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UMC Energy PLC (~275)

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Wednesday 12 July, 2006

UMC Energy PLC

EGM Statement

UMC Energy PLC
12 July 2006

                                 UMC ENERGY PLC


At an Extraordinary General Meeting of the Company held this morning the
shareholders approved the following investing strategy:

The strategy of the Company is to make investments in the mining and minerals
sector. The likely focus within that sector is energy-related minerals. The
investments may be either quoted or unquoted and may be in companies,
partnerships, joint ventures or direct interests in mining projects. The
investments may be made in exploration or development stage undertakings or in
producing assets. The Company intends be an involved and active investor. It is
likely that that the number of investments will be small. Accordingly, where
necessary, the Company may seek participation in the management or board of
directors of a company or other entity in which the Company invests. The
Directors are experienced in the mining and minerals sector and intend that they
will undertake initial assessments and due diligence on potential investments
themselves and will retain appropriate professional advice if merited by the
circumstances. Geographically, the Company intends to concentrate on Africa and/
or Asia.

The London Stock Exchange has informed the Directors that they must implement
the Company's investing strategy by 2 August 2006. Failure to do so will result
in the Company's shares being suspended from trading on AIM until such time as
the Directors have implemented the Company's strategy. If the Company has not
made its first investment in line with its stated strategy by 31 December 2006,
it will convene a general meeting of the Company to determine the options for
the Company, including the return of funds to shareholders. The Directors are
currently examining a potential acquisition in line with the above strategy and
will announce further details in due course.

12 July 2006

UMC Energy plc     Yve White       +44 (0) 20 7514 1482

Pelham Public      Charles Vivian      +44 (0)20 7743 6672
Relations          Kate Newton         +44 (0) 20 7743 6676

                      This information is provided by RNS
            The company news service from the London Stock Exchange