DUBLIN, Ireland, Jan. 8, 2007 (PRIME NEWSWIRE) -- IntelliFares Ltd. announced today it has selected UBS AG (NYSE:UBS), the leading Swiss bank, as its first depository for customer payments in its IntelliFares(tm) subscription service. IntelliFares Ltd. of Dublin, Ireland is a wholly owned subsidiary of Crystal International Travel Group (OTCBB:CINT), and will commence marketing the IntelliFares brand in the USA early in the first quarter 2007.
As previously announced, the IntelliFares brand being launched currently is a prepaid subscription to five years of air travel at a fixed price, so consumers, especially those who own time-share vacation property and other "predictive pattern travelers," can lock in the future costs of their vacation. Sales are now being negotiated on a bulk basis with distributors and consumer sales will commence in the first quarter of 2007. It is being marketed under the tag line "Tomorrow's Travel at Today's Prices."
According to Peter Dugan, Managing Director and President of IntelliFares Ltd., "From the outset, and confirmed by our market research, purchase intent and marketplace validity of the brand were directly dependent on the quality of our partner's handling of customer deposits. As such, we developed a depository policy at the operating company board level with very high 'trustworthiness' and 'creditworthiness' benchmarks even to be considered. UBS, with a credit rating of AA+, is one of the highest ranked in the world, and a natural first partner for us," Mr. Dugan continued. He further explained that it is likely IntelliFares Ltd. will add additional depository partners as the business customer base reaches critical mass.
In addition, the company announced it had appointed HLB Nathans as accountants and O'Hare, O'Connor Walshe as solicitors, both of Dublin.
Safe Harbor Statement: This press release contains forward-looking statements, which are made pursuant to the Safe-Harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect the views of Crystal International Travel Group, Inc.'s (the "Company") management regarding current expectations and projections pertaining to future events and are based on currently available information. These forward-looking statements involve a number of risks and uncertainties, including the ability of the Company to build out the IntelliFares(tm) product and generate sufficient sales of the product, and the successful completion of its distribution network, and other factors described in the Company's respective filings with the Securities and Exchange Commission. Other unknown or unpredictable factors also may have material adverse effects on Crystal's business, financial conditions and results of operations. Accordingly, readers should not place undue reliance on these forward-looking statements. The use of words such as anticipates, estimates, expects, is in process, intends, plans and believes, among others, generally identify forward-looking statements; however, these words are not the exclusive means of identifying such statements. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. These forward-looking statements are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict. The Company is not under any obligation and does not intend to publicly update or review any of these forward-looking statements, whether as a result of new information, future events or otherwise, even if experience or future events make it clear that any expected results expressed or implied by those forward-looking statements will not be realized.