SOURCE: United American Corporation

August 21, 2007 11:33 ET

United American Corporation Reports Largest Quarterly Profit Ever, up 945% From '06 Quarter, Revenues Surpass $13 Million for the First Six Months of 2007, a 203% Increase From Previous Year

MONTREAL--(Marketwire - August 21, 2007) - United American Corporation (OTCBB: UAMA) is pleased to announce that its total revenue reported for the three months ended June 30, 2007 was $7,686,298, producing a net income of $432,497 or $0.01 per share, up 945% from the previous year.

The results boost six month net income to $463,169 on revenues of $13,170,050. The increase comes primarily from sales of wholesale telecommunication termination services for destinations in Africa.

"We are pleased with the results of our operating division, United American Telecom," says newly appointed President & CEO George Metrakos. "With the SEC Corporate Finance review and the re-statement of our financials behind us, the company will now be able to focus entirely on its core telecom operations."

For a copy of the Company's latest quarterly filings, please visit www.sec.gov.

About United American Corporation

United American Corporation is a holding and management company focused on next generation Voice over Internet Protocol (VoIP) based telecommunications. Its operating division, United American Telecom, operates an international VoIP settlement and exchange gateway linking Tier 1 and Tier 2 Telecom carriers with the Company's installed. The Company recently spun-off its Retail operation TeliPhone™ by paying a special stock dividend to shareholders. For more information, visit the company website at http://www.unitedamericancorp.com.

This news release contains forward-looking statements that are subject to various risks and uncertainties. The Company's actual results could differ materially from those anticipated in such forward-looking statements as a result of numerous factors that may be beyond the Company's control. Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made, and the Company assumes no obligation to update forward-looking statements should circumstances in management's expectations or opinions change.

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