Homecrete Homes Sales Grow In Down Market

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High Performance Homes Sought from Stuart Florida-based Homebuilder

Homecrete Homes (http://www.homecretehomes.com), one of the nation's leading insulated concrete form (ICF) home builders, announced today that its revenue has increased 309% during the months of May, June and July this year versus last and the Company has several additional closings scheduled for Aug and Sep. The growth is coming from the sales of existing Inventory Homes along with their new Custom Building focus.

"It appears Homebuyers and their Realtors
are in fact recognizing the value of high performing energy and sustainable built homes - says Robert Cenk VP of Homecrete Homes. "We have been building this way since our inception" continues Cenk.

Homecrete Homes has been recognized both on a local and national level for its construction process which includes Greenblock Insulated Concrete Form wall systems and now Icynene Spray Foam ceilings. "We're providing homeowners with an environmentally responsible
solution by building strong, safe and highly energy-efficient homes along Florida's Treasure Coast," Cenk continued.

ICF construction is an improved technique used to build the exterior walls of a home or building. Insulated concrete forms are a 'stay in place' insulated wall forming systems made of three primary components; high R-value expanded polystyrene foam, rigid polymer ties and steel-reinforced poured concrete. The use of ICFs began more than 50 years ago in Europe and continues to gain popularity today in the residential and commercial construction industry, including being used as a major contributor for 'green building' designations.

About Homecrete Homes Inc.
Homecrete Homes (http://www.homecretehomes.com) has been building ICF homes for several years in two key markets; Florida's Treasure Coast and Kern County California. The Company has made the top 400 Builder List for 2007 and now 2008 as well. In Florida, the company is active in building six model homes, custom homes and commercial projects all utilizing ICF construction.

About Cartagena Group
Cartagena Group, a Delaware Corporation, is the parent/holding company of Homecrete Homes and an organization managing companies who collectively are engaged in residential and commercial new construction activities. Cartagena Group owns 100 percent of the shares in Homecrete Homes and provides business development, capital funding, cash flow, senior management and overall leadership for its operating divisions.


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Steve Reiter
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