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IMTG News American International Industries, Inc. Sells Houston Property for a Net Cash Profit of $3.0 Million

HOUSTON--(BUSINESS WIRE)--American International Industries, Inc. (OTCBB:AMIN): Daniel Dror, Chairman and CEO, announced the sale of the property at 910 Rankin Road, Houston, Texas, for a cash consideration of $5.45 million. The property is a 106,000-square-foot manufacturing and warehouse facility situated on 10 acres of land in the vicinity of the Bush International Airport in Houston, Texas.

The $3.0 million profit derived from the sale will be added to the fourth quarter results of American International Industries, Inc. The Company purchased the property for a consideration of $2.25 million, and Hammonds Technical Services, Inc. (a wholly owned subsidiary of International American Technologies, Inc. (OTCBB:IMTG)) has been operating out of the property. Hammonds will continue to lease the property and will reconfigure its current 80,000 square feet into multiple production lines in order to meet its current production of ODVs and Injector backlog. Hammonds Technical Services is projecting to increase its revenues to over $8.0 million in 2007. Hammonds Water Treatment business has a backlog of orders, which will increase this business segment to over $3.0 million for 2007. Hammonds Fuel Additives segment, with its substantial back log of orders, will increase its business to over $2.0 million in 2007 for an increase of 82% over 2006. The additional 26,000 square feet of the 106,000 square feet will be used to expand the facilities for the fuel additive business.

“All of our subsidiaries are exceeding our expectations. Hammonds Technical Services is growing dramatically and its physical expansion in the property just sold should ensure that it continues on its growth trajectory in the coming year. Northeastern Plastics has seen its revenues increase over 26% year over year, principally due to its licenses to sell the MOTORTREND and Good Housekeeping Seal of Approval products. Due to the rising price of crude oil and the rest of the energy sector, Delta Seaboard, our oil and gas service business, has been growing and profitable,” stated Daniel Dror.

He added, “These businesses offer American International Industries further opportunities for expansion, of which we will analyze and reinvest in them as appropriate. At the same time, we remain alert to opportunities for mergers and acquisitions that provide heightened potential shareholder value. We are reviewing companies in the oil and gas service sector, in the oil and gas exploration sector and in the oil and gas refinement sector. The funds from the sale of the property may be used to pursue the targeted companies. From time to time, we will purchase real estate as an investment, and to date, our most successful real estate ventures have resulted in substantial profits for our shareholders.”

For more detailed information, please review our end-of-year 10K filing with the SEC.

About American International Industries, Inc.

American International Industries, Inc. is a holding company. The Company has holdings in Industry, Finance, Real Estate in Houston, Texas, and surrounding areas and Oil & Gas. The vision of the Company is to develop holdings in various industries through acquisition of existing companies, applying the financial resources and management expertise to foster the growth and profitability of the acquired businesses. The holding company serves as a financial and professional partner to the management of the subsidiaries. The role of the holding company is to improve each subsidiary’s access to capital, achieve economies of scale by consolidating administrative functions, and utilize the financial and management expertise of corporate personnel across all units. The Company is continuing to work with management of the subsidiary companies to improve revenues, operations and profitability.

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.