SOURCE: Deer Valley Corporation

November 29, 2007 13:59 ET

Deer Valley Corporation Begins Deliveries of Additional Disaster Relief Cottages Under the Recently Announced $7,185,000 Contract Extension With the State of Mississippi

TAMPA, FL--(Marketwire - November 29, 2007) - Deer Valley Corporation, ("Deer Valley" or the "Company") (OTCBB: DVLY), announced today that production and delivery has begun on the first 100 two-bedroom cottages to be supplied to the State of Mississippi in accordance with the terms of the Company's recently announced contract extension. As with the production run completed during the third quarter of 2007, these cottages are being supplied as part of a federally funded pilot program that is designed to test and evaluate future disaster housing units. All 100 units are expected to be delivered during the fourth quarter of 2007. Subject to timely receipt of a further notice to proceed, fifty additional units are scheduled for delivery during the first quarter of 2008 to complete the requirements of the extended contract. The combined shipments of all 150 units will result in a contribution to revenue of $4,790,000 in the Fourth Quarter of 2007 and $2,395,000 in the First Quarter of 2008.

About Deer Valley

Deer Valley is a growth-oriented manufactured home builder with headquarters in Tampa, Florida and operations in Guin and Sulligent, Alabama. The Company is dedicated to offering high quality homes that are delivered with a sense of warmth, friendliness, and personal pride. The Company is relatively young, but the management team has over 250 years of combined industry experience from various backgrounds including general management, production, sales, customer service, and finance. The Company's plants are operating on a five days per week, single shift schedule. The Company has no idle facilities.

Forward-Looking-Statement: Except for factual statements made herein, the information contained in this press release consists of forward-looking statements that involve risks and uncertainties, including the effect of changing economic conditions, competition within the manufactured home industry, customer acceptance of products, fulfillment of contracts with key customers, and other risks and uncertainties. Such forward-looking statements are not guarantees of performance, and Deer Valley's results could differ materially from those contained in such statements. You can generally identify forward-looking statements through words and phrases such as "forecast", "seek", "anticipate", "believe", "estimate", "expect", "intend", "plan", "budget", "project", "may be", "may continue", "may likely result", and similar expressions. Such forward-looking statements speak only as of the date of this release, and Deer Valley undertakes no obligation to publicly update any forward-looking statements to reflect new information, events or circumstances after the date of this release.

The corporate offices of Deer Valley are located at 4218 West Linebaugh Avenue, Tampa, FL 33624.

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