SOURCE: Ulysses Diversified Holdings Corporation

September 10, 2008 08:56 ET

Ulysses Diversified Holdings Corporation Will Buy Back Immediately on the Open Market 3 Million of Its Common Shares

JACKSONVILLE, NY--(Marketwire - September 10, 2008) - Ulysses Diversified Holdings Corporation (PINKSHEETS: UDHC) said Wednesday that it will start buying back 3 million of its common shares on the open market immediately.

This announcement is separate from the company's CEO Mr. Young's announced acquisition of shares yesterday; his proclamation is a personal matter and does not reflect the company's actions. The company would however like to address the fact that any share's Mr. Young acquires on the open market is subject to a restrictive status as he is an officer of the company.

"The company is taking this action as an indication of its commitment to its shareholders; the company believes that its share price is non reflective of the company's true value, and as such the company has made the decision to acquire these shares and may in the future acquire the entire balance of its outstanding common shares, thus taking the company private," said James Ingram Company Spokesman.

This press release does not constitute an offer of any securities for sale. This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ, including, without limitation, the company's limited operating history and history of losses, the inability to successfully obtain further funding, the inability to raise capital on terms acceptable to the company, the inability to compete effectively in the marketplace, the inability to complete the proposed acquisition and such other risks that could cause the actual results to differ materially from those contained in the company's projections or forward-looking statements. All forward-looking statements in this press release are based on information available to the company as of the date hereof, and the company undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.

Contact Information

  • Contact:
    Ulysses Diversified Holdings Corp.
    Investor Relations
    Tel: 1-607-387-7353