United Communications Partners Inc (UCPA)

[Barn Cat]

Barn Cat reviews Chairman Lars Blomberg last statement to the shareholders
and find it to be positive.

Q2 2014
New York, USA, 15th of August 2014.

Letter of Chairman

We hereby file the UCP 2014 Q2 report. The complete report can be viewed here. ln addition to the report we want to highlight the following in the UCP group development.

Net revenues the first half year is twice as high as the same period last year, which is explained both by new clients in all operative entities and several current clients buying new communication services in addition to more traditional media investment counseling, buying and planning. The three months ended 30 June 2014 also shows growth compared with the first three months, an increase with 13 percent.

The Group is investing to achieve the objective to provide high level effective communication services to clients in the increasingly complex communication arena. The last quarter the Group has definitely become positioned in the market as a proactive communication agency focusing on results and being a partner of clients' management, rather than a traditional media agency. This strategy has unavoidably however given the group higher costs in the first half year as staff possessing new competencies has been recruited and current staff is undergoing training in new skills. We are however convinced this investment, together with the work on improving efficiency in the Group, will result in improved profitability in the future.

During the three months ended 31 March 2014 the Group increased its number of staff with six (6) to fifty two (52) staff in the majority owned entities. This increase was due to the increased work load starting up with new clients; the project described above and increased sales efforts. During the three months ending June 30, 2014, the Group has increased staff net with only two (2), but when replacing staff leaving, new profiles have been hired.

Our clients' media spending in the second quarter has improved compared to the first quarter in 2014. The aggregated media spend for all companies in the group including minority interest companies increased by 5% (+3.8 MUSD) compared to the first six months in 2013. Our share of the media billings also increased, by 10.6% (+5 MUSD).

The Group's budget for 2014 does incorporate the new business plan,and as media spending has also picked up the second quarter of this year,
we still aim for delivering break-even in 2014.

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