EXHIBIT 99.1
                                                                    ------------

                                    GSV, Inc.

FOR IMMEDIATE RELEASE:


     GSV, INC. ANNOUNCES FINANCING AT A SIGNIFICANT PREMIUM TO SHARE PRICE
                        THROUGH SALE OF CONVERTIBLE NOTE

Westport,  CT, May 13, 2004. GSV, Inc. (OTCBB Symbol: GSVI) announced today that
it had raised  additional funds through the sale of a $200,000  convertible note
to a foreign private  investor.  The note is convertible  into common stock at a
conversion price of $0.70 a share,  representing a significant  premium over the
closing  price of the common stock on May 10, 2004,  of $0.12 a share.  GSV will
use the proceeds to continue developing its oil and gas prospects in Texas.

GSV also issued  warrants to the investor to purchase up to 1,142,857  shares of
common  stock  at a price  of  $0.70 a  share,  totaling  if  exercised  in full
$800,000.  The warrants expire if not exercised within 12 months. The conversion
price  of the  note  and the  exercise  price of the  warrants  are  subject  to
customary price  adjustment for stock splits and similar events,  and for future
financing.

Gilad Gat,  President and CEO of GSV,  said,  "We are all very excited about our
new opportunities for revenue growth.  This new investment,  at a premium to our
share  price,  demonstrates  we are on the right path and that our  efforts  and
potential are being recognized by sophisticated investors."

In connection with the sale of these  securities GSV agreed that if the investor
exercises the warrant in full and converts the convertible note in full GSV will
appoint a person  designated  by the investor to GSV's Board of  Directors.  GSV
also granted the investor  rights to register  the common stock  underlying  the
convertible note and warrant.

GSV's principal stockholder,  Polystick U.S. Corporation, pledged 200,000 shares
of the Series B convertible preferred stock as collateral security for the note.
Polystick also agreed that if GSV fails to appoint or nominate a  representative
for  election  to its  board of  directors,  then,  at the  investor's  request,
Polystick will vote its shares of Series B convertible  preferred stock in favor
of a nominee designated by the investor.

GSV offered the  convertible  note and the  warrants in reliance on an exemption
from  registration  for offers  and sales of  securities  that do not  involve a
public  offering.  This offering was not registered  under the Securities Act of
1933,  as  amended,  and neither the  convertible  note nor the  warrants or the
underlying  common  stock may be  offered or sold in the  United  States  absent
registration or an applicable  exemption from  registration  requirements.  This
disclosure  is neither an offer to purchase  nor a  solicitation  of an offer to
sell  securities  in any  jurisdiction  in which  such an offer or sale would be
unlawful.  This press release does not and will not  constitute an offer to sell
or the  solicitation  of an offer to buy shares and is being  issued  under Rule
135c under the Securities Act.

About GSV Inc.

GSV Inc is an oil and gas  exploration  company.  Its recent  acquisition  of an
interest in a Texas-based  exploration  company injected exciting  prospects and
opportunities  into GSV and  positioned  it for future  growth.  In  addition to
managing  its  current   assets,   GSV  is  actively   seeking  new  acquisition
opportunities in this industry.

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.


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