HUNTINGTON BEACH, CA--(MARKET WIRE)--Oct 24, 2008 -- FIMA, Inc. (Other OTC:FIMA.PK - News), an emerging diversified land development company, announced today that its construction and design subsidiary Garcia y Garcia Concreto y Diseño Arquitectónico has reached the final phases of construction at its residential development in the prestigious Las Palmas neighborhood of Veracruz, Mexico. The superstructure has been completed, as well as the application of stucco to all exterior surfaces. Prior to that, the electrical and plumbing facilities had been incorporated into the infrastructure. Completion and final walk-through is expected to occur by mid-November.

According to Roy Sahachaisere, Chairman and CEO of FIMA, "It has been very gratifying to watch this project progress so smoothly. We are very pleased with the speed and efficiency that our subsidiary Garcia y Garcia brought to the project that when fully complete will stand as tangible evidence of our commitment to the highest quality construction in Veracruz. Based on our positive experience in the area, we are actively exploring further construction projects in this emerging and dynamic city, and we strongly believe that there are tremendous opportunities for us to grow here."

About FIMA, Inc.:

FIMA is engaged in a diverse range of land development and utilization activities, such as the acquisition of raw land and the design and construction of commercial and luxury real estate in the resort regions of Mexico, resource exploration and development in Central and South America, and the acquisition and development of mining properties and mining rights in Central and South America. FIMA operates several subsidiaries, including a prestigious architectural design and construction firm based in Puebla, Mexico, as well as an integrated resource exploration and mining company with holdings in the prolific gold- and silver-producing regions of Colombia. For more information, visit the Company website at: http://www.fimadevelopmentinc.com.

Safe Harbor Statement:

Except for historical information contained herein, the matters set forth above may be forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ from those in the forward-looking statements. Words such as 'anticipate,' 'believe,' 'estimate,' 'expect,' 'intend' and similar expressions, as they relate to the Company or its management, identify forward-looking statements. Such forward-looking statements are based on the current beliefs of management, as well as assumptions made by and information currently available to management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors such as the level of business and consumer spending, the amount of sales of the Company's products, the competitive environment within the industry, the ability of the Company to continue to expand its operations, the level of costs incurred in connection with the Company's expansion efforts, economic conditions in the industry and the financial strength of the Company's customers and suppliers. The Company does not undertake any obligation to update such forward-looking statements. Investors are also directed to consider all other risks and uncertainties.

     Contact:
     FIMA, Inc.
     714-847-2460