American Stone Announces Purchase Agreement to Sell Its Lorain County Real Estate to Leisure Resort Developer.

AMHERST, Ohio -- American Stone Corporation, a subsidiary of American Stone Industries, Inc. (Pink Sheets:AMST), and Trans European Securities International LLP, a European consortium, announced that they have executed a purchase agreement under which Trans European will acquire approximately 900 acres of American Stone's real estate for a cash payment of $15,250,000 at a closing anticipated in the first quarter of 2006. American Stone initially disclosed the negotiations with Trans European in May 2004.

The American Stone property is located in Lorain County, Ohio, and has frontage on State Route 113 on Quarry Road. It is approximately three miles from the Ohio Turnpike with access at Baumhart Road, Route 58 and Route 57.

In a prior announcement, Trans European communicated its plans to build a $1.25 billion leisure resort on the property, including residential, high-end retail, a hotel, a golf course and a year-round aquatic center with a retractable roof.

American Stone said the sale would not interfere with any of its existing or planned stone quarrying or processing operations. American Stone would continue to own the property in Erie County where its active quarry is located. The company said it expects to move its processing operations from the Lorain County property to a new location during 2006.

American Stone Industries is a holding company that mines and sells stone predominantly for the building stone market through its wholly owned subsidiary, American Stone Corporation. American Stone Corporation owns and operates Cleveland Quarries in Amherst, Ohio, one of the world's largest sandstone quarries. The Company reported net income of $152,935 on revenues of $2,399,098 for the 12 months ended December 31, 2004. For the nine months ended September 30, 2005, the Company had net income of $196,241 on revenues of $2,034,808. As of September 30, 2005, the Company had 2,361,110 shares outstanding. The Company's stock is traded on the Pink Sheets Electronic Quotation Service under the symbol AMST.

This press release includes statements that may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements are made based on Management's expectations and beliefs concerning future events affecting the Company and are subject to risks and uncertainties that could cause actual results to differ materially from the expectations expressed in or implied by forward-looking statements. Such risks include, but are not limited to, trends within the building construction industry, actions by competitors, equipment and operational problems, the success of advertising and promotional efforts, changes in relationships with major customers or in the financial condition of those customers, and the adequacy of the Company's financial resources and the availability and terms of any additional capital. On July 27, 2005, the Company reported that the deregistration application it had earlier filed with the U.S. Securities and Exchange Commission had become effective and all reporting obligations of the Company under the federal securities laws had ended, including forms 10-KSB, 10-QSB and 8-K.