SOURCE: Ulysses Holding Corp.

January 29, 2008 00:26 ET

Ulysses Holding Corp. Executive Management and Directors Have Approved a 1 for 1 Stock Dividend to All Common Shareholders

JACKSONVILLE, NY--(Marketwire - January 29, 2008) - Ulysses Holding Corp. (PINKSHEETS: UHCR) today announced that Executive Management and Directors have approved a 1 for 1 Stock Dividend to all Common Shareholders.

Management has decided to take this action based on the advice of its Financial Advisors, as to increase liquidity in the Company's Securities. The 1 for 1 Stock Dividend is for all Common Shareholders only and will not include Management as they do not hold any Common Shares.

The Stock Dividend will be payable to Shareholders of record on February 11, 2008 and will be payable to Shareholders on February 29, 2008.

"I have on the advice of the company's Financial Advisors decided that this action will be in the best interest of the Company and its Shareholders as the Company's Securities have become stagnant due to the fact that we believe the float is too low, after the Dividend the public float will be a very reasonable 8,296,924 thus bringing the company's market cap to a still very undervalued $414,846 from the current market cap of $207,423," said Clayton Young President & CEO.

Mr. Young also added, "The company and its advisors believe that since the very small float after the Dividend will not have any negative impact on its share price."

About Ulysses Holding Corp.:

Ulysses Holding Corp. is a start-up retail optical holding company with an aggressive plan towards rapid expansion and revenue growth within the next 12 months. The company will focus only on profitable outlets or locations with average or better industry revenues/margins.

Current Corporate Share Structure:

2,000,000 Non Convertible Preferred Shares (In Managements Control)

4,148,462 Common Shares Outstanding In the Public Float

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.

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