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United American Takes Majority Stake in Dialek Telecom
May 20, 2005 (CORPORATE CONFERENCE CALL ABSTRACTS via COMTEX) --
United American Corporation announced that it has acquired Dialek Telecom of Sherbrooke, Quebec.

Dialek will become a subsidiary of United American Corp., owned 75 percent by United American and 25 percent by Dialek's original founder. Dialek Telecom is an independent provider of telecommunications services to residential and business clients, including broadband internet connectivity, Voice-over Internet Protocol (VoIP) services and traditional telephone lines. Dialek has over 625 existing customer relationships as well as strong partnerships with major providers such as Sprint Canada, Videotron Ltd., Groupe Telecom and Cogeco Cable.

Dialek currently produces US$350,000 annual revenues. United American believes that by leveraging its strength in development and delivery of telecommunications services, Dialek's revenues will grow significantly in the future.

United American noted that the Dialek acquisition will further enhance the company's shareholder value by increasing its portfolio of high-value assets, alongside its wholly owned subsidiary United American Telecom.

United American Corporation is a holding and management company focused on next generation Voice over Internet Protocol (VoIP) based telecommunications. The organization has recently spun-off its VoIP services company, Teliphone, 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, an International telecommunication route & gateway, United American noted in a release.

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