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AMIN News International American Refineries, Inc. a Wholly Owned Subsidiary of American International Industries, Inc. Receives $2,000,000 from Sale of Refinery

Mr. Daniel Dror, Chairman and CEO, today announced that the Company's wholly owned subsidiary, International American Refineries, Inc. (IARI) received $2,000,000 from the sale of a refinery in Nixon, Texas. In September 2005, IARI and YUMA Production Company (YUMA) were negotiating to acquire a 10,000-barrel per day (Nixon) refinery from its owner, Notre Dame Investors, Inc. (Notre Dame). All documents, including the Bill of Sale, were agreed to and signed. The documents were recorded in Wilson County, Texas and the consideration was tendered. Shortly thereafter, in order to try and rescind the transaction, Notre Dame filed for bankruptcy protection in the Federal Bankruptcy Court, San Antonio, Texas. YUMA, on behalf of itself and IARI, filed claims in the Bankruptcy Court demanding specific performance based on its agreements with Notre Dame and other damages. The Bankruptcy Judge auctioned off the Nixon refinery. The refinery was sold to third parties for a consideration of $16,050,000 and the Judge awarded YUMA and IARI $4,000,000 in damages. YUMA and IARI are sharing the $4,000,000 on a 50/50 basis. As a result of awarded damages, the Company will add approximately $0.40 per share to its third quarter results.

American International Industries, Inc. is a holding company. The Company has holdings in Industry, Oil and Gas Services, Finance, and Real Estate in Houston area. The vision of the Company is to acquire controlling interests in undervalued companies and assets in which it takes an active role to improve their growth and profitability, by providing its subsidiaries with access to capital, leveraging synergies and using AMIN's management expertise. As a holding company, AMIN achieves economies of scale by consolidating administrative functions for each of its subsidiaries.

Private Securities Litigation Reform Act Safe Harbor Statement:

The matters discussed in this release contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended that involve risks and uncertainties. All statements other than statements of historical information provided herein may be deemed to be forward-looking statements. Without limiting the foregoing, the words "believes", "anticipates", "plans", "expects" and similar expressions are intended to identify forward-looking statements. Factors that could cause actual results to differ materially from those that we may anticipate in each of our segments reflected by our subsidiaries' operations include without limitations, continued acceptance of our products and services, continued growth in the energy sector, increased levels of competition, the dependence upon adequate financing, third party suppliers and the ability to hire and retain qualified management for its operating subsidiaries, and the regulatory environment in the segments in which we operate. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's analysis, judgment, belief or expectation only as of the date hereof.