SOURCE: Universal Express, Inc.

August 14, 2007 14:18 ET

Universal Express Announces Grandfather Clause Removal

NEW YORK, NY--(Marketwire - August 14, 2007) - Universal Express, Inc. (OTCBB: USXP) announced today that through the efforts of many concerned public companies and investors, the long awaited removal of the hastily created and illegally announced REG SHO "Grandfather Clause" has today been officially posted in the Federal Register for removal. http://a257.g.akamaitech.net/7/257/2422/01jan20071800/edocket.access.gpo.gov/2007/E7-15708.htm

"Although the SEC was prevented by public pressure from continuing its illegal exemption intended to forgive decades of counterfeit public company stock trading, we men of integrity are elated at this return to an equitable trading system with vigorous enforcement," said Richard Altomare, Chairman and CEO of Universal Express, Inc.

"On October 15th, all 'naked short' positions in public companies must be covered. If the SEC intends to enforce this action those companies' stock valuation should improve and return to normal levels," continued Mr. Altomare.

"Let's now see if the SEC acts to enforce this new rule, and inform our elected officials if this law is not enforced. This will hopefully satisfy our long awaited desire for those who were empowered to regulate fairly, to finally do so, and to regulate actual certificates and not counterfeit ones," concluded Mr. Altomare.

About Universal Express

Universal Express, Inc. is a 23-year-old logistics and transportation conglomerate with multiple developing subsidiaries and services. For additional information please visit www.usxp.com

Safe Harbor Statement under the Private securities Litigation Reform Act of 1995: The statements contained herein, which are not historical, are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements including, but not limited to, certain delays beyond the Company's control with respect to market acceptance of new technologies, products and services, delays in testing and evaluation of products and services, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.

Contact Information

  • Contact:

    Mark Falk
    Universal Express, Inc.
    561-367-6177
    Email Contact