NEW YORK, April 28, 2004 (PRIMEZONE) -- GTREX, Inc. (OTCBB:GRXI), is pleased to announce that it has joined the Open Travel Alliance (OTA). As an active OTA member, GTREX Inc. will contribute to the OTA message specifications, a standard set of programming messages that make data communication between airlines and distribution partners easier and more efficient. GTREX's next generation travel distribution technology is being developed in full support of the OTA specifications.
According to the OTA website, "Travel industry business and technology leaders responsible for product distribution are working together through the OTA to transform the travel industry into one global supermarket of products and services. This will be realized through development of a commonly accepted communications process..."
Kailash Khanna, CEO of GTREX, Inc. stated, "GTREX is developing leading edge travel distribution solutions designed to increase flexibility and reduce the cost to suppliers of travel and related services. We are committed to supporting the OTA's mission of providing for a universal method of communication for Internet travel distributors." He added, "What this means to the individual consumer of travel services is lower prices across the board. When the GTREX platform is launched, our travel industry partners will realize substantial savings, which they may choose to pass along to the consumer."
About OTA
The Open Travel Alliance develops communications specifications to allow for the efficient and effective exchange of travel industry information via the Internet. With over 150 members representing influential names in all sectors of the travel industry, OTA is comprised of representatives from the airlines, car rental firms, hotels, leisure suppliers, service providers, tour operators, travel agencies, and trade associations. OTA working groups, together with an OTA interoperability committee to coordinate their efforts develops open Internet-compatible messages using XML.
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. Unlike other GDS's, 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. Existing GDS services do not present information from suppliers that are not part of their system. Besides improved brand and revenue management, suppliers save distribution costs while providing efficient service to major customers through a direct connection.
According to Phocus Wright historical and Credit Suisse First Boston estimates, travel distribution is moving fast from off-line to on-line in the U.S. On-line distribution is expected to grow from 15% in 2002 to 39% by 2007. On-line distribution is expected to grow at a 27.7% compounded annual growth rate from 2002 to 2007, when it is expected to approach $100 billion a year. On-line supplier direct distribution is expected to grow five fold from $10 billion in 2002 to $45 billion by 2007. GTREX is ideally positioned to participate in this growth.
"Safe-Harbor" Statement Under the Private Securities Litigation Reform Act of 1995
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.