ALISO VIEJO, Calif., June 30, 2005 (PRIMEZONE) -- GTREX Capital, Inc. (OTCBB:GRXI) today announced that its operating subsidiary, Global Travel Exchange, Inc., has initiated a program to provide web services and system management for tour operators. Global Travel Exchange has been engaged by, and received payment from, its first tour package company and expects to leverage this first agreement into future contracts with additional tour companies.
Under terms of its first agreement, Global Travel Exchange will enable a legacy-type database system to support XML (Extensible Markup Language) in accordance with OTA specifications to ensure more efficient and cost-effective connection between customers and tour companies that package travel amenities that include sightseeing, meals, cultural events, leisure time activities and accommodations. Global Travel Exchange's high-quality direct connection will provide its tour clients with access to higher quality information, translating into more convenience for travelers and travel agencies.
As online travel booking grows and more of the distribution is done via XML systems, additional tour companies and other entities with travel inventory are expected to move away from traditional, antiquated technology. Global Travel Exchange will continue to market its ability to manage the web services for client companies and their proprietary inventory.
"We are pleased that Global Travel Exchange has received payment from its first web services management customer, and we expect steady revenue growth as marketing efforts for this sector of the business are expanded," commented Christopher Berlandier, chief executive officer of GTREX Capital, Inc. "There is clearly a significant need for web services management in the travel distribution industry, and Global Travel Exchange has the ability to enable XML interfaces and allow the client's inventory to be accessible to its customers."
Revenues for enabling XML and managing the clients' customers through the Global Travel Exchange platform will be generated through management fees, access fees and maintenance fees, but as Global Travel Exchange expands its inventory, it will look to distribute travel products and generate revenue through transactions as well.
"Many customers who book tour packages may be interested in other products in Global Travel Exchange's inventory of travel amenities, which is expected to lead to revenue participation from each transaction booked, in addition to the management and access fees included in our current agreement," added Mr. Berlandier.
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., 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.
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.