Here is code that works in C# using .NET calls (should be trivial to do in VB)
Double deg = (Double)BitConverter.ToInt32(data,0)/ BitConverter.ToInt32(data,4);
Double min = (Double)BitConverter.ToInt32(data,8)/ BitConverter.ToInt32(data,12);
Double sec = (Double)BitConverter.ToInt32(data,16)/ BitConverter.ToInt32(data,20);
The format is documented here http://en.wikipedia.org/wiki/Geotagging