Continental Fuels Establishes South American Subsidiary to Expand Trading Activities to South American Suppliers.

ORANJESTAD, Aruba -- Continental Fuels, Inc. (OTCBB:CFUL) (FWB:CIQB) has recently incorporated Combustibles Continental de Latinoamerica C. A., a new subsidiary established in order to exploit the many relationships that Continental has developed throughout Latin America as sources of product for its international trading activities.

Through this new subsidiary, Continental is negotiating supply contracts from various energy exporting countries, including Brazilian ethanol. In addition, the subsidiary will allow Continental to draw on significant international funding sources.

"Our contacts and negotiations in Latin America present incredible possibilities for profit and expansion," explains Continental CEO Tim Brink. "The volumes of product that are available allow us to deliver directly to our customers without ever actually taking possession. This low cost approach, coupled with the existing margins and enthusiastic investors should allow us to grow this opportunity with increasing acceleration."

With the establishment of this subsidiary, Continental has also initiated banking relationships and engaged legal representation in Latin America. Continental CEO Tim Brink and Senior Vice President of Trading and Marketing Ernesto Haberer recently returned from lengthy and successful negotiations in South America and plans are being completed for a second trip that should result in the execution of contracts.

Continental Fuels, Inc. is a subsidiary of Universal Property Development and Acquisition Corporation (OTCBB:UPDA) (FWB:UP1) (BCN:UP1) (GER:UP1) (MUN:UP1) (STU:UP1).

For further information, please visit www.continentalfuels.com.

Statements contained in this press release that are not based upon current or historical fact are forward-looking in nature. Such forward-looking statements reflect the current views of management with respect to future events and are subject to certain risks, uncertainties, and assumptions. Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, or described pursuant to similar expressions.

Note to Editors: There should be an accent mark over the "e" in "Latinoamerica" above.