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underagerate 

Father: Your mother only left me two sausages.

Mother: Don't underagerate! I left you at least six.
underagerate by YubaW June 18, 2010

underaggerate 

To exaggerate negativly a quantity for the purpose of self promotion.
John : My car does 0-60 in only 5 seconds!
Johns friend : Don't underaggerate its more like 12.
underaggerate by Owen Cox September 8, 2008

Underaggeration

The opposite of "over exaggerate".

To claim something is a lot less/smaller than it really is.

Can also be used in the forms "Underaggerating" and "Underaggerate"
Kathryn: How much do you get paid?

Darren: GYFNO

Kathryn: Come on, tell me. You know I'll find out anyway.

Darren: If you must know, $70,000 per year

Kathryn: That's the worst case of underaggeration I've ever heard!
Underaggeration by The Noam Gnome August 27, 2011