CLARKSDALE, Miss., March 29, 2007 (PRIME NEWSWIRE) -- Superior Development Group, Inc. (Pink Sheets:SDVG), a residential real estate development company announced today that due to the overwhelming response that it has received for its Lease Purchase Program, aimed to curtail the fallout in the subprime lending market announced by the Company on March 21, 2007, it will create a Lease Purchase Mortgage subsidiary to further implement the program and work directly with mortgage brokers and realtors nationwide who are interested in the Lease Purchase Program.
Derrick D. Neal, President and CEO of Superior Development commented that, "As we continue to see the fallout in the subprime lending market, which has a direct affect on the housing market that has effects on home builders to first-time home buyers and existing home sellers, we continue to believe that the Lease Purchase method of purchasing a home is set to become a major force in the real estate market place." Mr. Neal also said that, "The mortgage company should be up and running within the next ninety days after an experienced management team is in place."
Additional information about Superior Development Group, Inc. is available online at http://www.superiordevelopmentgroup.com
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