SOURCE: GTREX Capital, Inc.

January 03, 2008 09:43 ET

GTREX Capital Announces Additional CEO Meetings to Advance Merger Transaction Involving an International Green Brand

MURRIETA, CA--(Marketwire - January 3, 2008) - GTREX Capital, Inc. (OTCBB: GRXI), a holding company with subsidiary operations in the travel distribution industry, today announced that Steven R. Peacock, interim president/chief executive officer of the company has traveled to a number of global destinations for meetings with additional stakeholders of an internationally recognized green brand for sustainable tourism and additional environmentally conscious businesses. GTREX Capital recently entered into an initial agreement to acquire 80% of the issued and outstanding shares of the targeted company and is seeking to advance the merger transaction and position both the company and its related businesses for post-merger success.

In late December, Mr. Peacock traveled overseas for meetings with individuals closely associated with the merger target. After returning to GTREX Capital's corporate offices for several days, Mr. Peacock then traveled to additional overseas destinations for meetings related to the target company's subsidiary operations.

The initial agreement for the merger transaction, in the form of a memorandum of understanding, outlines the strategy for acquiring the targeted company, which has an existing subsidiary business with operations, existing clients and revenues. The planned structure of the post-merger entity is that the public company will house a high profile international green brand, which is expected to become synonymous with green sustainable tourism. There will be two operating subsidiaries of the public company: the existing subsidiary of the acquired company, and GTREX Capital's current operating subsidiary, Global Travel Exchange, a travel distribution technology company that provides a more efficient and cost-effective connection between customers and travel suppliers.

"We continue to be extremely encouraged by our progress in advancing this merger opportunity, and we look forward to reaching the stage when we can discuss in detail the international green brand and its subsidiary operations," commented Mr. Peacock. "At this point, we must continue to work primarily behind the scenes to secure the necessary commitments and terms so that once launched, the post-merger company can thrive in the public markets. In the meantime, we will continue to provide whatever information we can to keep our shareholders informed and assure them that management is working diligently to see this transaction come to fruition."

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About GTREX Capital, Inc.

GTREX Capital, Inc. (http://www.gtrexcapital.com) is a holding company with a subsidiary conducting business in the travel industry. Global Travel Exchange, Inc., a GTREX Capital subsidiary, 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. GTREX Capital is in the process of identifying synergistic and non-synergistic businesses as potential acquisition targets for the company.

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.

Contact Information

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