Universal Express' -- USXP -- WorldPost Division Expansion
NEW YORK--(BUSINESS WIRE)--Jan. 24, 2001--Universal Express, Inc. (OTC:USXP). After the sale of Skynet Miami for $3.0 Million Dollars in cash, services and franchise territory valuations, USXP has today announced the further development of WorldPost/Skynet and its territory objectives.
"In the next 72 hours, we will formally announce the President of WorldPost and its territory sales objectives," said Richard A. Altomare, President and CEO of Universal Express.
"Until then, we have priced the first 2,000 territories at an average of $80,000 for each location. Training will be done in Miami, Florida and the potential market opportunities co-exist very nicely with the territories presently occupied by our 7,500 private postal store members (PBC)," continued Mr. Altomare.
"Our sale of Skynet eliminated over $2,500,000 in liabilities from USXP's balance sheet but the potential territory and royalty income of this International shipping network as it penetrates into North America has enhanced USXP's potential net income and value for the coming years. In addition, the cross over values between our two subsidiaries, PBC and WorldPost, offers many more perceived opportunities than existed before. The shipping services provided by the WorldPost members will provide increased revenues for those members and, also, increased revenues for the PBC postal stores," concluded Mr. Altomare.
Universal Express, Inc. (USPX) owns and operates several subsidiaries in the logistics and shipping business including the Private Postal Network.com (PPN), which provides logistical services and cost-effective delivery of goods for postal stores worldwide. USXP's other subsidiaries are engaged in entertainment, (Manhattan Concierge) and additional support services, WorldPost Network.com and the Postal Business Center Network (PBC Network.com). Visit Universal Express and its subsidiaries on the web at 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.
CONTACT:
Universal Express, Inc.
Pat Morrison, 604/649-1385 (Investor Relations) |
