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GTREX Capital Announces Connection Agreement with Tour Operator
ALISO VIEJO, Calif., Dec 14, 2005 (BUSINESS WIRE) -- GTREX Capital, Inc. (OTCBB:GRXI) today announced that its wholly owned operating subsidiary, Global Travel Exchange, Inc., a leading provider of direct access travel distribution technology, has entered into a connection agreement with a leading tour package company to allow customers to connect to travel inventory using Global Travel Exchange's Voyager Network "direct connect" travel distribution platform.
The agreement details the implementation of the Voyager Network, a more efficient and cost-effective connection between customers and the tour company, which packages travel amenities that include sightseeing, meals, cultural events, leisure time activities and accommodations. Voyager Network's direct connect solution offers vastly improved services while reducing distribution costs for the supplier as transaction fees generate revenues for Global Travel Exchange.
Global Travel Exchange has developed and implemented several XML (Extensible Markup Language) interfaces, in accordance with OTA specifications, to ensure a direct connection between Global Travel Exchange and suppliers of travel services. XML, a cross-platform software and hardware-independent tool for storing and transmitting information, is becoming the standard method to communicate data between servers and between servers and browsers. Global Travel Exchange's high-quality direct connection will provide clients with access to higher quality information, translating into more convenience for travelers and travel arrangers.
"We are pleased to add this connection agreement to our previous contract that provided for web services and system management for this customer," commented Christopher Berlandier, GTREX Capital chairman and chief executive officer. "The additional cost saving and technological superiority of the Voyager Network will provide an ongoing benefit for this and additional tour company customers that we expect to establish similar connections in the future.
"The Voyager Network WS Management Service will manage travel suppliers' customer connections, and this is a service that is particularly attractive to the travel industry. Global Travel Exchange expects to add a number of new clients for its WS Management Services in the near term," said Mr. Berlandier.
(WSMS) helps suppliers derive value from their production grade Web Services, XML interfaces or from the integration of the Voyager Network distribution channel. During the distribution process Web Services and/or XML interfaces are deployed, the need to effectively manage such visibility becomes imperative. WSMS addresses the need to ensure high availability, to restrict access to eligible users, to provide interfaces that are immutable and to manage billings and contracts. Global Travel Exchange manages supplier Web Service deployments so any supplier can charge for services the same way as a utility company does. WSMS helps with authoring and managing Service Level Agreements (SLA), ensures Quality of Service (QoS) while optimizing available resources, supports various pricing models based on usage and agreed service levels and minimizes investment in tech and skills needed on an on-going basis.
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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.
SOURCE: GTREX Capital, Inc.
Gemini Financial Communications A. Beyer, 951-587-8072 investors*gtrexcapital.com
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