American International Industries Inc. Signs Letter of Intent to Acquire 51% of Dawson Marine Inc.

Business Editors

KEMAH, Texas--(BUSINESS WIRE)--May 29, 2001

American International Industries Inc. (OTCBB:EDII) today announced that a non-binding letter of intent has been signed between EDII and the owners of Dawson Marine Inc. (a privately held company based in Beaumont, Texas) whereby 51% of Dawson Marine Inc. will be acquired by EDII and the remaining 49% will be held by Dawson's management, who will continue with the operations of the business.

Dawson Marine Inc. is a leading dealer of outboard sport fishing boats with sales of approximately $10,000,000 in 2000. Dawson Marine is the largest dealer in its marketplace and last year was ranked as:

-- No. 2 dealer in the US for Skeeter bass boats.

-- No. 2 dealer in the US for Bay Stealth fishing boats.

-- Top 25 dealer in the US for Yamaha outboard motors.

EDII will assist Dawson Marine Inc. with its expansion plans. In addition to its existing facilities in Beaumont, Texas, the company this year opened new locations in Lumberton, Texas and Jasper, Texas. Dawson maintains the largest inventory of bass and bay fishing boats in Texas (over 100 boats) and is an authorized dealer for Skeeter, Boston Whaler, Cobia, Yamaha, Mercury, Mercruiser, Pathfinder, Maverick, Hewes, Southfork, Bay Stealth, Triton, Champion, Bay Seeker and Yamaha Exciter. The company also sells nationwide through its Web site at www.dawsonmarine.com.

American International Industries Inc. is a growing holding company. The company has holdings in industry, finance, real estate in Houston and surrounding areas, and oil & gas. The vision of the Company is 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 economics of scale by consolidating administrative functions, and utilize the financial and management expertise of corporate personnel across all units. EDII is continuing to work with management of the subsidiary companies to improve revenues, operations and profitability.

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 include without limitations, continued acceptance of Dawson's products and services, increased levels of competition in Dawson's business, new products and technology changes, the dependence upon financing to complete the acquisition of Dawson, third party suppliers and intellectual property rights, the rules of regulatory authorities and risks associated with any potential 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.