Universal Property Development Corporation (fka UPDV)

[hoerud]

NEWS !!!

http://www.otcbb.com/asp/Info_Center.asp

July 30, 2007 - 5:29 AM EST

Rail Spur Installation at Continental Fuels' Brownsville Facility - Cost to be Borne by New Customer - Additional Storage and Delivery Methods to Result

Continental Fuels, Inc. (OTCBB:CFUL) (FWB:CNDI) (GER:CNDI) (BCN:CNDI) has entered a new agreement for the sale of 40,000 – 60,000 barrels per month of light crude condensate to be delivered via rail. As part of this agreement, this new customer has agreed to bear the cost of construction of a railroad spur and loading station at the Port of Brownsville.

The customer has also purchased 54 rail cars with a capacity of 675 barrels each. These rail cars will be stored at Continental’s facility at the Port of Brownsville, effectively increasing the storage capacity at the facility by another 36,000 barrels. Together with the storage tanks being relocated to Brownsville, Continental will have increased its capacity by over 100% upon completion of these projects within the next 3 weeks.

Work on the rail spur will be immediately commenced. It will service sixteen 60 foot rail cars and the loading station will simultaneously fill 3 at a time. Deliveries to the new customer are scheduled to begin during the month of August.

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.

Continental Fuels
Jack Baker, 561-630-2977
Corporate Communications
[e-mail]

Source: Business Wire (July 30, 2007 - 5:29 AM EST)

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