Universal Express -- USXP -- To Acquire $20,000,000 Commercial Vehicle Manufacturer United States Coach

    NEW YORK--Oct. 25, 2002--Universal Express, Inc. (OTCBB:USXP) announced today that its subsidiary USXP Capital has executed a letter of intent to purchase United States Coach, one of the nations leading manufacturers of commercial transportation vehicles.
    United States Coach is recognized by Ford and General Motors as qualified fabricators of their products for use in the commercial livery and transportation industry. The company possesses the coveted QVM (Qualified Vehicle Modifier) and CMC (Cadillac Master Coachbuilder) status held by less than 20 firms worldwide. US Coach and its Bohemia NY manufacturing plant is presently recognized by Newsday as one of the TOP 100 privately held companies on Long Island.
    "USXP Capital has developed lease financing programs utilized by manufacturers of limousines, commercial vans, and buses throughout the United States. US Coach has been a recognized icon in this business for the last decade and its principals are acknowledged as industry leaders," stated David Russell, President of USXP Capital. He continues, "The addition of US Coach to the Universal Express family of companies results in multiple benefits to both entities by providing a public vehicle for manufacturing development capital during the recovery of the industry while presenting the footprint to establish a captive finance company under the USXP Capital umbrella."
    "Universal Express is proud of the effort made by both teams to bring this acquisition to the table. US Coach's' national recognition as a premier manufacturer and its' established revenue base, which exceeds $20,000,000 annually, is a welcome addition to the maturing business foundation of Universal Express and its subsidiary USXP Capital," said Richard A. Altomare, President and CEO of Universal Express.
    "The entire staff of United States Coach embraces entering the next era of vehicle manufacturing as a member of the Universal Express team. With the exciting opportunities that lay ahead of us in our industry, the acquisition and its resulting beneficial foundations will permit US Coach to continue its growth and become the nations number one coach and bus manufacturer," concluded John Gore, President of US Coach.
    US Coach products, facilities, and history may be viewed at the company website, www.uscoach.com.

    Universal Express, Inc. owns and operates several subsidiaries including Universal Express Capital, Universal Express Logistics (including Luggage Express and Virtual Bellhop) and the Private Postal Network. These subsidiaries provide the private postal industry and consumers with value-added services and products, logistical services, equipment leasing and cost-effective delivery of goods worldwide.

    More information can be found at 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 described 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 or products in testing and evaluation of products, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.