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InAmerica Completes Acquisition of Ameri Environmental Product Lines


Dallas, TX  - October 21, 1999 - InAmerica Corporation (NASDAQ BB: INAO), a buyout specialty firm, announced today that it has completed the acquisition of the business and product lines of Ameri Environmental, Inc., a privately-held corporation. The transaction was treated as an asset purchase for accounting purposes.


“We’re very pleased to have been able to acquire Ameri Environmental’s product lines of belt skimmer and reclamation devices, which broadens and expands our ExoGear subsidiary’s position as a leading environmental specialty manufacturer,” said C. Gus Cristo, Chairman, President and CEO of InAmerica. “With the new products currently in development at ExoGear coupled with other acquisitions in negotiation, we believe ExoGear will become an excellent strategic addition for a water-pollution related enterprise,” he said.


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