Saturday, July 11, 2009

Omega Announces Puerto Penasco to Receive Economic Boost With Plans of New Cruise Ship Home Port

MIAMI, July 9, 2009 (GLOBE NEWSWIRE) -- Omega Commercial Finance Corporation (Pink Sheets:OCFN) has announced that Puerto Penasco, Mexico, home of their Los Corales project, is planning to receive an economic boost through the development and construction of a cruise ship home port.

Simon Douwes, Planning and Scheduling Director for Holland America, stated, "Within the next three years Puerto Penasco will become the site for the arrival and departure of cruise ships. Plans are to make between 50 and 60 trips in the Sea of Cortez, which is commonly referred to as the 'World's Aquarium.' Departures will leave from Puerto Penasco and go to Guaymas, Loreto, La Paz and Topolobampo with a return trip back to the port of departure. Holland America is planning to have one cruise ship a week on the Sea of Cortez route as of 2011." He also stated, "The Sea of Cortez route is excellent for the company, because in only seven days they can go to six Mexican ports, which will provide a myriad of attractions."

Epifanio Salido Pavlovich, Coordinator of the Commission for the Development of Tourist of the State Government (Mexico), stated, "Initially there will be a 14-day route that will depart from San Diego, California and will travel to Puerto Penasco, then Guaymas, and the tour will conclude in the port of embarkation. Additionally, representatives of Holland America and Carnival Corporation recently visited the area of Sandy Beach, where they intend to locate the cruise ship terminal in Puerto Penasco. An assessment on the technical feasibility of building the wharf in this area of Rocky Point, Mexico was conducted with good results. Possible attractions in the area that could be provided to cruise ship customers were analyzed within the plans to set up the Home Port."

The Government of Sonora, the Florida and Caribbean Cruise Association (FCCA), and the Coordination General of Ports and Merchant Marine, a body belonging to the Department of Communications and Transportation (SCT), have already entered into negotiations to make this project come true.

As previously announced, Omega, in conjunction with BBB Developments Mexico, has recently completed Phase I of "Los Corales," a 298 unit high-rise hotel/condo beach resort located on prime beachfront property. The resort will boast full-scale amenities including luxurious landscaping, pools, Jacuzzi's, spas, a beach club, restaurants, a private beach and private pier leading into the ocean. The resort will be comprised of both condos and a hotel meeting the demands of individuals looking to retire, have a second home, or come for a short term stay. Los Corales is located in Puerto Penasco, a majestic beach resort community located on the Pacific side of Mexico on the Sea of Cortez and found in the same geographical region as Cabo San Lucas.

For more information on Puerto Penasco, Mexico and the Los Corales project, please go to: www.loscoralesmexico.com

Safe Harbor

This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of Omega Commercial Finance Corp., its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond Omega Commercial Finance Corp.'s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in Omega Commercial Finance Corp. filings with the Securities and Exchange Commission.

CONTACT:
Omega Commercial Finance Corporate
Investor Relations Dept.
Joseph Vazquez
(305) 728-5350
jvazquez@ocfncorp.com

Source: Omega Commercial Finance Corporation

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