CMMI Acquires Interest in Intercontinental Fuels, LLC.

Business Editors

BATON ROUGE, La.--(BUSINESS WIRE)--Oct. 20, 2003

Consolidated Minerals Management, Inc. (OTCBB:CMMI), announced today that CMMI has purchased a 75% ownership interest in Intercontinental Fuels, LLC (IFL). IFL is a fuel distribution terminal located in Houston, Texas. CMMI's investment in the facility amounted to $2,750,000. Appraised value of facility was $6,900,000. Revenues to CMMI from IFL are projected to be in excess of $1,000,000.00 before tax during the first twelve months of operations.

"We have worked diligently in completing this acquisition as it is our belief that the potential revenue from this facility will provide additional value for our shareholders," commented Mr. Timothy G. Byrd, Sr., Chief Executive Officer of CMMI. "In addition to our drilling prospects, this acquisition provides for exciting growth opportunities available to us in the fuel distribution business."

Special Note: Management believes certain statements in this press release may constitute ``forward-looking statements'' within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are made on the basis of management's views and assumptions regarding future events and business performance as of the time the statements are made. Actual results may differ materially from those expressed or implied. Such differences may result from actions taken by the company, their ability to secure financing, ability to finalize the additional lease acquisition, as well as from developments beyond the company's control, including changes in energy prices, production rate, cost of operating, and other national and global factors that may, among other things, affect the company's performance or operating results, prior to its current fiscal year end, as well as from developments beyond the company's control, including changes in global economic conditions that may, among other things, affect the company's performance anticipated acquisitions or future business. In addition, changes in domestic competitive and economic conditions may also affect performance of all significant company businesses.