American Group, Inc. Reports Second Quarter Results; Revenue For Three Month Period Increases 24%.

Business Editors

BOYNTON BEACH, Fla.--(BUSINESS WIRE)--Jan. 24, 1999

American Group, Inc. (OTCBB:MOSSE) today announced that revenue for the three months ended November 30, 1999 totaled $833,993, a 24% increase compared to revenue of $671,781 earned for the three months ended November 30, 1998. Net losses for the current three month period totaled $231,996, or $.01 loss per share, a slight increase over net losses of $215,325, or $.35 loss per share, for the comparable three month period in 1998.

For the six months ended November 30, 1999, revenue increased approximately 9% to $1,406,134 over revenue of $1,292,386 reported for the six months ended November 30, 1998. Net losses totaled $385,669, or $.02 loss per share, for the six month reporting period in 1999, an increase over net losses of $269,895, or $.15 loss per share, reported for the same six month period in the prior year.

According to Eric Deckinger, President of American Group, Inc., &uot;During the past six months, the management of American Group has achieved some significant goals which have positioned the Company for substantial growth as we move forward. Specifically, we acquired Torland, ensuring a continual supply of high-quality, Canadian sphagnum peat moss well into this century. Further, we secured a commitment for the final round of financing necessary to complete our new, state-of-the-art soil blending plant in Dade County, the heart of Florida's $1.5 billion-per-year horticulture industry. And, finally, we have become a fully-reporting company. From this point on, we intend to focus on increasing sales and enhancing shareholder value in American Group.&uot;

About American Group, Inc.

American Group, Inc., through its subsidiary Lantana Peat and Soil (LPS), currently owns and operates a soil-blending plant in Palm Beach County, Florida. In addition, LPS will shortly be relocating to its new, state-of-the-art soil blending plant in Homestead, Florida, which, when completed, will significantly increase the Company's production capacity to serve the global horticultural industry. For additional information, please refer to the Company's Web site: www.theamericangroupinc.com.

This press release contains or incorporates by reference &uot;forward-looking&uot; statements, including certain information with respect to plans and strategies of The American Group, Inc. For this purpose, any statements contained herein or incorporated herein by reference that are not statements of historical facts may be deemed to be forward-looking statements. Without limiting the forgoing, the words &uot;believe(s),&uot; &uot;anticipate(s),&uot; &uot;plan(s),&uot; &uot;expect(s),&uot; and similar expressions are intended to identify forward-looking statements. There are a number of important factors that could cause actual events or actual results of MOSS to differ materially from these indicated by such forward-looking statements.