American Stone and Trans European Securities International Jointly Announce That the Consortium Will Invest in American Stone and the Entities Will Work Together to Develop a Local Leisure Resort.

AMHERST, Ohio -- American Stone Corporation, a subsidiary of American Stone Industries, Inc. (Pink Sheets:AMST), and Trans European Securities International LLP, a European consortium, today announced that instead of exercising the option Trans European holds to purchase approximately 900 acres of American Stone's real estate (the "Property"), Trans European intends to make a significant investment in the stock of American Stone on terms currently being negotiated, and join forces with American Stone to develop the Property. Neil Pike, spokesman for the Consortium, said, "We recognize and value the great benefits of having an indigenous partner on a project of this nature to complement our wide-ranging commercial and worldwide development experience."

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

In prior announcements, Trans European has communicated its plan 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 retractable roof.

American Stone said neither its new role in the development of the Property nor the investment in American Stone by Trans European would interfere with any of its existing or planned stone quarrying or processing operations. American Stone and Cleveland Quarries expect to continue to operate in all respects as they have previous to this announcement.

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.