General
Finance and Development, Inc. (OTC Markets: GFDV) announced today it has
executed a Letter of Intent to co-own and be a major tenant in a creative
business center in Minneapolis, Minnesota.

The
agreement dated August 16, 2013 is between 861 Hennepin, LLC, The Ackerberg
Group and General Finance and Development, Inc.

The
three main components of the agreement include:


  • GFD subsidiary Corporate Art Force, LLC locating its
    operations in the building

  • GFD investing in the building and holding an equity
    position

  • GFD investing in other business ventures that will occupy
    space in the building


The building will be redeveloped to provide approximately
40,000 square feet of usable space.

The final agreement between the parties is to be completed
within 90 days of the Letter of Intent.

More information regarding the creative business center will
be forthcoming over the next several weeks.

About General Finance and
Development:

General Finance and Development,
Inc. provides capital and business development services to small and medium
size companies. Capital is provided to qualified companies by equity and/or
strategic loan agreements. Business development services include business
planning, organization and management development. GFD also pursues
merger/acquisitions and joint venture projects.























The foregoing
material may contain forward-looking statements. We caution that such
statements may be subject to uncertainties and that actual results could differ
materially from the fore-going statements. Readers accordingly should not place
undue reliance on these forward-looking statements which do not reflect
anticipated or unanticipated events or circumstances occurring after the date
of these forward-looking statements. More information regarding General Finance
and Development including financial statements and reports is available at the
company?s website www.genfd.com and www.otcmarkets.com.


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