601 CIEN STREET, SUITE 235, KEMAH, TX 77565-3077

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Kemah, Texas – April 28, 2003 American International Industries, Inc. (OTCBB: AMIN) today announced that a Letter of Intent has been signed between AMIN and Delta Seaboard Well Service, Inc. (“DSW”).  DSW is based in Houston, Texas with additional operations in Louisiana.  AMIN will invest $4,000,000 in cash to acquire 51% from DSW.  All the investment proceeds will be used for working capital of DSW, and for expansion of DSW’s business. We believe that this will position DSW to be prepared for the next up-trend in oil and gas drilling activities. DSW provides diverse services to the oil and gas industry including drilling rigs, drilling pipe (new and used), plugging of unused and abandoned oil and gas wells as well as consulting services to the oil and gas industry.  DSW has been in business for over 30 years and enjoys a good reputation in the market place.  DSW projects revenues for 2003 is in excess of $15,000,000 and DSW expects to be profitable for the year.  In addition to its equity investment, AMIN will provide assistance to DSW to obtain additional funding in order to take advantage of certain opportunities presently existing in the oil and gas industry.  This acquisition is subject to additional due diligence and AMIN is requiring audited financials of DSW in compliance with SEC regulations applicable to material acquisitions. 


Mr. Daniel Dror, Chairman and C.E.O. stated: “We believe that this strategic acquisition, if successfully concluded, will provide AMIN with an opportunity to benefit from the anticipated significant growth in the oil and gas service industry.”


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, 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 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.


Investor Relations:  Rebekah Ruthstrom  Tel: 281-334-9479  email: