Published:
Universal Communication Systems, Inc., Bond / Debenture Holder Converts $600,000 Being Half of Outstanding Debt at $ 0.50 per Share

Universal Communication Systems, Inc. company president Michael J. Zwebner announced today that the company
has successfully reached agreement with The Endeavor Capital Investment
Fund S.A , being one of the main remaining debenture holders to convert
almost 50% of the outstanding debenture debt, a total of $600,000 for 50
cents per share. The company will now issue 1.2 million shares to close
this transaction.
In a statement issued today, Mr. Zwebner said: "In line with company policy
of reducing outstanding debts, we are very pleased with this transaction.
This cuts in half the amount remaining outstanding to The Endeavor Capital
Investment Fund S.A. We take this opportunity to thank the directors of the
fund for their co-operation and final agreement."
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Safe Harbor:
Caution Concerning Forward-Looking Statements by Universal Communication
Systems, Inc.
This document includes certain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. These
statements are based on management's current expectations or beliefs, and
are subject to uncertainty and changes in circumstances. Actual results may
vary materially from those expressed or implied by the statements herein
due to changes in economic, business, competitive, technological and/or
regulatory factors, and factors affecting the integration of the businesses
of Universal Communication Systems, Inc. More detailed information about
these factors may be found in filings by Universal Communication Systems,
Inc. with the Securities and Exchange Commission, including their most
recent annual reports on Form 10-KSB and quarterly reports on Form 10-QSB.
Universal Communication Systems, Inc. is under no obligation to, and
expressly disclaim any such obligation to, update or alter their
forward-looking statements, whether as a result of new information, future
events, or otherwise.
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