GRSNetwork(TM) Signs LOI With Asia Travel Network

GRSNetwork(TM) and Asia Travel Network to Form a Technology Business

Relationship



Apr 25, 2001, 01:00 ET from GRSNetwork

    SAUSALITO, Calif. and KUALA LUMPUR, Malay, April 25 /PRNewswire/ --
 GRSNetwork(TM) (GRS), an international business-to-business-to-consumer
 (B2B2C) Internet infrastructure technology company for traditional and online
 travel agencies, travel suppliers and home-based agents, today announced it
 has signed a Letter of Intent (LOI) to form a technology business relationship
 with Asia Travel Network Sdn Bhd (ATN). ATN operates Asiatravelmart.com,
 Asia's Number One On-line Travel Marketplace offering more than
 110,000 products from over 43,000 suppliers.
     (Photo:  http://www.newscom.com/cgi-bin/prnh/20010306/GRSLOGO )
     Based on the LOI, GRS and ATN will mutually integrate their respective
 technology platforms so that each party and their affiliates/business partners
 will have access to license the other company's respective offerings. ATN will
 be able to license core GRS products including TravelExpert(TM),
 CruiseExpert(TM), TourExpert(TM), ResLink(TM) and GRStwist(TM). GRS will in
 turn be able to license from ATN, content from ATN's Online Travel Reservation
 System (OTRS) as well as the Payment Gateway. The Payment Gateway, Secure
 Electronic Settlement (SES), is the only available system in Asia and in the
 world that support multi-currency transactions over the Internet. In addition,
 GRS has shown further interest in a B2B travel solution, Business Travel
 Management System (BTMS), designed and developed by AFOOFA, a technology
 division of ATN, and will seek to distribute this travel solution in the
 United States.
     "This LOI accelerates our plans for expansion into Asia," said
 Terry Lazar, GRS' Senior Vice President Business Development. "We now have a
 strategic relationship with a technology partner who shares a common vision of
 providing complete travel solutions on a global scale."
     Alex Kong, Chairman and Chief Executive Officer of ATN said, "Our
 individual strength acts as a catalyst for this strategic opportunity. Through
 data sharing, we have lower cost of ownership because of common architecture.
 Moreover, GRSNetwork is a force to be reckoned with and their interest in our
 Business Travel Management System (BTMS) reflects a symbiotic portfolio."
     Both parties shall explore cross licensing each other's technology
 solutions. This business relationship will synergize the two companies'
 strength to achieve their respective business objectives at a lower cost and
 shorter time to seize the global market.
 
     About GRSNetwork
     GRSNetwork is an Internet infrastructure technology company providing
 business-to-business-to consumer (B2B2C) travel and procurement solutions.
     GRSNetwork has developed a powerful suite of Internet-based,
 point-and-click tools that provide travel agents with an alternative to the
 traditional CRS, including key products such as TravelExpert(TM),
 TourExpert(TM), PrintServer(TM), IAR Expert(TM) and CruiseExpert(TM).
 Commissionable services such as selling foreign currency, travelers' checks,
 travel insurance, passport and visa services as well as event ticketing are
 integrated into the Web-based professional products and offer agencies the
 ability to increase service and revenues.
     GRSNetwork's B2B2C model empowers Internet customers to book air, car,
 hotel, cruise and tour bookings at any time while allowing agencies to receive
 full commissions. These transactions are made through agency-branded Web sites
 supplied by GRSNetwork.
     GRSNetwork's products are available in English, Korean, Simplified
 Chinese, Traditional Chinese, Malay, Japanese, French, German, Dutch, Latin
 Spanish and Brazilian Portuguese.
     For more information about GRSNetwork, visit the Web site at
 www.grsnetwork.com or call 415-289-4200.
 
     About Asia Travel Network
     Asia Travel Network (ATN) is Asia's leading provider of
 business-to-business (B2B) and business-to-consumer (B2C) travel solutions to
 the travel industry worldwide. ATN acts as a platform for travel buyers and
 sellers worldwide to trade their travel-related products and services via a
 secure Internet connection. It has more than 110,000 products ranging from
 flights, hotels, car rentals, tour packages, transfers and meals from over
 43,000 travel suppliers in more than 200 countries. ATN also provide a
 comprehensive secure electronic settlement service that could support
 multi-currency transactions over the Internet. ATN owns and operates
 Asiatravelmart.com, an award-winning online travel service, and has developed
 Business Travel Management System (BTMS), a B2B travel solutions, which offer
 the absolute advantage of travel management in real-time. The company has
 offices in Malaysia, Singapore and Hong Kong.
 
