Kemah, Texas - April 9, 2001 American International Industries, Inc.
(OTCBB: EDII) today announced the sale of its wholly owned subsidiary Har-Whit/Pitt's
& Spitt's, Inc. (HW/P&S) to Oxford Knight International, Inc. HW/P&S
is the manufacturer and distributor of high quality barbecue pits and a sheet
metal fabricator of parts specially manufactured for the energy industry. John
W. Stump III, Chief Financial Officer of American International Industries,
Inc. stated that "The Company intends to file a Form 8-K report related
to this transaction."
American International Industries,
Inc. is a rapidly 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. EDII is continuing to work
with management of the subsidiary companies to improve revenues, operations
and profitability.
Contact:
American International Industries Inc., Kemah
Investor Relations: Rebekah Ruthstrom Tel: 281-334-9479
email: aiii@wt.net
email: aiii@wt.net