United American Corporation announces that CaribbeanONE™ is working at full capacity

Montreal, Canada, March 15, 2004. - United American Corporation (NASDAQ otcbb: UAMA), announces that CaribbeanONE™, the international VoIP link and gateway, a wholly owned subsidiary of United American Telecom (UAT) is already working at full capacity.

Several national telecom companies have selected CaribbeanONE™ to transit and terminate Worldwide calls within the Caribbean countries. The 2 millions minutes per month initial capacity of international calls termination have already been allocated.

UAT is currently working on the second phase of its link deployment. Based on the actual tendency of termination demands, the Corporation intends by next month to double its capacity.

“With the very high communication quality of our link, it is not surprising that we received that many demands”, commented Benoit Laliberté, President & CEO. “CaribbeanONE™ is an important part of the assets of UAT, and we are now comfortable to increase its capacity”, added Mr. Laliberté.

CaribbeanONE™ is an end-to-end Fibre-optic & microwave Virtual Private Network (VPN) between the company North American main and remote central office (CO). With a 50 milliseconds connection delay, CaribbeanONE™ is the fastest and most powerful connection within the Caribbean countries, as fast as a New York-Los Angeles connection.

ABOUT UNITED AMERICAN CORPORATION

United American Corporation is a holding and management of next generation of Voice over Internet Protocol (VoIP) based telecommunication Company. The organisation currently has five subsidiaries. Each subsidiary operates in a specific niche market in a fast growing global worldwide IP-based telephony network. The company has created a network that is providing services from local IP-based telecommunication to international telecommunication carriers. Vectoria Telecom, Inc operates sophisticated extended local communication VoIP central office, while United American Telecom, Inc is involved in state-of-the-art International Telecommunication link & Gateway in high potential foreign countries. For more information, visit the company website at 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.