SOURCE: Ulysses Holding Corp.

December 19, 2007 08:59 ET

Ulysses Holding Corp. Today Announced That It Will Create a 100% Wholly Owned Real Estate Holding Subsidiary

JACKSONVILLE, NY--(Marketwire - December 19, 2007) - Ulysses Holding Corp. (PINKSHEETS: UHCR) today announced that it will create a 100% wholly owned Real Estate Holding Subsidiary.

The new subsidiary will be 100% owned by Ulysses Holding Corp. and will be named Ulysses Properties, Inc. The reason for this action is to separate pending acquisitions of optical stores and the real estate that comes with them that could total several million dollars.

Ulysses Properties, Inc. will own and manage the real estate portion of the company while the operations and management of the optical stores will remain under the parent company for the time being until more stores are accumulated. There are several legal and tax reasons for this structuring of the company. All assets will remain under (UHCRs) umbrella company.

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 with average or better industry margins.

The current authorized shares are 12 Million. The 12 Million Authorized Shares consist of 2,000,000 Preferred Shares (restricted for two years in management's control with no conversion options to common) and 10,000,000 Common Shares.

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 statement 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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