Universal Express Receives Letter of Intent for $460,000,000
NEW YORK, Jul 10, 2002 (BUSINESS WIRE) -- Universal Express, Inc. (OTC BB: USXP chart, msgs) announced today, in addition to its previously announced $100,000,000 in venture funding commitments, that it has received a letter of intent from a funding institution for $460,000,000 to effectuate targeted acquisitions and to continue growing its corporate infrastructure.
"To continue with our corporate objective and to empower our logistical plans, it's gratifying to know that targeted acquisitions are now closer to our growing reach and that brand recognition, delivery capability and ultimately our stock valuation and proper trading exchange are approaching our corporate visions," said Richard A. Altomare, President and CEO of USXP.
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 website locations 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 described 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 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.
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Mr. Ron Garner, 877/788-1940 |
