World Assurance Group (WDAS.OTC) Subsidiary ANAV Holdings Corporation Focuses on Central America in Conjunction With a

NEW YORK, NY, Nov 02 (MARKET WIRE) --
World Assurance Group (PINKSHEETS: WDAS) announced today that the
Ecuadorian Government has recently announced substantial policies aimed
to increase new homebuyers in Ecuador.

New homebuyers will be allowed a $ 3,960 bonus given by the Housing
Ministry for a new house they purchase. It seeks to expand such support to
$ 5,000 for homes with a value of up to $ 60,000.

WDAS had announced on Oct 22, 2009 that its subsidiary ANAV Holdings
Corporation signed a proposal to enter into a purchase agreement for an
8.5% participating interest in a 15 hectare private housing community
located at one of the leading ports in Latin America with Premier
Developments. The project's first phase is in full production and has
already sold 20% of the 207 homes. The entire project including phase two
will be an estimated 500 home development. Currently these homes sell for
$40,000 - $80,000 price range.

Last week the Ecuadorian Ministry of Urban Development and Housing
(Housing Ministry) began a phase of the incentive program as a call to
developers, builders, housing cooperatives and system operators to
continue to combat the economic crisis and unemployment. The measures
consist of financing development projects with resources from the
International Book Freely Available (Rildo) and the cashier of the
Central Bank (ECB) which are unused. The Housing Bank and the Housing
Ministry announced. Approximately $600 million is to be earmarked for
construction based loans, $200 million may be set for the delivery of
$5,000 bonuses to those who purchase a home up to $60,000 until July
2010. In this regard, the Housing Ministry issued a call to developers
who have urban housing projects up to that value. "Developers should
approach the provincial offices in their region in order to be registered
and qualified," said the Minister of Housing Walter Solis.

This portfolio of state now gives a bonus of $ 1,500 for home
improvements, $ 5,000 for rural housing and $ 3,960 for new urban
housing. Details of the new grant will be presented in coming days. Last
week in a radio address to congress, President Rafael Correa said "the
benefits of the incentive scheme for the construction sector will put
many people to work and will create significant economic benefits as well
as affordable housing."

Jonathan B. Morgan, President of WDAS, stated, "We see these government
incentives as additional reassurance to investing in Ecuador and for our
projects in Machala and Esmeraldas will be sure to benefit by such
construction loans."

About World Assurance Group Inc (PINKSHEETS: WDAS)

World Assurance Group through its wholly owned subsidiary ANAV Holdings
Corporation intends to participate in all areas of real estate
transactions, including direct ownership, co-investment with other
institutions or developers, as well as indirect participation through the
acquisition of distressed debt and/or non-performing loans with the
eventual goal of control of the underlying assets. For more information
please visit www.anavholdings.com

About Premier Development Group

Premier Development Group is a leading Housing and Construction Company
with offices located in both Machala and Quito Ecuador and head offices in
Miami Florida. Premier is developing housing units and is currently
working in Ecuador, Mexico and Guatemala. The Nuevos Horizantes project is
currently in full production and has sold 20% of Phase One in Machala,
Ecuador. For more information please visit www.premierdevelopmentgroup.com

Forward-Looking Statements

This press release may contain certain forward-looking statements within
the meaning of Section 27A of the Securities and Exchange Act of 1933, as
amended, and Section 21E of the Securities and Exchange Act of 1934, as
amended and such Forward-Looking Statements are intended to be covered by
the safe harbors created thereby. Investors are cautioned that all
forward-looking statements involve risks and uncertainties. All statements
other than statements of historical fact in this announcement are
forward-looking statements, including but not limited to the viability of
the company's business plans, the effect of acquisitions on our
profitability, the effectiveness, profitability, and the marketability of
the Company's products; the Company's ability to protect its proprietary
information; general economic and business conditions; the volatility of
the company's operating results and financial condition; and other risks
detailed in the Company's filings with the Securities and Exchange
Commission. These forward-looking statements involve known and unknown
risks and uncertainties and are based on current expectations,
assumptions, estimates and projections about the company and the
industry. The Company undertakes no obligation to update forward-looking
statements to reflect subsequent occurring events or circumstances, or to
changes in its expectations, except as may be required by law. Although
the company believes that the expectations expressed in these
forward-looking statements are reasonable, management cannot assure the
public that their expectations will turn out to be correct, and investors
are cautioned that actual results may differ materially from the
anticipated results.

Contact:
Shelley Schonfeld
VP
Phone: (212) 613-6329
Email: info@anavholdings.com

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