PAMPA, Texas, Sept. 11 UMC, Inc. (formerlyUnited Medicorp, Inc.) announced that, at its Special Meeting of Stockholdersheld May 15, 2007 in Dallas, Texas, shareholders approved the official changeof the Company's name to UMC, Inc. Shares of UMC, Inc. began trading on thePinksheets under its new symbol "UMCN" on September 10, 2007.
In addition, the Company announced that all other proposals voted on atthe special meeting of stockholders were also approved by a majority of theshareholders. The approved proposals were to increase in the number ofauthorized common shares; to eliminate the authorized preferred stock; tocreate a share repurchase program; and, to ratify and approve agreements andfinancial transactions with Stevens Financial Group, L.L.C.
The name change became effective on May 15, 2007 upon the filing of anamendment to the company's Articles of Incorporation with the Secretary ofState in the state of Delaware where the company is incorporated.
About UMC, Inc.
UMC, Inc., through its affiliates, provides outsourced receivablesmanagement and related services to healthcare providers. It also engages inthe purchase, collection, and management of portfolios of delinquent andnon-performing self-pay medical accounts. For more information visithttp://www.umcinc.com.
This press release contains forward-looking statements within the meaningof the Private Securities Litigation Reform Act of 1995. Such forward-lookingstatements involve known and unknown risks that may cause UMC, Inc.'sperformance to differ materially. Such risks include, without limitation:changes in trends in the financial services industry; our ability to competesuccessfully with competitors in the market; our ability to maintain clientcontracts or to enter into new contracts; uncertainties related to futureincentive payments; and, our ability to operate successfully in new lines ofbusiness.
CONTACT: Investors, Danniel Stevens, Interim CEO, 806.669.9223
SOURCE UMC, Inc.