Clicks and Mortar - B2B and B2C Press Release Oct-25-1999


Leading “Clicks and Mortar” B2b and B2C Travel Provider,

ETRAVNET.COM, Commences Trading –OTC BB: ETVT-


NEW YORK – (BUSINESS WIRE) – Sept. 29, 1999 – Tower Hill Securities, Inc. announced today that its client, ETRAVNET.COM, Inc. (OTC BB:ETVT), a leading franchisor of independently owned travel agencies with a growing Internet presence, began trading today on the OTC Bulletin Board under the symbol ETVT. The formation of ETRAVNET and its public listing follows: (i) the close of the acquisition by Playorena, Inc. of Global Travel Network, LLC, (ii) a reverse stock split, and (iii) change of name and ticker symbol. ETRAVNET has 5,225,781 shares outstanding. Tower Hill Securities, Inc. advised Global Travel Network with respect to the merger.

In business since 1982, ETRAVNET, through its “Global Travel Network” franchise business, has more than 350 locations throughout the United States, including over 50 franchised travel agencies within Wal-Mart Supercenters nationwide. Internationally, the Company has more than 50 international franchised agencies and master franchisees representing 21 countries and the Caribbean. Through its operations, ETRAVNET’s franchisees generated over $1.5 billion in gross retail sales in 1998. The Company has forged a strategic alliance with GoGo Worldwide Vacations, a leading wholesaler of travel packages. Separately, Liberty Travel, a major retail travel agency chain affiliated with GoGo, owns an 8% interest in ETRAVNET through an investment made prior to this merger.


“Becoming a public company is a critical step in our ongoing effort to expand our travel services to agencies and consumers worldwide,” said ETRAVNET president, Michael Brent.

“Our improved access to the capital markets will enable us to enhance our ‘clicks and mortar’ strategy and positions us for acquisitions, partnerships, and other initiatives to increase sales through our proprietary ETRAVNET Internet platform,” he said. “We will continue to enhance the products offered through our website, which has been rated the #8 website in the travel industry by Gomez.com following Microsoft’s Expedia who was #7,” according to Stephanie Abrams, ETRAVNET Executive Vice President. “We are quite proud that Gomez compared our business model to Schwab. Our mission is to be the premier travel provider globally offering ‘clicks and mortar’ opportunities to meet each client’s travel purchase needs for the client’s convenience,” Abrams concluded.


ETRAVNET is being advised on the implementation and execution of its strategy by Tower Hill Securities, Inc. “We look forward to continuing to work with ETRAVNET as a public company, as it expands through both virtual and traditional distribution channels,” said Tower Hill Vice President Lawrence Loeb.


About ETRAVNET.COM, Inc.


ETRAVNET.COM, Inc. (OTC BB:ETVT) was established through the merger of Global Travel Network, LLC with Playorena, Inc. ETRAVNET, under the “Global Travel Network” trade name, is a leading franchisor of travel agencies based in Englewood Cliffs, NJ. The company, rated first among all the franchisors in North America by Income Opportunities Magazine (April ’99), has provided franchisees with a competitive edge and with award winning marketing and customer loyalty programs worldwide since its inception in 1982. Its marketing presence was expanded with its website development providing interactive travel booking capabilities and special savings resulting from its enormous buying power. The company has differentiated its Internet presence by providing the opportunity for the web consumer to click into one of its retail travel agency locations for personal attention from a travel consultant. The concept of “Log on, walk in, phone in,” offers travel clients the opportunity to purchase travel packages through the most convenient means to the client.


Continued domestic growth through the addition of existing agencies to the chain, development inside Wal-Mart Supercenters, globalization, and further innovative web product implementation, form the nucleus of the company’s strategic goals for further growth.


“SAFE HARBOR” STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: The statements contained in this release which are not historical facts are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. These risks and uncertainties include the Company’s entry into new commercial businesses, the risk of obtaining financing, and other risks described in the Company’s Securities and Exchange Commission filings.


CONTACT:

Stephanie Abrams