SOURCE: FIMA, Inc.

August 18, 2008 08:30 ET

FIMA Breaks Ground on Latest Project in Veracruz

HUNTINGTON BEACH, CA--(Marketwire - August 18, 2008) - FIMA, Inc. (PINKSHEETS: FIMA) announced today that its subsidiary, Garcia y Garcia Concreto y Diseño Arquitectonico, has begun the initial construction phases for two residential units in the prestigious Las Playas neighborhood of Veracruz, Mexico. Several operations have already been completed, including leveling of the site and excavation for water and sewage works, and the construction has already proceeded to the foundation phase. FIMA will be posting photos of the construction at its website (www.fimadevelopmentinc.com) shortly, and will be updating these photos to allow viewers to track the progress of the development.

According to a FIMA spokesperson, "This is an exciting development for us. The Las Playas neighborhood in Veracruz is one of the most sought after in the entire city, and it is a validation of our growing presence in the region that we have been able to secure a project in this prominent neighborhood. We will be pre-selling the residential units at a discounted rate, and further details are available on our website at www.fimadevelopmentinc.com. We will be adding more detailed architectural renderings and construction photos very soon."

About FIMA, Inc.:

FIMA is engaged in a diverse range of land development and utilization activities, such as the acquisition of raw land and the design and construction of commercial and luxury real estate in the resort regions of Mexico, resource exploration and development in Central and South America, and the acquisition and development of mining properties and mining rights in Central and South America. FIMA operates several subsidiaries, including a prestigious architectural design and construction firm based in Puebla, Mexico, as well as an integrated resource exploration and mining company with holdings in the prolific gold- and silver-producing regions of Colombia. For more information, visit the Company website at: http://www.fimadevelopmentinc.com.

Safe Harbor Statement:

Except for historical information contained herein, the matters set forth above may be forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ from those in the forward-looking statements. Words such as 'anticipate,' 'believe,' 'estimate,' 'expect,' 'intend' and similar expressions, as they relate to the Company or its management, identify forward-looking statements. Such forward-looking statements are based on the current beliefs of management, as well as assumptions made by and information currently available to management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors such as the level of business and consumer spending, the amount of sales of the Company's products, the competitive environment within the industry, the ability of the Company to continue to expand its operations, the level of costs incurred in connection with the Company's expansion efforts, economic conditions in the industry and the financial strength of the Company's customers and suppliers. The Company does not undertake any obligation to update such forward-looking statements. Investors are also directed to consider all other risks and uncertainties.

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