EXHIBIT 99.1

FOR IMMEDIATE RELEASE:

United Energy Contact:
Ronald Wilen
Chairman and Chief Executive Officer
(201) 842-0288



           UNITED ENERGY ANNOUNCES $1.75 MILLION FINANCING ARRANGEMENT
                                WITH LAURUS FUNDS

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     March 24, 2004 - UNITED ENERGY CORP. (OTCBB: UNRG.OB) announced today that
it has entered into a $1.75 million financing arrangement with Laurus Master
Fund, Ltd. ("Laurus Funds"), a financial institution specializing in funding
small and micro-capitalization companies. Under the arrangement, United Energy
issued a $1.75 million secured convertible term note with a variable rate coupon
based on the WSJ Prime Rate. The term note is convertible into equity at an
initial conversion price of $1.00 per share. Laurus Funds was also issued
warrants to purchase up to 300,000 shares of United Energy's common stock.

     United Energy's Chairman and CEO, Ron Wilen stated, "The arrangement with
Laurus Funds provides United Energy additional capital to grow through a more
aggressive international sales campaign for its current line of specialty
chemicals and possibly the acquisition of value-added operating companies
producing other environmentally-friendly chemicals. We view this transaction as
extremely positive for United Energy and our shareholders."

ABOUT UNITED ENERGY

     Headquartered in Secaucus, New Jersey, United Energy is actively engaged in
the development, manufacture and sale of environmentally friendly specialty
chemical products. United Energy's leading product is its KH-30(R)
multifunctional dispersant and its line of related products, KX-91(R) and
KH-30S(R), which have proven to be effective cleaners in oil and gas wells,
pipelines and storage tanks.

FORWARD LOOKING STATEMENTS

     Except for the historical information herein, the matters discussed in this
news release include forward-looking statements that may involve a number of
risks and uncertainties. Actual results may vary significantly based on a number
of factors, including, but not limited to, risks in product and technology
development, market acceptance of new products and continuing product demand,
the impact of competitive products and pricing, changing economic conditions,
including changes in short-term interest rates and foreign currency fluctuations
and other risk factors detailed in United Energy's most recent annual report
pursuant to the Securities Exchange Act of 1934 and other filings with the
Securities and Exchange Commission.

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