Mr. Frank Glosnek reports

UNITED CORPORATIONS LIMITED ANNOUNCES DIVIDENDS

The board of directors of United Corporations Ltd. today declared the following cash dividends.

Class                       Record date    Payable date   Amount of dividend
                                                                            
First preferred shares      May 5, 2016    May 13, 2016               $0.375
second preferred shares,                                                    
1959 series                 May 5, 2016    May 13, 2016               $0.375
Second preferred shares,                                                    
1963 series                 May 5, 2016    May 13, 2016               $0.375
Common shares               May 5, 2016    May 13, 2016                $0.20

United Corporations advises that the above referenced dividends are eligible dividends for the purposes of the Income Tax Act (Canada) and any similar provincial legislation.