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United Companies Changing Structure of Trebor Industries Acquisition Business Editors SARASOTA, Fla.--(BUSINESS WIRE)--Feb. 17, 2004--United Companies Corporation, (OTCBB:UCPJ) rescinded today the press announcement stating that it has completed its merger with Trebor Industries.

United President, Dave Norris stated that as a result of the final review of the transaction the merger has not closed. Both parties have agreed to change the structure of the acquisition to a share exchange versus a merger. Mr. Norris further states that both Trebor and United are excited about the transaction and are working diligently to complete the documentation in the next few days.

For further information now on Trebor Industries, Inc., d/b/a Brownies Third Lung go to http://www.browniedive.com.

Forward Looking Statements: Statements about the company's future expectations, including revenues and earnings and all other statements in this press release other than historical facts are "forward looking statements" within the meaning of section 27A of the Capital Securities Act of 1933, section 21E of the Securities Exchange act of 1934, and as the term defined in the Private Litigation Reform Act of 1995. The Company's actual results could differ materially from expected results. The company undertakes no obligation to update forward looking statements to reflect subsequently occurring events or circumstances. Should events occur which materially affect any comments made within this press release; the company will appropriately inform the public.

For investor relations please contact United Companies Corporation.