SOURCE: GTREX Capital, Inc.

June 01, 2006 09:25 ET

GTREX Capital Files Preliminary Proxy for Annual Meeting

Proposals Include Withdrawal of Business Development Company Election

ALISO VIEJO, CA -- (MARKET WIRE) -- June 1, 2006 -- GTREX Capital, Inc. (OTCBB: GRXI), an investment company with holdings in emerging travel-related businesses, has filed a 14A Preliminary Proxy Statement announcing plans to hold its annual meeting of stockholders on June 30, 2006, at 10:00 a.m. Pacific time at the company's corporate offices. A subsequent 14A Definitive Proxy Statement that will confirm the meeting date and time is expected to be filed within 10 days and sent to shareholders of record on or about June 9, 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.

"As explained in the preliminary proxy, GTREX Capital has targeted and is contemplating several additional investments that have an international element that could effect the company's compliance with elements of the Investment Company Act," said chairman and chief executive officer Christopher Berlandier. "The Board believes that these potential investments in global markets will be critical for the company and its efforts to return long-term value to shareholders. As a result, the Board is recommending approval of the BDC withdrawal so the company's future growth will not be hindered."

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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. (www.gtrex.com), 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. A second portfolio company, Global Financial Exchange, was formed to manage and oversee the expansion of Global Travel Exchange's growing debit and cheque card business, which allow customers to pay for travel or any other products and services wherever the cards are accepted around the world and obtain money from automated teller machines. The cards also allow customers access to unique and affordable travel packages and inventory across the globe, as well as providing savings for users who order additional branded cards, including as a membership card with loyalty features such as discounts on travel products. 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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