Universal Property Development Corporation (fka UPDV)

[hoerud]

Continental Fuels Continues Capital Improvement Projects at Its Brownsville Storage Facility

PORT OF BROWNSVILLE, Texas, Aug 30, 2007 (BUSINESS WIRE) -- Continental Fuels, Inc. (OTCBB: CFUL) (FWB: CIQB) continues various capital improvement projects at its storage facility at the International Port of Brownsville. While this work progresses, Continental continues the steady flow of light crude condensate sales through the port.

One of the projects that is proceeding is the installation of special floating lids which have been carefully prepared to comply with the regulations of the Texas Commission on Environmental Quality (TCEQ) (http://www.tceq.state.tx.us/). Installation of these specialized lids will allow Continental to store and trade a more diverse family of products with higher Reid Vapor Pressures (RVP) and prevent the evaporation of product from the tanks.

"With these new lids, we will be able to store and trade refined product including gasoline, gasoline blends and diesel," reports Continental CEO Tim Brink. "In addition, no matter what product is in the tanks, these lids will eliminate product loss due to evaporation which will result in significant savings in the South Texas heat of Brownsville."

Construction on the rail spur also continues as anticipated. Ground and foundation work has progressed despite inclement weather and discussions with additional suppliers and customers for this expanded capacity have been productive.

"Like the floating lids, the rail spur will expand our product options as well as provide transportation flexibility and cost reductions," continued Continental CEO Tim Brink. "And we intend to continue to reinvest the expanding profits that will result from these capital improvements."

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.

SOURCE: Continental Fuels, Inc.

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


Copyright Business Wire 2007

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KEYWORD: United States
North America
Florida
Texas
INDUSTRY KEYWORD: Energy
Oil/Gas
Utilities
SUBJECT CODE: Product/Service