestrial features along the corridor. Existing GIS feature and attribute sets can be imported, used to position collected features, and then exported back to the system’s geodatabase.

By combining underground pipe data from Geospatial’s Smart Probes™ with the above-ground mapping from Topcon’s IP-S2 system, operators now have a complete 3D, geospatially-referenced view of all essential information. Mark Smith, CEO of Geospatial Holding, Inc. said “The combination of these revolutionary technologies, the GeoUnderground Portal and Topcon’s global distribution and marketing network position this alliance to create a substantial impact on the municipal and energy infrastructure markets worldwide.”

Richard Rybka, Topcon’s IP-S2 Product Specialist added, “The Strategic Alliance between our two companies was created to solve many of the problems that plague underground distribution today. Using our technologies, system owners and operators can quickly and cost-effectively acquire the accurate data they need. The result is more efficient operations, safety, and precise planning.”

Geospatial Holdings Profile

Geospatial Holdings utilizes proprietary 3D sensing technologies to locate, map, perform condition assessment, and detect leaks of underground pipelines.

Geospatial’s technologies include Smart Probes™ which can be deployed from within the pipeline. When coupled with commercially available condition assessment technologies or enhanced geo-referenced underground imaging technologies Geospatial is capable of creating 3D geo-referenced maps showing the accurate position of both the pipeline and the anomalies within the pipeline.

All data derived from Geospatial’s sensing technologies is geo-referenced allowing the data to be managed and viewed in 3D within the Company’s robust web-based GeoUnderground Geographic Information System (GIS) Portal.

GeoUnderground has often been described as a secure underground version of Google Earth.

Geospatial’s business plan calls for a rapid low-cost deployment of our GeoUnderground Portal across large numbers of municipalities throughout the USA and abroad.

The advantages to the municipalities that elect to use GeoUnderground and gather 3D data are, accurate geo-referenced pipeline location and condition data, simple data management applications and seamless information sharing within the organization, regionally, statewide and across all Federal agencies.

Additional info on GeoUnderground can be obtained at http://www.geospatialcorporation.com/flashTutorial.html

Topcon Positioning Profile

Topcon Positioning Systems, Inc. (TPS), Livermore, California, is a wholly-owned subsidiary of Topcon Corporation, Tokyo, Japan. Topcon Positioning Systems is the worldwide leading developer and manufacturer of precision positioning equipment and offers the widest selection of innovative precision GPS systems, laser, optical surveying, and machine control products.

From open-field construction projects to isolated surveying sites and from rolling farmland to inner city utility projects, Topcon Positioning Systems provides innovative technology that provides a decidedly competitive edge to end-users.

The recognized innovative trend-setter in its industry, Topcon has focused on developing an array of integrated positioning and automation technologies to meet the constantly changing demands facing construction, surveying, agriculture, utilities and law enforcement industries worldwide.

Forward-Looking Statements

The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for forward-looking statements. The Company makes forward-looking statements in this news release that represent the Company’s beliefs or expectations about future events or financial performance. These forward-looking statements are based on information currently available to the Company and on management’s beliefs, assumptions, estimates and projections and are not guarantees of future events or results. When used in this document, the words “anticipate,” “estimate,” “believe,” “plan,” “intend,” “may,” “will” and similar expressions are intended to identify forward looking statements, but are not the exclusive means of identifying such statements. Such statements are subject to known and unknown risks, uncertainties and assumptions, including those referred to in the “Risk Factors” section of the Company’s Annual Report on Form 10-K. for the year ended December 31, 2008 and in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s Report on Form 8-K filed with the Commission. In light of these risks, uncertainties and assumptions, the forward-looking events discussed may not occur. In addition, our actual results may vary materially from those anticipated, estimated, suggested or projected. Except as required by law, we do not assume a duty to update forward-looking statements whether as a result of new information, future events or otherwise. Investors should, however, review additional disclosures made by the Company from time to time in its periodic filings with the Securities and Exchange Commission. Please use caution and do not place reliance on forward-looking statements. All forward-looking statements made by the Company in this news release are qualified by these cautionary statements.