Record Date for Issuance of Stock Dividends of Philippines Royal Oil & Alternative Energy Co., Inc. to PAIM Shareholders Moved to February 26, 2007, Pearl Asian Mining Industries, Inc. Announces.

Pearl Asian Coordinating Closely with NASDAQ to Obtain Payment Date for Stock Dividend of 1 Common Share in PGMC for Every 100 Shares of PAIM 

MANILA, Philippines -- Pearl Asian Mining Industries, Inc. with stock symbols: U.S.A. (OTC: PAIM); Germany (GER: R1Z) and (FWB: R1Z) announces that it has moved the Record Date to February 26, 2007 for Issuance of Stock Dividends of Philippines Royal Oil & Alternative Energy Co., Inc. (Old Stock Symbol: PGMC; New Stock Symbol pending NASDAQ advise), or Phil Oil, to PAIM shareholders. CEO Jason Piamonte states: "We are coordinating closely with NASDAQ to obtain a payment date for the stock dividend, wherein 1 common share of PGMC will be issued for every 100 PAIM Common Shares to all shareholders of record as of February 26, 2007. The record date has been revised to comply with documentary requirements set by NASDAQ. The positive effect of this is that more shareholders can avail of this stock dividend in a solid company with bright potentials such as Phil Oil."

Once a payment date is furnished by NASDAQ, along with the issuance of a new stock symbol for Phil Oil, Pearl Asian shall commence sending out stock certificates by mail on the set payment date for completion within a reasonable amount of time. It is also worth noting that this stock dividend issuance will occur without any action required on the part of PAIM shareholders. The common shares of PGMC issued as stock dividend are post-forward split, i.e. PAIM shareholders will receive the exact number of shares.

To find out more about Phil Oil, please check out its website: www.philippinesroyaloil.com.

Forward-Looking Statements:

Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements in this release include statements regarding the Company's projections regarding gold production in future periods. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties such as: risks relating to estimates of reserves, mineral deposits and production costs; mining and development risks; the risk of commodity price fluctuations; political and regulatory risks; risks of obtaining required operating permits and other risks and uncertainties. Penny Stocks are very highly speculative and may be unsuitable for all but very aggressive investors. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.