| x  | ANNUAL      REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF      1934 |
|---------|------------------------------------------------------------------------------------------|

| o  | TRANSITION      REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF      1934 |
|---------|----------------------------------------------------------------------------------------------|

|  UNITED      CAPITAL CORP.                                     |
|---------------------------------------------------------------------|
|  (Exact      name of registrant as specified in its charter)   |
|                                                                |   |
| Delaware                                                            | 04-2294493 |
| (State      or other jurisdiction of incorporation or organization) | (I.R.S.      employer identification no.) |
|                                                                |   |
| 9      Park Place, Great Neck, New York                             | 11021 |
| (Address      of principal executive offices)                       | (Zip      code) |

| Title of Each Class               | Name of Each Exchange on Which      Registered |
|-----------------------------------|------------------------------------------------|
| Common      Stock, $.10 par value | American      Stock Exchange                   |

----

| ITEM      10. | DIRECTORS,      EXECUTIVE OFFICERS AND CORPORATEGOVERNANCE |
|---------------|------------------------------------------------------------|

| Name                      | Principal      Occupation                                         | Age    |
|---------------------------|-------------------------------------------------------------------|--------|
|                      |                                                              |   |
| A.F.      Petrocelli      | Chairman      of the Board, President and Chief Executive Officer | 64     |
|                      |                                                              |   |
| Michael      T. Lamoretti | Vice      President – Real Estate Operations                | 40     |
|                      |                                                              |   |
| Howard      M. Lorber *   | President      and Chief Executive Officer of Vector Group Ltd.   | 59     |
|                      |                                                              |   |
| Robert      M. Mann *     | Private      Investor – Apparel Industry                    | 66     |
|                      |                                                              |   |
| Anthony      J. Miceli    | Vice      President, Chief Financial Officer and Secretary        | 45     |
|                      |                                                              |   |
| Arnold      S. Penner *   | Self-employed      real estate investor and broker                | 71     |
|                      |                                                              |   |
| Michael      J. Weinbaum  | Vice      President – Real Estate Operations                | 41     |

| * | Independent      Director under rules established by the American Stock      Exchange.  The Company is a “Controlled” company under such      rules in that Mr. Petrocelli owns more than 50% of the outstanding Common      Stock of the Company. |
|---|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| ITEM      11. | EXECUTIVE      COMPENSATION |
|---------------|-----------------------------|

|   | • | Setting      levels of compensation designed to attract and retain superior executives      in a highly competitive businessenvironment; |
|--------|---------|------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | Providing      incentive compensation that varies directly with the Company’s financial      performance and the impact of individual initiative and achievement on      such financial performance; |
|--------|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | Linking      compensation to elements which effect the Company’s annual and long-term      performance; |
|--------|---------|---------------------------------------------------------------------------------------------------------------|

|   | • | Evaluating      the competitiveness of executive compensation programs based upon      information drawn from a variety of sources;and |
|--------|---------|----------------------------------------------------------------------------------------------------------------------------------------|

|   | • | Establishing      salary levels and bonuses intended to be consistent with competitive      practice and level of responsibility, with salary increases and bonuses      reflecting competitive trends, the overall financial performance of the      Company, the performance of the individual executive and the contractual      arrangements that may be in effect with the individual      executive. |
|--------|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

