ALL YOU WANTED TO KNOW BUT WERE AFRAID TO ASK, with the booming travel season coming things will be looking up.
This is fax-text conversion , any errors please forgive :)
EXA International, Inc.
EXECUTIVE SUMMARY
The Company
EXA International, Inc., a Minnesota corporation, formerly Double Five Financial Corporation (the Company=), acquired EXA
International, Inc., a Florida corporation, ins Snare Exchange Agreement dated July 17,1998. The acquired company and
its wholly owned subsidiaries ("EXA"), were founded in April 1994 by John C. Curran, Stanley Priskie and an unaffiliated
group of investors from New York and South Florida, with a capital investment of $830,000 in common shares, $6 million
in 9% callable convertible preferred shares and approximately $2 million in loans. EXA is a franchisor of three different types
of travel agencies. In addition, EXA has developed or is in the process of developing several programs that enhance the
franchise network and provide sales volume to the Company and its franchisees.
EXA's "First Discount Travel" franchise program offers a traditional, full service, store front travel agency. The 'Vacationsss"
program offers franchises focusing on tours and cruises, with locations in small, highAraffic retail environments. Finally, the
iCEXA Master Franchise" program is designed to sell large geographically protected regional franchises, that in addition to
operating one or more full service travel agencies, sell sub-franchises 'within the protected tembry. The subAranchisees or
Travel Specialists, use EXA's remote location access, full service travel agency program to sell travel and travel related
services, primarily to family and friends-
The EXA enhancement programs consist of two subscription programs. EXA Connection offers a 30% rebate available for
use on future personal travel and "Just In Time Travel" offers last minute availability oftours and cruises at discounted prices.
EXA Call is a specialized call distribution system using an interactive, intelligent database to forward customer calls to the
geographically closest and best qualifled travel agent to assist the caller with any purchasing needs. In development is an
Internet Web Site for the Company and its franchisees, as well as an Intranet Site for private communications within the
Company. Choice Vacations, Inc., is the Company's wholesale tour operator, providing the franchise network with first
availability of its products and then offering its tours through independent travel agencies.
The Company (NASDO OTC /88: ETVL), is currently positioned to take advantage of the paradigm shifts in the more than
$7 trillion worldwide travel industry. The travel industry is expected to become the largest industry in the world in the year
2000. Traditional, independent store4ront travel agencies have experienced a reduction of their profit margins since the
introduction of caps on commissions and a reduction of standard point-of-sale commissions put into effect by the domestic'
airlines in 1995 and 1998.
With few exceptions, travel agencies are privately held. Smaller agencies are finding it difficult to remain profitable. Larger
agencies, while remaining profitable, are experiencing eroding profits, unless steps are taken to reduce overhead and/or
focus marketing efforts toward higher commissionable products. The Company has targeted for acquisition medium to large
travel agencies that have gross bookings in excess of $250 million in annual travel and travel related services. Many orthese
companies are family owned with over twenty years of operating experience. Additionally, the Company has targeted for
acquisition travel agency franchisors, the franchisees of which have aggregate annual bookings of travel and travel related
services of approximately $200 million. The targeted acquisitions have a combined volume of direct sales or franchisee
sales in excess of $1 billion. The Company's plan is acquire these targeted companies using a combination of cash and
stock.
Officers and Directors
John C. Curran - Director, President, and Chief Executive Officer. Mr. Curran started in the travel business in 1982 and
grew his agency to one of the largest in South Florida. He served on the Travel Agency Board of Advisors for Continental
Airlines andjoined the Uniglobe franchise system in 1991. During his tenure with Uniglobe, Mr. Curran was twice nominated
as Franchise Owner of the Year, served on the Board of the Franchise Owners Association and was appointed Media
Spokesperson for the uniglobe Florida region. Mr. Curran is a lifetime member of Who's Who Worldwide. Previously, Mr.
Curran was president of a family business with an annual revenue of $42 million, before it was sold to a Fortune 500
company.
Stanley Prisicie - Director and Secretary treasurer. Mr. priskie has served as an officer and Director of the Company since
its inception in 1994. Since 1981, he had been a consultant to Konigsberg Wolf & Co, P.C., a public accounting firm. Mr.
priskie was licensed to practice in Florida and New York prior to his retirement from practice in 1993. Since 1990, he has
been a consultant to the Roard of Directors of Eden Park Management, a company that owns and operates nursing homes.
Mr. Priskie received a degree in Accounting frnm Pace University.
440 South Federal Highway, Suite 104 Deerfeld Beach, Flonda 33441
(954) 725-5570 1(954) 725-5571 fax |
