American Ammunition Books Supplemental $500,000.00 Sales Order.

Business Editors

MIAMI--(BUSINESS WIRE)--May 21, 2003

American Ammunition, Inc. (OTCBB:AAMI) is pleased to announce receipt and booking of a supplemental 2003 Purchase Order from Ellett Brothers, ("Ellett"), Chapin, South Carolina, for the supplemental amount of $500,000.00. The supplemental order to be filled in calendar year 2003 is in addition to the announcement of receipt and booking of an initial 2003 Purchase Order from Ellett for approximately $1,000,000.00 for calendar 2003. This brings the total 2003 Purchase Order for Ellett to $1,500,000.00. Ellett is a nationwide marketer and supplier of natural outdoor sporting goods products. Ellett markets and distributes a broad line of products and accessories for hunting and shooting sports, marine, camping, archery and other outdoor activities. Its product lines include fire arms and ammunition. Its customers include over 30,000 independent retailers in all fifty (50) states and several foreign countries.

Andres Fernandez, President and CEO of AAMI confirmed that "we continue to be excited that Ellett places its faith and trust in AAMI. Ellett has been a good customer of AAMI for many years."

About American Ammunition, Inc. -- AAMI is an autonomous manufacturer of ammunition, with the technology and equipment to take advantage of the growing market. It has an excellent reputation within the industry. The ammunition industry has experienced a 28% average increase in revenues annually between 1991 through 1998, and the trend is expected to continue through the year 2005 and beyond. For further product information, please call 1-305-835-7400 or visit the website at: http://www.a-merc.com For Investor Relations information, please call: 1-305-446-4800 or e-mail: [e-mail].

This release contains statements that constitute forward-looking statements. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company's financing plans; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors.