Uraniumletter INT sets $4/share price target on Uranium Energy Corp

August 26th, 2008

Dear Investor,

Marino Pieterse, editor of Uraniumletter International, issued a report on Uranium Energy Corp (AMEX: UEC) this month. He sets a �next price target� for the Company of $4/share.

Mr. Pieterse, based in Amsterdam, has been a securities analyst for 35 years. He is the editor of Uraniumletter International and Goldletter International.

In the �Investment Recommendation� section of his report, Mr. Pieterse stated:

�Based on its resource potential, and its large exploration and development databases, Uranium Energy has the potential to substantially increase its project portfolio and historic resource base, and to become one of the major uranium producers in the US. Consequently, at a market capitalization of just US$95 million, including US$15.4 million cash at hand, which includes Uranium Energy in the top-5 list of uranium companies focusing on the US, we consider the Company strongly undervalued.

Our first share price target is US$4.00.�

Feel free to give us a call at 1-866-748-1030 if you have questions about the Company.

Thank you,

Uranium Energy Corp.

_________

Investment highlights of Uranium Energy Corp:

• Near-term ISR uranium production in South Texas
• Recently received Draft Mine Permit, first draft permit to be issued in over 10 years to a publicly listed company in the U.S.
• Extensive pipeline of 34 development and advanced exploration properties in the Colorado Plateau, New Mexico, Wyoming, Arizona, and Texas 
• Technical team with demonstrated and proven record in discovering, developing and operating ISR and conventional uranium mines
• �Security of Supply� premium with focus on US uranium projects
• Ownership of strong intellectual capital - one of the largest US uranium exploration and development databases
• Attractive valuation relative to peers

For further information about Uranium Energy Corp (AMEX: UEC), please click: www.uraniumenergy.com or call 1.866.748.1030