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Non-Tech : United Airlines -- Ignore unavailable to you. Want to Upgrade?

To: Fredman who wrote (51)	1/13/2004 7:03:49 PM
From: Moez	Read Replies (1) \| Respond to of 94

Please DO NOT buy UAL stock. The stock is being canceled, and will have no value. UAL is even telling you that on their website (See Below) UAL will issue new stock upon emergence from Chapter 11, thats the stock you are looking for. ....Moez united.com Why is United canceling the stock? We are not "canceling the stock" today. However, after considering the further analysis we've conducted in recent months, the company believes it is highly likely that stock in UAL will be canceled as a part of United's exit from Chapter 11. In connection with the preparation for exit, the company has assessed the competing claims of the company's constituencies against UAL and its bankruptcy estates. The company does not believe that its assets will be sufficient to permit any meaningful distribution to its equity holders. As a result of this assessment, the company believes the equity securities have little or no value and that it is likely any confirmed plan of reorganization will provide for the cancellation of all equity in UAL. Does this mean that the stock is now worthless? While United's stock continues to be traded on the Bulletin Board exchanges, the company believes its equity securities have little or no value and are highly likely to be canceled under the plan of reorganization. You say the cancellation of the stock is "highly likely." Does this mean there is some chance the stock will not be canceled after all? In most Chapter 11 cases, the stock of the debtor company is canceled upon emergence from bankruptcy, but in some instances the stock survives (but often after significant dilution) under the plan of reorganization. However, the company believes it is highly likely that stock in UAL will be canceled as a part of United's exit from Chapter 11.