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

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




American International Industries, Inc.

to acquire controlling interest in a business

of drilling, pipe and services in the energy field


Kemah, Texas – August 18, 2003 American International Industries, Inc. (OTCBB: AMIN) today announced that it signed a definitive agreement to purchase 51% of all shares outstanding of Delta Seaboard Well Services, Inc. (“Delta”).  The consideration payable to Delta for the 51% is approximately $3,000,000 consisting of cash, marketable securities and a line of credit for Delta’s working capital.   There will be no dilution to AMIN’s shareholders and no stock of AMIN will be issued to the seller. The exact final consideration will be determined after a final audit of Delta’s books.  Delta will issue to American 51% of new shares of Delta, and all funds will be invested in Delta’s operations in order to increase Delta’s working capital.  No shareholders of Delta will be selling any of their shares to American.  Robert Derrick and Ron Burleigh, present Chairman and President of Delta respectively, will own the other 49% of Delta.  Both signed long term employment contracts with Delta.


Delta has been in the drilling and well service business for over 30 years and the company enjoys a good reputation in its field.  Delta’s 2002 revenues were in excess of $14,000,000 and profitable for the first six months of 2003.  Delta is looking at other acquisitions that fit with its business in the energy field and plans to focus on growth by acquisitions in addition to its own internal expansion.


American’s management believes due to the projected continuity of high prices for oil and gas for the foreseeable future the time is right to acquire companies operating in the oil and gas services field as well as other energy and alternate energy fields.


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: