Iron Eagle Also Announces Effectiveness of Registration Statement, Reverse Split, NASDAQ Application, and Improved Corporate Governance

NEW YORK, NY, Aug 16, 2011 (MARKETWIRE via COMTEX) -- Iron Eagle Group, Inc. (otcqb:IEAG) (pinksheets:IEAG), a construction and contracting services provider in the infrastructure, commercial, and government markets, today announced revenue of $11.1 million, for the three month period ended June 30, 2011, and $23.3 million for the six months ended June 30, 2011. These revenues were generated from Iron Eagle's Delta Mechanical Contractor division. Delta is a leading mechanical contractor and regional HVAC, plumbing and fire protection subcontractor. All financials, including revenue, relating to Delta only include results starting from January 21, 2011, the date Iron Eagle completed its acquisition of Delta.

Jason Shapiro, CEO of Iron Eagle, stated, "Our successful acquisition and integration of Delta Mechanical, coupled with management's strategic plan for its future expansion through internal growth and additional acquisitions have positioned us to become on of the leaders in the governmental contract marketplace. Management is focused on leveraging our $34 million project pipeline while bidding on additional large-scale infrastructure opportunities. We also intend to transition to a senior exchange in the near future in order to increase our visibility within the investment community. Iron Eagle is well positioned to grow our revenues, complete additional acquisitions in the heavy construction sector, and increase our earnings to improve shareholder value."

Financial Results for the Three Month Period Ended June 30, 2011

Total revenues for the quarter ended June 30, 2011 were $11,105,900. Cost of revenues for the quarter ended June 30, 2011 was $10,587,700. Gross profit for the quarter ended June 30, 2011 was $518,200, or 4.7% of revenues.

Financial Results for the Six Month Period Ended June 30, 2011 Total revenue for six months ended June 30, 2011 was $23,353,400. Cost of revenue for the six months ended June 30, 2011 was $21,999,600. Gross profit for the six months ended June 30, 2011 was $1,353,800, or 5.8% of revenues.

Balance Sheet: Iron Eagle had cash and equivalents of $2.7 million at the end of the period, and current accounts receivables of $12.3 million.

Additional information: For additional information regarding Iron Eagle's results for the three month and six month period ended June 30,2011, please refer to the 10-Q filed iron Eagle on August 15, 2011.

About Iron Eagle Group, Inc. Iron Eagle is a leading infrastructure company dedicated to the rebuilding of America's infrastructure. Iron Eagle provides construction and contracting services in both the commercial and government markets. Iron Eagle's management consists of business leaders in construction, government contracting, defense, finance, operations, and business development. Management has a compelling strategic plan to capitalize on the $100 billion market opportunity in infrastructure construction created by annual government spending at the federal, state, and municipal levels throughout the United States. Through the experience and track records of its management team, along with a strong and diversified balance sheet, Iron Eagle believes it will have a major competitive advantage by being able to provide higher levels of construction surety bonds to support its infrastructure projects. Iron Eagle will further target additional growth opportunities through the highly focused bidding of federal, state, and municipal construction projects as well as working as a subcontractor to some of the multi-billion dollar prime contractors in the United States. Additionally, Iron Eagle expects to grow by making accretive acquisitions in segments of its industry with large growth potential.