Early Bird Special (EBS)

[db7]

Commonwealth American Financial Announces Final Joint Venture Negotiations
Wednesday September 21, 9:17 am ET


ST. PETERSBURG, Fla.--(BUSINESS WIRE)--Sept. 21, 2005--Commonwealth American Financial Group, Inc. (Pink Sheets:CWMF - News) announces that it is partnering with two demolition and environmental rehabilitation contractors to bid on rehabilitation work in the New Orleans, Biloxi Hurricane affected areas. The Joint Venture negotiations are being finalized between Hawkesbury River Funding of Texas, a wholly owned subsidiary of Commonwealth American Financial, and two existing corporations from the Texas and Kentucky regions. Both companies have extensive experience with demolition and environmental rehabilitation, and have existing materials and equipment established in the affected areas.
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While 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 opportunities that are presenting themselves are such that companies like Architects, engineering companies, and debris removal companies need partners to fund their work which will be paid by either FEMA or private insurance carriers.

Damian Guthrie, president of Commonwealth American Financial Group, Inc. said: "Whilst it is early days in the clean up effort much work is yet to be carried out in the regions affected. Commonwealth American Financial is looking to establish a satellite office in the next few weeks in the New Orleans area to utilize as our communication point for contract negotiations and project management offices to enhance our presence."

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 http://www.cwmf.net and trades under the symbol (Pink Sheets:CWMF - News).

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 that may arise after the date of this issue.



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Contact:
Commonwealth American Financial Group., St. Petersburg
Damian Guthrie, 786-246-1077
Fax: [phone]



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Source: Commonwealth American Financial Group, Inc.