Universal Capital Management, Inc. Adds the Constellation Group to its Group of Portfolio Companies

The Constellation Group offers a celebrity entertainment service designed to utilize a unique content distribution system via mobile phones. In its developmental stage, the company intends to tap into an already lucrative wireless market while anticipating new consumer demand. Unlike a fan club, subscribers will receive exclusive, direct communication with entertainment celebrities on a regular basis with numerous opportunities for interaction. Celebrities in turn will generate revenues and maintain awareness.

"This is a seasoned and well-connected management team with the contacts and technology crucial to the company's success," said UCM President and CEO Michael D. Queen. "The Constellation Group has a platform that we consider to be almost recession-proof because entertainment is a universal commodity. We are excited about this addition to our portfolio and the potential to our shareholders."

Pursuant to its business plan as a Business Development Company, Universal intends to dividend shares of The Constellation Group to Universal shareholders upon the effectiveness of The Constellation Group's S-1 registration statement that The Constellation Group expects to file with the Securities and Exchange Commission later this year.

About Universal Capital Management, Inc.:

Universal Capital Management, Inc., is a publicly traded Business Development Company created under the Investment Act of 1940. Its purpose is to assist its portfolio companies with funding and management to facilitate growth and increase their value. Please refer to the company's website at http://www.unicapman.com

Forward-looking Statements:

Certain matters discussed in this press release are "forward-looking statements." These forward-looking statements can generally be identified as such because the context of the statement will include words, such as Universal Capital Management, Inc., or The Constellation Group "expects," "should," "believes," "anticipates" or words of similar import. Similarly, statements that describe UCM's or The Constellation Group's future plans, objectives or goals are also forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties, including the financial performance of UCM or The Constellation Group as appropriate, and the valuation of UCM's investment portfolio, which could cause actual results to differ materially from those currently anticipated. Although UCM and The Constellation Group believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, they cannot give any assurance that their expectations will be attained. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating any forward-looking statements. Certain factors could cause results and conditions to differ materially from those projected in these forward-looking statements, and some of these factors are discussed below. These factors are not exhaustive. New factors, risks and uncertainties may emerge from time to time that may affect the forward-looking statements made herein. These forward-looking statements are only made as of the date of this press release and both UCM and The Constellation Group do not undertake any obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.

SOURCE Universal Capital Management, Inc.

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