----

| Name      and Principal Position                                                      |   | Year   |           |   | Salary |   |                 | Bonus  |   |   | All      Other Compensation (1) |   |   | Total      (2) |         |
|---------------------------------------------------------------------------------------|--------|--------|----------------|--------|--------|--------|----------------------|--------|--------|--------|---------------------------------|--------|--------|----------------|--------------|
|                                                                                  |   |   |           |   |   |   |                 |   |   |   |                            |   |   |           |         |
| A.F.      PetrocelliChairman of the Board, President      and Chief Executive Officer |   |   | 2007 2006 |   |   | $      | 800,000      800,000 |   |   | $      | 750,000 750,000            |   |   | $              | 77,88974,597 |   | $ | 1,627,8891,624,597 |
|                                                                                  |   |   |           |   |   |   |                 |   |   |   |                            |   |   |           |         |   |   |   |   |   |
| Michael      T. LamorettiVice President – Real Estate      Operations           |   |   | 20072006       |   |   |   | 235,000225,000       |   |   |   | 140,000110,000                  |   |   |           | 53,51051,178 |   |   | 428,510386,178 |
|                                                                                  |   |   |           |   |   |   |                 |   |   |   |                            |   |   |           |         |   |   |   |   |   |
| Anthony      J. MiceliVice President and Chief      Financial Officer                 |   |   | 20072006       |   |   |   | 260,000250,000       |   |   |   | 140,000130,000                  |   |   |           | 18,12614,774 |   |   | 418,126394,774 |
|                                                                                  |   |   |           |   |   |   |                 |   |   |   |                            |   |   |           |         |   |   |   |   |   |
| Michael      J. WeinbaumVice President – Real Estate      Operations            |   |   | 20072006       |   |   |   | 235,000225,000       |   |   |   | 140,000110,000                  |   |   |           | 57,34854,117 |   |   | 432,348389,117 |

| (1) | This      column includes the total amount of all perquisites paid by the Company      during 2007 and 2006 for our NEOs.  These amounts include the      following (individually greater than $25,000 or 10% of the total amount of      the perquisites received):  (1) total automobile lease payments      made by the Company of $38,688, $14,360, $16,998 and $12,902 in 2007 and      $35,672, $12,570, $13,431 and $13,448 in 2006 for Messrs. Petrocelli,      Lamoretti, Miceli and Weinbaum, respectively; and (2) club membership dues      of $39,201, $36,417 and $41,238 in 2007 and $38,925, $35,045 and $37,106      in 2006 for Messrs. Petrocelli, Lamoretti and Weinbaum,      respectively.  In addition, the Company has a proportionate      interest in a corporate aircraft that is available for use by the      executive officers of the Company.  The total cost of the      proportionate interest in the corporate aircraft was approximately      $329,000 and $382,000 during 2007 and 2006,  respectively. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | The      values in this table were determined using the aggregate incremental cost      to the Company and could differ substantially from those used for income      tax purposes. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| Option      Awards                                                                                                                                                                                                                                                                                                                                           |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                                                                                                                                                                                                         |   | Number      of Securities Underlying |   |   | Option |   | Option |
|                                                                                                                                                                                                                                                                                                                                                         |   | Unexercised      Options |   |   | Exercise |   | Expiration |
| Name                                                                                                                                                                                                                                                                                                                                                         |   | Exercisable |   |   | Unexercisable |   |   | Price |   | Date |
|                                                                                                                                                                                                                                                                                                                                                         |   |   |   |   |   |   |   |   |   |   |
| A.F.      Petrocelli                                                                |   |   | 600,000 |   |   |   | — |   |   | $ | 11.44 |   | 6/09/2008 |
|                                                                                                                                                                                                                                                                                                                                                         |   |   | 600,000 |   |   |   | — |   |   |   | 7.03 |   | 7/14/2009 |
|                                                                                                                                                                                                                                                                                                                                                         |   |   | 600,000 |   |   |   | — |   |   |   | 6.53 |   | 6/07/2010 |
|                                                                                                                                                                                                                                                                                                                                                         |   |   | 600,000 |   |   |   | — |   |   |   | 11.93 |   | 6/12/2011 |
|                                                                                                                                                                                                                                                                                                                                                         |   |   | 600,000 |   |   |   | — |   |   |   | 12.20 |   | 6/11/2012 |
