CHICAGO, Jan. 9, 2006 -- UAL Corporation (OTC Bulletin Board: UALAQ.OB), the holding company whose primary subsidiary is United Airlines, announced today the launch of its exit financing loan for up to $3 billion. The six-year loan will be secured by substantially all available assets and comprised of a $300 million revolving credit facility and an up to $2.7 billion term loan, both priced at LIBOR + 450 basis points. Proceeds will be used for several purposes: to repay outstanding loans under United's debtor-in-possession financing; certain bankruptcy-related expenses; working capital; and other general corporate purposes.

The financing is led by JPMorgan and Citigroup. GE Capital will act as syndication agent.

"We have been pleased that our debtor-in-possession loan has been oversubscribed, and we look forward to successful syndication of our exit facility," said Kathryn Mikells, United vice president and treasurer. A hearing to confirm United's plan of reorganization is scheduled for Jan. 18, and the company is planning to exit bankruptcy on or about Feb. 1.

About United
United Airlines (OTCBB: UALAQ.OB) operates more than 3,400 flights a day on United, United Express and Ted to more than 200 U.S. domestic and international destinations from its hubs in Los Angeles, San Francisco, Denver, Chicago and Washington, D.C. With key global air rights in the Asia-Pacific region, Europe and Latin America, United is one of the largest international carriers based in the United States. United is also a founding member of Star Alliance, which provides connections for our customers to 790 destinations in 138 countries worldwide. United's 57,000 employees reside in every U.S. state and in many countries around the world. News releases and other information about United can be found here.