SOURCE: Ulysses Holding Corp.

March 13, 2008 13:43 ET

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

JACKSONVILLE, NY--(Marketwire - March 13, 2008) - 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.

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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