JNS Holding Corp (JNSH)

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Ulysses Holding Corp. Releases Its Outside Auditor's Preliminary Recommendations

Last update: 1:43 p.m. EDT March 13, 2008

JACKSONVILLE, NY, Mar 13, 2008 (MARKET WIRE via COMTEX) -- Ulysses Holding Corp. (PINKSHEETS: UHCR) previously announced that it has retained a special outside auditor to review the trading patterns of its securities.

The auditor has recommended after its preliminary review that the company immediately change its CUSIP I.D.; secondly, the company erred by issuing a stock dividend, as this only allowed the increased potential for shorting of its securities.
The auditor also recommended that the company embark on a buyback of 4 million of its common shares on the open market effective immediately.

"Management has accepted the auditor's recommendations and will implement such immediately; we will not tolerate any abuse in the trading of our securities by anyone and will take whatever action necessary to stop any and all abuses," said Clayton Young, President.