UniverCell Announces Maturity of Convertible Debentures BALTIMORE, May 19 /PRNewswire-FirstCall/ -- UniverCell Holdings, Inc. (BULLETIN BOARD: UVCL) , a leading international cellular phone rental company, announced today that as of May 7, 2004, the remaining convertible debentures issued in 2001 have matured. On May 7, 2004 there was a remaining balance of $12,000 that was automatically converted into stock as per the debenture agreement. Sean Y. Fulda, Chairman and CEO, stated, "We are pleased that the company has no more convertible debt. The company currently has 120,543,894 shares issued and outstanding after the final conversion. This allows us to move forward with our growth plans without any long-term debt." Contact Info: Investor Relations UniverCell Holdings, Inc. (800) 765-2355 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., +1-800-765-2355 x8150 Web site: http://www.rentalcell.com/

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