|                                                                                                                                                                                                                                                                                                                                                         |   |   | 454,000 |   |   |   | — |   |   |   | 21.80 |   | 6/10/2013 |
|                                                                                                                                                                                                                                                                                                                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Michael      T.      Lamoretti                                                      |   |   | 42,000 |   |   |   | — |   |   | $ | 11.44 |   | 6/09/2008 |
|                                                                                                                                                                                                                                                                                                                                                         |   |   | 60,000 |   |   |   | — |   |   |   | 7.03 |   | 7/14/2009 |
|                                                                                                                                                                                                                                                                                                                                                         |   |   | 66,000 |   |   |   | — |   |   |   | 11.93 |   | 6/12/2011 |
|                                                                                                                                                                                                                                                                                                                                                         |   |   | 66,000 |   |   |   | — |   |   |   | 12.20 |   | 6/11/2012 |
|                                                                                                                                                                                                                                                                                                                                                         |   |   | 68,000 |   |   |   | — |   |   |   | 21.80 |   | 6/10/2013 |
|                                                                                                                                                                                                                                                                                                                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Anthony      J.      Miceli                                                         |   |   | 4,000 |   |   |   | — |   |   | $ | 12.58 |   | 6/09/2008 |
|                                                                                                                                                                                                                                                                                                                                                         |   |   | 56,000 |   |   |   | — |   |   |   | 11.44 |   | 6/09/2008 |
|                                                                                                                                                                                                                                                                                                                                                         |   |   | 66,000 |   |   |   | — |   |   |   | 11.93 |   | 6/12/2011 |
|                                                                                                                                                                                                                                                                                                                                                         |   |   | 66,000 |   |   |   | — |   |   |   | 12.20 |   | 6/11/2012 |
|                                                                                                                                                                                                                                                                                                                                                         |   |   | 68,000 |   |   |   | — |   |   |   | 21.80 |   | 6/10/2013 |
|                                                                                                                                                                                                                                                                                                                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Michael      J.      Weinbaum                                                       |   |   | 18,000 |   |   |   | — |   |   | $ | 12.58 |   | 6/09/2008 |
|                                                                                                                                                                                                                                                                                                                                                         |   |   | 42,000 |   |   |   | — |   |   |   | 11.44 |   | 6/09/2008 |
|                                                                                                                                                                                                                                                                                                                                                         |   |   | 60,000 |   |   |   | — |   |   |   | 7.03 |   | 7/14/2009 |
|                                                                                                                                                                                                                                                                                                                                                         |   |   | 20,000 |   |   |   | — |   |   |   | 6.53 |   | 6/07/2010 |
|                                                                                                                                                                                                                                                                                                                                                         |   |   | 66,000 |   |   |   | — |   |   |   | 11.93 |   | 6/12/2011 |
|                                                                                                                                                                                                                                                                                                                                                         |   |   | 66,000 |   |   |   | — |   |   |   | 12.20 |   | 6/11/2012 |
|                                                                                                                                                                                                                                                                                                                                                         |   |   | 68,000 |   |   |   | — |   |   |   | 21.80 |   | 6/10/2013 |

