Feb. 12, 1999--Genisys Reservation Systems, Inc. (NASDAQ: NETC/GENS) has begun trading under a new symbol, NETC, it was announced today by Larry Burk, president and CEO. The company will ask
shareholders to approve a name change, from Genisys Reservation Systems, Inc. to netcruisetravel.com, inc. at its next annual
shareholders meeting.
''These changes reflect our new strategic direction, as an Internet travel company,'' Burk said.
As previously announced, the company plans to launch www.netcruise.com, a full-service Internet travel site, in mid-February.
The site will allow NetCruise independent travel consultants to research and book travel. The content also will include travel
packages, including cruises. In addition, the company will offer subscriptions to the travel site that will allow consumers to
become part of the NetCruise Independent Travel Consultant Network. Network members will receive travel discounts. They
also will receive commissions on all the travel they book for themselves and/or for friends, relatives and business associates.
NetCruise.com features patent-pending proprietary technology that allows members to view instant, full-motion video of travel
destinations through seamless interaction with the NetCruise CD Rom travel library.
Genisys Reservation Systems, Inc. has specialized in the design and operation of computerized reservation systems for the
travel industry, and has now focused its efforts on the on-line travel business.
This press release contains ''forward-looking statements'' within the meaning of the Private Securities Litigation Reform Act of
1995, regarding the Company's business strategy and future plans of operations. Forward-looking statements involve known
and unknown risks and uncertainties, both general and specific to the matters discussed in this press release. These and other
important factors, including those mentioned in various Securities and Exchange Commission filings made periodically by the
Company, may cause the Company's actual results and performance to differ materially from the future results and performance
expressed in or implied by such forward-looking statements. The forward-looking statements contained in this press release
speak only as of the date hereof and the Company expressly disclaims any obligation to provide public updates, revisions or
amendments to any forward-looking statements made herein to reflect changes in the Company's expectations or future events.
Contact:
Genisys Reservation Systems Inc., Union
Larry Burk, 908/810-8767 |
