SOURCE: UA International Group

December 04, 2006 11:08 ET

UA International Group, Ltd. Receives Board and Shareholder Approval for Its Acquisition of Kievenergomash

KIEV, UKRAINE -- (MARKET WIRE) -- December 4, 2006 --UA International Group, Ltd. (PINKSHEETS: UAGP) announces that it has received Board and Shareholder approval for its acquisition of Kievenergomash CJSC (KEM).

Alexander Chugay, Chairman of KEM and Director of UAGP stated, "The strong support we have received from UAGP shareholders for the acquisition of KEM was overwhelming. We look forward to moving to the next step which will be the share exchange and formal closing of the acquisition. Subsequent to closing we will file our 211 with the NASD to open trading as soon as possible."

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 proposed 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 services and is now diversifying into electricity transmission and clean energy generation in addition to pure 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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