----

| Name                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   | Fees      Earned or Paid in Cash |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------------------------|--------|
| Howard      M.      Lorber                                                                                                                     |   | $                                | 12,500 |   |
| Robert      M.      Mann                                                                                                                       |   |                             | 10,500 |   |
| Arnold      S.      Penner                                                                                                                     |   |                             | 12,500 |   |

| ITEM      12. | SECURITY      OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED      STOCKHOLDER MATTERS |
|---------------|----------------------------------------------------------------------------------------------------------|

| Name      and Address of Beneficial Owner                             |   | Shares      Beneficially Owned |       | Percentage      of Class (9) |
|-----------------------------------------------------------------------|--------|--------------------------------|------------|------------------------------|
|                                                                  |   |                           |       |                         |   |   |
| A.F.      Petrocelli9      Park PlaceGreat      Neck, NY 11021        |   |                           | 8,969,448  | (1)(2)                       |   |   | 76.5 | % |
|                                                                  |   |                           |       |                         |   |   |   |   |
| Beverly      Petrocellic/o      9 Park PlaceGreat      Neck, NY 11021 |   |                           | 8,969,448  | (2)                          |   |   | 76.5 | % |
|                                                                  |   |                           |       |                         |   |   |   |   |
| Anthony      J. Miceli                                                |   |                           | 263,900    | (3)                          |   |   | 3.1 | % |
|                                                                  |   |                           |       |                         |   |   |   |   |
| Michael      T. Lamoretti                                             |   |                           | 302,000    | (4)                          |   |   | 3.5 | % |
|                                                                  |   |                           |       |                         |   |   |   |   |
| Michael      J. Weinbaum                                              |   |                           | 346,036    | (5)                          |   |   | 4.0 | % |
|                                                                  |   |                           |       |                         |   |   |   |   |
| Howard      M. Lorber                                                 |   |                           | 218,000    | (6)                          |   |   | 2.6 | % |
|                                                                  |   |                           |       |                         |   |   |   |   |
| Robert      M. Mann                                                   |   |                           | 101,400    | (7)                          |   |   | 1.2 | % |
|                                                                  |   |                           |       |                         |   |   |   |   |
| Arnold      S. Penner                                                 |   |                           | 118,000    | (8)                          |   |   | 1.4 | % |
|                                                                  |   |                           |       |                         |   |   |   |   |
| All      executive officers and directors as a group (7 persons)      |   |                           | 10,318,784 | (1)(3)(4)(5)(6)(7)(8)(9)     |   |   | 79.6 | % |

|   | (1) | Mr.      Petrocelli owns directly 4,515,448 shares of Common Stock and presently      exercisable options to purchase 3,454,000 shares of Common      Stock.  Also includes 1,000,000 shares held by Mrs. Petrocelli,      the wife of Mr. Petrocelli.  Such shares may be deemed to be      beneficially owned by Mr. Petrocelli.  Does not include shares      held by the adult children or grandchildren of Mr.      Petrocelli.  Mr. Petrocelli disclaims beneficial ownership of      the shares held by his wife, adult children and    grandchildren. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (2) | Mrs.      Petrocelli is the wife of Mr. Petrocelli.  Includes 1,000,000      shares of Common Stock held by Mrs. Petrocelli, 7,969,448 shares held by      Mr. Petrocelli (which includes presently exercisable options to purchase      3,454,000 shares of Common Stock).  Such shares may be deemed to      be beneficially owned by Mrs. Petrocelli.  Mrs. Petrocelli      disclaims beneficial ownership of all shares held by Mr.      Petrocelli.  Does not include shares held by the adult children      or grandchildren of Mrs. Petrocelli.  Mrs. Petrocelli disclaims      beneficial ownership of the shares held by her adult children and      grandchildren. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (3) | Consists      of 3,900 shares of Common Stock and presently exercisable options to      purchase 260,000 shares of CommonStock. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------|

|   | (4) | Consists      of presently exercisable options to purchase 302,000 shares of Common      Stock.  Does not include 363,600 shares held in trust (with the      wife of Mr. Lamoretti serving as trustee) for the benefit of the minor      children of Mr. Lamoretti.  Mr. Lamoretti disclaims beneficial      ownership of the shares held in trust for his  children. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (5) | Consists      of 6,036 shares of Common Stock held by Mr. Weinbaum and presently      exercisable options to purchase 340,000 shares of Common      Stock.  Does not include 363,600 shares held in trust (with the      wife of Mr. Weinbaum serving as trustee) for the benefit of the minor      children of Mr. Weinbaum.  Mr. Weinbaum disclaims beneficial      ownership of the shares held in trust for his  children. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (6) | Includes      100,000 shares owned by Lorber Alpha II, L.P. (an entity in which Mr.      Lorber may be deemed to be a control person).  Mr. Lorber      disclaims beneficial ownership of all shares owned Lorber Alpha II,      L.P.  Also includes presently exercisable options to purchase      118,000 shares of Common Stock. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (7) | Consists      of 1,400 shares of Common Stock and presently exercisable options to      purchase 100,000 shares of CommonStock. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------|

|   | (8) | Consists      of presently exercisable options to purchase 118,000 shares of Common      Stock. |
|--------|-----|-------------------------------------------------------------------------------------------------|

|   | (9) | Includes      the shares of Common Stock subject to options which are presently      exercisable and held by directors and executive officers as a group for      purposes of calculating the respective percentages of Common Stock owned      by such individuals or by the executive officers and directors as a      group. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ITEM      13. | CERTAIN      RELATIONSHIPS, RELATED TRANSACTIONS AND DIRECTOR    INDEPENDENCE |
|---------------|-------------------------------------------------------------------------------|

