United Capital Corp. Completes Purchase of Bradley International Airport DoubleTree Hotel.

GREAT NECK, N.Y. -- United Capital Corp. (AMEX: AFP) announced today that it has acquired the 200-room DoubleTree Hotel at The Bradley International Airport in Windsor Locks, Connecticut from an affiliate of MeriStar Hospitality Corporation.

"This acquisition represents an excellent opportunity to expand our holdings in lodging properties and is consistent with our goal of acquiring those properties that provide the best long-term potential for our shareholders," noted A.F. Petrocelli, Chairman of United Capital. "In addition, we plan to invest an additional $2 million over the next two years upgrading and improving the guest rooms and public area space."

United Capital has selected Waterford Hotel Group, Inc. to manage the property and has entered into a new long term license agreement with DoubleTree.

The DoubleTree Hotel at The Bradley International Airport is located at 16 Ella Grasso Turnpike, Windsor Locks, Connecticut less than one mile from the Bradley International Airport and only 10 minutes from downtown Hartford, the state capital of Connecticut. The property, which is located on 8.3 acres, was constructed in 1985. It has 200 guestrooms, including eight handicapped accessible rooms, an executive level with concierge service, business center, high-speed internet access, restaurant, over 4,000 square feet of meeting space, a heated indoor swimming pool, fitness center and complimentary airport shuttle.

The hotel recently installed the Sweet Dreams(R) by DoubleTree Sleep Experience in every room - which includes a plentiful amount of pillows, a luxurious linen package of a down-filled duvet wrapped in triple sheeting and a specially designed plush-top mattress and box spring system that ensures a great night's sleep.

Certain statements in this press release and other statements made by the Company or its representatives that are not strictly historical facts are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995 that should be considered as subject to the many risks and uncertainties that exist in the Company's operations and business environment. The forward-looking statements are based on current expectations and involve a number of known and unknown risks and uncertainties that could cause the actual results, performance and/or achievements of the Company to differ materially from any future results, performance or achievements, expressed or implied, by the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, and that in light of the significant uncertainties inherent in forward-looking statements, the inclusion of such statements should not be regarded as a representation by the Company or any other person that the objectives or plans of the Company will be achieved. The Company also assumes no obligation to publicly update or revise its forward-looking statements or to advise of changes in the assumptions and factors on which they are based. See our 2004 Annual Report on Form 10-K for a discussion of risk factors that could impact our future financial performance and/or cause actual results to differ significantly from those expressed or implied by such statements.

United Capital Corp. owns and manages real estate and through subsidiaries, provides engineered products to industrial and automotive markets worldwide.