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To: Jon Scott who wrote (1388)	3/25/1999 11:13:00 AM
From: wlcnyc	Read Replies (2) \| Respond to of 2347

"Universal Express (OTC BB-USXP) has extended for cash the acquisition agreement for SkyNet Miami, Inc., which was previously announced last year under a definitive purchase agreement. Huh? biz.yahoo.com Thursday March 25, 10:33 am Eastern Time Company Press Release Universal Express Extends SkyNet Miami Acquisition PLAINVIEW, N.Y.--(BUSINESS WIRE)--March 25, 1999--Universal Express (OTC BB-USXP) has extended for cash the acquisition agreement for SkyNet Miami, Inc., which was previously announced last year under a definitive purchase agreement. The agreement provides territorial rights to USXP for North and South America, as well as selected trademark designs. Currently, Universal Express's 7000+ APAC stores are doing annualized sales of approximately $2.5 billion, with about $300 million of those revenues in International Shipping. Mr. Nick DeLeone, President of USXP's APAC (Association of Packagers and Carriers) division stated, ''Our private postal stores have never had their own International Shipping service. Now, with the addition of SkyNet Miami, APAC members can receive the greatest discount through our own provider. Our discount rates should help generate noticeable market share penetration, which will help to increase revenues significantly for our APAC member stores as well as our parent Company, Universal Express. This acquisition will further assure our position as a serious contender in the vast postal and shipping industry as we head into the 21st century!'' Mr. Richard Altomare, President and CEO of USXP, commented, ''The SkyNet Miami acquisition, when completed, will greatly enhance our dominance in the private postal and business service center industry. This industry generates over $10 billion in annualized sales and consists of more than 15,000 independent operators. APAC is unifying, organizing, and strengthening these independent and franchised postal stores nationwide and is helping them become much more successful. We are very pleased that this acquisition will be accomplished at a very fair price and without unnecessary dilution to our shareholders.'' Universal Express (OTC BB: USXP - news) owns and operates several subsidiaries in the packaging and shipping business, including the ASSOCIATION OF PACKAGERS AND CARRIERS (APAC). APAC, through their 7000+ member nationwide network, provides business and postal services, which are logistically convenient, and offers cost effective delivery of goods on a worldwide basis. USXP has other subsidiaries engaged in corrugated container manufacturing, advertising, entertainment, and additional support services for APAC. USXP's web site may be visited at usxp.com and their entertainment and ticket broker subsidiary is located at manhattanconcierge.com. To view a recent research report on USXP, go to wallstreetresearch.net /report.html. Investor Relations, call James Stock, President of STOCK ENTERPRISES at (702) 614-0003 Safe Harbor for Forward-Looking Statements: Except for historical information contained herein, the statements in this Press Release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the Company's actual results in the future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, product price volatility, product demand, market competition, risk inherent in the Company's domestic and international operations, imprecision in estimating product reserves and the Company's ability to replace and expand its holdings. -------------------------------------------------------------------------------- Contact: STOCK ENTERPRISES Investor Relations James Stock, President 702/614-0003 -------------------------------------------------------------------------------- More Quotes and News: Universal Express Inc (OTC BB:USXP - news) Related News Categories: computers, paper/forrest, telecom, transportation