----

| ITEM      14. | PRINCIPAL      ACCOUNTANT FEES AND SERVICES |
|---------------|---------------------------------------------|

|   | (a) | Previous      Independent Accountants |
|--------|-----|---------------------------------------|

|   | (i) | On      November 13, 2007, the Company retained Holtz as its independent certified      public accountants in place of GGK, who were dismissed as independent      auditors of the Company effective November 13,  2007. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | The      reports of GGK on the Company’s financial statements for the past two      fiscal years did not contain an adverse opinion or a disclaimer of opinion      and were not qualified or modified as to uncertainty, audit scope, or      accounting principles. |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | The      decision to change accountants was approved by the Audit Committee of the      Board of Directors. |
|--------|-------|-------------------------------------------------------------------------------------------------------------|

|   | (iv) | In      connection with the audits of the Company’s financial statements for each      of the two most recent fiscal years ended December 31, 2006 and through      November 13, 2007, there were no disagreements with GGK on any matter of      accounting principles or practices, financial statement disclosure, or      auditing scope and procedure which, if not resolved to the satisfaction of      GGK, would have caused it to make reference to the matter in their      report. |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (v) | There      were no “reportable events” as that term is described in Item 304 (a) (1)      (v) of Regulation S-K. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------|

|   | (vi) | The      Company requested GGK to furnish a letter addressed to the Securities and      Exchange Commission stating whether it agrees with the above      statements.  A copy of that letter, dated November 14, 2007, was      filed as Exhibit 16 on Form 8-K dated November 13,    2007. |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | New      Independent Accountants |
|--------|-----|----------------------------------|

|   | (i) | The      Company engaged Holtz as its new independent accountants effective      November 13, 2007.  During the two most recent fiscal years and      through November 13, 2007, the Company has not consulted with Holtz      concerning the Company’s financial statements, including the application      of accounting principles to a specified transaction (proposed or      completed) or the type of audit opinion that might be rendered on the      Company’s financial statements or any matter that was either the subject      of a “disagreement” or “reportable event” (as such terms are defined in      Item 304 of Regulation S-K) with the previous independent      accountants. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   | 2007   |    |   | 2006    |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|---------|--------|---------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   | Holtz  |    |   | GGK/RSM |   |   | GGK/RSM |   |
| Audit      Fees                                                                                                    |   | $      | 76,000  |   |    | $      | 25,000 |   |   | $ | 93,000 |   |
| Audit      Related      Fees                                                                                       |   |   | 25,000  |   |    |   | 16,000 |   |   |   | 22,000 |   |
| Tax      Fees                                                                                                      |   |   | 95,000  |   |    |   | 5,000 |   |   |   | 124,000 |   |
| All      Other      Fees                                                                                           |   |   | — |   |    |   | — |   |   |   | — |   |

| ITEM      15. | EXHIBITS      AND FINANCIAL STATEMENT SCHEDULES |
|---------------|-------------------------------------------------|

| (a) | (1) | Consolidated Financial Statements.  The      required Financial Statements were previously filed on this      Form 10-K. |
|-----|-----|---------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 3.1    | Amended      and Restated Certificate of Incorporation of the Company (incorporated by      reference to exhibit 3.1 filed with the Company’s report on Form 10-K for      the fiscal year ended December 31, 1993).                   |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |                                                                                                                                                                                                                                         |
|   | 3.2    | Amendment      to the Amended and Restated Certificate of Incorporation of the Company      (incorporated by reference to Exhibit 3.2 filed with the Company’s report      on Form 10-K for the fiscal year ended December 31,  2003). |
|   |   |                                                                                                                                                                                                                                         |
|   | 3.3    | By-laws      of the Company (incorporated by reference to exhibit 3.2 filed with the      Company’s report on Form 8-K dated April 14,  2005).                                                                                         |

