United American Corporation : a net profit of $543,000 for the year ended December, 31 2003

Montreal, Canada, June 9th, 2004. - United American Corporation (NASDAQ otcbb: UAMA), a leading North American VoIP telecommunication carrier is pleased to announce a net profit of $543,000 or $0.04 per share for the year ended December 31, 2003, compare to a net lost of $567,172 or $.05 for the year 2002.

The Q4 and the year ended 2003

During the year 2003, a thorough restructuring of the finance department of the company was completed in order to improve the comprehension and transparency of its financial statements.

"With this major change, United American Corporation is in a good position to focus on consolidating its operation with the newly acquired telecom operator and maintains its search for new opportunities", commented Benoit Laliberté , President & CEO.

The complete annual report (10KSB) is available on the company web site at: www.unitedamericancorp.com.

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 operates CaribbeanONE™ a state-of-the-art International Telecommunication route & Gateway. 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.