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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