NEW YORK, Oct 28, 2004 (BUSINESS WIRE) -- Universal Express Inc. ( USXP ), today sold 75% of Universal Express Capital Corp. its former subsidiary, to Capitalliance, a $350,000,000 insurance and funding operation. USXP will retain 10% of the shares of the new Company and 15% of the shares of the Company will be distributed to USXP shareholders.

After the new Universal Express Capital is approved as a public entity, shareholders of USXP will be notified of the distributions of shares to them.

In addition, the new Universal Express Capital run by Capitalliance will now serve as a lead funding source for future USXP acquisitions and investments.

"Most importantly, USXP will receive a preferred lending rate and Capitalliance is initially capitalizing Universal Express Capital with $22,500,000 of assets. Capitalliance receives and develops an active trading company, USXP receives a funding partner and 10% of a $22,500,000 capitalized company with bonding relationships worldwide. Our shareholders will receive stock distributions of Universal Express Capital and, in addition we have received from Capitalliance a funding lead commitment of $22,000,000 for Alpine Airlines financing and $225,000,000 for our Equipment Trust Certificates Program," said Richard A. Altomare, Chairman & CEO of Universal Express.

About Universal Express

Universal Express, Inc. owns and operates several subsidiaries including Universal Express Capital Corp., (including its USXP Cash Express division) Universal Express Logistics, Inc. (including Virtual Bellhop, LLC and Luggage Express), and the UniversalPost Network. These subsidiaries and divisions provide the private postal industry and consumers with value-added services and products, logistical services, equipment leasing, and cost-effective delivery of goods worldwide.

Safe Harbor Statement under the Private securities Litigation Reform Act of 1995: The statements contained herein, which are not historical, are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements including, but not limited to, certain delays beyond the Company's control with respect to market acceptance of new technologies, products and services, delays in testing and evaluation of products and services, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.

SOURCE: Universal Express, Inc.

TransMedia Group
Glen Calder, 561-750-9800

This one is a hold for me though.
Got in raelly cheap.

quote:

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Originally posted by salemm:
I was in this one for a looooong time... until recently(my bad!)... anyway... I'm really surprised that it's not climbing more. I originally bought it for more than it's trading now... and at that point, the general consensus was that it was ALL SCAM!... that PR claims were pure lies.
Anyway... today confirms much of what the company has been claiming... and supports the likelihood that company really will buy more airlines and is following a plan.
Should be climbing more imo.
Anyhoo... just my 2 cents worth.
salemm.

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I'm pretty sure those scam rumours originated over on RB which doesn't surprise me. Most stuff said over there is garbage... So far everything is going status quo for USXP.

-They purchased Apline (Huge run on news)

-They filed paperwork for Alpine deal

-Aquired financing 250mil which will help with other airline purchases as promised in PR's and reduce the likelyhood of dilution of shares

-Luggage program and Walmart card programs are up and runninig as promised

Scam? So far all evidence points to "No Scam". PPs should climb slow and steady over time which is nice and healthy. Will have to watch closely though, remember, this is a penny stock a lot can happen.