MIAMI, March 9, 2004 (PRIMEZONE) -- Azur International, Inc. (OTC:AZUR.PK), a luxury recreational and residential resort development company, announces it has entered into a binding contract through its wholly owned subsidiary, Mingo Bay, to acquire a fifty-seven unit apartment complex located in the historic city of St. Augustine, Florida. The complex will be refurbished and sold as condominiums and renamed "Hidden Oaks Condominiums." St. Augustine, the oldest European-founded city in North America, is strategically located 30 miles south of Jacksonville, 30 miles north of Daytona Beach and 150 miles northeast of Orlando.
According to Vice President of Acquisitions, Girard Petitio, "We believe the quiet and secure neighborhood chosen for this project, featuring 300-year-old oak trees, is an ideal setting to house the complex. In addition to the quality of Hidden Oaks' immediate surroundings, it is only one mile from a major local hospital and conveniently located one mile from US1."
About Azur International, Inc.
Azur International, Inc., www.Azur-Int.com, develops, manages, markets and invests in luxury recreational and residential resort properties through its wholly owned subsidiary, Mingo Bay Development Corp, www.Mingo-Bay.com.
Safe Harbor
The Private Securities Litigation Reform Act of 1995 may provide a "safe harbor" for forward-looking statements. Certain information included in this press release contains statements that are forward-looking, such as statements related to the future anticipated direction of the industry, plans for future expansion, various business development activities, planned capital expenditures, future funding sources, anticipated sales growth, and potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by, or on behalf of Azur International, Inc. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, and domestic and global economic conditions.