American Resources Reports Sale of U.S. Polo for $1.3M.

PORTLAND, Ore.--(BUSINESS WIRE)--June 21, 1999--

AMERICAN RESOURCES & DEVELOPMENT CO. (OTC BB:ADCO) reports that the sale of its remaining fifty percent interest in the master license rights to the U.S. Polo Association name has been sold to an affiliate of Jordache Enterprises for consideration of approximately $1.3 million.

AMERICAN RESOURCES & DEVELOPMENT (ARDCO) obtained these rights through its acquisition of Quade, Inc. in July 1998.

Will Papenfuss, CEO and President of ARDCO, stated, "We appreciate the opportunity of working with Jordache. We also look forward to dedicating our resources to the further development of significant opportunities in our other companies." Papenfuss indicated the decision to sell the master license would result in strengthening the Company's balance sheet.

ARDCO is an investment holding company that specializes in select consumer products. Pacific Print Works, one of ARDCO's core holdings, produces leading-edge screen-printed apparel for corporate accounts, employing 100 people at their Portland-based operation. PPW customers include some of the largest branded apparel manufacturers in the United States whose products sell at major department stores.

Another significant ARDCO holding is Fan-Tastic, Inc., a franchise-based retail chain of specialty stores selling licensed goods such as Disney, Warner Bros., the NFL, etc.

ARDCO also owns an investment of 1.2M shares of Golf Communities of America, Inc. (OTC BB:CLUB) common stock.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the company's control with respect to market acceptance of new technologies or products, delays in testing and evaluation of products, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.