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Commonwealth American Financial Group Commences Survey of Land Development Project in Florida.

MIAMI -- Commonwealth American Financial Group, Inc. (PINK SHEETS: CWFG) announced today that the seller has initiated the survey of the land precedent to closing. The closing is scheduled for 10th February 2006.

The parcel of land is situated in a very high growth area of North Central Florida. Upon closing the company will begin a sales and marketing campaign for the property. The company expects to sell the land for substantially more than the acquisition price in several parcels, resulting in a substantial profit to the company.

Ms. Ryals, President and CEO, said, "We are interviewing a number of local engineering firms that will be utilized for their engineering services. The engineering firm chosen will prepare the engineering documents for submission to the local county for approval. We anticipate that a firm will be contracted prior to closing so that we can immediately move forward with the development of the land."

The mission of Commonwealth American Financial Group, Inc. is to invest in land development projects either as developer, joint venture partner, or lender and create mezzanine-financing opportunities. The company will also grow by acquiring subsidiaries in related fields such as construction, real estate brokerage-appraisal-management, in Florida, Texas and Louisiana.

The Company has established a website www.cwfgroup.net and trades under the symbol (PINK SHEETS: CWFG).

FORWARD LOOKING STATEMENTS: This information includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to mange growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel as related to the industry. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances.
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Publication:Business Wire
Date:Jan 9, 2006
Words:314
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