MVPT MVP Holdings Inc (CE)

Dutton Associates initiates coverage of Pro Travel Network (OTCBB:PTVL) with a Speculative Buy rating and a price target of $2.00. The report by Dutton senior analyst Richard West, CFA is available at www.jmdutton.com as well as from First Call, Bloomberg, Zacks, Knobias, Reuters, and other leading financial portals. Pro Travel is conducting a relatively young direct-to-consumer service business that leverages the home-based business concepts with the travel industry. Pro Travel believes they offer one of the most unique and comprehensive independent travel agent training packages in the travel industry. As of February 8, 2007, Pro Travel has approximately 8,000 independent travel agents. Pro Travel�s core business consists of leveraging its technology and services to provide travel stores on the Internet to the home based independent travel agents. Pro Travel currently receives revenue from four sources discussed in the report. The travel industry continues to grow. In 2004 in the United States, approximately $1.3 trillion was spent on travel and tourism. Worldwide, the figure was approximately $7.0 trillion. In recent years the scene has changed with the advent of individuals utilizing the Internet to book travel. Direct travel bookings on the Internet saw approximately 79 million travel bookings made in 2005, up from 64 million in 2004. Company revenues are projected to reach $3.3 million for FY 07 ended June 30th, and increase to $4.1 million in FY 08. EPS are projected to reach $.02 in the current fiscal year, increasing to $,03 in FY08. At our price target of $2.00, Pro Travel would be selling at a $48.0 million market capitalization. About Dutton Associates Dutton Associates is one of the largest independent investment research firms in the U.S. Its 31 senior analysts are primarily CFAs and have expertise in many industries. Dutton Associates provides continuing analyst coverage of over 140 enrolled companies, and its research, estimates, and ratings are carried in all the major databases serving institutions and online investors. The cost of enrollment in our one-year continuing research program is US $39,500 prepaid for 4 Research Reports, typically published quarterly, and requisite Research Notes. Dutton Associates received $39,500 from the Company for 4 Research Reports with coverage commencing on 3/12/2004. We do not accept payment of our fees in company stock. Our principals and analysts are prohibited from owning or trading in securities of covered companies. The views expressed in this research report accurately reflect the analyst's personal views about the subject securities or issuer. Neither the analyst's compensation nor the compensation received by us is in any way related to the specific ratings or views contained in this research report or note. Please read full disclosures and analyst background at www.jmdutton.com before investing.