1/21/2005
Universal Express And Alpine Air Express Announce Assignment of Stock Purchase Agreement
NEW YORK, NY – January 21, 2005 - Universal Express Inc. (OTCBB: USXP), and Stonetree Group, LLLP announced their agreement to assign the rights of Universal Express to the stock purchase agreement for a majority interest in Alpine Air Express, Inc. (OTCBB: ALPE) to Capitalliance Financial Services, LLC.
“Capitalliance is in the process of acquiring 75% of USXP Capital, a division of Universal Express. With USXP’s recently announced acquisition of Universal Jet, coupled with Capitalliance’s commitment to USXP, it just seems prudent to have Capitalliance complete the Alpine Air Express stock transaction,” stated Mr. Mike Baldridge, CEO of Stonetree Group.
Capitalliance Financial Services, LLC with substantial interest in commercial leasing, insurance, reinsurance and structured finance services, views the potential affiliation as a natural compliment to its present expansion policies.
“Since all parties have committed resources to this merger/acquisition, we are very pleased to be a part of this transaction and its future operational contracts. I continue to be committed to a successful transition between Stonetree Group and Capitalliance,” stated Mr. Richard A. Altomare, Chairman & CEO of Universal Express.
About Universal Express
Universal Express, Inc. owns and operates several subsidiaries including Universal Express Capital Corp., (including its USXP Cash Express division) Universal Express Logistics, Inc. (including Virtual Bellhop, LLC and Luggage Express), UniversalPost Network and Universal Jet Aviation. These subsidiaries and divisions provide the private postal industry and consumers with value-added services and products, logistical services, equipment leasing, and cost-effective delivery of goods worldwide.
About Alpine Air
Founded in 1975, Alpine Air, a wholly owned subsidiary of Alpine Air Express Inc., provides competitively priced scheduled air cargo flights throughout the western and southwestern United States. The Company has an established client base that includes various contract operations and the U.S. Postal Service. Alpine Air provides superior "on time" performance and reliability, together with the flexibility to adapt quickly to the growing frequency and capacity requirements of its clients.
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.
For Investor Relations Call:
Equitilink L.L.C.
877-788-1940 toll free
858-824-1940 International or local
Ron Garner
www.equitilinkpr.com
greetz
Jovi
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