ALISO VIEJO, Calif., May 11, 2005 (PRIMEZONE) -- GTREX Capital, Inc. (OTCBB:GRXIE) today announced that chief executive officer Christopher Berlandier's recent trip to Asia has successfully concluded and that portfolio investment Global Travel Exchange is scheduled to sign its first customers and begin generating revenue by the first of June.
Global Travel Exchange's recently launched Voyager Network distribution platform has already garnered significant interest from potential customers and strategic partners in the international travel distribution industry, some of whom Mr. Berlandier met during his trip to Singapore and India. Mr. Berlandier also personally monitored progress of establishing a new data center to run the Voyager Network platform, the reservation system for Pacific Asian properties and a direct connection to suppliers in the region.
Global Travel Exchange expects to sign the first customers for its Voyager Network distribution platform this month and begin generating revenue from transactions and licensing and programming fees. As it broadens its travel-related product offerings with upcoming technology enhancements, Global Travel Exchange expects to begin serving customers ranging in size from major airlines to individual travel agencies.
Mr. Berlandier commented, "We are making tremendous progress in marketing the Voyager Network worldwide, and this trip to Asia demonstrated the abundant sales and business development opportunities in that region. We expect to announce Global Travel Exchange's first customers in the very near future, and to then scale up to capture a larger percentage of the $152 billion travel distribution industry in upcoming quarters. On top of the company's first revenues, we anticipate new and expanded e-commerce capacity that will allow customers to more directly utilize the Voyager Network, bringing a larger percentage of the fees generated in the transaction to Global Travel Exchange.
"With these positive developments and the filing of the company's 10-KSB Annual Report for fiscal year 2004 expected in the next few days, GTREX Capital is poised to move forward building long-term value in our investment fund," 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.