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United American Corp.'s Wholly-Owned Subsidiary United American Telecom Introduces Pre-Paid Long Distance Phone Card Product; Completes Distribution Agreement
MONTREAL, May 11, 2005 (BUSINESS WIRE) --
United American Corporation (OTC BULLETIN BOARD:UAMA) is pleased to announce that its wholly-owned subsidiary United American Telecom will launch a pre-paid long distance card called HaitiDIRECT(TM), which will permit customers to make calls using its CaribbeanONE(TM) infrastructure on a pre-paid basis. A distribution agreement with a leading North American Pre-Paid card Distributor has also been signed in order to market the product throughout North America.
The HaitiDIRECT(TM) card, with its printing in tri-lingual English, French and Creole, will sell for $5.00US and will become the product of choice within the lucrative Caribbean market for long distance calling. Anticipated sales will be 200,000 units per month, producing monthly revenues of 1,000,000$. This will represent significant growth from the 240,000$ of current monthly revenues.
About United American Corporation
United American Corporation is a holding and management company focusing on next generation Voice over Internet Protocol (VoIP) based telecommunications. The organization has recently spun-off its VoIP services company, Teliphone Inc., where shareholders received a property dividend of the new corporation. The company is now focused on growing its new flagship subsidiary, United American Telecom, with operates CaribbeanONE(TM), 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 exppectations or opinions change.
United American Corporation (OTC Bulletin Board:UAMA)
SOURCE: United American Corporation
United American Corporation
Investors Relations
(514) 313-5960
investorsrelations@unitedamericancorp.com
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