Wise Investments

[Scrooge McDuck]

USXP PR.........
NEW YORK, Oct 6, 2003 (BUSINESS WIRE) --

Universal Express, Inc. (OTCBB:USXP), Richard Altomare, President and Chief Executive Officer of Universal Express, Inc. (OTCBB: USXP) announced that he has written the leaders of the Senate Banking Committee and the House Financial Services Committee requesting Congressional oversight of certain activities of the Denver office of the Securities and Exchange Commission (SEC).

On September 23, a few hours after Mr. Altomare publicly called upon shareholders to contact their Congressional representatives and ask they stop illegal naked short selling, Mr. Hugh Beck of the SEC Denver office signed and issued a subpoena against the Company. The subpoena declared that USXP 'must produce'within two days, subject to 'fine and/or imprisonment'proof, that the Company's stock price was impacted by naked short selling. USXP responded completely.

Universal Express', Chief Executive Officer Richard Altomare wrote and appealed to Sue Kelley (R-NY), a champion of small business and the newly assigned Chair of the Oversight and Investigations Subcommittee of the House Committee on Financial Services. He also appealed to the Chairman of the Senate Banking Committee, Senator Shelby (R-AL.) and his ranking member Senator Sarbanes (D-MD.) as well as Chairman Oxley (R-OH.) and his ranking member, Congressman Barney Frank (D-MA.) of the House Committee on Financial Services. All were asked to investigate what is going on regarding the subpoena.

Mr. Altomare commented, 'We hope for a hearing. We believe the subpoena is the tip of the iceberg of a misplaced focus on the small emerging businesses that are speaking out against illegal naked short sellers. We need Congress to get involved, gather the facts and encourage the new SEC leadership to focus the regulators on the perpetrators, not the victims. SEC neglect in overlooking the activities of broker dealers and market makers--largely a self-regulated lot--is permitting corrupt naked short selling practices. We need integrity restored. Billions of dollars and thousands of jobs are tied up in the economic terrorism associated with illegal naked short selling.'

Universal Express has described naked short selling as the electronic churning downward of shares of small OTCBB companies by broker dealers and market makers who never intend to or fail to cover short sales. USXP contends that the practice amounts to counterfeiting stock and is distinct from legitimate short selling