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Universal Express Announces Saudi Arabian Licenses Issued
Tuesday March 22, 12:20 pm ET
NEW YORK--(BUSINESS WIRE)--March 22, 2005--Universal Express Inc. (OTCBB: USXP - News), announced today notification from their Saudi Arabian partners that they had received the necessary Saudi Arabian transportation licenses and are now ready to begin their funding of Universal Express. (http://www.usxp.com/companies/universal/pr/pr.asp?prtitle=Universal+ Express+Announces+Saudi+Arabian+Funding+Partners) (Due to its length, this URL may need to be copied/pasted into your Internet browser's address field. Remove the extra space if one exists.)
"Laws, customs, and regulations Worldwide at times complicate what appear to most Americans to be simple business contracts and decisions," said Mr. Richard A. Altomare, Chairman & CEO of Universal Express.
"I am told by our Saudi Arabian representatives and partners that this license moves commencement of the funding to an imminent status. My challenge is to understand the term 'imminent' in other cultures and to demonstrate the patience and resiliency necessary to maintain long-term relationships and timely communication. I will be returning to the Middle East as soon as that initial wire is received," 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 more 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
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