whats going up before drilling on block 1711.

Universal Power Corp.

TSX VENTURE: UNX
FRANKFURT: 3U2A

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 26, 2008) - Universal Power Corp. (TSX VENTURE:UNX)(FRANKFURT:3U2A) ("Universal") or (the "Company") announced today that it has entered into a Letter of Intent ("LOI") with Telpon Property Holdings Inc. (Telpon) to purchase up to 90% of all of the issued and outstanding shares in the capital of Kunene Energy (Pty) Ltd. ("Kunene") a Namibian oil and gas exploration and production company led by Mr. Knowledge Katti.

The Company will pay Telpon $850,000 cash and will issue 1,500,000 shares and 1,500,000 share purchase warrants of the Company upon completion of due diligence and TSX Venture Exchange ("TSX-V") approval.

The LOI will establish a strategic partnership designed to exclusively position Universal with ownership in key Namibian oil and gas assets while allowing Kunene to access foreign capital to fuel growth. The partnership cooperates with proposed Namibian Black Economic Empowerment ("BEE") initiatives through equity and project ownership in the Company.

Barry Swanson, CEO of Universal stated "this acquisition is a major step for our company and shareholders as we move closer to our goal of becoming a successful global energy exploration and production company. The purchase of Kunene immediately gives us a carried interest in a potential multi-billion barrel oil and gas project (Block 1711) set to commence drilling next month plus two off-shore oil and gas concession blocks (2713 A&B) in the prolific Orange Basin. Furthermore, with our partner the Namibian BEE, we will work closely on developing future oil and gas projects in the country".

About Block 1711

Kunene holds a 3% carried interest in Petroleum Exploration License ("EL") 1711, Sintezneftegaz, a Federation of Russia oil and gas company based in Moscow holds a 70% working interest, PetroSA, South Africa's national oil company holds a 10% working interest, EnerGulf Resources Inc (TSX-V listed) holds a 10% working interest and NAMCOR, the national oil company of Namibia holds a 7% carried interest.

EL 1711 is located in the Namibe basin off the northern coast of Namibia along the international boundary with Angola. Two individual prospects, the Kunene and Hartmann have been identified by 3-D seismic along with other undeveloped leads. The syndicate is targeting a potential multi-billion barrel oil and gas resource with drilling scheduled to commence in March 2008.

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