Ulysses Diversified Holdings Corporation Announces the Addition of its First Asset to the Company's Portfolio

NEW YORK, Nov 03, 2009 (BUSINESS WIRE) --
UDHC | Quote | Chart | News | PowerRating -- Ulysses Diversified Holding Corporation (Pinksheets:UDHC) is pleased
to announce that it has finalized an agreement with OS6, Inc., which
controls a parcel of land on North Delsea Drive in Vineland, New Jersey,
by way of a ninety eight (98) year ground lease (For more
information, please view our preliminary website at udhc.net).
The land is valued at $1.5 million dollars, which may be further
confirmed by an independent MAI appraisal.

The agreement is as follows:

- OS6, Inc. will contribute control of the ground lease to a joint
venture with UDHC, which will receive the benefits of such development,
in exchange for 300,000 shares of restricted common stock of UDHC.

- In anticipation of certain events which include either (a) filing for
or (b) commencement of a payment of dividends to common shareholders on
a quarterly basis, it has been agreed that OS6, Inc. will have the
option to convert said shares to a non restricted status and participate
in said dividend. However, if OS6 elects to exercise said option, such
conversion would then reduce the position of OS6, Inc. from 300,000
restricted common shares to 120,000 common shares.

OS6 Inc.'s decision to accept UDHC common shares and the determination
as to the amount of shares, was based upon the estimated values
anticipated in the future due to a combination of (a) current value of
the land; (b) the value of the land along with the completion of the
development; (c) the intention to add additional hard assets in the
future to the holdings of UDHC that would affect the value of UDHC and
the portfolio, the creation of which has begun with this first asset and
to grow overtime;

OS6 Inc. has further agreed that, due to its extensive knowledge of
future values to be created that (a) it will not purchase any additional
UDHC shares with the maximum number owned being limited to 300,000; (b)
it has the right to sell its position only if and when payment of
dividends would commence; (c) it will not utilize any information to
which it may be privy, during discussions and negotiations with UDHC,
which might allow it to profit beyond its receipt of the initial 300,000
shares or the number of shares it would convert to under the
aforementioned option;

Mr. Weiss' stated position is that " the overall economy has stagnated
along with commercial real estate. Such is the case with all industries
and businesses, which have their own respective problems. However, this
project is a major beneficiary of a location that is hard to replicate,
it is poised to commence at the end of a bad economic cycle, it still
makes sense economically and national and credit tenants are proceeding
with full awareness of the current economic environment. Their
commitment, to the project and location, are the best indications of
what would be a successful project."

He also added ""There are always bright spots and niches that one may
benefit from and take advantage of. This development will become part of
the psychology of the area and may even be branded in the region when
one may commonly hear the refrain ""let's go shop by the stores over by
Walmart"" or ""let's stop by the GameStop by Walmart"". One may assume
that as the economy strengthens an already economic and viable project
will only increase in value.

A prime location; solid economics; a development and location that
tenants want- these are just three of a number of factors that will
ensure success and be part of the fundamentals inherent within our
intent to build the portfolio of assets and values UDHC will enjoy over
the long term."

This first asset reflects a desire and ability to create solid values
for the future without it being a "surge" or "flash in a pan". There is
a desire to realize the value, that can be achieved in this market, by
way of projects of a caliber that can be acquired at an attractive level
and provide solid earnings. Priorities include acquisitions of
development as well as credit tenants that will do well for the future,
be it this or other projects.

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. 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.

SOURCE: Ulysses Diversified Holding Corporation

Ulysses Diversified Holding Corporation 
Nadia Serrano, 212-201-1670 
Fax: 212-501-2081 
Administrative Assistant 
info@udhc.net

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