                      MAKE YOUR OPINION COUNT - Click Here
                http://tbutton.prnewswire.com/prn/11690X68171185
 
 

SOURCE GRSNetwork
    SAUSALITO, Calif. and KUALA LUMPUR, Malay, April 25 /PRNewswire/ --
 GRSNetwork(TM) (GRS), an international business-to-business-to-consumer
 (B2B2C) Internet infrastructure technology company for traditional and online
 travel agencies, travel suppliers and home-based agents, today announced it
 has signed a Letter of Intent (LOI) to form a technology business relationship
 with Asia Travel Network Sdn Bhd (ATN). ATN operates Asiatravelmart.com,
 Asia's Number One On-line Travel Marketplace offering more than
 110,000 products from over 43,000 suppliers.
     (Photo:  http://www.newscom.com/cgi-bin/prnh/20010306/GRSLOGO )
     Based on the LOI, GRS and ATN will mutually integrate their respective
 technology platforms so that each party and their affiliates/business partners
 will have access to license the other company's respective offerings. ATN will
 be able to license core GRS products including TravelExpert(TM),
 CruiseExpert(TM), TourExpert(TM), ResLink(TM) and GRStwist(TM). GRS will in
 turn be able to license from ATN, content from ATN's Online Travel Reservation
 System (OTRS) as well as the Payment Gateway. The Payment Gateway, Secure
 Electronic Settlement (SES), is the only available system in Asia and in the
 world that support multi-currency transactions over the Internet. In addition,
 GRS has shown further interest in a B2B travel solution, Business Travel
 Management System (BTMS), designed and developed by AFOOFA, a technology
 division of ATN, and will seek to distribute this travel solution in the
 United States.
     "This LOI accelerates our plans for expansion into Asia," said
 Terry Lazar, GRS' Senior Vice President Business Development. "We now have a
 strategic relationship with a technology partner who shares a common vision of
 providing complete travel solutions on a global scale."
     Alex Kong, Chairman and Chief Executive Officer of ATN said, "Our
 individual strength acts as a catalyst for this strategic opportunity. Through
 data sharing, we have lower cost of ownership because of common architecture.
 Moreover, GRSNetwork is a force to be reckoned with and their interest in our
 Business Travel Management System (BTMS) reflects a symbiotic portfolio."
     Both parties shall explore cross licensing each other's technology
 solutions. This business relationship will synergize the two companies'
 strength to achieve their respective business objectives at a lower cost and
 shorter time to seize the global market.
 
     About GRSNetwork
     GRSNetwork is an Internet infrastructure technology company providing
 business-to-business-to consumer (B2B2C) travel and procurement solutions.
     GRSNetwork has developed a powerful suite of Internet-based,
 point-and-click tools that provide travel agents with an alternative to the
 traditional CRS, including key products such as TravelExpert(TM),
 TourExpert(TM), PrintServer(TM), IAR Expert(TM) and CruiseExpert(TM).
 Commissionable services such as selling foreign currency, travelers' checks,
 travel insurance, passport and visa services as well as event ticketing are
 integrated into the Web-based professional products and offer agencies the
 ability to increase service and revenues.
     GRSNetwork's B2B2C model empowers Internet customers to book air, car,
 hotel, cruise and tour bookings at any time while allowing agencies to receive
 full commissions. These transactions are made through agency-branded Web sites
 supplied by GRSNetwork.
     GRSNetwork's products are available in English, Korean, Simplified
 Chinese, Traditional Chinese, Malay, Japanese, French, German, Dutch, Latin
 Spanish and Brazilian Portuguese.
     For more information about GRSNetwork, visit the Web site at
 www.grsnetwork.com or call 415-289-4200.
 
     About Asia Travel Network
     Asia Travel Network (ATN) is Asia's leading provider of
 business-to-business (B2B) and business-to-consumer (B2C) travel solutions to
 the travel industry worldwide. ATN acts as a platform for travel buyers and
 sellers worldwide to trade their travel-related products and services via a
 secure Internet connection. It has more than 110,000 products ranging from
 flights, hotels, car rentals, tour packages, transfers and meals from over
 43,000 travel suppliers in more than 200 countries. ATN also provide a
 comprehensive secure electronic settlement service that could support
 multi-currency transactions over the Internet. ATN owns and operates
 Asiatravelmart.com, an award-winning online travel service, and has developed
 Business Travel Management System (BTMS), a B2B travel solutions, which offer
 the absolute advantage of travel management in real-time. The company has
 offices in Malaysia, Singapore and Hong Kong.
 
                      MAKE YOUR OPINION COUNT - Click Here
                http://tbutton.prnewswire.com/prn/11690X68171185
 
 SOURCE  GRSNetwork