SOURCE: GTREX Capital, Inc.

August 21, 2007 09:12 ET

GTREX Capital Consultant CEO Discusses Stock Structure and Status of Acquisition Strategy

MURRIETA, CA--(Marketwire - August 21, 2007) - GTREX Capital, Inc. (OTCBB: GRXI), a holding company with subsidiaries doing business in the travel industry, today issued a statement from Steven R. Peacock, consultant chief executive officer of the company, in which he addressed GTREX Capital's public "float" and the status of a definitive agreement related to a proposed acquisition of Elleipsis, Inc. by GTREX Capital.

According to information received from the company's transfer agent and the Depository Trust Corporation (DTC), the number of GTREX Capital shares in the public float as of August 8, 2007 was approximately 268,000,000 shares.

"We have recently heard from shareholders that there was erroneous information regarding the number of shares in GTREX Capital's public float posted on several Internet websites, and we felt that for the sake of accuracy, it was important to correct any misconceptions about the amount of shares currently trading in GTREX Capital's float," commented Mr. Peacock.

Mr. Peacock also addressed the status of the definitive agreement that is being negotiated under which GTREX Capital would acquire all of the issued and outstanding shares of Elleipsis, Inc.

"The focus of our due diligence and the negotiations related to a definitive agreement has been to ensure that this is the ideal acquisition for GTREX Capital and to make certain that all of the appropriate due diligence information has been exchanged between the company and Elleipsis, Inc. and that any remaining questions from both parties have been answered. We firmly believe that GTREX Capital possesses several characteristics that would make it an excellent public vehicle for the appropriate acquisition candidate, not the least of which is its fully reporting status on the over-the-counter bulletin board market. The company also has an operating company, Global Travel Exchange, that we believe has strong potential to return value for shareholders," stated Mr. Peacock.

"Management remains committed to delivering long-term value for shareholders by properly executing an acquisition strategy, and we believe that we are close to a definitive agreement with Elleipsis," Mr. Peacock added.

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About GTREX Capital, Inc.

GTREX Capital, Inc. (http://www.gtrexcapital.com) is a holding company with subsidiaries doing business in the travel industry. The company is normally traded under the symbol GRXI, but is currently traded as GRXIE, due to a delinquent annual report, which is expected to be filed shortly. Global Travel Exchange, Inc. (www.gtrex.com), 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 recently acquired all of the outstanding shares of Global Travel Partners, a Nevada corporation that owns 100% of AsiaWorld Travel Vancouver, Ltd., and Dominion Pacific Travel, two British Columbia-based travel companies.

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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    Gemini Financial Communications, Inc.
    A. Beyer
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