SOURCE: UA International Group

March 29, 2007 15:02 ET

UA International Group, Ltd. Completes Name Change

KIEV, UKRAINE -- (MARKET WIRE) -- March 29, 2007 -- UA International Group, Ltd. (PINKSHEETS: UAGP) announces that it completed its name change to Ukraine Energy Acquisition Corporation.

UAGP has completed its filing with Nevada's Secretary of State to change its name to Ukraine Energy Acquisition Corporation, effective immediately.

The stock symbol will remain UAGP until such time as a new symbol is requested from the NASD.

Alexander Chugay, Chairman of KEM and Director of UAGP, stated, "The name change from UA International Group, Ltd. to Ukraine Energy Acquisition Corporation more accurately reflects the direction of our company and the focus of our business plan to become a major player in the Ukraine energy sector through an aggressive acquisition and growth strategy in energy infrastructure transmission and renewable energy generation. While focusing on targeted acquisition opportunities we will continue to expand our current energy operations and core business of thermal generation in heating, electrical systems and other related sectors."

About UA International Group: Based in Kiev, Ukraine, UA International Group is an American public company created for the purpose of acquiring Ukraine corporations specializing in the energy sector.

About KEM: A UAGP wholly owned subsidiary, KEM is a Ukraine company with over 13 years in operations, investments and activities in several energy related industries including commercial, residential, industrial and infrastructure electrical systems, heating, natural gas pipeline construction and support services is now diversifying into electricity transmission and clean energy generation.

For more information please visit our websites at www.eng.kem.com.ua.

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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