SOURCE: UA International Group

May 03, 2006 11:36 ET

UA International Group, Ltd. Engages Baker Tilly Member IGK Ukraine Audit Firm

KIEV, UKRAINE -- (MARKET WIRE) -- May 3, 2006 -- UA International Group, Ltd. (OTC: UAGP) announces that it has formally engaged IGK Ukraine, an independent member of the prestigious accounting firm Baker Tilly International.

UAGP has engaged IKG Ukraine to conduct a full audit and intends to become a fully reporting company and apply for a listing on the American Stock Exchange (AMEX) in the USA. The audit began on April 25th and should be completed within 5-6 weeks from the start date. Upon completion of the audit, UAGP will file a form 10-SB and apply for an initial OTCBB listing until it meets the requirements to apply for a planned AMEX listing.

Vitaliy Zhygun, Chairman of UAGP, stated, "We are pleased to begin our audit with this widely known and respected international accounting firm and look forward to providing a clear financial picture of our company to the investment community with a full scale audit of our company in accordance with GAAP. While the audit is ongoing, we will be preparing our form 10-SB, so we may file to become a fully reporting company as soon as possible. Our initial move from the pink sheets to the OTCBB will increase exposure to the investment community and provide for enhanced liquidity in the trading of our shares.

"Once investors see the progress we are making, they will have increased confidence in our company. As we continue to implement our strategic plan, we are confident in our ability to attract the larger amounts of investment capital needed to complete the various projects on which we are working and meet our projections."

About UA International Group: Based in Kiev, Ukraine, UA International Group, Ltd. is diversified Ukraine company with investments in real estate development, energy generation and transmission, electricity, heating, and water systems.

For more information please visit our websites at www.uagp.com.ua and www.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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