Consolidated American Industries Corporation Announces New York Expansion.

TAMPA, Fla. -- Consolidated American Industries Corporation (Pink Sheets:CMDJ) today announced the commencement of its New York operations.

The Company has recently acquired the HSBC Bank Building, a 64,000 square foot commercial office building located in downtown Utica, New York. CMDJ intends to use part of the facility as headquarters for its New York real estate and manufacturing operations.

Operating out of the facility will be Fusion Real Estate Corporation and Carbon Race USA, both wholly owned subsidiaries of CMDJ. Fusion is a premier provider of full-service real estate services, offering commercial and residential clients comprehensive buying, selling, leasing, acquisition, disposition and management services. Carbon Race USA produces the SuperKarts product line, as well as a number of other carbon fiber based commercial products. The Carbon Race product line may be visited on-line at: http://www.carbonrace.it

Consolidated American Industries Corporation ("COAM"), a Nevada corporation, with principal offices located in Tampa, Florida, is a public holding company involved in the manufacturing, natural resource, and financial services business segments, including real estate lending, management, and development activities. COAM's primary operating subsidies are: SIG Mortgage Company of Florida, Inc., a mortgage lender that provides financing for residential and commercial real estate transactions and buys and sells mortgages on the secondary market; Century Container Corporation, which specializes in corrugated, chipboard, and solid fiber containers, combined with other state-of-the-art packaging materials, to provide total product protection during shipping, handling, and storage; Fusion Real Estate Corporation, a premier provider of full-service real estate, offering commercial and residential clients comprehensive buying, selling, leasing, acquisition, disposition and management services; SIG Wholesale Distribution, Inc., which is involved in the retail and wholesale distribution of numerous consumer and industrial products; McNulty First Lending, Inc., a Florida Licensed Correspondent Lender approved to originate all types of residential and commercial mortgage loans, including; Reverse Mortgages, Conventional, Home Improvement Loans, Zero Down Purchase Loans, 2nd Mortgages, Construction Loans, Home Equity Lines of Credit, Debt Consolidation, Cash-Out Refinances, and Stated Income/No Income loans; and Carbon Race Italia, S.p.A, an Italian corporation that specializes in the development and application of advanced compound materials.

Except for historical information contained herein, the matters set forth above may be forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ from those in the forward-looking statements. Words such as "anticipate", "believe", "estimate", "expect", "intend" and similar expressions, as they relate to the Company or its management, identify forward-looking statements. Such forward-looking statements are based on the current beliefs of management, as well as assumptions made by and information currently available to management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors such as the level of business and consumer spending, the amount of sales of the Company's products, the competitive environment within the industry, the ability of the Company to continue to expand its operations, the level of costs incurred in connection with the Company's expansion efforts, economic conditions in the industry and the financial strength of the Company's customers and suppliers. The Company does not undertake any obligation to update such forward-looking statements. Investors are also directed to consider all other risks and uncertainties.