SOURCE: The OLB Group, Inc.

February 28, 2007 17:00 ET

OLB Group to Launch ShopFast™ Travel for Travel, Hotel, Rental Car and Cruise Line Vacation Reservations in Second Quarter

New Marketing Initiative to Tap Into Rapidly Growing Internet Travel Sector -- 44 Percent of U.S. Adult Population Utilizes Internet for Travel Arrangements

NEW YORK, NY -- (MARKET WIRE) -- February 28, 2007 -- The OLB Group, Inc. (PINKSHEETS: OLBG) announced today that OLB Group has begun the implementation of ShopFast™ to target the rapidly expanding internet travel marketing sector. The company anticipates the launch of ShopFast™ in the second quarter.

The OLB Group has initiated relationships with the largest providers in the travel industry to be able to offer to the company's subscriber clients the ability of selling travel services. Subscribers to the ShopFast™ Travel network will be able to offer travel services within 5 minutes of launching their travel sites.

The OLB Group will offer to its subscriber clients over 18,000 special Internet rates while offering an additional 40,000 properties from leading Global Distribution System (GDS) companies such as Sabre, Amadeus, Apollo and Worldspan. Subscriber clients will be able to offer customers a full array of vacation packages -- including, air, car rental & hotel -- in addition to cruise packages.

An added benefit of the ShopFast™ Travel offering is the use of the "Confidence Rating" (patent pending), which informs clients on which properties to sell. A destination guide content of over 5,000 cities worldwide is included. An added marketing feature is a "Monthly Specials" for cruises.

Approximately 90 million online travelers, or about 44 percent of the U.S. adult population, utilize the internet when making travel arrangements. Two-thirds (66%) of these online travelers, or 59.4 million U.S. adults, have used the internet to make travel plans in the last year alone. Travel planning consists of activities such as getting information on destinations or comparing prices and checking schedules -- up 23 percent from 48.1 million adults in 1999. Travel reservations include actual booking or paying for an airline ticket, hotel room, rental cars, package tours etc.

Search engine websites are the most popular for online travel planning (77%) followed by company-run websites and destination sites at 63 percent each. Online travel agency sites are used by 52 percent of online travel planners.

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About The OLB Group

The OLB Group is an e-commerce service provider that delivers fully outsourced private label shopping solutions. We provide our clients with a seamless, end-to-end e-commerce solution, including site creation, hosting, transaction processing, order fulfillment, customer service, sales reporting, as well as a virtual inventory of name-brand products from top-selling categories on the Internet. Our private label shopping site is designed to maintain the unique look and feel of our customer's website, providing seamless e-commerce functionality that keeps users on the on the shopping site at all times. Order fulfillment and customer service are also provided under the brand names of our clients. We remain invisible to the consumer. Our e-commerce platform also enables our clients to create their own online marketing promotions and to customize product content to meet the needs of their online users. Our turnkey online shopping solutions include "ShopFast Direct Shopping Database" or "ShopFast DSD," and ShopFast PC (profit center). For more information, please visit http://www.olb.com http://www.shopfast.com http://www.shopfast.net

Legal Notice Regarding Forward-Looking Statements: "Forward-looking statements" may be included in this news release. These statements relate to future events or our future financial performance. These statements are only predictions and may differ materially from actual future results or events. The OLB Group, Inc. disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. There are important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to risks associated with changes in general economic and business conditions (including in the information technology and financial information industry), actions of our competitors, the extent to which we are able to develop new services and markets for our services, the time and expense involved in such development activities, the level of demand and market acceptance of our services, changes in our business strategies.

Contact Information

  • Contact:
    Ronny Yakov
    The OLB Group, Inc.
    (P) 212-278-0900
    email: Email Contact