CLARKSDALE, Miss., Oct. 5, 2005 (PRIMEZONE) -- Superior Development Group, Inc., (Pink Sheets:SDVG), a Mississippi-based provider of affordable housing, announced today plans to review all joint ventures and partnership opportunities in the Gulf Coast region following hurricanes Katrina and Rita's devastation. Derrick D. Neal, the president and CEO of Superior Development said, "The need for affordable housing in the area has never been more evident due to the fact that most families are now still living in hotels and FEMA-provided trailers. We welcome all partnership joint venture opportunities and new business relationships as we try to meet the overwhelming housing needs of Gulf Coast citizens." Mr. Neal went on to say, "The housing developments in our pipeline have been expanded in the aftermath of these storms, and our plans call for Superior Development to significantly increase operations. We are now evaluating the future options for the company. If your company is in the home building or construction industries and has a desire to form a business relationship with us, we would like to hear from you."
About Superior Development Group Inc.
Superior Development Group, Inc. is a publicly traded multi-faceted real estate development, construction-operative builder and sales company. The company's development efforts are focused in four major areas of the housing market: development of affordable lease-to-purchase single family residential development, development of affordable multifamily rental housing, acquisition and development of raw land for subdivision development and the acquisition and rehabilitation of existing multi-family and commercial properties. The company offers a wide variety of creative and effective solutions in the affordable housing market.
Additional information about Superior Development Group, Inc. is available online at www.superiordevelopmentgroup.com.
Safe Harbor
This press release contains or may contain forward-looking statements such as statements regarding the company's growth and profitability, growth strategy, liquidity and access to public markets, operating expense reduction and trends in the industry in which the company operates. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in the company's public filings. The company assumes no obligation to update these forward-looking statements to reflect actual results, changes in risks, uncertainties or assumptions underlying or affecting such statements, or for prospective events that may have a retroactive effect.