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Indusmin Energy Corp Announces Hiring of Senior Drilling Eng.

Business Editors

HOUSTON--(BUSINESS WIRE)--May 16, 2001

Indusmin Energy Corp. (CDNX:IDM) is proud to announce the hiring of Andriy M. Plishka Drilling Eng, MBA to head Indusmin's Crimea fields west drilling team.

Andriy M. Plishka has 10 years experience, including drilling in CIS Europe, where he worked for Ukrgasprom, as senior engineer in full charge of a drilling unit. Plishka has managed gas wells drilling, casing, and cementing in conditions of scarcity of logistical resources and produced technological and accounting reports. He has also worked for Arthur Anderson, Mazar and Guerard, where he managed several projects with EBRD, holding senior positions. Andriy M. Plishka has extensive business/financial experience as a key financial person with multinational companies in The Ukraine. He is fluent in Ukrainian, English, and Russian. He was awarded the Second Prize at the "All-USSR Conference 1989 of young scientists", during his studies at the Ukraine Oil And Gas Academy.

"Mr. Plishka's experience and reputation in the oil and gas sector in the Ukraine will increase the speed in which we can drill and commence gas deliveries." Carlos Munoz

Plishka will be based out of our Simferopol, Ukraine office in the AR Crimea. Plishka will be given the responsibility to organize and oversee all regional aspects of our drilling and redevelopment program of the West Fields. We anticipate drilling and development to be underway in the fourth quarter of 2001.

About Indusmin Energy Corporation

Indusmin Energy is committed to the business philosophy of identifying and acquiring business opportunities in newly emerging markets. Indusmin's global network of personnel provides the company with a unique opportunity to actively pursue transactions worldwide.

Indusmin Energy is focused on oil and gas properties with proven reserves and base metal and industrial mineral properties in production or near production within emerging countries. Indusmin Energy has 7,275,002 shares outstanding, with 9,978,852 fully diluted and trades on the Canadian Ventures Exchange Inc. under the symbol IDM.

`David Atkinson' President

The contents of this News Release have neither been approved nor disapproved by the Canadian Venture Exchange.
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Publication:Business Wire
Date:May 16, 2001
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