Fuego Enterprises Does Spin Off of Cuba Business Development Group

Fuego Enterprises Does Spin Off of Cuba Business Development Group
Thu Oct 15, 2009 10:42am EDT

MIAMI, Oct. 15, 2009 (GLOBE NEWSWIRE) -- Fuego Enterprises, Inc.
(PinkSheets:FUGI) spun off on October 12, 2009 a newly incorporated shell
company to shareholders of record as of September 12, 2009. Shareholders of
record are to ultimately receive 1 share of the new company, Cuba Business
Development Group, Inc. ("CBDG"), for every two shares held in Fuego
Enterprises, Inc. Fractional shares will not be issued.

"Cuba Business Development Group Inc. was formed to take advantage of
opportunities we expect in the very near future as the U.S and Cuba
inevitably
establish more normal relations and businesses in both countries need our
expertise and resources to fully exploit new markets and assist in
commercial
and new market strategies for companies ranging from telecommunications
providers to agricultural producers," stated Hugo Cancio President & CEO of
Fuego and Chairman of CBDG. "We feel Fuego shareholders will benefit
from this
distribution by having a direct ownership in a company whose charter and
focus
is so directly centered on assisting US companies to profit from
relationships
we will assist them to develop with Cuban enterprises and to help
navigate the
legal and regulatory requirements in both countries," continued Cancio.

"The management of Cuba Business Development Group has lived in Cuba
with family
for many years and therefore has current knowledge and contacts which
will be
invaluable to our clients in their business activities. Once the US
Embargo is
lifted, travel resumes, and goods and services can be bought and sold, our
clients should be well prepared for these exciting new markets," said Ariel
Machado,VP Business Development.

CBDG plans to file a registration statement with the Securities and Exchange
Commission after it completes its business plan and audit for the year ended
October 31, 2009. The spin-off is considered tax free to the shareholders of
Fuego Enterprises, Inc. and such shareholders do not have to exchange any of
their presently held shares to effect the receipt of CBDG shares. Until such
time as CBDG determines which newly issued shares in the spin off are to
become
free trading and included in the registration statement, no shares of
CBDG will
be issued to Fuego Enterprises, Inc. shareholders of record.

CBDG's officers include Hugo Cancio as its president/CEO, Ariel Machado
as vice
president of business development, and Braverman International, P.C. as its
consulting CFO.

Fuego Enterprises Does Spin Off of Cuba Business Development Group |
Reuters (16 October 2009)
http://www.reuters.com/article/pressRelease/idUS146107+15-Oct-2009+GNW20091015