SOURCE: CNC Development Ltd.

December 24, 2009 08:00 ET

CNC Development Ltd. Announces Restoration of Original Trading Symbols

SHANGHAI, CHINA--(Marketwire - December 24, 2009) - CNC Development Ltd. ("CNC" or the "Company") (OTCBB: CDLVF) (OTCBB: CDLKF) (OTCBB: CDLWF) (fka InterAmerican Acquisition Group Inc.) announced today that the trading symbols for the Company's securities have been restored to their original symbols as follows:

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

In November, the Financial Industry Regulatory Authority ("FINRA") initiated a change in the symbols for the Company's securities because they incorrectly determined that the Company was out of compliance with its financial reporting requirements. CNC was in fact never out of compliance with its reporting requirements because the Company had changed its status to that of a foreign private issuer. After demonstrating to FINRA that the Company is and has continuously been in compliance with its SEC filing requirements, the trading symbols for the Company's securities have been restored to their original symbols.

About CNC

CNC, registered in the British Virgin Islands, has one operating subsidiary headquartered in Shanghai, P.R.C. that 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: http://www.cncdev.com or in IAG's and CNC's public filings, available from the SEC website: http://www.sec.gov.

Forward-looking Statements

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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