CNC Development Ltd. Announces Commencement of Trading of Its Securities; Cessation of Trading of the Securities of

SHANGHAI, CHINA, Oct 29 (MARKET WIRE) --
CNC Development Ltd. ("CNC") (OTCBB: CDLVF) (OTCBB: CDLKF) (OTCBB:
CDLWF), formerly known as InterAmerican Acquisition Group Inc. ("IAG")
(OTCBB: IAQG) (OTCBB: IAQGW) (OTCBB: IAQGU), announced that at the market
open today its securities commenced trading under the following symbols:

-- Common shares: CDLVF
-- Class A Preferred shares: CDLKF
-- Warrants CDLWF

The IAG securities have ceased trading and are being exchanged for CNC
securities in accordance with the companies' proxy statement/prospectus
dated as of August 7, 2009. No fractional shares will be issued to former
IAG shareholders in the exchange. Holders of IAG units will receive CNC
common shares, preferred shares and warrants.

About CNC

CNC, based in Shanghai, P.R.C., forms and leads consortiums to deliver
comprehensive city planning and infrastructure build-outs to selected
municipalities throughout China. The Company's "Build-Transfer" business
model allows local governments to overcome financial and project
management constraints and to quickly unlock economic development
potential and property value. In addition to supporting its clients with
municipal development strategies, detailed planning and fully-financed
project implementation, the Company also offers municipal government
leaders support in obtaining long-term replacement financing and
later-phase commercialization and project marketing. CNC's principal
corporate offices are located at 970 Dalian Rd, Suite 909, Shanghai
200092 P.R.C. The address of CNC's U.S. agent, WHI, Inc. is 410 South
Michigan Ave., Suite 620, Chicago, IL 60605.

Additional information about CNC is available on the company's website:
http://www.cncdev.com or in IAG's and CNC's public filings, available from
the SEC website: http://www.sec.gov.

Safe Harbor

This press release includes forward-looking statements that involve risks
and uncertainties. Forward-looking statements are statements that are not
historical facts. The words "anticipate," "believe," "estimate," "expect,"
"intend," "may," "plan," "predict," "project," "will," "would" and similar
expressions are intended to identify forward-looking statements, although
not all forward-looking statements contain these identifying words. The
parties may not actually achieve the plans, intentions or expectations
disclosed in the forward-looking statements, and investors should not
place undue reliance on the forward-looking statements. Actual results or
events could differ materially from the plans, intentions and expectations
disclosed in the forward-looking statements made by the parties. CNC
assumes no obligation to update the information contained in this press
release.

Company Contact:
Mr. William C. Morro
CEO
CNC Development Ltd.
Phone: +1-312-957-4172
Email: wmorro@interamerican-group.com
www.cncdev.com

Investor Relations Contact:
Mr. Crocker Coulson
President
CCG Investor Relations
Phone: +1-646-213-1915 (NY Office)
Email: crocker.coulson@ccgir.com

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