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Union Equity, Inc.'s Directors and Officers Intend to Purchase Stock in Open Market

^{Published on 2010-06-29 05:40:39 - Market Wire}
 

ORLANDO, FL--(Marketwire - June 29, 2010) - Union Equity, Inc. (PINKSHEETS: [ UNQT ]) is pleased to announce that the Company's directors and officers intend to purchase up to an additional 150,000,000 shares of common stock from time-to-time over the next thirty (30) days. The purchases may occur in the open market, as permitted by securities laws and other legal requirements.

Union Equity recently announced that its directors and officers intended to purchase up to 100,000,000 shares of common stock in the open market. The Company's officers and directors completed this purchase within the first week after the announcement.

The decision was based upon anticipated events in the short-term future as the Company works towards its goal of maximizing the return for shareholders and expanding its inventory of trucks to meet demands from owner-operators. These purchases will decrease the public float by reducing the number of free-trading shares.

"I am delighted that our directors and officers have confidence in our future and want to increase their ownership. Union Equity is committed to building value for long-term shareholders," stated Steven Woodell, President of Union Equity.

"This is a reflection of our insiders' confidence in both Union Equity's operating performance and potential to generate free cash flow," stated Randy Lance, a director of Union Equity.

About Union Equity, Inc.
Union Equity is a commercial truck leasing business engaged in leasing class eight commercial trucks to owner operators located around the contiguous 48 states. Many owner operators drive on a for hire basis for Fortune 500 companies, while others have their own authority to haul freight throughout the United States. Union Equity's strategy has been to target both groups of owner operators through an aggressive marketing program and complete "one stop shop" solution for the owner operator. Through their unique business model, Union Equity is able to provide owner operators with a leased truck regardless of their credit history. Owner operators need only to have a valid commercial driver's license, acceptable insurance, proof of a shipper's intent to hire, and a willingness to work.

Cautionary Language regarding Forward-Looking Statements: This release includes forward-looking statements including anticipated events, beliefs regarding the effects of the open market purchases and our ability to generate free cash flow. Forward-looking statements can also be identified by words such as "targets," "expects," "believes," "anticipates," "intends," "may," "will," "plan," "continue," "forecasts," "remains," "would," "should," and similar expressions. Forward-looking statements are based on current expectations, are not guarantees of future performance and involve assumptions, risks, and uncertainties. Actual performance and results may differ materially from those contemplated by the forward-looking statements. We caution you therefore against relying on any of these forward-looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance. Risks and uncertainties include the directors and officers not purchasing the shares, the impact of competition, the future condition of the global and capital markets, the state of the U.S. economy, and the price of fuel. Union Equity does not does not have a duty to and does not intend to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.