November 05, 2007 09:04 ET

Ulysses Holding Corp. Names New President and CEO While Outlining Its Business Plan and Strategy Going Forward

JACKSONVILLE, NY--(Marketwire - November 5, 2007) - Ulysses Holding Corp. (PINKSHEETS: UHCR) today announced that it has named Mr. C. Young as President & CEO of the company.

Mr. Young acquired a 100% controlling interest in the company from his predecessor Mr. Fauzie Mohammed in an all-cash transaction. The company will be utilized as a Holding company for the operation of retail optical stores, initially in the Northeastern United States.

The company is currently working on its corporate website and expects to have it up and running by week's end.

The company will acquire retail outlets that are only profitable with proven track records that the owner(s) are looking to retire or seeking an exit strategy. All acquisitions will be with either cash or debt financing. The company is currently negotiating several locations with some under contract already.

"The company has received several calls from shareholders about the possibility of dilution, the answer is a resounding no, as I intend to build this company with the least amount of shares outstanding (current 3,458,525 common shares in the float) as possible," said Mr. Young, President & CEO.

Mr. Young also stated, "The company will be announcing several major events and announcements of importance within the next several weeks."

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 an average or better industry margins.

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.