SOURCE: Andros Isle Development Corp

September 08, 2005 14:26 ET

Andros Isle Development Corp Launches Commercial Finance Group

LAS VEGAS, NV -- (MARKET WIRE) -- September 8, 2005 -- Andros Isle Development Corp (OTC: AVPJ) today announced that it is launching AIDC Commercial Finance Group, a new business that will deliver commercial mortgage brokerage services and value-added consulting services to business clients.

The new business unit will initially focus on providing financing for the acquisition and development of commercial real estate development projects. The group will be based in Miami, FL, and service the Southeastern United States as well as the Caribbean.

The new operation will be managed by Karlisle M. Williamson, Sr. Mr. Williamson, who is currently Senior Vice President and Corporate Secretary of Andros Isle Development Corp., is a 25-year veteran of the banking and commercial mortgage services industry. In his last role as Head of Commercial Lending at Starbank Financial, he was instrumental in developing the company's commercial brokerage department and turning it into a profit center. Mr. Williamson was also appointed to the Andros Isle Development Corp. Board of Directors concurrent with this new position as Director of the Commercial Finance Group.

"AIDC Commercial Finance is part of our strategy to establish a full service commercial real estate business organization," said Donald Harper, Andros Isle's President and CEO. "As we continue to build our executive team, we plan to take full advantage of our executive's expertise and develop and deliver a broad range of solutions to our clients and business partners. The addition of Karlisle Williamson, Sr. to our executive team made the Commercial Finance division a natural outgrowth for us."

"I am excited to be given the opportunity to establish the AIDC Commercial Finance business unit for Andros Isle," said Williamson. "This is a great opportunity, and I am looking forward to making it an extremely successful endeavor for Andros and its shareholders."

About Andros Isle Development Corp.

Andros Isle Development Corporation (OTC: AVPJ) is a publicly traded real estate development company that specializes in the acquisition and development of luxury resorts in the Caribbean Basin, and in converting luxury hotels into Condo Hotels, a concept that has gained popularity in many international vacation resorts.

The company's principal objective is sustainable, long-term growth in earnings through the development and re-sale of luxury resort properties.

'Safe Harbor' statement under the Private Securities Litigation Reform Act of 1995: This release contains forward-looking statements that are subject to risks and uncertainties, including, but not limited to, the impact of competitive products and pricing, product demand and market acceptance, new product development, reliance on key strategic alliances, availability of raw materials, the regulatory environment, fluctuations in operating results and other risks detailed from time to time in the company's filings with the Securities and Exchange Commission.

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