Carbite Golf: Merger Agreement Receives Shareholder and Statutory Approvals.

VANCOUVER, BRITISH COLUMBIA--(BUSINESS WIRE)--June 2, 1997-- Carbite Golf Inc. (VSE CAB. ) wishes to announce that the merger agreement with Carbite, Inc. and Advanced Golf Systems, Inc. has received Vancouver Stock Exchange and Department of Corporations of the State of California approval as well as shareholder approval from both companies.

A total of 7,778,872 shares will be issued inclusive of all bonus shares as well as 1,612,524 warrants exercisable over a 2 year term, 912,524 of which are exercisable at a price of $1.30 CDN per share if the warrants are exercised on or before December 31, 1997 and at a price of $1.50 CDN per share if the warrants are exercised on or before December 31, 1998 after which date , those warrants will expire. Of the remaining warrants, namely 700,000, they are exercisable at a price of $1.50 CDN per share on or before May 30, 1999. Michael Spacciapolli will have his 607,000 employee option exercisable at $0.01 CDN per share assumed by Carbite Golf Inc. Upon completion of the merger, Carbite Golf Inc. will own 100 percent of Carbite, Inc. and Advanced Golf Systems, Inc. Prior to the issuance of the shares, Carbite Golf Inc. has agreed to change its domicile from British Columbia to the State of Delaware and to seek a tax ruling from the IRS confirming the tax free nature of the share exchange.

ON BEHALF OF THE BOARD RONALD L. REIMER, Director, Carbite Golf Inc.

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The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

CONTACT: Lewis, England and Associates, Inc.,

501/376-0222

501/376-6690 (FAX)

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or

Martyn Element and Associates

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604/687-6820

604/687-6328 (FAX)