USXP - Universal Express Purchases $168 Million Sub-Contracting Concepts, Inc.

Business Editors

NEW YORK--(BUSINESS WIRE)--Dec. 1, 2003--Universal Express, Inc.
(OTCBB:USXP) has purchased Sub-Contracting Concepts (SCI),
headquartered in Glens Falls, N.Y.
SCI is a profitable contract-management-services company,
providing risk management and administrative services to over 200
regional couriers companies. SCI's network includes over 5,500
independent courier drivers in 35 states. In 2003, SCI anticipates
$168 million of gross revenue and $650,000 of net income.
Richard Altomare, President and CEO, stated, "The acquisition of
SCI will strengthen our delivery-distribution system, expand our
WorldPost(TM) membership, and provide us a platform to increase
revenue. One of the keys to our Luggage Express business is providing
pick-up and delivery facilities throughout the U.S. This acquisition
offers WorldPost Network immediate access to SCI's existing client
base, which strengthens this vital network. Moreover, this transaction
provides additional products and services for us to sell to our
WorldPost members. Importantly, SCI's management shares our long-term
vision for outsourced shipping, including moving luggage more
efficiently and affordably world-wide."
Bob Lefebvre, President of SCI, stated, "This acquisition offers
enormous opportunities for our courier-company clients to participate
in new sales lines through the growth of the Luggage Express business,
as well as the corresponding package delivery functions that are now
available through WorldPost Private Postal Network. We are also
excited to offer Universal Express' leasing and credit card programs
to our drivers. The fact that Universal Express is dedicated to an
outsourced distribution system complements our client base very well.
We see this as a win-win situation for everyone involved." Mr.
Lefebvre will continue as President of SCI.
Universal Express, Inc. owns and operates several subsidiaries
including Universal Express Capital Corp. (USXP Cash Express
division), Universal Express Logistics, Inc. (Luggage Express and The
Virtual Bellhop, LLC) and the WorldPost(TM) Private Postal Network,
Inc. and, SCI, our industry insurance company. These subsidiaries and
divisions provide the private postal industry, customers and couriers
with value-added services and products, logistical services, equipment
leasing, and cost-effective delivery of goods worldwide.
More information and news about Universal Express are available at www.usxp.com.
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 or products delays in
testing and evaluation of products, and other risks detailed from time
to time in the Company's filings with the Securities and Exchange
Commission.

--30--LR/da*

CONTACT: Equitilink
Ron Garner, 877-788-1940

KEYWORD: NEW YORK FLORIDA
INDUSTRY KEYWORD: INSURANCE TRANSPORTATION MERGERS/ACQ
SOURCE: Universal Express, Inc.

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JC

quote:

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Originally posted by old mullet:
i have a bunch of this too jc. i will keep adding to my position waiting for a move.

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quote:

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Originally posted by Newbie:
Just sit tight! It will be back in the .09-.10 soon. Everyone is just waiting... be patient.

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THIS IS A GOOD STOCK.
JUST NEEDS A LITTLE TIME.

YOU MAY WANT TO HOLD ON.

Universal Express Acquires Commercial Lease Portfolio
Wednesday December 17, 9:10 am ET

NEW YORK--(BUSINESS WIRE)--Dec. 17, 2003--Universal Express, Inc. (OTCBB:USXP.OB - News), has acquired a portfolio of seasoned and performing commercial lease receivables valued in excess of $3 million gross with servicing provided by one of the top 50 banks in the United States. The company's subsidiary, Universal Express Capital Corp., will manage the portfolio.
"With this acquisition, Universal Express has purchased a valuable asset that simultaneously provides revenues and an ongoing wholesale lender relationship with one of the top 50 banks in the United States," said Richard Altomare, chairman and chief executive officer. "We now have in place a foundation for booking transactions with leading national banks. As a result, we will be able to book these transactions in the future as an asset, which will strengthen the balance sheet and improve operating cash flow. In addition, the portfolio gives us access to potential customers for future lease/financing volume."

Universal Express, Inc. owns and operates several subsidiaries including Universal Express Capital, Universal Express Logistics (including VirtualBellhop, WorldPost and Luggage Express) and the Private Postal Network. These subsidiaries provide the private postal industry and consumers with value-added services and products, logistical services, equipment leasing and cost-effective delivery of goods worldwide. More information and Web site locations are available at www.usxp.com.