AMERICAN INTERNATIONAL INDUSTRIES, INC.

(OTCBB: “AMIN”)

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

Tel: (281) 334-9479   Fax: (281) 334-9508

www.americanii.com       email: aiii@wt.net

 

 

FOR IMMEDIATE RELEASE

 

AMERICAN INTERNATIONAL INDUSTRIES, INC.

REPORTS FIRST QUARTER RESULTS AND

FILES PROXY STATEMENT

 

Kemah, Texas – May 12, 2003 American International Industries, Inc. (OTCBB: AMIN) reports that the consolidated net income from operations for the three-month period ended March 31, 2003 was $3,233 compared to a consolidated net loss of $124,022 for the comparable period of the prior year.  During the current quarter a provision for unrealized losses on investment securities due to market fluctuation of $548,780 offset net operating income resulting in a net loss on a comprehensive basis of $545,547 as compared to a net comprehensive loss of $124,022 during the comparable period last year.  Please refer to our Form 10-QSB filed with the SEC.

 

Daniel Dror, Chairman & C.E.O. stated, “we are pleased to announce the appointment of Mr. Gary D. Woerz as assistant C.F.O., who brings to the company over 20 years experience in the financial and accounting field.”  Further, American International Industries, Inc. recently filed its Schedule 14A, Proxy Statement announcing its Annual Meeting of Shareholders to be held in Kemah, Texas on June 19, 2003.

 

American International Industries, Inc. is a growing holding company.  The Company has holdings in Industry, Finance, Real Estate 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 economics 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.  Periodically as opportunities present themselves, we may sell or merge the subsidiaries in order to bring value to the holding company and our shareholders and to enable the Company to acquire larger companies.

 

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: aiii@wt.net