Exhibit 99.1
                                                                    ------------

                                     GSV, Inc.

FOR IMMEDIATE RELEASE:


                 GSV, INC. ACQUIRES TEXAS OIL AND GAS INTERESTS

Westport,  CT, July 21, 2003. GSV, Inc. (OTCBB Symbol: GSVI) reported today that
it had  acquired  certain oil and gas  interests  in Texas from  Polystick  U.S.
Corp.,  a New  York  corporation  and  shareholder  of  GSV  ("Polystick").  The
transaction  involves  the merger of  Cybershop,  L.L.C.,  a New Jersey  limited
liability  company and wholly-owned  subsidiary of GSV, and Polystick Oil & Gas,
Inc., a Delaware  corporation  and a  wholly-owned  subsidiary of Polystick.  In
exchange for the oil and gas interests,  GSV issued  4,500,000  shares of Common
Stock and 1,500,000  shares of newly authorized  Series B Convertible  Preferred
Stock to Polystick.

Gilad Gat,  President and CEO of GSV, said, "this is a major step forward in our
plans to transform  our business and become a player in the domestic oil and gas
industry.  Given the recognized need for increased  production of natural gas in
this  country,  we believe  this is a great time to  increase  our stake in this
exciting industry."

In connection with the acquisition of the oil and gas interests and the issuance
of the Series B Preferred  Convertible  Stock,  GSV redeemed all of its existing
outstanding  Series A  Convertible  Preferred  Stock for  $400,000.70.  GSV paid
$200,000.70 of the redemption price in cash and the balance by a promissory note
secured by a lien on all of GSV's assets.

Forward-Looking Statements

Some of the statements in this press release are forward-looking statements that
involve  risks  and  uncertainties.  These  forward-looking  statements  include
statements about our plans, objectives, expectations, intentions and assumptions
that are not statements of historical fact. You can identify these statements by
the following words:

- "may"
- "will"
- "should"
- "estimates"
- "plans"
- "expects"
- "believes"
- "intends"

and similar expressions. We cannot guarantee our future results,  performance or
achievements.  Our actual results and the timing of corporate  events may differ
significantly from the expectations discussed in the forward-looking statements.
You  are  cautioned  not  to  place  undue  reliance  on  any  forward-  looking
statements.  Potential  risks and  uncertainties  that  could  affect our future
operating  results  include,  but are not  limited  to,  our  limited  operating
history,  history of losses, need to raise additional capital, and the high risk
nature of our  business,  as well as other  risks  described  in our most recent
annual report on Form 10-KSB filed with the Securities and Exchange Commission.