Exhibit 99.1

                                    
                        Cautionary Statement
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UAL Corporation ("UAL") and its representatives from time to time
participate in speeches and calls with market analysts,
conferences with investors and potential investors of UAL and
United Air Lines, Inc. securities, and other meetings and
conferences.

Some of the information presented in such speeches, calls,
meetings and conferences may be forward-looking and involves
risks and uncertainties that could result in actual results
differing materially from expected results.  It is not reasonably
possible to itemize all of the many factors and specific events
that could affect the outlook of an airline operating in the
global economy.  Some factors that could significantly impact
expected capacity, traffic, load factors, yields, revenues, unit
revenues, expenses, unit costs, capital spending, cash flows, pre-
tax margins, earnings, earnings per share and price to earnings
ratios include the airline pricing environment, fuel costs, low-
fare carrier expansion, actions of the U.S., foreign and local
governments, foreign currency exchange rate fluctuations, costs
of security and safety measures, the price of UAL common stock,
inflation, the economic environment of the airline industry and
the general economic environment.