ALISO VIEJO, Calif., July 12, 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 entered into an initial agreement with Worldwide Global Express, a Hong Kong corporation, for the marketing of the Global Cheque Card in North America, Asia and Europe. Global Travel Exchange's Global Cheque Card will allow customers to pay for travel or any other products and services at automated teller machines and wherever Visa cards are accepted around the world.
Under terms of the agreement, Worldwide Global Express will provide the marketing and distribution for the Global Cheque Card, beginning in seven countries in North America, Asia and Europe, with a particular focus on the Asian market. Global Travel Exchange will receive a $30,000 per country licensing fee from Worldwide Global Express, in addition to initiation fees, monthly management fees, ATM usage fees, and loading fees.
"There are several distinct revenue streams for Global Travel Exchange through the marketing of its Global Cheque Card, beginning with the per country licensing fees, but we are especially pleased with the ongoing revenue expected from the successful marketing of these cards," commented Christopher Berlandier, chairman and chief executive officer of GTREX Capital, Inc. "Not only do we anticipate a growing segment of initiation fees as new cards are activated, but Global Travel Exchange expects to benefit from larger recurring monthly maintenance fees as Worldwide Global Express brings the Global Cheque Card to new markets around the world.
"While this is not the core business of Global Travel Exchange, these are clearly significant revenue numbers when projected out to reflect the large demand for debit cards that can be loaded and used at locations worldwide. In addition, the Global Cheque Card is the type of add-on product that increases the appeal of Global Travel Exchange's distribution platform. The cards will be offered to travel customers, giving them access to unique and affordable travel packages and inventory across the globe. Users will be offered specific savings for just having a Cheque card and further savings once Global Travel Exchange introduces additional branded cards, including a membership card with loyalty features such as discounts on travel products. We expect the entire card program to be a highly effective branding tool for Global Travel Exchange and draw attention to affiliate marketing programs that will drive customers to the Global Travel Exchange e-commerce user interfaces," 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., 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.