United Reef Limited

United Reef Limited

September 04, 2007 16:01 ET

United Reef Announces Director's Resignation

TORONTO, ONTARIO--(Marketwire - Sept. 4, 2007) - United Reef Limited (TSX VENTURE:URP)(CNQ:URPL) ("United Reef") announces that Mr. Robert Jackson has resigned as a director of the Company effective September 4, 2007 due to his other business obligations. Mr. Jackson has served as a director since 2004. The board of directors thanks Mr. Jackson for his contribution to the Company and wishes him well in his other endeavours.

The Company also announces that the transaction announced on August 23, 2007 with General Gas Corporation relating to the restructuring of the ownership of General Reef Corporation is presently scheduled for completion on September 7, 2007. The transaction remains subject to the approval of the TSX Venture Exchange.

Shares issued: 64,360,980

Fully diluted: 68,523,480

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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