updated 4/29/2011 9:45:46 AM ET 2011-04-29T13:45:46

IRVINE, Calif., April 29, 2011 (GLOBE NEWSWIRE) -- Universal Bioenergy Inc. (Pink Sheets:UBRG), a publicly traded energy company, announced that its President and Chief Executive Officer, Vince M. Guest, issued the Company's 2010 Annual Letter to Shareholders, which covers an update on the Company's operations, finances and future outlook for its shareholders and the investment community. The full and complete text of the Annual Letter to Shareholders can be read in the Form 8K filed with the SEC on April 29, 2011.

In 2010, the current management team took Universal Bioenergy, a development stage company that in previous years had no revenue, limited operations, and very little volume and liquidity in its stock, turned it around and generated revenue in excess of $41 million in less than one year.

Vince M. Guest, Universal's President and CEO, states, "We felt we had a mandate from our shareholders to build a good, solid operating company. I am very proud to be able to say that we accomplished what we set out to do, and achieved some outstanding results on behalf of our shareholders. I really must commend our Senior V.P., Solomon Ali, and all those on our team who worked so creatively, and spent many countless hours performing thousands of tasks and activities to make this all possible for our shareholders. We believe our Company and its stock are greatly undervalued, and the current trading prices are not truly reflective of its real value, and the share price has great potential for increase. We feel very confident in our future and ability to grow the Company through more strategic acquisitions and to generate higher revenues and earnings. We believe we're on the right track to create another outstanding year for our shareholders."

About The Company

Universal Bioenergy Inc. is an alternative energy company, and intends to create and market natural and alternative energy sources including natural gas, petroleum, solar, biofuels, wind, synthetic fuels and related energy technology products. It plans to build the company into a prominent player in alternative energy.

The Universal Bioenergy Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6784

Safe Harbor Statement- There are matters discussed in this media information that are forward-looking statements within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. Such statements are only forecasts and actual events or results may differ materially from those discussed. For a discussion of important factors which could cause actual results to differ from the forward-looking statements, refer to Universal Bioenergy Inc.'s most recent annual report and accounts and other SEC filings. The company undertakes no obligation to update publicly, or revise, forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent legally required.

CONTACT: Media Relations:
         Solomon Ali
         704-837-5705

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved

Discuss:

Discussion comments

,

Most active discussions

  1. votes comments
  2. votes comments
  3. votes comments
  4. votes comments

Data: Latest rates in the US

Home equity rates View rates in your area
Home equity type Today +/- Chart
$30K HELOC FICO 5.10%
$30K home equity loan FICO 5.20%
$75K home equity loan FICO 4.65%
Credit card rates View more rates
Card type Today +/- Last Week
Low Interest Cards 13.36%
13.34%
Cash Back Cards 17.87%
17.82%
Rewards Cards 17.11%
17.07%
Source: Bankrate.com