22 February 2006, 2:18pm ET
NEW YORK--(BUSINESS WIRE)--Feb. 22, 2006--Universal Express Inc. (OTCBB:USXP), has today signed a new investment and advisory contract with Navstar for the creation of a joint venture and a new Mideastern publicly traded company utilizing Luggage Express services throughout the Gulf and surrounding countries.
"This unique partnership in the Middle East involves multiple influential leaders and supporters in the region," said Richard Altomare, CEO and Chairman of Universal Express, Inc.
"Today we have signed a 40,000,000 USD guarantee with an expected 200,000,000 USD initial investment into our joint venture company," continued Mr. Altomare.
Mentioned Last Change USXP 0.008 0.001dollars or (14.28%) "Based on my initial Dubai meetings and the caliber of our partners it appears that this joint venture, the available funds and these celebrated partnerships, which will be further presented when appropriate, will create much more news in the future months," concluded Richard Altomare.
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