December 12, 2007 09:02 ET

Ulysses Holding Corp. Clarifies the 20 Million Dollar Line of Credit to Be Used for Additional Retail Optical Outlet Acquisitions

JACKSONVILLE, NY--(Marketwire - December 12, 2007) - Ulysses Holding Corp. (PINKSHEETS: UHCR) previously announced that it had agreed to a 20 Million Dollar line of credit, specifically for the use of acquiring additional retail optical outlets.

The company would like to clarify the terms and conditions of the line of credit. It can only be utilized to acquire new locations that meet the company's and lender's stringent guidelines. It cannot be used for any type of working capital or any other purpose. All new acquisitions will be encumbered with a UCC agreement on all inventory and equipment and mortgages on outlets that would include the purchase of the real estate if that is involved in the acquisition.

This strategy is in line with the company's overall business plan, which is to grow the company with debt financing as opposed to equity (sale of common stock) financing. The amount of the line of credit is due to the fact that certain outlets under negotiations will require the acquisition of the optical business and the buildings (free standing operations) and land.

The company's business plan also calls for ten to fifteen retail outlets within the first twelve months of operations and twenty to thirty additional outlets within the second twelve months of operations with an overall objective of a minimum thirty to thirty five outlets within a twenty four month period.

"The company and the lender/investors have agreed to this amount of credit line so that the company will have a reasonable chance of success. I remain steadfast on no dilution of the company's common shares as this would be counter-productive to our overall business plan which is to have a profitable operation with multiple locations and a share price that will truly reflect the company's value," said Clayton Young President & CEO.

About Ulysses Holding Corp.:

Ulysses Holding Corp. is a start-up retail optical holding company with an aggressive plan towards rapid expansion and revenue growth within the next 12 months. The company will focus only on profitable outlets with average or better industry margins.

The current authorized shares are 12 Million. The 12 Million Authorized Shares consist of 2,000,000 Preferred Shares (restricted for two years in management's control with no conversion options to common) and 10,000,000 Common Shares.

This press release does not constitute an offer of any securities for sale. This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ, including, without limitation, the company's limited operating history and history of losses, the inability to successfully obtain further funding, the inability to raise capital on terms acceptable to the company, the inability to compete effectively in the marketplace, the inability to complete the proposed acquisition and such other risks that could cause the actual results to differ materially from those contained in the company's projections or forward-looking statements. All forward-looking statements in this press release are based on information available to the company as of the date hereof, and the company undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.