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UPDA Newz:
Rochester, NY, Oct 11, 2005 (M2 PRESSWIRE via COMTEX) -- OTCStockExchange.com's "Stock Watch Alert" this morning are Universal Property Development and Acquisition Corporation (OTCBB: UPDA), Victor Industries (OTCBB: VICI), Cargo Connection Logistics Holding, Inc. (OTCBB: CRGO), Veltex Corporation (Pink Sheets: VLXC).
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Universal Property Development and Acquisition Corporation (OTCBB: UPDA - http://finance.yahoo.com/q?s=UPDA.OB )

Universal Property Development and Acquisition Corporation has executed a Memorandum of Understanding with Dark Horse Exploration, Inc. (DHE), a Wyoming corporation, Masaood Group, Ltd. and Rene Kronvold (Masaood) for the development and production of a natural gas and oil field consisting of 4,000 acres in Northern Utah.

UPDA will own Sixty percent (60%) of the joint venture, DHE will own Thirty percent (30%) and Masaood will own Ten percent (10%).

Pursuant to the MOU, DHE will operate the field which presently has five (5) wells and which will be expanded to eighty (80) wells. Masaood has agreed to invest One Million Dollars ($1,000,000.00) and has provided initial funding of One Hundred Fifty Thousand Dollars ($150,000.00) for the revitalization of the existing wells. UPDA has agreed to re-invest its portion of the initial profits, up to One Million Dollars ($1,000,000.00), for the drilling of additional wells.

DHE will conduct all drilling on the property utilizing its own equipment. This will reduce the cost of drilling from an estimated One Million Dollars ($1,000,000.00) per well to Four Hundred Fifty Thousand Dollars ($450,000.00) per well.

"We expect to drill one well per week, as soon as we get the permits," said Byron "Woody" Woodward, President of DHE, "and based on the results from the first well we worked on, the acidization and work over of the existing wells should increase their production exponentially. This field will produce large amounts of oil and natural gas."

Victor Industries (OTCBB: VICI - http://finance.yahoo.com/q?s=VICI.OB )

Victor Industries has entered into merger negotiations with broadband solution provider Zhejiang Fibersense Communications Technology Co. Ltd. (FSP China). Executives have found significant mutual benefits to explore the potential merger of the two companies. To that end, negotiations expected to come to fruition early in the New Year have begun.

''FSP's potential share of the wireless/broadband market is staggering. They have access to a market arguably larger than all U.S. broadband solution providers combined. FSP's management is seasoned and ambitious, and have a clear vision of today and tomorrow's communication landscape. We are proud to play any part we can in their future,'' said Lana Pope, CEO Victor Industries Inc.

Cargo Connection Logistics Holding, Inc. (OTCBB: CRGO - http://finance.yahoo.com/q?s=CRGO.OB )

Cargo Connection Logistics Holding, Inc., today announced that a major international airline has named its wholly owned subsidiary, Cargo Connection Logistics Corp., as a primary provider at JFK International Airport.

According to Cargo Connection's President, Jesse Dobrinsky, this means that Cargo Connection will be responsible for a majority of the inbound international freight arriving at JFK destined for this airline's domestic inland destinations. Dobrinsky said that because of a corporate policy of the airline, one of the world's fifth largest, which states that only the airline can issue specific press releases about the company, Cargo is not releasing the name of the carrier at this time.

According to Dobrinsky, based on projections and the resources currently available to the Company, this agreement should yield a minimum of $300,000 in additional revenues annually. With additional resources placed at the Company's disposal, that figure could double.

"This is a great opportunity for our company that represents significant new business for Cargo Connection with one of the world's major airlines," said Dobrinsky. "In addition, each time we pick up business of this nature it exposes Cargo Connection Logistics Corp. to a new group of customers."

Cargo Connection Logistics Holding, Inc. consists of Cargo Connection Logistics Corp. and Mid-Coast Management, Inc., which are both headquartered in Inwood, NY. The Company also has offices in Atlanta, Charlotte, Chicago, Columbus, Miami, New York and Pittsburgh. The companies provide a comprehensive variety of transportation and warehouse capacity services to shippers throughout the nation. Currently the two companies have a total of 90 employees.

Veltex Corporation (Pink Sheets: VLXC - http://finance.yahoo.com/q?s=VLXC.PK )

Veltex Corporation reported (unaudited) revenue of $16,740,888 for the third quarter of 2005 and net pre-tax income of $3,318,177. First half revenue is restated at $25,956,800 and includes $7,795,800 from Velvet Textile Mills that was omitted from the previous press release solely based on the fact that those figures had not yet been finalized at the time of publication. Net income from the Mill for the same period was $1,637,118. Revenue for the first three quarters of 2005 is $42,697,688 and income is $6,311,295.

Javeed Matin, CEO of Veltex Corporation stated: "We are excited with our progress in expanding our business and our continued strong revenue stream. Our tradeshow attendance is paying dividends as distributors are coming on-board in ever increasing numbers. Veltex-Explorer is fully integrated and making significant contributions to our bottom line and our licensing agreements are proving fruitful. We feel certain that we will meet our revenue goal of $60 million for 2005 with a net income of between $9 and $10 million. As we look forward to annual increases in revenue and net income, we obviously feel that our stock is considerably undervalued. We are confident that our efforts will remedy this situation in due course."

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