NORTHEAST DEVELOPMENT CORP TO RECEIVE FUNDING FROM EU INVESTMENT FIRM

Philadelphia , PA October 13, 2006 - Northeast Development Corp., Pink Sheets: NHVP, announced today that the corporation has entered into a financing agreement with a European investment firm. Raven Investments PLC, has agreed to provide Northeast Development Corp. with equity backed financing for real estate development. Preliminary discussions suggest figures of $2-3 million with a combination of real estate and equity collatiralization. "This form of financing should benefit both our bottom line today and our future growth", stated a Northeast Development Corp. representative Statements in this release, which relate to other than strictly historical facts, including statements about the Company's plans and strategies, as well as management's expectations about new and existing products, technologies and opportunities, market growth, demand for acceptance of new and existing products, are forward-looking statements. The words 'believe', 'expect', 'anticipate', 'estimate', 'project', and similar expressions identify forward-looking statements that speak only as of the date hereof. This press release contains certain forward-looking statements regarding NHVP Corp., its business prospects and results of operations that are subject to certain risks and uncertainties posed by many factors and events that could cause NHVP's actual business, prospects and results of operations to differ materially from those that may be anticipated by such forward-looking statements. Readers are urged to carefully review and consider the various disclosures made by NHVP in this news release and other reports filed with the Securities and Exchange Commission that attempt to advise interested parties of the risks and factors that may affect NHVP's business. ________________________________________ Contact: Northeast Development Corp., Philadelphia Phone: 215-246-3456 Fax: 215-689-1934 [email protected] ________________________________________ Source: Northeast Development Corp.