SOURCE: New Bastion Development

January 27, 2010 09:25 ET

New Bastion Development Poised to Profit From Real Estate Opportunities in Northwest Florida

New International Airport Will Attract Residential and Commercial Investment in Florida's Last Undeveloped Region

FORT LAUDERDALE, FL--(Marketwire - January 27, 2010) - New Bastion Development, Inc. ("New Bastion"), (PINKSHEETS: NWBA), a real estate development Company exploiting real estate opportunities in Northwest Florida, announces today that the Company is poised to benefit from explosive growth expected in that region due to the new International Airport scheduled to open in May of 2010.

The new international airport is being built on 4,000 acres of land donated by the St. Joe Company. This is the first international airport built in the U.S. since 9-11 and is located just minutes from Panama City Beach, recognized to be one of Florida's most pristine beach resort locations. Frommer's Travel Guide nominated this area as one of its top destinations to visit in 2010.

St. Joe has been innovative and aggressive in enhancing inherent value in this region. In an unprecedented initiative, St. Joe has put its money where its mouth is and has entered into a joint venture with Southwest Airlines, the foremost domestic discount airline, to begin service at the new airport by agreeing to cover up to $26 million in potential Southwest losses over the next 2 years. It looks as though St. Joe has many believers evidenced by the fact that quietly major real estate investments in the region have been made by successful companies such as Leucadia National and Joseph Lewis' Tavistock Group.

New Bastion has been acquiring real estate in the region for the past 3 years and has targeted many other land opportunities. The Company expects the region will soon attract visitors and potential new residents from all parts of the U.S., Canada and Europe as well as new commercial development and investments. The Company fully expects this event and other factors will result in 8 to 15 thousand new jobs being created in the area over the next decade.

Mr. Elliot Bellen, CEO of New Bastion Development, Inc., stated, "The St. Joe Company is implementing its plan to transform this relatively inaccessible region into the land of opportunity that we feel will become as desirable and popular as Orlando, South Beach or Fort Lauderdale." Mr. Bellen continues by saying, "The increased demand and exposure brought to the region should offer tremendous shareholder value with very little downside risk."

About New Bastion Development, Inc.

New Bastion ( is a development stage company that is exploiting local real estate opportunities in the Panama City Beach and Marianna, Florida area. The Company is capitalizing on the new international airport being built on 4,000 acres of land donated by the St. Joe Company. Construction of the new airport is currently three months ahead of schedule ( and is expected to be operational on May 23, 2010. It is anticipated that the new airport will create a significant number of jobs and economic opportunity in the region.

New Bastion currently maintains an inventory of real estate in the region that consists of raw acreage, commercial property, and platted lots in existing communities. It intends to acquire additional properties in the region with the intent to market and develop such properties as demand increases as a result of the growth in the region.

Forward-Looking Statements

Safe Harbor Statement under the Private securities Litigation Reform Act of 1995: The statements contained herein, which are not historical, are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements including, but not limited to, certain delays beyond the Company's control with respect to market acceptance of new technologies, products and services, delays in testing and evaluation of products and services, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.

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