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IMTG News International American Technologies, Inc., a Subsidiary of American International Industries, Inc., Announces Funding of Additional Capital and Update of Orders for Its Hammonds Technical Services, Inc. Subsidiary

HOUSTON--(BUSINESS WIRE)--International American Technologies, Inc. (OTCBB:IMTG)

Carl Hammonds, President of IMTG, today announced that the Company received an additional $1,500,000 in funding from the Vision Opportunity Master Fund, Ltd. (VOMF) for the purchase of shares of IMTG’s Series B Convertible Preferred Stock. The $1,500,000 funding is in addition to the $1,500,000 funded by VOMF in August 2006. The Company intends to use the $3,000,000 in proceeds from these private placements with an institutional investor for capital expenditures by its wholly-owned subsidiary, Hammonds Technical Services, Inc., in order to increase production capacity necessary to meet increased demand for Hammonds growing product lines.

Mr. Hammonds further stated that “the Company has recently received an order for seven of Hammonds’ Model G-30 Omni Directional Vehicle (ODV) tractors for material positioning at major U.S. Air Force maintenance facilities. This order follows an initial order for two Hammonds’ ODV units that have been in service since December of 2005. We believe that this latest order represents an increased acceptance in the quality and performance of our ODV product line by major customers including the U.S. Air Force, among others, and will lead to additional orders for our ODV equipment wherever military and commercial aircraft are maintained.”

Mr. Hammonds also stated that “Our fuel additive injector business has received notice and that an existing order of $1,728,000 has been increased to $2,304,000 and the first portion of this order for $576,000.00 will be delivered by Hammonds in the fourth quarter of 2006. This fuel additive injector equipment will be used to support military fueling operations and is based on our standard injection package that Hammonds provides for our U.S. Military.”

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 value of our real estate portfolio, the strength of the real estate market in Houston, Texas as a whole, continued acceptance of the Company's products and services, increased levels of competition, new products and technology changes, the dependence upon financing, third party suppliers and intellectual property rights, the rules of regulatory authorities and risks associated with any potential acquisitions. 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.