Five and Under

[sd3]

USXP going crazy on news. Thought about buying @.105. Now .138 x .14 Damn.

Universal Express -USXP- Commences Seizure Steps On $389 Million Judgment




Business Editors

NEW YORK--(BUSINESS WIRE)--Aug. 16, 2001--Universal Express,
Inc.'s (OTC:USXP) General Counsel, Chris Gunderson announced today
that the Company's attorneys have located assets of the defendants and
are proceeding with writs of attachment and garnishment.
"These attachments are initial steps in a series of steps which
will be taken toward enforcement efforts on the $389 million
judgment," stated Mr. Gunderson.
"This initial seizure process is only the `tip of the iceberg'.
Counsel and I believe hidden assets exceed $500,000,000. This first
seizure has occurred faster than expected. Actual amounts and items
will be reported when counsel and due process have been completed,"
continued Mr. Gunderson.
Universal (USXP) operates several other subsidiaries in logistics
(Luggage Express(TM)) and International shipping (WorldPost). Its
association of private postal stores (PBC) provides various support
services and numerous other programs to its members.
Visit Universal Express and its subsidiaries on the web at
http://www.usxp.com

Safe Harbor Statement under the Private Securities Litigation Reform
Act of 1995: The statements contained herein which are not historical
are forward-looking statements that are subject to risks and
uncertainties that could cause actual results to differ materially
from those expressed in the forward-looking statements, including, but
not limited to, certain delays beyond the company's control with
respect to market acceptance of new technologies or products, delays
in testing and evaluation of products, and other risks detailed from
time to time in the Company's filings with the Securities and Exchange
Commission.

--30--mw/ny*

CONTACT: Universal Express, Inc.
Chris Gunderson, 917/639-4154

KEYWORD: NEW YORK
INDUSTRY KEYWORD: TRANSPORTATION
SOURCE: Universal Express

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Aug-16-2001 14:32 GMT
Symbols:
US;USXP
Source BW Business Wire
Categories:
MST/R/US/NY MST/I/TRQ