Court's Amended Scheduling Order Clears Path to Trial in UMDA v. Pfaff

SAIPAN, M.P., Jan. 12 /PRNewswire/ -- Presiding Judge Robert C. Naraja of
Saipan Superior Court issued an amended scheduling order on January 8 in
UMDA's multi-million dollar lawsuit against Robert Pfaff, John Larson, and
their associates, shell companies, and offshore trusts for damages suffered by
UMDA and its shareholders over a ten-year period.

The order states that "In an attempt to prevent further delay in this case,
the Court has cleared its calendar from February 9, 2009 until February 27,
2009 to hear all pending motions in the case," and goes on to say that "A
status conference is scheduled for March 6, 2009 to jointly discuss a new
scheduling order in this case."

Jose Lifoifoi, Chairman of the UMDA Board of Directors, commented: "UMDA is
very pleased that the court has rejected Defendants' delay tactics and set the
case on track for trial later this year. It's great news to us that all
pending motions will be heard in February and that the court has made it
crystal clear to the lawyers for Mr. Pfaff and Mr. Larson and their many shell
companies that the time for delay is over. The Defendants will finally be
forced to disclose the evidence they have been wrongly hiding for so long."

Pfaff and Larson were convicted by a federal court in New York of multiple
counts of tax evasion in December of 2008 and Pfaff is facing another trial
later this year under a second indictment charging him with misusing UMDA
accounts and assets for personal gain.

Chairman Lifoifoi concluded, "UMDA has turned over countless documents showing
how Mr. Pfaff and Mr. Larson hurt UMDA. Now, it's high time that the people
of Micronesia have their day in court and that these convicted criminals and
their cronies are called to account for the harm that they have done to the
shareholders of UMDA. Although the defendants have done their best to hide
their ill-gotten gains away in family trusts and shell companies, I want to
assure our shareholders that we will get to the bottom of their schemes and
recover the money that rightly belongs to UMDA."

About UMDA

UMDA was founded in 1966 in Saipan. Over the years, UMDA has been involved in
a wide range of businesses, including airlines, cable systems, shipping, and
resort properties. UMDA's shareholders include the government or governmental
entities of the CNMI, Palau, Federated States of Micronesia, and thousands of
individual Micronesians and their families. In December 2007 UMDA announced
the purchase from JAL Group of the Hotel Nikko Saipan, a 313-room luxury hotel
in Saipan.

SOURCE United Micronesia Development Association, Inc.

Russell K. Snow, Jr., President and Chief Executive Officer of United
Micronesia Development Association, +1-670-322-8632, Fax, +1-670-322-1000, or
Cell, +1-670-285-8632; or Rodney Jacob of Calvo & Clark LLP, +1-671-646-9355