Singapore-Based Company Reports 5.7% Ownership of Travelstar
Market Wire, July, 2008
Travelstar, Inc. (PINKSHEETS: TVLS), one of the nation's largest and fastest-growing travel networks and leading seller of cruises and vacations, announced today Singapore-based SingXpress, LTD. has filed Form SC13-G with The Securities and Exchange Commission.
On July 3, 2008, SingXpress filed with the Securities and Exchange Commission, representing the holding company had accumulated 2,910,988 shares representing 5.7% of the Company's common stock.
About SingXpress
SingXpress ( www.singxpresstravel.com ) is headquartered in Singapore and operates travel and hospitality service in Singapore, Australia and Asian countries. SingXpress will serve its clients through 80 travel stores in Singapore and 4,920 international stores.
About Travelstar, Inc.
Travelstar, and its family of brands ( www.joystar.com , www.vacationcompare.com , www.travelstar.com , www.starlightvacations.com ), is the one of the nation's largest and fastest-growing leisure travel agency networks and a leading seller of cruises and vacation packages.
"Forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 may be included in this news release. These statements relate to future events or our future financial performance. These statements are only predictions and may differ materially from actual future events or results. Travelstar, Inc. disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. Please refer to the documents filed by Travelstar, Inc. with the Securities and Exchange Commission, which identify important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to risks associated with our ability to (i) increase revenues, (ii) obtain profitability, and (iii) obtain additional financing, changes in general economic and business conditions (including in the online business and financial information industry), actions of our competitors, the extent to which we are able to develop new services and markets for our services, risks in connection with acquisitions, the time and expense involved in such development activities, the level of demand and market acceptance of our services and changes in our business strategies.
Additionally, forward-looking statements concerning the performance of the travel and leisure industry are based on current market conditions and risks, which may change as the result of certain regulatory, political or economic events, a shift in consumer travel preferences, as well as those risks and uncertainties described in the Company's filings with the Securities and Exchange Commission, which could cause actual events or results to differ materially from the events described in the forward-looking statements, whether as a result of new information, future events or otherwise. Readers are cautioned not to place undue reliance on these forward-looking statements.
Contact: Mike Matsie 949.837.8101 Ext. 5253 mmatsie@travelstar.com http://investors.travelstar.com
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