Universal Express - USXP - to Postpone Holding Company Name Change
NEW YORK--(BUSINESS WIRE)--Aug. 28, 2001--Universal Express, Inc.'s (OTC BB:USXP - news) today announced
that management, its investment bankers and PR advisors would further study and postpone a formal holding company
change of name at this time.
``The name Universal Express and our symbol ''USXP`` have obtained unheard of recognition due to its $389 million
judgment, strategic alliances, acquisitions and high profile advertising such as its recent NASCAR Car #15 American Le
Mans sponsorship,'' said Chris Gunderson, General Counsel.
``Our management's desire to more carefully study any holding company name change reflects positively on what has been
happening to our Company. I have advised counsel to retain and trademark ownership of our proposed name, but to curtail, at
this time, any formal name or regulatory stock symbol changes. As we finalize prestigious PR agreements and substantial
Investment House arrangements, let's involve our professionals in this all-important decision only after all the facts are in.
We're understandably in a hurry to develop our Company, but not in too much of a hurry to be anything other than Universal
Express to the World. This hard fought symbol USXP, our registered trademarks, and our desire to protect our extensive
good will associated with the street name Universal Express and our highly traded stock symbol USXP should not be
compromised at this time by any legal holding company project'' said Richard A. Altomare, President of USXP.
``We are preparing contracts with a very large and prestigious New York based public relations firm and will wish to involve
them in the name change study at an appropriate time frame. A holding company will obviously be needed in the near future,
but let's simply not rush into a formal name change because of the exciting times occurring for USXP and its family of
companies,'' Mr. Altomare further stated.
Universal (USXP) operates several other subsidiaries in logistics (Luggage Express(TM)) and International shipping
(WorldPost). Its association of private postal stores (PBC) provides various support services and numerous other programs
to its members. |
