FRESNO, Calif., Sept. 17, 2008 (GLOBE NEWSWIRE) -- Pro Travel Network, Inc. (OTCBB:PTVL) is pleased to announce today that the company has entered into an agreement to acquire KG & S Pty. Ltd, which has operated its travel business for nearly 20 years, and is among the leading online travel agencies in the Melbourne area. The Australian market is strategic in Pro Travel Network's long term business plans and this acquisition will allow Pro Travel to expand services to customers in the Australian market. This acquisition gives Pro Travel immediate access to already established relationships with all major hotels, airlines and car rentals within the greater Australian area.
The acquisition brings incremental value to the existing shareholders of Pro Travel Network and will immediately increase our customer base. Integration of the business with Pro Travel Network is expected to be completed in the next 3 months.
"It is an exciting moment for us and this acquisition extends our global reach to the Australian market," stated Paul Henderson, CEO and President of Pro Travel Network. "The Australian market is part of our strategic plans for the growth of Pro Travel Network. We have a successful track record in business, and experience from our Canadian expansion makes us confident in international markets. Not only do we believe Australia is an important part of our expansion, but it also serves as the perfect launch pad to capture the lucrative Asia-Pacific travel market in the future. This summer has been an exciting time as many of our future expansion plans have come to fruition."
About Pro Travel Network
Pro Travel Network is an emerging growth, direct to consumer service business, leveraging powerful home-based business concepts with the travel industry that offers one of the most unique and comprehensive independent travel agent training packages.
The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections. The OTC Bulletin Board has not reviewed this press release and neither approved nor disapproved the information contained in this press release.
For more information, please review the company's filings with the Securities & Exchange Commission (http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=5939379-678-74250&type=sect&TabIndex=2&companyid=701031&ppu=%252fDefault.aspx%253fcompa nyid%253d701031%2526amp%253bformtypeID%253d23).
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties. Although Pro Travel Network, Inc. believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any assumption could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion should not be regarded as a representation by Pro Travel Network, Inc. or any other person that the objective and plans of Pro Travel Network will be achieved.