Exclusive Cruises & Resorts Inc. Announces New International Subsidiary
MIAMI BEACH, Fla.--(BUSINESS WIRE)--March 31, 2000--Exclusive Cruises & Resorts, Inc. (OTCBB: XCLU) today announced the commencement of operations of ExclusiVacations travel, Ltd. (Greece), its first international sales and marketing subsidiary.
ExclusiVacations, Inc., of Florida, owns 80% of this new company. Commenting on this new subsidiary, Dr. George Macropulos, President of Exclusive Cruises & Resorts, Inc., stated, "By allowing local management to own the other 20% of this operation, we achieve both loyalty and the efficiencies of decentralization which is consistent with our corporate philosophy.
"The setup of this operation is the first step in our objective to set up joint-venture operations throughout the world, thereby building both our customer and asset base."
ExclusiVacations travel Ltd. (Greece) is projected to have annual revenues of $2,000,000 within 3 years, with an expected profit margin of 20%.
Exclusive Cruises & Resorts, Inc. is also the parent company of ExclusiVacations, Inc., its principal sales and fulfillment arm. The company's sources of revenue include timesharing, cruise and room sales from its own properties, as well as general travel services to its customer base.
Financial statements in this press release other than historical facts are "forward-looking" statements within the meaning of section 27A of the Securities Act of 1933, section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such statements about the Company's future expectations, including future revenues and earnings, and all other forward-looking statements are subject to the safe harbors created thereby. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results could differ materially from expected results.
--------------------------------------------------------------------------------
Contact:
For Exclusive Cruises & Resorts, Inc.
Steven G. Trapp & Company,
Steven G. Trapp, 888/253-2542
trappc1@ibm.net
or
xclustock.com |
