SOURCE: World Assurance Group Inc.

October 28, 2009 08:15 ET

World Assurance Group (WDAS.OTC) Subsidiary ANAV Holdings Corporation Announces Development Contract on Self Storage Site

In 2008 the Self Storage Industry Had Total Sales in Excess of $20 Billion

NEW YORK, NY--(Marketwire - October 28, 2009) - World Assurance Group (PINKSHEETS: WDAS) announced today that it has completed discussions with Tech Fast for operating the development of the self storage site it intends to acquire in Tacoma, Washington. Tech Fast is an award winning national builder with over 2500 completed projects, 20 years of experience and the winner of several prestigious awards.

"To have such an experienced team of professionals working with us to build this project made it an easy decision to pursue Tech Fast as they build over 100 storage facilities a year and have won 3 facility of the year awards," stated Jonathan Morgan, President of WDAS.

"We are pleased to partner on our first of many projects with WDAS. We are very pleased with the site they have brought to us and believe it is a good time to build this facility in an underserved market. The property is located near Fort Lewis and McChord Air Force Base, both of which have transient populations which bodes well for self storage in the area," Said David Cook, CEO of Tech Fast.

The US self storage industry is comprised of more than 52,000 facilities. In 2008 the industry had total sales in excess of $20 billion (USD). The Self Storage Association (SSA) has been the official not-for-profit (IRS Code section 501-c-6) trade association representing the self storage industry and the registered lobbying organization before the United States Congress and the federal agencies. (http://www.selfstorage.org) "The Company has already begun the process of becoming a member of the SSA," stated Jonathan B. Morgan, President of WDAS.

About World Assurance Group Inc (PINKSHEETS: WDAS)

World Assurance Group through its wholly owned subsidiary ANAV Holdings Corporation intends to participate in all areas of real estate transactions, including direct ownership, co-investment with other institutions or developers, as well as indirect participation through the acquisition of distressed debt and/or non-performing loans with the eventual goal of control of the underlying assets. For more information please visit www.anavholdings.com

About Tech Fast

Tech Fast has been in the business of buildings self storage facilities for 20 years. The company has completed over 2500 projects throughout North America and Canada totaling over 33 million square feet. Tech Fast has built for Extra Space, U-Haul, Public Storage, Shurgard, Storage USA, Sovran and other independent to mid-sized operators. Tech Fast won the Minico Facility of the Year in 2004, 2006 and 2009. For more information please visit www.techfast.com

Forward-Looking Statements

This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended and such Forward Looking Statements are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to the viability of the company's business plans, the effect of acquisitions on our profitability, the effectiveness, profitability, and the marketability of the Company's products; the Company's ability to protect its proprietary information; general economic and business conditions; the volatility of the company's operating results and financial condition; and other risks detailed in the Company's filings with the Securities and Exchange Commission. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the company and the industry. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the company believes that the expectations expressed in these forward-looking statements are reasonable, management cannot assure the public that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.

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