American International Industries Inc. Acquired Delta Seaboard Well Service Inc. and Applying for Listing on The NASDAQ Small Cap Market.

Energy Editors/Business Editors

KEMAH, Texas--(BUSINESS WIRE)--Oct. 15, 2003

American International Industries Inc. (OTCBB:AMIN) announced today that it completed the acquisition of 51% of Delta Seaboard Well Service Inc. ("Delta"). Delta has been in the energy field service business for over 30 years and enjoys a good reputation in its field. Delta sells oil field pipe, tubular, well-completion work, and provides work-over services for existing oil and gas wells. Delta is creating an exploration division, which is a natural evolution for its business. Delta's business offers it many opportunities in the oil and gas exploration field. Delta signed an agreement to participate with the YUMA Exploration and Production Inc. in a drilling program in St. Bernard Parish, Main Pass Field area in Southern Louisiana. Last year, Delta's revenues were in excess of $14,000,000 and Delta was profitable. Delta is presently in negotiations with another company, which would be of great synergy with Delta once the acquisition is completed which potential acquisition could increase Delta's gross revenues by up to 100%. Among the clients of Delta are El Paso Production Company, The Houston Exploration Company, Burlington Resources Company, The Railroad Commission of Texas, Pogo Producing/North Central Oil Corporation and Dominion Exploration and Production Inc.

Mr. Daniel Dror, CEO of AMIN, stated, "The acquisition of Delta would be of great benefit to AMIN and its shareholders. Delta is managed by Mr. Rob Derrick and Mr. Ron Burleigh who are the principles and owners of 49% of Delta. Both have been with the company for many years. Mr. Derrick and Mr. Burleigh have signed long-term employment agreements with Delta."

Further, the Company's board of directors voted to apply for a listing of its shares on the NASDAQ Small Cap Market. The company previously applied for a listing of its shares on the American Stock Exchange. However, the Company believes that due to lengthy wait and the likelihood it may be required to consolidate its financials with the current potential acquisitions prior to being approved by the American Stock Exchange for a listing of its shares the Company has decided to proceed with its application to the NASDAQ Small Cap Market.

American International Industries Inc. is a holding company. The Company has holdings in Industry, Real Estate in Houston, Texas, and surrounding areas, and owns an Oil & Gas royalties' interest. The vision of the Company is in addition to internal growth, 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 economies of scale by consolidating administrative functions, and utilize the financial and management expertise of corporate personnel across all units. The Company is continuing to work with management of the subsidiary companies to improve revenues, operations and profitability.

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, continued acceptance of the Company's products and services, increased levels of competition, new products and technology changes, the dependence upon financing, third party suppliers and intellectual property rights, the rules of regulatory authorities and risks associated with any acquisitions. 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.