United Development (fka UDVE)

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United Development International to Begin Share Buyback Program; Company Significantly Undervalued

LAS VEGAS, Jan 20, 2005 (PRIMEZONE via COMTEX) -- United Development International (Pink Sheets:UDVE) will begin a share buyback program from the proceeds of its gemstone buying program.
The company believes that as a gold and diamond company, its shares are extremely undervalued. United is currently trading at 1 cent per share. With earnings from the gemstone program, the current share price is considerably low respecting that with gold and diamond mining companies, price to earnings ratio average is 10.

Newmont Mining (NYSE:NEM) is trading at price to earnings ratio of 41, Barrick Gold Corp (NYSE:ABX) is trading at price to earnings ratio of 71, Tiffany & Co (NYSE:TIF) is trading at price to earnings ratio of 22 and Aber Diamond Corporation (Nasdaq:ABER) is trading at a price to earnings ratio of 43.

United Development International, quoted on NQB Pink sheets as "UDVE", is committed to enhancing shareholder value.
http://www.pinksheets.com/quote/news.jsp?url=fis_story.asp%3Ftextpath%3DCOMTEX%5Cpz%5C2005%5C01%5C20...