SOURCE: FIMA, Inc.

June 16, 2008 08:00 ET

FIMA, Inc. Announces Share Retirement

Reduces Total Outstanding Shares by Nearly 30 Percent

HUNTINGTON BEACH, CA--(Marketwire - June 16, 2008) - FIMA, Inc. (PINKSHEETS: FIMA), an emerging diversified land development company, announced today that the Company has officially retired 19.5 Million shares of Company stock. This share retirement reduces the number of outstanding shares from 65.71 Million to 45.21 Million, or 29.6%. The shares were acquired by the Company from prior management following the 2007 merger with Fishing Buddy, Incorporated. The management of FIMA, Inc. determined that it would be in the best interest of its shareholders to reduce the total number of outstanding shares rather than hold them for later resale.

According to a FIMA spokesperson, "We decided upon this course of action largely as a result of careful analysis of our ongoing operations and consideration of our needs as we move forward with our expansion plans. We became convinced that retiring such a substantial block of shares provided the greatest benefit to our shareholders, and this has always been our overriding concern. We have significantly expanded the scope of our operations and experienced recent success through some of our subsidiaries. Therefore, we hope to continue to pursue our goals without the need for additional outside financing."

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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