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http://aktien.onvista.de/snapshot.html?ID_OSI=213514
Universal Express Signs Letter of Intent to Purchase Oil & Gas Company
Monday February 27, 10:54 am ET
NEW YORK--(BUSINESS WIRE)--Feb. 27, 2006--Universal Express Inc. (OTCBB: USXP - News), signed a Letter of Intent to purchase a South Florida based fuel and wholesale jobber. This oil and gas turnkey operation services 144 gas stations and directly owns 46 of them.
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In addition, the Company provides diesel distribution and is poised to enter the airline fuel industry.
"With combined revenues today in excess of $180 million and deliveries in excess today of 100,000,000 gallons our strategic partners from Dubai and Saudi Arabia have advised us to consider this timely acquisition for balance sheet enhancement, growth and synergistic interests from its supply source," said Richard Altomare, CEO and Chairman of Universal Express, Inc.
"From a logistical matching to our more obvious Dubai and Saudi Arabian investors as well as potential future airline fuel needs, this acquisition will enhance the flexibility and growth potential of Universal Express and its growing family of companies," continued Mr. Altomare.
"Due to confidentiality agreements, full details of this transaction will be made available after our successful closing," concluded Mr. Altomare.
About Universal Express
Universal Express, Inc. is a 22 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:
Universal Express, Inc.
Mark Falk, 631-588-1644
publicrelations@usxp.com
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