Universal Capital Management Discusses Lightwave Logic in an Open Letter to Its Shareholders

Reported by marketwire on Tuesday, 3 November 2009 (on November 3, 2009)

WILMINGTON, DE--(Marketwire - November 3, 2009) - Universal Capital Management, Inc. (OTCBB: UCMT), a Wilmington, Delaware business development company that provides
management and strategic growth resources to emerging growth companies,
released an open letter to its shareholders regarding the recent
advancements reported by one of its portfolio companies Lightwave Logic
Inc.

Dear shareholders:

Lightwave Logic has been part of Universal's investment portfolio since its
inception. From the beginning, Universal recognized the potential of
Lightwave Logic's science. Lightwave's recent press release announcing the
successful completion of the fabrication stage of their prototype phase
modulator, which demonstrates a commercially viable process for the
manufacture of optical devices using Lightwave's 'Next Generation
Electro-Optic Material Platform,' validates Universal's foresight to invest
in Lightwave Logic.

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