SOURCE: UA International Group, Ltd.

February 17, 2006 12:28 ET

/ CORRECTION - UA International Group, Ltd.

KIEV, UKRAINE -- (MARKET WIRE) -- February 17, 2006 -- In the news release, "UA International Group, Ltd. Announces Change in Board, New Symbol, Reverse Split," issued February 16, 2006 by UA International Group, Ltd. (OTC: UAGP), we are advised by the company that third sentence of the second paragraph should read "Nikolay Onyshuck tendered his resignation effective October 18, 2005" rather than "Nikolay Onyshuck has tendered his resignation effective immediately" as originally issued. Complete corrected text follows.

UA International Group, Ltd. Announces Change in Board, New Symbol, Reverse Split

KIEV, UKRAINE -- 02/16/2006 -- UA International Group, Ltd. (OTC: UAGP) announces that it has completed its restructuring.

Shares of UA International Group, Ltd. have been split 1:500 and the symbol has changed from UAIG to UAGP. The Board of Directors has also changed. Nikolay Onyshuck tendered his resignation effective October 18, 2005. Vitaliy Zhygun will remain as President and has been appointed Chairman while Alexander Chugay will retain his position as Director. Valentina Shavahorost has been appointed CFO and Secretary.

Vitaliy Zhygun, Chairman of UAGP, stated, "We are pleased to have completed this phase of development as a public company. We are now in position to begin effective marketing of our business plan to raise capital needed for expansion and development. We anticipate strong growth in all of our industries through new business, acquisitions and development of current projects. Things are moving forward very quickly and we are confident that we will meet our goals."

About UA International Group: Based in Kiev, Ukraine, UA International Group is a Ukraine conglomerate in real estate development, energy, heating and water systems.

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Forward-Looking Statements

Statements in this press release may constitute forward-looking statements and are subject to numerous risks and uncertainties, including the failure to complete successfully the development of new or enhanced products, the Company's future capital needs, the lack of market demand for any new or enhanced products the Company may develop, any actions by the Company's partners that may be adverse to the Company, the success of competitive products, other economic factors affecting the Company and its markets, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission. The actual results may differ materially from those contained in this press release. The Company disclaims any obligation to update any statements in this press release.

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