SOURCE: World Assurance Group Inc.

November 16, 2009 08:26 ET

World Assurance Group (WDAS.OTC) Subsidiary ANAV Holdings Corporation Says Growth in Emerging Markets to Create Housing Boom

NEW YORK, NY--(Marketwire - November 16, 2009) - World Assurance Group (PINKSHEETS: WDAS) announced today that its subsidiary ANAV Holdings Corporation intends to continue to aggressively pursue new residential and commercial property opportunities along with green sustainable building products in emerging markets.

WDAS has already signed Letters of Intent with Premier Housing Development of Machala focusing on residential housing projects based in Ecuador. The Company was very impressed by the recent news that Ecuador will spend more than $900 million on housing and infrastructure projects in a bid to revive the country's economy. Ecuadorian President Rafael Correa announced these stimulus projects to begin driving the Ecuadorian economy which is focusing first on housing. Most of the money for the investments will come from $2.2 billion in international reserves that the government is repatriating from the foreign banks where the reserves are being held, Correa said in a public address two weeks ago in Quito, Ecuador.

WDAS is focusing on growth in emerging markets as it allows North America, Europe and Asia real estate to reset and restructure. With South America looking poised to continue despite a history of volatility, regions such as Central, South & Latin America, Mexico, Africa and the Middle East may become a bigger part of the WDAS picture along with certain areas in the Asia-Pacific region such as Indonesia.

Jonathan B Morgan, President of WDAS, stated, "that economic growth in emerging markets and in Ecuador in particular is set to boom based on many of these governments support for the sector and by the fact that the banks are lining up to provide financing to many lower and middle income housing projects. Developers in these regions are set for long term growth as the middle class increases and as all of these economies increase consumption and GDP. It's a sector with long term growth and opportunity."

WDAS management believes that there are further opportunities and challenges in keeping up with demand for new building products and materials. WDAS intends to aggressively pursue new products and invest in the emerging market regions. WDAS plans to bring in additional products from North America, Europe and Asia to meet any growing demand. It is critical for WDAS to win in growing markets in order to establish itself as a regional and then a global player.

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

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