SOURCE: Deer Valley Corporation

April 11, 2007 18:36 ET

Deer Valley Corporation Files Form 10-KSB to Report 2006 Operating Results

TAMPA, FL -- (MARKET WIRE) -- April 11, 2007 -- Deer Valley Corporation, ("Deer Valley" or the "Company") (OTCBB: DVLY), announced today that it had filed its Form 10-KSB reporting year end results for 2006. Charles G. Masters, Deer Valley's CEO, commented, "As we announced in our January 24, 2007 news release, the Company's total revenue for the year 2006 was over $65.4 million, an increase of 83.3% as compared to the prior year for our operating subsidary. For the year ending December 31, 2006, the Company's reported earnings attributable to common shareholders were depressed as the result of an accounting procedure related to a 'beneficial conversion feature' of preferred shares sold early in 2006. It is important to note that beginning January 1, 2007, the Company's reported earnings will no longer be negatively affected by this procedural expense. The accounting procedure related to this expense is described in more detail in the Company's Form 10-KSB filed this date."

About Deer Valley

Deer Valley Corporation 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 management of the Company has over 125 years of combined industry experience from various backgrounds including general management, production, sales, customer service, and finance.

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 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 undertake 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 4902 Eisenhower Blvd., Suite 185, Tampa, FL 33634.

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