NEW YORK, June 17, 2004 (PRIMEZONE) -- GTREX, Inc. (OTCBB:GRXI) announced today that it has signed an agreement with Galileo International, a subsidiary of Cendant Corp. (NYSE:CD), a leading provider of electronic global distribution services for the travel industry. Under the terms of the agreement, customers that use the GTREX web service will have a direct link to availability of travel reservations residing on Galileo's system.
Kailash Khanna, CEO of GTREX stated, "Our agreement with Galileo levels the playing field for reservation offerings made available to the general public." He added, "As one of the world's leading providers of electronic global distribution services, Galileo connects approximately 44,000 travel agency locations to a partial inventory of over 500 airlines, 37 car rental companies, 47,000 hotel properties, 368 tour operators and all major cruise lines throughout the world. In addition, GTREX will provide direct connectivity to the full reservation inventories of a buyer's 'preferred' suppliers."
Based on its strategy of fulfilling online reservations through direct connections to supplier inventory, GTREX will extend its connection to Galileo, and in the future to Sabre, with direct integrated connections to the reservation systems of airlines, hotels and car rental companies.
According to Vijay Saradhi, Vice President of Technology & Operations for GTREX, "In addition to increasing direct access to suppliers, customers using the GTREX system will benefit from many technological innovations such as seamless connectivity to reservation and inventory management systems, and delivery of the most adaptable and flexible distribution solutions."
About GTREX
GTREX is a Global Distribution System (GDS) enabling direct access to reservation systems of major travel suppliers -- airlines, cruise lines, hotels, car rental companies and providers of other travel amenities. GTREX searches for the availability and price for the itinerary suggested by the buyer over all direct connected suppliers and GDS's and presents the results in an easy to understand format. Besides improved brand and revenue management, suppliers save distribution costs while providing efficient service to major customers through a direct connection.
This press release contains forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including statements regarding potential sales, the success of the Company's business, as well as statements that include the word "believe" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of GTREX, Inc. to differ materially from those implied or expressed by such forward-looking statements. Such factors include, among others, the risk factors included in GTREX's periodic reports filed with the SEC under the Exchange Act. This press release speaks as of the date first set forth above and GTREX assumes no responsibility to update the information included herein for events occurring after the date hereof. Actual results could differ materially from those anticipated due to factors such as the lack of capital, timely development of products and or services, inability to deliver products and or services when ordered, inability of potential customers to pay for ordered products and or services, and political and economic risks inherent in international trade.