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Microcap & Penny Stocks : UVTF - Universal Media Holdings, Inc. -- Ignore unavailable to you. Want to Upgrade?

To: E.B. who wrote (8)	2/17/2000 7:48:00 PM
From: E.B.	Read Replies (1) \| Respond to of 14

Universal Media Holdings, Inc. Completes Acquisition Of E-Trans Logistics, Inc. CARLSTADT, N.J., Feb. 16 /PRNewswire/ -- James Zimbler, Co-Chairman and CEO, and Don Palombo, Co-Chairman, of Universal Media Holdings, Inc. (OTC Bulletin Board: UVTF) announced today that Universal has completed the purchase of all the outstanding shares of E-Trans Logistics, Inc. as was agreed to in the Letter of Intent of February 2, 2000. The purchase price was approximately $4,000,000 in the form of shares of the common stock of Universal Media Holdings, Inc. James Neebling, the President of E-Trans Logistics, was appointed President of Universal Media Holdings. Mr. Neebling stated, "I am very excited about the future of Universal and expect that there will be a seamless transition into a prosperous and growing company. My experience with E-Trans Logistics and with Corporate Express will allow me to greatly expand the operations and scope of the Company. I feel that with my background and the management team of E-Trans Logistics, the Company can develop into a full- service E-commerce transportation and logistics provider." E-Trans Logistics, Inc. had revenues of approximately $1.9 million in 1999. Revenues for the current year are averaging out to a yearly run rate of $4.5 million. E-Trans is currently in final negotiations with two other logistics companies that would increase the 2000 revenues to approximately $8 million on an annualized basis. The new corporate offices of Universal Media Holdings, Inc. will be based in E-Trans Logistics' current offices at 10 Industrial Road, Carlstadt, N.J. 07072. For information on E-Trans Logistics, please call James Neebling at 201-804-8500. For further information regarding the purchase, please contact General Counsel for Universal Media Holdings, Inc., Mr. Michael S. Krome, Esq., at 631-863-9898. Statements contained in this press release that are not historical facts are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties that can cause actual results to differ materially from estimated results. Such risks and uncertainties are detailed in the Company's filings with the various Regulatory Authorities having jurisdiction. Smarter PR has been retained to provide public relations services for the above company and as such has received compensation from the Company. This compensation may be in the form of cash or securities and/or stock purchase options. Smarter PR and its officers, directors and employees may from time to time have a position in and purchase and sell the securities mentioned. For further information, contact a Company representative. -------------------------------------------------------------------------------- SOURCE: Universal Media Holdings, Inc. CONTACT: Michael S. Krome, Esq., General Counsel for Universal Media Holdings, Inc., 631-863-9898; or James Neebling of E-Trans Logistics, 201-804-8500