ALISO VIEJO, Calif., June 23, 2005 (PRIMEZONE) -- GTREX Capital, Inc. (OTCBB:GRXI) today announced that its operating subsidiary, Global Travel Exchange, Inc., a leading provider of direct access travel distribution technology, has received approval from the issuing bank for its Global Cheque Card, which will be marketed to Global Travel Exchange customers for use to pay for travel services online or at point of service locations worldwide.
The approval paves the way for Global Travel Exchange to issue several types of cards for travel-related purchases. The first will be a Global Travel Exchange branded stored value debit/automated teller machine card that will be made available through travel agencies that utilize GTREX's e-commerce front-end to book travel products. Revenue will be generated through the issuance of new cards, loading fees, transaction fees, and maintenance fees.
After the launch of the debit/automated teller machine card, Global Travel Exchange intends to introduce additional branded cards, including a membership card with loyalty features such as discounts on travel products and gift cards that users can load with a specific dollar value.
"We are pleased to receive approval for our Global Cheque Card and look forward to the marketing programs that will accompany the issuance of this and other planned cards for Global Travel Exchange customers," commented Christopher Berlandier, chief executive officer of GTREX Capital, Inc.
"We are particularly excited about the potential of affiliate marketing programs that are expected to drive customers to the Global Travel Exchange e-commerce user interfaces, which are the front-end portals that customers will use to book travel products through the Global Travel Exchange platform. These customers are an important revenue stream for Global Travel Exchange, as their bookings will generate transaction fees at various points of travel purchase transactions," added Mr. Berlandier.
Global Travel Exchange has developed and implemented several XML (Extensible Markup Language) interfaces, in accordance with OTA specifications, to ensure a direct connection between Global Travel Exchange and suppliers of travel services. XML, a cross-platform software and hardware independent tool for storing and transmitting information, is becoming the standard method to communicate data between servers and between servers and browsers. Global Travel Exchange's high-quality direct connection will provide clients with access to higher quality information, translating into more convenience for travelers and travel arrangers.
About GTREX Capital, Inc.
GTREX Capital, Inc. (http://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., has launched its Voyager Network travel distribution platform, which 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 the Voyager Network 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.
Safe Harbor Statement
This release contains forward-looking statements with respect to the results of operations and business of GTREX Capital, Inc., which involves risks and uncertainties. The Company's actual future results could materially differ from those discussed. The Company intends that such statements about the Company's future expectations, including future revenues and earnings, and all other forward-looking statements be subject to the "Safe Harbors" provision of the Private Securities Litigation Reform Act of 1995.