UniverCell to Discontinue Operations

UniverCell to Discontinue Operations 


BALTIMORE, Sept. 24  /PRNewswire-FirstCall/ -- UniverCell Holdings, Inc.'s
(OTC:UVCL) (BULLETIN BOARD: UVCL)  subsidiary UniverCell announced that it has
decided to discontinue its rental program, which was its only remaining
operation. Due to recent events including the increase in rates due to the
fluctuation of currencies, its rates have risen to the point where it does not
think it will be able to be profitable in the coming years.  In addition, it
has seen the number of renters decrease dramatically after it did not continue
its marketing efforts with Avis.  Its advertising seems to be less effective
than before due to increased competition and GSM rollout in the United States.

It will no longer be accepting cellular phone rental applications and will
attempt to wind up its existing rental operations in an orderly fashion.  It
will continue service to the phones that are currently rented until they are
returned.  It will continue to bill its customers and attempt to collect any
and all outstanding receivables.

The proceeds of winding up will almost certainly not be sufficient to satisfy
its existing obligations.  It has not yet determined whether to cease all
operations.  Among the possibilities the Company is considering are entering a
related business in the communications area or in an unrelated area.  If it
decides to continue operations additional capital will be required.  It may
also seek merger or reverse merger candidates in related or unrelated fields.

Sean Y. Fulda, Chairman and CEO, stated, "While we were hoping to grow
unhampered after the final maturity of the debentures, other issues such as
increased costs limited our ability to become profitable.  We have chosen to
discontinue operations as they would have likely resulted in continued losses.
We may attempt to open other subsidiaries in related or unrelated fields if we
can obtain the necessary financing.  We may also attempt to do a merger or
reverse merger with a company in a related or unrelated field."

   Contact Info:
   Investor Relations
   UniverCell Holdings, Inc.
   [phone] x8150



Safe Harbor for Forward-Looking Statements: Except for historical information
contained herein, the statements in this release are forward- looking
statements that are made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995.  Forward-Looking statements involve
known and unknown risks and uncertainties, which may cause a company's actual
results in the future periods to differ materially from forecasted results. 
These risks and uncertainties include, among other things, product price
volatility, product demand, market competition, and risk inherent in the
company's operations.  You can identify these statements by the fact that they
do not relate strictly to historical or current facts.  They use words such as
"anticipate," "estimate," "expect," "project," "intend," "plan," "feel,"
"think," "hear," "enable," "will," "guess," "believe" and other words and terms
of similar meaning in connection with any discussion of future operating or
financial performance. 

DATASOURCE: UniverCell Holdings, Inc.



CONTACT:  Investor Relations, UniverCell Holdings, Inc.,

[phone] x8150



Web site:  http://www.rentalcell.com/ 

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