American International Industries, Inc. Reporting Update on Sale of Its Delta Seaboard Well Service, Inc. Subsidiary.

KEMAH, Texas -- American International Industries, Inc. (OTCBB:AMIN) (the "Company") today announced an update on the previously issued release dated 04/17/06, relating to the sale of its subsidiary, Delta Seaboard Well Service, Inc. ("Delta") to CFO Resources, Inc. ("CFO") for $48,000,000. CFO's President, Steve Jones, requested an additional 30-45 day extension to complete due diligence and to finalize investment banking agreements with certain London-based investment firms, at which time CFO will be able to execute a definitive legally binding agreement and make a $1,000,000 non-refundable cash deposit with the Company.

The Company has been advised by CFO that it has engaged legal and accounting professionals to conduct the appraisals of Delta's oil-field equipment together with equipment of other oil and gas service companies that CFO has contracted to acquire. The Company believes, based upon its communications with CFO and the progress of the due diligence, the sale of Delta could close within approximately 90 days.

Delta is experiencing significant growth in 2006, with a substantial back-log of orders, a substantial increase in pipe sales revenues and increasing profit margins.

American International Industries, Inc. is a holding company. The Company has holdings in Industrial/Commercial, Oil and Gas Services, Finance, and Real Estate in Houston, Texas area. The vision of the Company is to acquire controlling interests in undervalued companies and assets and to take an active role in its subsidiaries, in order to generate growth and profitable operations by providing its subsidiaries with access to capital, leveraging synergies and using the Company's management expertise. As a holding company, AMIN achieves economies of scale by consolidating administrative functions for each of its subsidiaries.

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 include without limitations, continued acceptance of our products and services, continued growth in the energy sector, increased levels of competition, the dependence upon adequate financing, third party suppliers and the ability to hire and retain qualified management for its operating subsidiaries, and the regulatory environment in the segments in which we operate. 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.