ALISO VIEJO, Calif., Feb. 14, 2005 (PRIMEZONE) -- GTREX Capital, Inc. (OTCBB:GRXI) today announced its initial portfolio investment company and plans to utilize its status as a Business Development Company to invest in additional privately held companies that are well-positioned for growth, but that require some capital infusion and management assistance to build significant value.
GTREX Capital's first area of focus will be to provide capital and management support for its existing subsidiary company, Global Travel Exchange, Inc., 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.
As GTREX Capital moves forward with the development of Global Travel Exchange, Inc., it will concurrently target and potentially acquire additional revenue generating companies that have demonstrated both viability and growth potential. Ideally, investment capital will be used to affect a quantum growth in the portfolio company's revenues and facilitate long-term value for GTREX shareholders.
Christopher Berlandier, Chief Executive Officer of GTREX Capital, Inc., commented, "Management believes that there is no better initial portfolio company for GTREX Capital than Global Travel Exchange, due to the immense worldwide market for its service and the more expensive fees associated with systems that are widely used by a good portion of today's travel industry. Many of the other investments that GTREX plans to target are in the travel technology industry, particularly companies that augment Global Travel Exchange's product. There are a number of potential acquisitions that may make Global Travel Exchange's system more robust and marketable to a broader range of customers, and these would be ideal candidates for the GTREX Capital portfolio. The core focus will be to assemble a portfolio of performing assets and expand our business interests for the benefit of our shareholders."
About GTREX Capital, Inc.
GTREX Capital, Inc. 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, such as reservation systems and travel suppliers of airlines, cruise lines, hotels, and car rental companies, where management has significant experience and expertise.
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.