American Sports Development Group Announces Plans For Growth in 2004.

Business Editors

GREENVILLE, S.C.--(BUSINESS WIRE)--Jan. 8, 2004

American Sports Development Group Inc. (OTCBB:ASDP) announced today that they have implemented steps for growth in 2004. William Fairbanks, CEO of ASDP, commented, "We did a lot of restructuring in 2003 and have settled several outstanding issues that had been a hindrance to the company. In addition, our balance sheet will be enhanced by this restructuring, allowing us to move toward profitability in the near term."

He continued by saying, "Our Inflatable division has undergone extensive re-structuring in 2003, and although our sales have decreased, we feel that now, though smaller, we've structured the Inflatable division where it can now be profitable. That was achieved by cutting expenses while continuing to sell quality products to various niches, including car dealerships and numerous other businesses. We recently won a contract to produce 'The Glove', which has been ordered by Mettle Images for distribution under license to Major League Baseball. We foresee that in 2004 we are now positioned to start generating profits from this division."

Commenting on ILM, the insurance division of ASDP, Mr. Fairbanks stated, "Our insurance revenues grew steadily in 2003 as compared to 2002. That was attributable to the tremendous work effort put forth by our sales team. We insured amusement parks, paintball facilities, and other outdoor sports. We continued to see increased demand for our paintball insurance programs and anticipate this to continue with an improving economy. We will benefit from the renewals of these policies, as well from new insurance business that we are writing on a daily basis. One of our goals for 2004 is to grow the insurance aspect of our business, and we are looking to continue to expand our network of clients by diversifying into new specialized niche markets. Becoming one of the premier insurers of extreme sports, and events, is certainly an attainable goal for us."

Speaking of other plans for the company, Mr. Fairbanks stated, "We have always felt that growing by acquiring companies that have synergy with our various divisions would be in the best interest of our shareholders. We have had discussions with several private companies that we are interested in, but we will do extensive due diligence before we decide to make any purchase or acquisition. Now that our balance sheet has been cleaned up, we have become more attractive to private companies that wish to be acquired or merge into a public company. If a company is able to meet our criteria as an acquisition candidate, and that company can add value for our existing shareholders, then we will certainly give strong consideration to making that company part of American Sports Development Group Inc."

Certain statements in this press release constitute "forward-looking statements" relating to American Sports Development Group, Inc. and its subsidiaries (the "Company") within the meaning of the Private Securities Litigation Reform Act of 1995. All statements regarding future events, our financial performance and operating results, our business strategy and our financing plans are forward-looking statements. In some cases you can identify forward-looking statements by terminology, such as "may," "will," "would," "should," "could," "expect," "intend," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue," the negative of such terms or other comparable terminology. These statements are only predictions. Known and unknown risks, uncertainties and other factors could cause actual results to differ materially from those contemplated by the statements. In evaluating these statements, you should specifically consider various factors that may cause our actual results to differ materially from any forward-looking statements.