----

|   | 10.1   | Incentive      and Non-Qualified Stock Option Plan of the Company, as amended      (incorporated by reference to exhibit 10.1 filed with the Company’s report      on Form 10-K for the fiscal year ended December 31,  2000).                                                    |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |                                                                                                                                                                                                                                                                                    |
|   | 10.2   | Additional      amendment to Incentive and Non-Qualified Stock Option Plan of the Company      (incorporated by reference to exhibit 4.2 filed with the Company’s report      on Form S-8 dated August 23, 2002).                                                                 |
|   |   |                                                                                                                                                                                                                                                                                    |
|   | 10.3   | 1988      Joint Incentive and Non-Qualified Stock Option Plan, as amended      (incorporated by reference to exhibit 10.2 filed with the Company’s report      on Form 10-K for the fiscal year ended December 31,  1998).                                                        |
|   |   |                                                                                                                                                                                                                                                                                    |
|   | 10.4   | Amended      and Restated Employment Agreement dated as of November 17, 2003 by and      between the Company and A. F. Petrocelli (incorporated by reference to      exhibit 10.4 filed with the Company’s report on Form 10-K for the fiscal      year ended December 31, 2003). |
|   |   |                                                                                                                                                                                                                                                                                    |
|   | 14.    | Code      of Business Conduct and Ethics (incorporated by reference to exhibit 14      filed with the Company’s report on Form 10-Q for the quarter ended June      30, 2006).                                                                                                    |
|   |   |                                                                                                                                                                                                                                                                                    |
| **     | 21.    | Subsidiaries      of the Company.                                                                                                                                                                                                                                                       |
|   |   |                                                                                                                                                                                                                                                                                    |
| **     | 23.1   | Consent      of Independent Registered Public Accounting Firm – Holtz Rubenstein      Reminick LLP.                                                                                                                                                                               |
|   |   |                                                                                                                                                                                                                                                                                    |
| **     | 23.2   | Consent      of Independent Registered Public Accounting Firm – Goldstein Golub Kessler      LLP.                                                                                                                                                                                 |
|   |   |                                                                                                                                                                                                                                                                                    |
| *      | 31.1   | Certification      of the Chief Executive Officer pursuant to Rule 13a-15(e) and      15d-15(e).                                                                                                                                                                                        |
|   |   |                                                                                                                                                                                                                                                                                    |
| *      | 31.2   | Certification      of the Chief Financial Officer pursuant to Rule 13a-15(e) and      15d-15(e).                                                                                                                                                                                        |
|   |   |                                                                                                                                                                                                                                                                                    |
| *      | 32.1   | Certification      of the Chief Executive Officer pursuant to 18 U.S.C. Section 1350 as      adopted pursuant to Section 906 of the Sarbanes-Oxley Act of      2002.                                                                                                                    |
|   |   |                                                                                                                                                                                                                                                                                    |
| *      | 32.2   | Certification      of the Chief Financial Officer pursuant to 18 U.S.C. Section 1350 as      adopted pursuant to Section 906 of the Sarbanes-Oxley Act of      2002.                                                                                                                    |

| * | Filed      herewith |
|---|---------------------|

| ** | Previously      filed on the Company’s Report on Form 10-K for the fiscal year ended      December 31, 2007. |
|----|------------------------------------------------------------------------------------------------------------------------------|

|   | UNITED      CAPITAL CORP. |
|--------|---------------------------|
|   |                      |
|   | By:                       | /s/ Anthony J.  Miceli |
|   |                      | Anthony      J. Miceli, Vice Presidentand      Chief Financial Officer |

----