United Reef Limited

United Reef Limited

September 11, 2007 13:39 ET

United Reef Receives Conditional Approval

TORONTO, ONTARIO--(Marketwire - Sept. 11, 2007) - United Reef Limited (TSX VENTURE:URP)(CNQ:URPL) ("United Reef") announces that it has received conditional approval from the TSX Venture Exchange for the transaction announced on August 23, 2007 relating to the restructuring of the ownership of General Reef Corporation. Completion of the transaction is expected to take place by September 21, 2007.

For further information about United Reef please visit our website at www.unitedreef.com.

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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