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To: kbert who wrote (7378)	12/16/1998 12:32:00 PM
From: FARcom	Read Replies (1) \| Respond to of 8835

Do your own dd OF COURSE: (BSNS WIRE) Universal Express Reports 80 Percent Increase in Operating Revenue Universal Express Reports 80 Percent Increase in Operating Revenue PLAINVIEW, N.Y.--(BUSINESS WIRE)--Dec. 16, 1998--Universal Express Inc. (OTC BB:USXP) Wednesday filed with the Securities and Exchange Commission the company's Form 10-KSB for the fiscal year ended June 30, 1998. From selected audited financial data contained in this report, Universal Express reported operating revenues for the year increased to $2,509,000 from $1,398,000 for F/Y 1997, an increase of $1,111,000 or 80%. The majority of the increase was realized by Manhattan Concierge's Ticket Sales revenues, which increased from $1,026,987 in 1997 to $1,706,939 in 1998. Manhattan Concierge is a wholly owned subsidiary of Universal Express. The company reported a net loss of $6,903,990 for F/Y 1998, much of which was categorized as nonrecurring, extraordinary expenses relating to interest expenses arising from convertible debentures, which were paid off in 1998. The total number of common shares issued and outstanding, as of June 30, 1998, were 3,115,081. Stockholders' equity was reported at $912,461 or 29 cents per share. There are no preferred shares or debt securities currently outstanding. Under the report's "Management's Discussion" section, reference is made to "major transitions Universal Express has undergone since 1994." Further, it indicates that "Management is now concentrating on raising new capital to further develop APAC, its multi-faceted national Association of Packaging centers nationwide connected through the World Wide Web, and for future acquisitions in the shipping business, including the pending acquisition of SkyNet Miami." Management had indicated the company's Form 10-QSB, representing operating results for the quarter ended Sept. 30, 1998, will be filed early next week. --30--LES/la* MT/la CONTACT: Stock Enterprises James Stock, 702/521-2999 KEYWORD: NEW YORK INDUSTRY KEYWORD: EARNINGS Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: businesswire.com