UGL Enterprises Ltd.

UGL Enterprises Ltd.

March 01, 2005 16:11 ET

UGL Enterprises Ltd. Grants Options


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: UGL ENTERPRISES LTD.

TSX VENTURE SYMBOL: UGS

MARCH 1, 2005 - 16:11 ET

UGL Enterprises Ltd. Grants Options

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 1, 2005) - UGL
ENTERPRISES LTD. (the "Company") (TSX VENTURE:UGS) has granted incentive
options for a total 450,000 shares to directors, employees and
consultants. The options are exercisable at a price of $0.60 per share
for a period of five years, subject to regulatory approval.

ABOUT UGL

UGL Enterprises Ltd. is a junior resource company trading on the
TSX-Venture Exchange under the trading symbol "UGS". UGL Enterprises has
twelve gold, uranium and copper exploration projects located throughout
Mongolia. The Company has a strategic alliance with Mine Info Ltd., a
leading Mongolian Exploration company, and has a full time office in the
capital city, Ulaan Baatar.

Forward-Looking Statements: Statements in this release that are
forward-looking statements are subject to various risks and
uncertainties concerning the specific factors disclosed under the
heading "Risk Factors" and elsewhere in the Corporation's periodic
filings with Canadian Securities Regulators. Such information contained
herein represents management's best judgment as of the date hereof based
on information currently available. The companies do not assume the
obligation to update any forward-looking statement.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    UGL Enterprises Ltd.
    Arnold Armstrong
    President/CEO
    (604) 683-7361
    or
    UGL Enterprises Ltd.
    Paul McKenzie
    Director
    (604) 689-1810
    info@uglenterprises.com
    www.uglenterprises.com
    or
    Fuller Fletcher & Associtaes Ltd. of London, UK
    European Investor Inquiries
    +44 (0) 20 7256 5204
    info@fullerfletcher.com
    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.