SOURCE: CNC Development Ltd.

October 29, 2009 17:57 ET

CNC Development Ltd. Announces Commencement of Trading of Its Securities; Cessation of Trading of the Securities of InterAmerican Acquisition Group Inc.

SHANGHAI, CHINA--(Marketwire - October 29, 2009) - CNC Development Ltd. ("CNC") (OTCBB: CDLVF) (OTCBB: CDLKF) (OTCBB: CDLWF), formerly known as InterAmerican Acquisition Group Inc. ("IAG") (OTCBB: IAQG) (OTCBB: IAQGW) (OTCBB: IAQGU), announced that at the market open today its securities commenced trading under the following symbols:

--  Common shares:                CDLVF
--  Class A Preferred shares:     CDLKF
--  Warrants                      CDLWF

The IAG securities have ceased trading and are being exchanged for CNC securities in accordance with the companies' proxy statement/prospectus dated as of August 7, 2009. No fractional shares will be issued to former IAG shareholders in the exchange. Holders of IAG units will receive CNC common shares, preferred shares and warrants.

About CNC

CNC, based in Shanghai, P.R.C., forms and leads consortiums to deliver comprehensive city planning and infrastructure build-outs to selected municipalities throughout China. The Company's "Build-Transfer" business model allows local governments to overcome financial and project management constraints and to quickly unlock economic development potential and property value. In addition to supporting its clients with municipal development strategies, detailed planning and fully-financed project implementation, the Company also offers municipal government leaders support in obtaining long-term replacement financing and later-phase commercialization and project marketing. CNC's principal corporate offices are located at 970 Dalian Rd, Suite 909, Shanghai 200092 P.R.C. The address of CNC's U.S. agent, WHI, Inc. is 410 South Michigan Ave., Suite 620, Chicago, IL 60605.

Additional information about CNC is available on the company's website: or in IAG's and CNC's public filings, available from the SEC website:

Safe Harbor

This press release includes forward-looking statements that involve risks and uncertainties. Forward-looking statements are statements that are not historical facts. The words "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "predict," "project," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. The parties may not actually achieve the plans, intentions or expectations disclosed in the forward-looking statements, and investors should not place undue reliance on the forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements made by the parties. CNC assumes no obligation to update the information contained in this press release.

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