NEW YORK, March 16, 2004 (PRIMEZONE) -- Universal Express, Inc. (OTCBB:USXP) has entered a five-year exclusive gift card distributor agreement with InComm, Inc., a national leader in point of sale activation (POSA) processing, for placement of Universal Express' international floral association gift card within InComm's 22,000 merchant partner retail stores in North America. The $50 floral gift cards will be launched by April 1st 2004, and InComm has agreed to an initial placement of 500,000 cards to its Merchant Partners with a retail value of $25 million. This agreement also allows Universal Express to distribute InComm's numerous POSA products through its own distribution network.
Richard Altomare, president and chief executive officer of Universal Express, Inc., stated, "We are pleased to join the InComm network, which represents 65 percent of all POSA Transactions. This initial placement of 500,000 gift cards marks an important step. There are an additional 20,000 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, Inc.
About InComm
As a pioneer of the "Pay As You Go" market, InComm has developed a comprehensive line of prepaid solutions that provide consumers with the flexibility they want at a price they can afford. Their extensive catalog of prepaid products and solutions are designed to take clients' retail business to the next level, enabling these merchants to increase sales, enhance customer loyalty and maximize their success. Their Merchant Partners include Wal-Mart (NYSE:WMT), Safeway (NYSE:SWY), Kroger (NYSE:KR), ExxonMobile (NYSE:XOM), Duane Reade (NYSE:DRD) and Speedway. For more information visit: 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.