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USXP - Universal Express Requests Hearing With SEC in Florida

/FROM PR NEWSWIRE MIAMI 305-461-8666/
TO BUSINESS EDITOR:

Universal Express Requests Hearing With SEC in Florida

NEW YORK, March 24 /PRNewswire-FirstCall/ -- Universal Express, Inc.
(OTC Bulletin Board: USXP), today requested that the long-sought hearing and
lawsuit with the agency empowered to protect thousands of companies from naked
short-selling, stand before a Florida judge.
"I welcome the hearing that is long overdue. Ever since USXP received
$590,000,000 of 'short-selling' judgments that demonstrated inefficiency on
the part of the SEC, they have retaliated against our Company, which has grown
to over $200,000,000 in sales from no revenues and $54,000,000 in debt paid-
off," stated, Richard A. Altomare, President & CEO of Universal Express.
Mr. Altomare continued, "At a time when America is prioritizing jobs, this
fine Company has grown to over 6,500 employees from only 3 -- and that's the
Company our appointed regulators have decided to question. This one they will
lose. They owe the stockholders of USXP $590,000,000 -- they know it, and a
jury trial will prove it.
"There has been nothing but integrity and hard-working American efforts
with complete compliance on the part of this Company during our 14 years of
development, with never a question from the SEC for 14 years.
"As Al Capone infiltrated the Chicago Police Department, I contend that
the organized crime efforts of naked short sellers are not above influencing
SEC lower-paid employees. Should Universal Express experience any financial
damages from bureaucrats gone awry, our proactive lawsuit, which we filed on
March 2, will seek additional damages.
"If the SEC wishes to intimidate, eliminate or frighten companies that are
the core of America's future capitalist system, they picked the wrong company,
wrong CEO and wrong issue to think we'll blink.
"Let's stay focused on the message of our President and the Democratic
nominee, jobs, corporate governance and integrity. This lawsuit is designed
to shed light on the integrity of the foxes that have been empowered to guard
the hen house. Not the hens being bullied by the foxes!
"When someone or some company is sued by the Security Exchange Commission,
there is always a concern, I understand that. I grew up in the same America
that believes in the integrity of our institutions. After years of SEC
governmental abuse, we called for the judicial branch of our government to
protect our 38,000 shareholders, our employees, investors and all other small
public businesses from the naked short-selling scandal that remains the issue
-- not some press releases and fundings that are perfectly accurate,"
concluded Mr. Altomare.

About Universal Express
Universal Express, Inc. owns and operates several subsidiaries including
Universal Express Capital Corp. (USXP Cash Express & Leasing Division),
Universal Express Logistics (Luggage Express and the Virtual Bellhop, the
Universal Post Network -- private postal network, and SCI, our industry
insurance company. These subsidiaries and divisions provide the private postal
industry, customers, and couriers with value-added services and products,
logistical services, equipment leasing, and cost-effective delivery of goods
and luggage worldwide. For more information visit 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, products and services, delays in testing and evaluation of
products and services, and other risks detailed from time to time in the
Company's filings with the Securities and Exchange Commission.

SOURCE Universal Express, Inc.

/CONTACT: Glen Calder, TransMedia Group, [phone], ext. 16, for
Universal Express/

/Web site: http://www.usxp.com /

Mar-24-2004 19:51 GMT
Symbols:
US;USXP
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