SOURCE: Universal Communication Systems, Inc.

March 14, 2005 11:15 ET

Terra Networks SA Legal Director Files Declaration in Litigation Case With Universal Communication Systems Inc. et al, in Miami Fl. Federal Court

MIAMI, FL -- (MARKET WIRE) -- March 14, 2005 -- The following is a synopsis of the latest legal proceedings between Universal Communication Systems Inc et al (OTC BB: UCSY), and Terra Networks SA.

The legal director of Terra Networks submitted a Declaration in support of Terra's Motion To Dismiss in which he stated an assertion that Terra was simply a holding company with no operating business, that it did not have any presence in Florida and that it was not engaged in any business within Florida.

COMPANY FILES OPPOSITION IN FEDERAL COURT IN FL.

UCSY has responded to the Terra contentions, specifically, this Declaration, by submission of an "Opposition to the Court", which includes of a series of web pages that are publicly available on the Terra Networks web site. It appears by simple comparison of the statements contained in the foregoing "legal director" Declaration with these web pages, that the Terra Legal director has committed perjury. UCSY is currently evaluating its course of action relative to this most recent development. The alternatives available to UCSY are to request sanctions be imposed against Terra by the Court."

IN UCSY vs LYCOS (2004 CASE), COURT DENIES MOTION TO DISMISS.

In the Universal Communication Systems Inc, Michael Zwebner, et al vs LYCOS INC, (the 2004 case) the Federal Court in Miami denied the Lycos Motion to Dismiss, but ordered the case transferred to Mass, per LYCOS Motion for Transfer. UCSY (the plaintiffs) are contesting this ruling, and asking the court to reconsider its decision based on the court not considering certain evidence and facts related to the corporate interests of UCSY, as a co-plaintiff.

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Safe Harbor:

Caution Concerning Forward-Looking Statements by Universal Communication Systems, Inc. This document includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations or beliefs, and are subject to uncertainty and changes in circumstances. Actual results may vary materially from those expressed or implied by the statements herein due to changes in economic, business, competitive, technological and/or regulatory factors, and factors affecting the integration of the businesses of Universal Communication Systems, Inc. More detailed information about these factors may be found in filings by Universal Communication Systems, Inc. with the Securities and Exchange Commission, including their most recent annual reports on Form 10-KSB and quarterly reports on Form 10-QSB. Universal Communication Systems, Inc. is under no obligation to, and expressly disclaim any such obligation to, update or alter their forward-looking statements, whether as a result of new information, future events, or otherwise.

Contact Information

  • Contact:

    Company: Universal Communication Systems, Inc., Miami Beach
    Rolando Sablon
    305-672-6344
    Email: info@ucsy.com