SOURCE: GTREX Capital, Inc.

February 20, 2008 09:52 ET

GTREX Capital Announces Resignation of Directors in Preparation for Acquisition of International Brand for Travel, Tourism and Related Businesses

Close of Acquisition Expected by the End of the Week

MURRIETA, CA--(Marketwire - February 20, 2008) - GTREX Capital, Inc. (OTCBB: GRXI), a holding company with subsidiary operations in the travel distribution industry, today announced that in preparation for the close of the acquisition of an international green brand for sustainable tourism and related businesses, two members of the GTREX Capital Board of Directors have submitted their resignations, effective February 19, 2008.

Directors James Bickel and Robert McCoy submitted their resignations and will be replaced by new Board members who are affiliated with the green brand that is being acquired by GTREX Capital. Mr. Bickel and Mr. McCoy are expected to continue to be involved with the company in some capacity.

Mr. Bickel was appointed to the GTREX Capital Board in January 2005, and Mr. McCoy was appointed to the Board in October 2005.

"We would like to thank Mr. Bickel and Mr. McCoy for their exemplary service to the Board over the last several years, and we look forward to their ongoing involvement with the post acquisition company," stated Steven R. Peacock, interim president/chief executive officer. "These resignations pave the way for the appointment of the new Board members who have been involved with the international green brand that GTREX Capital is acquiring. The new Board members have considerable profile in the international sustainable travel and tourism space, and we are extremely pleased to be setting the events in motion that will lead to the close of the acquisition by the end of the week."

In December 2007, GTREX Capital entered into an initial agreement outlining the acquisition that called for the acquisition of a majority interest in the targeted company, which owns the green brand and holds an interest in an existing joint venture with operations, existing clients and revenues. The planned structure of the post-acquisition entity is that the public company will house the green brand, which is expected to become synonymous with green sustainable tourism worldwide. There will be operating subsidiaries of the public company, including 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.

In anticipation of the close of the acquisition, the company is developing a new corporate website that will provide links to the post acquisition subsidiaries, affiliates and joint venture relationships. In order to communicate effectively with its shareholders and the public markets, management will maintain the company's email alert system on the GTREX Capital website (http://www.gtrexcapital.com/investor.php) and transfer all of the contacts to the new site so shareholders can continue to receive information on the acquisition. GTREX Capital encourages anyone who wants to follow the story of the acquisition and the resulting company to subscribe to receive the email alerts.

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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