NEW YORK, March 16, 2004 (PRIMEZONE) -- Universal Express, Inc. (OTCBB:USXP) has entered a five-year gift card distributor agreement with InComm, Inc., the industry leader in point-of-sale activation (POSA) transactions, for placement of Universal Express' international floral association gift card within InComm's merchant partner retail stores in North America. The $50 floral gift cards will be launched in May 2004 with an initial placement of 500,000 cards to its merchant Partners with a retail value of $25 million. An additional agreement also allows Universal Express to distribute InComm's numerous prepaid products through its own distribution network.
Richard Altomare, president and chief executive officer, stated, "We are pleased to join the InComm Fastcard network, which represents a significant amount of all POSA transactions. This initial placement of 500,000 gift cards marks an important step. There are additional outlets in the InComm retail network including, some of the nation's largest and most recognizable retail chains, which we plan to target as well."
"We are very excited about the agreement with InComm and its enormous distribution channels. Through its merchant partners, InComm will be offering the Universal Cash Express floral gift cards and Send Roses program from a major floral network that we have an agreement with. Our floral gift card programs have an excellent reputation in the marketplace and we are excited to include them in our product offering," commented David Russell, chief operating officer of Universal Express.
Brooks Smith, president and CEO of InComm said, "We are extremely pleased to be partnering with Universal Express and adding a brand name floral gift card to our Gift Card Mall."
About InComm
InComm is a pioneer in POSA technology and is an industry leader in the development, deployment, and distribution of prepaid products and point-of-sale activation (POSA) technology - the Fastcard system. Since 1992, InComm has successfully delivered advanced POSA technology and solutions, cost effective programs, and strong bottom line results to our retail partners. From wireless handsets and airtime, downloadable content, gift cards, financial services and telecommunications products, InComm and our Fastcard POSA technology are unmatched in our ability to deliver a single vendor solution to retailers. InComm has distribution in more than 47,000 locations with major retailers who depend on InComm for the most advanced technology and brand name prepaid products. Headquartered in Atlanta, GA, InComm is a division of InComm Holdings, Inc. For more information visit our web site at: (www.incomm.com).
About Universal Express
Universal Express, Inc. owns and operates several subsidiaries including Universal Express Capital Corp. (USXP Cash Express Division), Universal Express Logistics (Luggage Express and the Virtual Bellhop, LLC), Bags To Go, the WorldPost Network - private postal network, and SCI, our industry insurance company. These subsidiaries and divisions provide the private postal industry, customers, and couriers with value-added services and products, logistical services, equipment leasing, and cost-effective delivery of goods 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.