SOURCE: Universal Capital Management

Universal Capital Management

September 23, 2009 06:00 ET

Universal Capital Management Announces Stephen J. Laukaitis, Retired U.S. Navy Captain, to Join Board of Directors

WILMINGTON, DE--(Marketwire - September 23, 2009) - Universal Capital Management, Inc. (OTCBB: UCMT), a Wilmington, Delaware business development company that provides management and strategic growth resources to emerging growth companies, is pleased to announce the addition of Stephen Laukaitis, Lockheed Martin Corporation's Enterprise Integration Group, to the Universal Capital Management Board of Directors.

Mr. Laukaitis is a combat veteran and former Naval Aviator who previously commanded a carrier air wing and an FA-18 squadron. He has extensive experience in leading complex projects and medium to large-scale operations. Prior to joining Lockheed Martin, he served as the Chief of Staff to the Commander of Naval Air Forces where he maintained oversight of an enterprise comprised of more than 124,000 people and over 2800 fixed and rotary-wing aircraft, with an annual budget of over $5.8 billion.

Mr. Laukaitis has a proven history of overlaying appropriate risk management controls on organizations performing below desired standards and leading their recovery. He has overseen studies for the Navy that afforded the opportunity to increase workforce productivity, reduce costs, and optimize operational and logistics performance.

Mr. Laukaitis' responsibilities with Lockheed Martin align with Universal's directives of providing managerial assistance to emerging growth companies. His position allows him to expand and grow new business and provide rapid and innovative solutions to customer challenges.

The board appointment comes at a time when Universal is developing a strong portfolio of diverse holdings which will potentially increase stock performance. "The main purpose of the UCMT Board of Directors is to provide management advice about the direction the company should follow," says Robert Oberosler, President and Chief Operations Officer. "Mr. Laukaitis' credentials will be an asset to the decision making process."

About Universal Capital Management, Inc.

Universal Capital Management, Inc. is a publicly traded business development company under the Investment Act of 1940. Its purpose is to provide an opportunity for its shareholders to diversify risk by investing in a fund that assists its portfolio companies to grow and increase in value. Please refer to the company's website at http://www.unicapman.com.

Forward-Looking Statements:

Certain matters discussed in this press release are "forward-looking statements." These forward-looking statements can generally be identified as such because the context of the statement will include words, such as Universal Capital Management, Inc. "expects," "should," "believes," "anticipates" or words of similar import. Similarly, statements that describe UCM's future plans, objectives or goals are also forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties, including the financial performance of UCM and the valuation of UCM's investment portfolio, which could cause actual results to differ materially from those currently anticipated. Although UCM believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, they cannot give any assurance that their expectations will be attained. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating any forward-looking statements. Certain factors could cause results and conditions to differ materially from those projected in these forward-looking statements. New factors, risks and uncertainties may emerge from time to time that may affect the forward-looking statements made herein. These forward-looking statements are only made as of the date of this press release and UCM does not undertake any obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.

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