SOURCE: FIMA, Inc.

May 01, 2008 15:46 ET

FIMA, Inc. Expands Sphere of Operations Into the Caribbean With Acquisition of Islandwide Development Corp.

HUNTINGTON BEACH, CA--(Marketwire - May 1, 2008) - FIMA, Inc. (PINKSHEETS: FIMA), an emerging land development company incorporating resource exploration and mining, oil and gas exploration and extraction, and commercial and luxury residential real estate development in Central and South America, announced today that the Company has reached an agreement to acquire a controlling interest in Island Wide Development, Inc., a Caribbean land development group based on the island of St. Lucia. As a result of this acquisition, FIMA, through its subsidiary, Islandwide Development, will now be able to pursue additional opportunities and targets in the Caribbean.

According to a Company spokesperson, "This is an exceptional opportunity for FIMA. Through our new subsidiary, we are now in a position to take advantage of the legal and regulatory environment in the Caribbean that grants special exemptions and privileges to those companies that are based in the Caribbean. In addition, this recent acquisition is a natural extension of our current operations, and we are confident that we will be able to reduce or eliminate redundancies and enhance operation efficiency as we move into this exciting region."

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: 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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