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InAmerica To Acquire AmeriEnvironmental Remediation Product Lines


Dallas, TX  - August 15, 1999 -  InAmerica Corporation (NASDAQ BB: INAO), a turnaround specialty firm, announced today that it has signed a letter of intent with Ameri Environmental, Inc., a privately-held corporation, to purchase AmeriEnvironmental’s business and assets, a manufacturer of belt skimmers.


“Ameri Environmental’s product line being very similar to ExoGear, we believe the merging of the diverse customer bases will increase ExoGear dominant position in the belt skimmer industry” said C. Gus Cristo, Chairman, President and CEO of InAmerica.


InAmerica is a diversified holding company that specializes in developing leading edge innovative technologies and the acquisition, reorganization and turnaround of distressed businesses that retain dramatic potential once a recovery is completed.  The company typically seeks to divest itself of the revived businesses through spin-off or outright sale to a company with a strategic need and fit.


This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934. Actual results of the combined entity could differ materially from those projected as a result of the timing and cost of implementing a restructuring program associated with combining the two companies. Also, actual results could differ due to various factors including the size and timing of individual orders, the conversion of engineering design orders into equipment orders, the recovery of project change orders, and the progress of the Company's product development activities relating to new markets. The Company undertakes no obligation to publicly release the results of any revisions to these forward-looking statements which may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of anticipated events.


Press Contact:

C. Gus Cristo,

CEO

InAmerica

  1. (918)622-3300