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TRITON ANNOUNCES PROGRESS ON ATP CONTRACT FULFILLMENT
Uniquely branded ReservationExpert™ is delivered to The Advanced Travel Partner (“ATP”) with industry leading tools
SAUSALITO, Calif.(BUSINESS WIRE) August 5, 2008Triton Distribution Systems, Inc. (OTCBB: TTDS)
Triton is very pleased to announce it has completed and delivered The Advanced Travel Partner (“ATP”) branded ReservationExpert™. This software suite includes connection to ATP’s database of private fares, a fully integrated and instant chat room tool allowing travel agents to communicate within a booking and a unique graphics interface specifically designed for ATP. ATP user groups are testing the application and Triton expects full validation and acceptance by August 21st.
The ATP contract is transaction based and has a monthly revenue floor of $360,000 beginning in September of this year. When fully integrated and marketed by ATP to their existing and new agencies over the next nine months, Triton estimates that this contract will generate approximately $12 million in recurring annual revenues.
“Triton foresees a substantial revenue and expansion opportunity with The Advanced Travel Partner, a European travel agency with estimated 2007 travel bookings $900,000,000 (USD). Currently, ATP’s 15,000 travel agents rely on an inefficient and outdated software platform—“ATP Tell Me”, which is more than a decade old—to process their business. ATP and Triton have been collaborating for months and over the near term ATP intends to convert its entire point of sales system to Triton’s technology platform.
“We are proud and extremely excited with the ATP collaboration and the effort our development team gave in creating this unique travel industry tool,” said Gregory Lykiardopoulos, Chairman and CEO for Triton. And, according to Dennis van Wijk, C.T.O. for ATP, “we have been working closely with the Triton engineering team over the past months to ensure that our agencies have the best web-based booking tool possible,” “I’m very happy to report that ReservationExpert has met our stringent requirements and my whole team is looking forward to using a true point-and-click, web-based tool of this caliber.”
A top priority for Triton has been to fulfill the ATP contract and we have devoted significant human and technical resources to developing this platform; we consider it to be our core future product which can be readily adapted to the specific needs of other large travel industry vendors and agencies. Triton looks to leverage this new Gen.2 platform into other prominent enterprises, predominantly in the United States, Europe and the Far East, seeking to streamline and automate their bookings.”
About ATP International
Advanced Travel Partner (www.atpi.com) is one of the leading international travel management companies, with offices in the United Kingdom, The Netherlands, Belgium, France, Norway and the United States. ATP specializes in serving the business travel needs of corporate clients in various industries. Next to business travel, ATP has its dedicated units for, business related, group and incentive travel and travel and hospitality regarding sports events. Besides that, ATP is recognized as a specialist in organizing (inter)national congresses, meetings and business events. In the leisure domain of e-commerce, ATP exploits various airline ticket and leisure travel websites. ATP has been highly technology oriented for many years and with a combined turnover exceeding €500 million, allows ATP to leverage its substantial buying power on behalf of national and international clients.
About Triton Distribution Systems
Triton Distribution Systems is a pioneer in low-cost, business-to-business, Internet-based travel distribution and procurement solutions. Triton provides the electronic distribution of travel inventory from airlines, car rental companies, hotels, tour and cruise operators, and other travel vendors to travel agencies and their clients on a global basis. Triton's proprietary products and services fill crucial needs in the travel industry, and offer product, pricing, and marketing advantages. Triton has developed a broad-based suite of products, including ReservationExpert™, TritonTwist™ and Red Dragon Express™ -- the world’s first distribution gateway to the Chinese market.
FORWARD-LOOKING STATEMENTS This news release includes forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. While these statements are made to convey to the public the company's progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. Whereas management believes such representations to be true and accurate based on information and data available to the company at this time, actual results may differ materially from those described. The company's operations and business prospects are always subject to risk and uncertainties. Important factors that may cause actual results to differ are set forth in the company's periodic filings with the U.S. Securities and Exchange Commission.
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