SOURCE: GTREX Capital, Inc.

October 10, 2006 09:59 ET

GTREX Capital Files Definitive Proxy Statement and Sets Date for Annual Shareholders Meeting

TEMECULA, CA -- (MARKET WIRE) -- October 10, 2006 -- GTREX Capital, Inc. (OTCBB: GRXI), an investment company with holdings in emerging travel-related businesses, has filed a Definitive 14A Preliminary Proxy Statement and scheduled its annual meeting of stockholders for November 15, 2006, at 10:00 a.m. Pacific time at the company's corporate offices in Temecula, California. The proxy statement is expected to be sent to shareholders on or about October 30, 2006.

Included in the proposals to be considered and voted upon by shareholders at the annual meeting is an authorization for the Board of Directors to withdraw the company's election to be treated as a business development company (BDC) pursuant to the Investment Company Act of 1940. Shareholders will also be asked to consider and vote upon proposals to elect to the Board of Directors to serve until the next annual meeting, as well as to ratify of the appointment of Chisholm, Bierwolf & Nilson as the company's independent public accountants and the appointment of Parsons Law Firm as the company's general counsel.

Only stockholders of record at the close of business on October 24, 2006 will receive proxies and are entitled to vote at the meeting.

"We are pleased to have filed the 14A Definitive Proxy Statement and to have set date for our annual meeting of shareholders," said Gary Nerison, chairman and chief executive officer of GTREX Capital. "The proposals under consideration at this meeting include the withdrawal of the company's BDC election, which management believes is critical for GTREX Capital to fully and effectively execute the company's business strategy.

"We hope that as many shareholders as possible participate in our annual meeting by voting their proxies. As the process of mailing the proxies moves forward, GTREX Capital will provide whatever assistance possible so that our shareholders can register their votes before the date of our annual meeting," Mr. Nerison added.

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About GTREX Capital, Inc.

GTREX Capital, Inc. ( 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. 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.

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