The Global Travel Exchange and Bookings of the Netherlands sign a milestone liquidity agreement.

Paris, France -- Today The Global Travel Exchange, the first global exchange for the tourism industry, has signed a strategic letter of Interest where Bookings, an online leader in hotel reservations, will commit to integrate the GTX marketplace within its online hotel management module, hence giving the Global Travel exchange instant access to 16,000 hotel properties spread over 80 countries.

The Global Travel Exchange and Bookings of the Netherlands sign a milestone liquidity agreement.

Press Release

Source: Forus Management / GTX
21/06/2002

Paris, France -- Today The Global Travel Exchange, the first global exchange for the tourism industry, has signed a strategic letter of Interest where Bookings, an online leader in hotel reservations, will commit to integrate the GTX marketplace within its online hotel management module, hence giving the Global Travel exchange instant access to 16,000 hotel properties spread over 80 countries.

Mr. Nawar Alsaadi GTX Co-founder and business development director has expressed we are delighted that an industry leader such as Bookings has clearly expressed interest in providing liquidity to the Global Travel Exchange, this collaboration further validates our vision and supports our business plan to create a global and dominate marketplace for the $3 trillion dollar tourism industry".

Management at the Global Travel Exchange is working actively to increase and secure liquidity on the GTX, it is our core strategy to secure sufficient liquidity on the GTX before the planned launch in the second quarter of 2003, while having state of the art technology behind the exchange is exciting, such technology is worthless without an active customer base". Mr. Donnie Moseley, GTX Strategic Planning Director has commented.

GTX is currently in talks with a number of venture funds, banks and angel investors to further fund the GTX and position it for full launch by the second quarter 2003.

Contact:

Mr. Nawar Alsaadi
Business Development Director
Tel: 33-1-45790979
Fax: 33-1-45797359
Email: Nawar@forusmanagement.com

Mr. Donnie Moseley
Strategic Planning Director
Tel: 33-6-08114059
Fax: 33-1-45797359
Email: don@forusmanagement.com

About The Global Travel Exchange (GTX)

The Global Travel Exchange (GTX) is an interactive B2B online marketplace based in Paris, France, where buyers and sellers of block or mass travel and tourism products and services are connected through the internet and interact by way of an innovative auction and trading platform software created by our technology partners. The GTX was developed in order to make the Global Travel market more efficient, transparent and profitable for travel professionals. GTX not only matches travel providers needs with travel suppliers, but GTX in essence is creating a new market where travel blocks can be traded, hedged, shorted and used as options.

www.GTXmarketplace.com

About Bookings

BOOKINGS originated in the Netherlands, where the company is market leader in on-line hotel reservations. The overall BOOKINGS database consists of more than 16,000 independent hotels and chain-hotels. The BOOKINGS global website receives over 25,000 visitors per day and the system currently covers 80 countries worldwide. The BOOKINGS head office is situated in Amsterdam, was founded in 1996 and is rapidly expanding.

www.bookings.org