American Mold Guard, Inc. Announces Paulson Investment Company, Inc. Has Exercised the Balance of Its Overallotment Option.

SAN JUAN CAPISTRANO, Calif. -- Please replace the release dated May 31, 2006 with the following corrected version due to multiple revisions.

The corrected release reads:

AMERICAN MOLD GUARD, INC. ISSUES CORRECTION OF PRIOR PRESS RELEASE ON EXERCISE OF BALANCE OF OVERALLOTMENT OPTION 

American Mold Guard, Inc. (Nasdaq:AMGI, AMGIW, AMGIZ) (BSE:AML), a provider of mold prevention services to the residential real estate construction industry, today announced that Paulson Investment Company, Inc. ("Paulson"), the representative of the several underwriters of its initial public offering that was effective April 26, 2006, will purchase 100,000 shares of the Company's common stock, 100,000 Class A Warrants and 100,000 Class B Warrants pursuant to the overallotment option that the Company had granted to Paulson in connection with its initial public offering. The Company had previously reported that Paulson had advised that it would purchase 205,000 of each class of securities. The closing for the sale and issuance of these securities has been rescheduled for June 7, 2006. The net proceeds to the Company are expected to be approximately $600,000. Paulson has until June 10, 2006 to exercise the balance of the overallotment option.

About American Mold Guard, Inc.

Founded in 2002, American Mold Guard, Inc. is an industry leader in the field of mold prevention services. Its services are primarily focused on the residential real estate construction industry in California, Texas, Florida and Louisiana. Its customers include many of the largest national and regional home builders. Visit: www.americanmoldguard.com

Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the Company's actual operating results to be materially different from any historical results or from any future results expresses or implied by such forward-looking statements. In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as "believes," "belief," "expects," "expect," "intends," "intend," "anticipate," "anticipates," "plans," "plan," to be uncertain and forward-looking. In particular, American Mold Guard makes no representations that the closing for the securities underlying the over-allotment option will occur. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company's filings with Securities and Exchange Commission.