United American Corp. Files its 10KSB

Montreal, Canada, May 2, 2005 — United American Corporation (NASD OTCBB:UAMA, NASD OTCBB:UAMAE) wishes to inform its shareholders that it has filed its 10KSB annual report. With this filing, NASD OTCBB is expected to remove the “E” at the end of the UAMA trading symbol within the next 24-72 hours.

Management will now focus on finalizing its spin off of Teliphone Inc., its wholly-owned Voice-over-Internet-Protocol (VoIP) company, and continue the expansion of its United American Telecom subsidiary.

For more details, please visit www.sec.gov to find United American Corp’s annual report.

About United American Corporation

United American Corporation is a holding and management company of next generation Voice over Internet Protocol (VoIP) based telecommunication Company. The organization 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, which provides services from local IP-based telecommunication to international telecommunication carriers. TeliPhone™, 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.