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Company Contact:
Iron Eagle Group, Inc.
Mr. Jason M. Shapiro, CFA, CPA, J.D.
Executive Vice President of Corporate Strategy
Phone : +1 (917) 969-4845
Email: jasons@ironeaglegroup.com
Website: www.ironeaglegroup.com

FOR IMMEDIATE RELEASE

Iron Eagle Group (IEAG) Announces Execution of Definitive Agreement to
acquire Southeastern Infrastructure Company

New York, NY - August 24, 2010 - Iron Eagle Group, Inc. (OTCQB: IEAG)
today announced that it has entered into a definitive agreement to
acquire  the assets of Farache Enterprises, Inc., a leading Florida
based regional site development, excavation, and road building
construction firm. Farache's business and assets will be transferred to
a new entity 100% owned by Iron Eagle and will be called Farache
Enterprises, a division of Iron Eagle Group, Inc. Moshe Farache,
President and Founder of Farache Enterprises, Inc. will become
President of the new division.

"We are very excited about establishing a strong base in Florida and
the Southeast.  Due to the strong growth in that region, there is
considerable Federal and State infrastructure work in process and
scheduled for the next decade in the Southeast." commented Michael
Bovalino, Chief Executive Officer of Iron Eagle Group.  He further
added "Farache has continuously built and improved market share, and we
are confident that we will be able to further augment that growth and
build additional value for all of our stakeholders".

"I was immediately impressed with the institutional quality and deep
construction experience of the management team that Iron Eagle has
assembled,"  stated Moshe Farache, President and Founder of Farache
Enterprises, Inc.  He added, "On behalf of myself and our employees, we
anticipate wonderful growth, continued profitability, and improved
customer service, business practices, and efficiencies as part of the
Iron Eagle Group.  "

The final closing is expected to occur in the next 30 days. During this
time period, Iron Eagle's management team is working closely with the
team at Farache to insure a smooth transition.

About Farache Enterprises, Inc.

Farache Enterprises, is the premier total site development and
engineering contractor in southern Florida with a successful track
record of engagements and high industry reputation for integrity,
reliability, and work quality. Farache engages primarily in site
development projects for the construction of buildings, parking
structures, streets, highways and utility systems in Southern Florida
under long-term contracts. The Company's service capabilities include
construction management, engineering, and contracting services
including earthwork, paving, utilities, demolition, and hauling.
Farache's customer base includes government departments and agencies
including municipalities and school boards, institutions including

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religious organizations, and well-known and capitalized private
commercial entities including retail chains and developers.  The
Company also performs construction management, engineering, and
disaster relief services. Farache is a licensed contractor in the state
of Florida and is LEED certified.

For more information, please visit the Company's website at
www.faracheent.com

About Iron Eagle Group, Inc.
Iron Eagle provides construction and contracting services in both the
commercial and government markets. Iron Eagle's management consists of
experts in construction, government contracting, defense, finance,
operations, and business development. Management has created a
compelling strategic plan to capitalize on the large market opportunity
created by the federal government's stimulus package as well as funds
that are flowing down to the state level for projects throughout the
United States.  Through the public capital markets, Iron Eagle believes
it will have the access to capital to support increased needs for
construction surety bonds.  By executing on its growth strategy, Iron
Eagle can achieve significant growth through highly focused targeting
of federal, state, and municipal construction projects.

For more information, please visit the Company's website at
www.ironeaglegroup.com.

Safe Harbor Statement
The Private Securities Litigation Reform Act of 1995 provides a "safe
harbor" for forward-looking statements. Certain information included in
this press release contains statements that are forward-looking, such
as statements related to the future anticipated direction of the
industry, plans for future expansion, various business development
activities, planned or required capital expenditures, future funding
sources, anticipated sales growth, and potential contracts. Such
forward-looking information involves important risks and uncertainties
that could significantly affect anticipated results in the future and,
accordingly, such results may differ from those expressed in any
forward-looking statements made by, or on behalf of, the company. These
risks and uncertainties include, but are not limited to, those relating
to development and expansion activities, dependence on existing
management, financing activities, and domestic and global economic
conditions.
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