Treasury International Reports Results on Form 10QSB

LIBBY, Mont., Jan 26, 2004 -- Treasury International, Inc. (BULLETIN BOARD: TRUY) (Treasury) announces the results from operations for its fiscal quarter ending October 31, 2003. Treasury's complete Form 10QSB may be obtained from the EDGAR portion of the Securities and Exchange Commissions website at http://www.sec.gov/ .

Revenue for the three months ended October 31, 2003 was approximately $280,928 as compared to $259,758 for the three months ended October 31, 2002. The revenue increase was attributable mainly to the revenues generated from one of the wholly owned subsidiaries, Raceaway Hospitality Inc. General and administrative expenses for the three month period ended October 31, 2003, are $385,908 as compared to $421,386 for the three months ended October 31, 2002, a decrease due to the decrease in general and administrative costs of employees and office administrative expenses, professional fees, accounting costs, interest expenses, commissions, and development costs.

Gross Profit for the three months ended October 31, 2002 was $141,521 as compared to the Gross Profit for the period ended October 31, 2003 of $74,124. This decrease is attributed to the sale of two subsidiaries, more fully described in note 5 of the financial statements filed on Form 10QSB. The Company's interest expense for the three month period ended October 31, 2003 are $5,611 compared to $54,290 for the three months ended October 31, 2002. This is due to a significant decrease in notes payable.

As a result of the foregoing and other factors, the Company recorded a loss of $167,281 or $0.03 per share for the three months ended October 31, 2003, as compared to a loss of $389,855 or $0.07 per share for the three months ended October 31, 2002. The Company's chief source of financing activities continues to be the issuance and sale of common shares which, including non-cash financing activities, amounted to $391,713 at October 31, 2003 compared to $1,259,756 at October 31, 2002 a decrease of $868,043. The net increase in the weighted average number of common shares outstanding quarter over quarter was 1,169,384. The net increase in Shareholder's Equity during the same period was $1,239,407 or $1.06 per share.

The Company believes, based on its currently proposed plans and assumptions relating to its existing assets, that its projected cash flows from operations, combined with borrowings and/or the sale of common stock or assets, and the accounts receivable within inner company subsidiaries will be sufficient to meet its operating and financing requirements through the next reporting period. However, depending on the actual results of operations, the Company may seek to raise additional debt or equity capital through public or private financings, or seek project-specific financings.

See Treasury's website at http://www.treasuryinternational.us/ for more complete information on the Company and its operating subsidiaries.

Safe Harbor

Certain statements contained herein may be forward-looking in nature and are therefore subject to risks and uncertainties that could cause actual results to differ materially. The Company's recent acquisition history, progress toward completing the integration of its acquisitions, history of operating losses, current expense levels compared with its sales, and the state of development of its product portfolio, coupled with the overall economic and competitive operating environments pose a number of risks investors should take into consideration in connection with assessing our financial and operating results. A more detailed discussion of these and other important risk factors can be found in the documents filed with the Securities and Exchange Commission on forms 10-KSB and 10-QSB.