Universal Express Issues Memorandum Of Fact And Law In Its Case Against The SEC

NEW YORK--(BUSINESS WIRE)--June 24, 2004--Universal Express, Inc. (OTCBB:USXP), has directly confronted the Security and Exchange Commission in Universal Express' Case against it. The filing was recently made by the Company's prominent Florida litigation counsel, Arthur W. Tifford.

This 28-page ground breaking and historical document http://www.usxp.com/SECmemoinop.pdf verbalizes what smaller public companies and their CEOs have been subjected to by the unconstitutional conduct of unchecked agents of the SEC.

“We urge our shareholders to contact their Congressional Representative and U.S. Senators and demand that a full investigation of the SEC's conflict of interest and its resulting inaction for seven years on this matter”

"There is much more that will be presented regarding the retaliatory, abusive, and illegal actions of numerous conflicted agents of the SEC," stated Richard A. Altomare, Chairman & CEO of Universal Express.

"Our capital system will be better served when the SEC works with and not against CEOs to eliminate the looming, estimated trillion-dollar naked stock short selling settlement crisis and other economic terrorism associated with naked short selling. It's time that the SEC turns its back on the huge economic benefits it derives from the naked short sales transactions, and invest its energies to protect American investors and displaced American workers. Seven years is long enough to wait for forthright and responsive action by the SEC to this terrible, soon-to-be fully exposed scandal."

"Let's see if our Presidential candidates agree that no agency or agent is above the Constitution of the United States," stated Mr. Altomare.

"Universal Express continues to develop its luggage delivery service, its private postal trade association and its capital, credit, and gift card programs during this distraction caused by the agency that owes our shareholders in excess of $900,000,000, as a result of the agency's actions in retaliation against the Company for its public position against naked short selling and the effect of the naked short selling on the Company's publicly traded stock."

"We urge our shareholders to contact their Congressional Representative and U.S. Senators and demand that a full investigation of the SEC's conflict of interest and its resulting inaction for seven years on this matter," concluded Mr. Altomare.

To send a letter to the SEC and your Congressman, go to http://www.usxp.com/lettertocongress.

About Universal Express

Universal Express, Inc. owns and operates several subsidiaries including Universal Express Capital Corp. (USXP Cash Express & Leasing Division), and Universal Express Logistics (Luggage Express and the Virtual Bellhop). These subsidiaries and divisions provide the private postal industry, (Universal Post) customers, and couriers with value-added services and products, logistical services, equipment leasing, and cost-effective delivery of goods and luggage worldwide. For more information 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.