ALISO VIEJO, Calif., May 25, 2005 (PRIMEZONE) -- GTREX Capital, Inc. (OTCBB:GRXI) today announced that portfolio investment company Global Travel Exchange has signed the definitive agreement with Blue Dymension to link a full e-commerce travel agent solution to its Voyager Network distribution platform for the purchase of travel products.
Blue Dymension is a provider of leading edge E- Travel technology for travel companies of any type and size. By utilizing Blue Dymension's customer interface, customers will have the ability to seamlessly connect through the Voyager Network to purchase flight, car, tour, and hotel products. With this interface, Global Travel Exchange expects to sign its first customers and begin generating revenue from travel transactions in the next several weeks.
Under terms of the agreement, Global Travel Exchange will receive revenue through the e-commerce platform from a majority share of each transaction, set-up and licensing fees and ongoing bookings fees.
Christopher Berlandier, Chief Executive Officer of GTREX Capital, Inc. commented, "We are pleased to have completed negotiations and executed the definitive agreement between Global Travel Exchange and Blue Dymension. An effective user interface for travel buyers is a critical step in the marketing of the Voyager Network. Global Travel Exchange has made considerable progress in establishing contacts with a significant number of travel agencies and expects these efforts to lead to its first clients and revenue from transaction fees in the near term."
In addition to the customer interface, Global Travel Exchange and Blue Dymension have entered into a Master Services Agreement, under which the two companies will utilize each other's services in order to augment their offerings to the travel distribution industry.
"There are a number of follow-on products and service offerings stemming from the Master Services Agreement with Blue Dymension that we expect to generate additional revenue for Global Travel Exchange and ultimately increase value for GTREX Capital shareholders," added Mr. Berlandier.
About Blue Dymension
Blue Dymension builds cutting-edge, intelligent and integrated systems to significantly improve Web-based travel business. Harnessing the newest developments in Web and travel technology, Blue Dymension designs innovative e-solutions from highly interactive Web portals, e-brochures, and automated email marketing, to content management, customer relation solutions and XML API integration with any GDS or non GDS data sources.
About GTREX Capital, Inc.
GTREX Capital, Inc. (www.gtrexcapital.com) is a Business Development Company pursuant to the Investment Company Act of 1940 whose core focus is to assemble an investment portfolio of investments into businesses related to the travel industry.
Its initial portfolio investment, Global Travel Exchange, Inc., provides a service that enables direct access to reservation systems of major travel suppliers such as airlines, cruise lines, hotels, car rental companies and providers of other travel amenities. Through a software solution that searches for the availability and price for the itinerary suggested by the buyer over all direct connected suppliers and existing Global Distribution Systems (GDS), Global Travel Exchange 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. Global Travel Exchange is positioned to market its services through travel distribution partners, contributing to the expansion of the Company's marketing channels and expedite revenue growth.
Any statements contained herein related to future events are forward-looking statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on forward-looking statements. GTREX Capital, Inc. undertakes no obligation to update any such statements to reflect actual events.