ASI Liquidating Corp. Announces Final Shareholder Distribution of American Stone Sale Proceeds.

AMHERST, Ohio -- ASI Liquidating Corp. (Pink Sheets:ASIL), formerly American Stone Industries, Inc., today declared a one-time dividend of $0.15 per common share payable May 27, 2008, to shareholders of record May 12, 2008. This payment represents a final liquidating distribution of proceeds from the sale of all assets of American Stone to Industrial Realty Group LLC in December 2007. Shareholders are not required to surrender their shares at this time to receive the dividend.

American Stone changed its name to ASI Liquidating Corp. and adopted a plan of complete dissolution and liquidation following the completion of the sale. Shareholders of record were mailed a payment in the amount of $7.00 per share in late December that represented most of the net proceeds of the sale.

Shareholders should consult their tax advisor regarding the effect of the liquidating distributions.

Any registered shareholder who has not received a check should contact National City Shareholder Service Communications toll-free at 800-622-6757.

Any holder of shares in Street name who has not received a check should contact their broker or their bank for more information about funds received by the broker or bank from The Depository Trust Company.

ASI Liquidating Corp. is the new name of American Stone Industries, Inc., a holding company that mined and sold stone predominantly for the building stone market through its wholly owned subsidiary, American Stone Corporation. The stock formerly traded on the Pink Sheets Electronic Quotation Service under the symbol AMST.