Universal Property Development Corporation (fka UPDV)

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NEWS!
Press Release Source: Continental Fuels, Inc.

Construction and Installation of Rail Spur and Loading Station Underway at Continental Fuels' Brownsville Facility
Tuesday August 7, 6:29 am ET

PORT OF BROWNSVILLE, Texas--(BUSINESS WIRE)--Continental Fuels, Inc. (OTCBB:CFUL - News; FWB:CIQB)(GER:CIQB)(BCN:CIQB) continues the progress and preparation for construction of a new rail spur and loading station that will be utilized for delivery of light crude condensate to a new customer from its facility at the Port of Brownsville, Texas. The land has been surveyed and materials are being delivered to the construction site daily.

Source: Continental Fuels, Inc.

· Pictured in front of some of Continental Fuel's storage tanks, this first delivery of railroad ties arrived at the Port of Brownsville on August 1, 2007 (Photo: Business Wire). View Multimedia Gallery


As part of its agreement, the new customer to which deliveries will be made through this rail spur has agreed to bear the cost of construction of the spur and loading station. The customer will make payment through a construction escrow account which has been established for the purpose of this project. Although foundation work has been slightly delayed due to unforeseen heavy rains, deliveries to the new customer are still scheduled to begin during the month of August.

"This represents a significant increase in our capacity and will result in a substantial growth in sales," reports Continental CEO Tim Brink. "In addition to the cost of installation of the rail facility, this customer will be paying all of the expenses of delivery so we also expect a greater gross profit and immediate payment for every barrel of condensate we sell them."

Continental Fuels, Inc. is a subsidiary of Universal Property Development and Acquisition Corporation (OTCBB:UPDA - News; 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.

MULTIMEDIA AVAILABLE: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=5466057


Contact:

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