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Strategies & Market Trends : Joe Copia's daytrades/investments and thoughts -- Ignore unavailable to you. Want to Upgrade?

To: TradeSmart who wrote (5965)	6/30/1998 9:39:00 AM
From: Rande Is	Read Replies (1) \| Respond to of 25711

It's official:::REVERSE Split du jour:::PKGP::: Packaging Plus Services Announces Stock Split & Declares Dividend PLAINVIEW, NY--(BUSINESS WIRE)--June 30, 1998--PACKAGING PLUS SERVICES, INC. (OTC BB:PKGP) today announced a reverse stock split of its Class 'A' common shares. The Company will exchange one (1) newly issued share for seventy (70) currently outstanding shares. Effective today, the shares will trade under the Company's new name, UNIVERSAL EXPRESS, INC. and new Symbol: USXP. Further, the Company's Board of Directors is pleased to announce it has declared a Dividend for all stockholders of record as of today. The Dividend will be one (1) 'A' Warrant and one (1) 'B' Warrant for every three ((3) post split shares held. The Warrants will be attached to all newly issued shares. The 'A' Warrants will entitle the holder to purchase one (1) restricted share of USXP @ $6.00 per share for twelve (12) months; the 'B' Warrant will be for one (1) restricted share @ $10 for twenty-four (24) months. Richard A. Altomare, Chairman of the Board, stated: "The Company wishes to sincerely thank our loyal shareholders and we urge all to notify their Securities Firms to request physical delivery of their stock certificates. This is mandatory for all shareholders who wish to receive new certificates of USXP and the applicable Warrant Dividend". Mr. Altomare continued, "Our new identity, new capitalization and recent and planned acquisitions all make for a very exciting future for UNIVERSAL EXPRESS". PACKAGING PLUS SERVICES, INC. (UNIVERSAL EXPRESS) owns and operates several subsidiaries in the packaging and shipping business including THE ASSOCIATION OF PACKAGERS AND CARRIER (APAC), a nationwide association of independent postal/business service centers. The Association provides access to business services and logistically convenient and cost effective delivery of goods worldwide. PKGP's other subsidiaries are engaged in corrugated container manufacturing, advertising and other support services for APAC. CONTACT: Barbara Halpern Tel: 516-349-1300