VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 11, 2011) - CBM Asia Development Corp. ("CBM Asia" or the "Company") (TSX VENTURE:TCF)(US:CBMDF)(FRANKFURT:IY2)is pleased to announce that it has now closed its previously announced private placement, raising an aggregate of $544,993. A total of 3,633,290 common shares were sold at a price of $0.15 per share. All securities are subject to a four month hold period expiring June 9, 2011.

The gross proceeds of the offering will be used to fund the continued exploration and development of the Company's coalbed methane interests in Indonesia and for general working capital.

The Company also announces that it has updated its corporate presentation with current information on the Company and its activities on its coalbed methane properties in Indonesia. A copy of the corporate presentation is available on the Company's website at www.cbmasia.ca.

ABOUT CBM ASIA DEVELOPMENT CORP.

CBM Asia Development Corp. is a Canadian-based unconventional gas company with significant coalbed methane ("CBM") exploration and development opportunities in Indonesia. The Company has the right to earn an estimated 12% participating interest in a production sharing contract ("PSC") for CBM on a 58,349 hectare block located in the South Sumatra Basin where initial exploration drilling of a production test well commenced in the second half of 2009. The Company has committed to fund an initial US$3.25 million in exploration expenditures on the Sekayu PSC to prove reserves and submit a Plan of Development to the Government of Indonesia. The Company also has an 18% net working interest in a PSC for CBM on a 76,000 hectare block located in the Kutai Basin of East Kalimantan. As geotechnical lead, the Company is responsible for directing a US$5.6 million exploration and appraisal program to November 2011, to determine commercial feasibility of CBM production for the Kutai-West PSC and submit a Plan of Development. The Company has 40% net working interests in a second 56,500 hectare block also in the prolific Kutai Basin. Indonesia has one of the largest CBM resources in the world with a potential 453 trillion cubic feet in-place, more than double the country's conventional natural gas reserves (Stevens and Hadiyanto, 2004). Between May 2008 and August 2009, 15 CBM PSCs were granted by the Government of Indonesia, representing exploration commitments of US$95.68 million over the next 3 years. The Company trades on the TSX Venture Exchange under the symbol "TCF".

ON BEHALF OF CBM ASIA DEVELOPMENT CORP.

Alan T. Charuk, President & CEO

Contact Information: CBM Asia Development Corp.
Alan Charuk
(866) 504-4755
corpcom@cbmasia.ca
www.cbmasia.ca