Exhibit 99.1
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                         Cautionary Statement

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, costs, unit costs, fully distributed unit costs,
capital spending, cash flows, pre-tax margins, earnings, fully
distributed earnings, earnings per share, fully distributed earnings
per share and price to earnings ratios include, without limitation,
the airline pricing environment; industry capacity decisions; ticketing
actions by travel agents; the success of the Company's cost control
efforts; Year 2000 readiness; the cost of crude oil and jet fuel; the
results of union contract negotiations and their impact on labor costs;
actions of the U.S., foreign and local governments; foreign currency
exchange rate fluctuations; the Pacific economic environment and travel
patterns; the stability of the U.S. economy; the price of UAL common
stock; inflation; the economic environment of the airline industry and
the economic environment in general.