SOURCE: World Assurance Group Inc.

October 20, 2009 18:26 ET

World Assurance Group (PINKSHEETS: WDAS) Subsidiary, Anav Holdings Corporation, to Purchase Into Sustainable Green Corporation

Homes Are Presently Being Built in Mexico out of a Revolutionary New Building Product That Significantly Reduces the Time and Cost of Construction

NEW YORK, NY--(Marketwire - October 20, 2009) - World Assurance Group (PINKSHEETS: WDAS) announced today that its subsidiary, Anav Holdings Corporation, has signed a proposal to purchase 15% of Sustainable Green Corporation.

WDAS intends to purchase 15% of the shares outstanding of Sustainable Green Corporation. The current development plans between WDAS and Sustainable Green plan for the building of an initial 5000 homes in Mexico. Each home has a resale value of a minimum of $16,000.00 (500 sq ft) to $60,000.00 (1600 sq ft). Sustainable Green, through its Mexican subsidiary, is currently building a track of homes for a 'Junta' or co-operative of 700 teachers consisting of an initial 120 units. Sustainable Green began building the model homes on September 26th, 2009 and expects completion of the same no later than October 30, 2009. Sustainable Green has also entered an agreement where they are provided finished lots without an upfront cost, at which time Sustainable Green, through its Mexican subsidiary, does the vertical construction. The entire process is administered by a multi-national bank, where the bank bears the recourse, in effect providing title insurance to the transaction.

Jonathan B. Morgan, President of WDAS, stated, "We are looking forward to beginning to build and develop Mexico and other areas with Sustainable Green. We believe that Mexico, Central America and South America are within our reach within 12 to 18 months. The building method and products are world class."

For more information please visit www.anavholdings.com.

About World Assurance Group Inc. (PINKSHEETS: WDAS)

World Assurance Group, through its wholly owned subsidiary ANAV Holdings Corporation, intends to participate in all areas of real estate transactions, including direct ownership, co-investment with other institutions or developers, as well as indirect participation through the acquisition of distressed debt and/or non-performing loans with the eventual goal of control of the underlying assets.

About Sustainable Green Corporation

Sustainable Green Corporation utilizes a multi-patented composite building system that utilizes Expanded Polystyrene as the core material for all structural members -- walls, roof, and floor. The material is sprayed with a composite coating made of a precise blend of sand, cement, glass fiber and other patented additives that together create a building shell that meets or exceeds all testing protocols and load requirements of the ICC-ES. (ICC-ES is the United States' leader in evaluating building products for compliance with code and is a nonprofit, public-benefit corporation, www.icc-es.org). The building system is intrinsically linked to the installation and application of a building system; it has a patented analysis program that accurately predicts the performance capability of a building utilizing any architectural design under any set of climate conditions. The system is earthquake resistant, hurricane resistant (tested to 260 MPH, rated 170 MPH), vapor proof, water proof, mold resistant, air tight and 100% recyclable. It compares favorably by price to timber, which creates more waste and has a negative impact on the environment.

Forward-Looking Statements

This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended and such Forward-Looking Statements are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to the viability of the company's business plans, the effect of acquisitions on our profitability, the effectiveness, profitability, and the marketability of the Company's products; the Company's ability to protect its proprietary information; general economic and business conditions; the volatility of the company's operating results and financial condition; and other risks detailed in the Company's filings with the Securities and Exchange Commission. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the company and the industry. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the company believes that the expectations expressed in these forward-looking statements are reasonable, management cannot assure the public that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.

Contact Information